May 22, 2020
According to the research report titled ‘Interceptor Missiles Market Size By Surface, By Range, By Component, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global interceptor missiles market is expected to generate appreciable revenues by the year 2026.
Interceptor missiles are known as hit-to-kill devices since they are equipped with kill vehicles which detach missiles and eliminate the incoming threat. These interceptors can be fired from in-ground silos, mobile trucks or ships.
Rising threat of terrorism and cross-border conflicts along with growing demand for coastal protection systems are major factors driving the interceptor missiles market growth. Increasing ICBM (intercontinental ballistic missiles) capacities of various countries is compelling the need for interceptor missiles in order to deploy effective countermeasure systems. Interceptor missiles are surface-to-air missiles which intercept ICBMs carrying chemical, nuclear, biological, and convention warheads to destroy them on trajectory.
As per component type, GPS (global positioning system) segment is projected to expand significantly during the forecast timespan. GPS based interceptor missiles use satellite navigation system. Increasing integration of such systems with C4ISR technology will augment the market outlook.
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Alternatively, radar homing segment is expected to register substantial growth during the study period. A radar homing system is of two types namely, a semi-active radar homing missile and active radar homing missile system. A semi-active radar homing system comprises of only a receiver and requires the firing aircraft to use its own radar system to direct the missile. On the other hand, an active radar homing system contains its own radar transmitter and a receiver. Growing demand for autonomous tracking solutions for fast moving airborne targets is aiding the growth of the segment.
Citing the regional scope, Europe interceptor missiles industry is predicted to acquire commendable returns in the ensuing years, primarily due to increasing cross-border conflicts and terrorism.
Meanwhile, Latin America market is set to record a momentous growth rate during 2020-2026. Growing demand for medium and short range interceptor missiles in order to protect coastal regions is favoring the market scenario in LATAM.
As per the report, interceptor missiles market in Middle East & Africa is also reckoned to witness considerable growth through 2026, owing to increasing collaborations between regional manufacturers to develop an efficient supply-demand chain.
BAE Systems, Boeing, Thales Group, Saab AB, Rheinmetall AG, Raytheon Co., Rafael Advanced Defense Systems Ltd., Northrop Grumman Corp., MBDA, Lockheed Martin Corp., Leonardo S.p.A., L3Harris, Kongsberg, Israel Aerospace Industries, Hanwha Corp., General Dynamics Corp., Elbit Systems Ltd., China Aerospace Science & Technology Corp., Bharat Dynamics Ltd., Almaz-Antey, Airbus SAS and Aerojet Rocketdyne are the major contenders in global interceptor missiles industry.