|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The Sea Skimmer Sissile Market is estimated to register a CAGR of over 4% during the forecast period 2020-2025.
- Low flying capabilities for avoiding radar detection, possessed by the sea skimmer missile, may lead to various countries acquiring sea skimmer missiles, and this shall propel the growth of the market in the near future.
- Technological advancements, such as the usage of artificial intelligence in sea skimmer missiles, is expected to be an opportunity for the market.
- Growing maritime tensions are also forcing several countries to develop and procure advanced sea skimmer missiles.
Scope of the Report
Sea skimming is a technique, incorporated by most of the anti-ship missiles. The technique is primarily used to avoid radar and infrared detection during an attack. The sea skimmer missiles usually fly below 50 meters above the sea surface. During an attack, a warship can detect sea-skimming missiles, only once they appear over the horizon, allowing just 25 to 60 seconds of warning. The success of sea-skimming missiles depends on its exact implementation, the infrared and radar signature of the missile, and sophistication of the detection equipment. Sea skimming can also increase the range of a missile due to ground effects. The report also covers the analysis of different launch missiles namely, surface-to-surface missiles and air-to-surface missiles.
Key Market Trends
Surface-to-Surface Missiles Segment are Projected to Grow at the Highest Pace
Currently, Surface-to-Surface Missiles segment have the highest share of all the segments. There have been several developments, in terms of surface-to-surface missiles. The RBS15 Mk3 missile, manufactured by Saab AB is the latest generation, long range, surface-to-surface missile (SSM) system. The system can be used as a main anti-surface armament for any type of naval vessel. The RBS15 Mk3 has also been designed to operate in the naval scenario, from anti-ship engagement, as well as land attack missions. Additionally, the missile has a range of 200 km, and can be launched from ships, trucks, and aircraft. The missile also comes with high-precision GPS, which helps for superior navigation. The missile system is in huge demand, worldwide. During 2018, Saab AB, a Swedish defense contracting company, announced that it has acquired orders from the German company, Diehl Defence, for delivering its RBS15 Mk3 anti-ship missile system for the five new K130 corvettes. According to Saab AB, the order is worth USD 18.1 million. Deliveries for the missile system shall take place between 2019 - 2024. Thus, upcoming developments shall increase the focus on this segment, and this shall be the reason for its expected high CAGR.
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North America is Expected to Witness the Highest Growth During the Forecast Period
In the Sea Skimmer Sissile Market, North America shall experience the highest growth. The Department of Defense of the United States are now focused on developing and improving their naval combat systems, owing to the growing maritime tensions. The United States have also developed various formidable missiles for sinking warships, the deadliest among them is the AG-84 Harpoon missile. These missiles fly with supersonic speed for about 150 miles, using precision-guidance systems to skim over land or water, thus, making their detection harder. Additionally, the missiles can fly in unpredictable patterns, upon being spotted, thus, making it harder to shoot them down. Thus, various ongoing developments, in terms of sea skimmer missiles are expected to lead to its growth in North America, in the near future.
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Various players, such as MBDA, Saab AB, Israel Aerospace Industries Ltd, Northrop Grumman Corporation, and Raytheon Company, hold significant market share, as of December 2018. Various initiatives, as well as product innovations, which are being done by companies, have led them to strengthen their presence in the market. MBDA and Saab AB hold the major market share in the sea skimmer missiles market. In 2018, MBDA reported the success of its anti-ship missile, Sea Venom, which is being developed by Anglo-French funding. The Sea Venom is a sea-skimming missile, which can fly for about 20 km, at high subsonic speed. It has an imaging infrared seeker that provides “fire-and-forget” capability.
In June 2021, Rafael Advanced Defense Systems unveiled the Sea Breaker, a 5th generation long range, autonomous, precision-guided missile system meant to hit high-value maritime and land targets. The missile's mission profile enables sea-skimming and terrain-following low-level flight above ground.
In February 2021, HALCON unveiled its HALCON AntiShip-250 (HAS-250) cruise missile at the International Defence and Exhibition Conference (IDEX) 2021 event.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Launch Type
5.1.1 Surface-to-Surface Missiles
5.1.2 Air-to-Surface Missiles
5.2.1 North America
184.108.40.206 United States
5.2.2 Latin America
220.127.116.11 Rest of Latin America
18.104.22.168 Rest of Asia-Pacific
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.2.5 Middle-East and Africa
188.8.131.52 United Arab Emirates
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.2 Raytheon Company
6.2.3 The Boeing Company
6.2.4 Kongsberg Gruppen AS
6.2.5 BrahMos Aerospace
6.2.6 Israel Aerospace Industries Ltd.
6.2.8 Northrop Grumman Corporation
6.2.9 Saab AB
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Sea Skimmer Missile Market market is studied from 2018 - 2027.
What is the growth rate of Sea Skimmer Missile Market?
The Sea Skimmer Missile Market is growing at a CAGR of >4% over the next 5 years.
Which region has highest growth rate in Sea Skimmer Missile Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Sea Skimmer Missile Market?
North America holds highest share in 2021.
Who are the key players in Sea Skimmer Missile Market?
MBDA, Saab AB, Israel Aerospace Industries Ltd., Northrop Grumman Corporation, Raytheon Company are the major companies operating in Sea Skimmer Missile Market.