Global Players Dominate the Market Holding ~55% Share Despite the Presence of about ~ 260 Competitors Comprising a Significant Number of Regional Players and Country-Niche, finds a recent market study on the Global Missiles and Missile Defense Systems Market
As geopolitical tensions between various nations and fears about terrorism expand, countries' military budgets are increasing, which is driving government expenditures in missile defense systems (and related missiles) across their land and water borders. The market's growth is anticipated to be primarily boosted by it throughout the forecast period. At the moment, government organizations and businesses work together to create technologically sophisticated missiles and missile defense systems, such as hypersonic missile
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
Global Players Dominate Representing ~50% of the Total Number of Competitors, While Country-Niche Players Constitute ~20% of Total Competitors.
Competitive Analysis by the Ken Research Study found that the Global Missiles and Missile Defense Systems Market is highly competitive with ~ 260 players which include globally diversified players, regional players as well as a large number of country-niche players having their own niche in Missiles and Missile Defense Systems. The global players comprise about ~50% in terms of the number of companies, followed by regional players accounting for ~30% in terms of the number of companies.
For instance, in March 2019, the Polish government awarded Northrop Grumman Corporation a contract of USD 350 million in to create two combat management systems to help Polish military authorities deal with ambiguous information about prospective air and missile assaults.
Leading Global Specialists' Ongoing Efforts To Provide Missiles and Missile Defense Systems To A Variety Of Missile Types Such as Missile Defense Systems, Anti-aircraft Missiles, Anti-ship Missiles, and Anti-tank Missiles are Likely To Boost The Market
Detailed comparative analysis of key competitors available within the Research Study shows that specialist players like MBDA Inc., BAE Systems., Lockheed Martin Corporation, Kongsberg, and Bharat Dynamics Limited are strongly focused on Missiles and Missile Defense Systems.
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The global market for Missiles and Missile Defense Systems is highly concentrated, with a significant number of large, small, and medium-sized organizations accounting for the majority of revenue shares. Numerous organizations are focusing an emphasis on organic growth initiatives, like new launches, product approvals, and others such as patents and events. Acquisitions, partnerships, and collaborations were examples of inorganic growth tactics that were observed in the market. These actions have made it possible for market players to increase its client and revenue.
- In August 2022 Lockheed Martin assigned BAE Systems a contract to develop and produce next-generation infrared seeker technology for the THAAD interceptor missile. The THAAD seeker offers vital sensing and guidance capabilities that support ballistic missile defense for the United States and its partners across the world.
- In August 2022, Northrop Grumman's SBIRS GEO-6 Payload launched as part of the sixth and final mission of the Space Based Infrared System Geosynchronous Earth Orbit (SBIRS GEO)-6 program series for the US Space Force.
Government Initiatives to Encourage the Expansion of the Global Missiles and Missile Defense Systems Market
- In October 2022, the Canadian National Defense stated that Canada is 'comprehensively looking' into joining the American ballistic missile defense system.
- In April 2022, the Minister of Defense, Norway announced that Approximately 100 Mistral air defense missiles and several launchers are sent to Ukraine together with an air defense system. Navy minesweepers and corvettes are protected from aerial attack by the Mistral air defense system.
Key Topics Covered in the Report
- Snapshot of Missiles and Missile Defense Systems Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Missiles and Missile Defense Systems Market
- Historic Growth of the Overall Missiles and Missile Defense Systems Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Missiles and Missile Defense Systems Market Industry
- Overview, Disorder Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Missiles and Missile Defense Systems Market
- Future Market Forecast and Growth Rates of the Total Missiles and Missile Defense Systems Market and by Segments
- Market Size of Segments with Historical CAGR and Future Forecasts
- Analysis of the Missiles and Missile Defense Systems Market in Global Regions
- Major Missiles and Missile Defense Systems Type/Supply and Consumption/Demand Hubs in the Region
- Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within the Region
Notable Key Players Mentioned in the Report
- MBDA Inc.
- BAE Systems.
- General Electric
- Lockheed Martin Corporation
- Northrop Grumman
- Bharat Dynamics Limited
- L3Harris Technologies, Inc.
- Israel Aerospace Industries Ltd
Notable Emerging Companies Mentioned in the Report
- ESSI Security and Defence
- TechEagle Innovations
- Chara Technologies
- Evigway Technologies
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