Interceptor Missiles Market to cross 3,000 units by 2024 | Global Key companies are Lockheed Martin Corp., Boeing Co., Raytheon Co., Aerojet Rocketdyne, and Rafael Advanced Defense Systems

Interceptor missiles of up to 125 kms range are anticipated to dominate the interceptor missiles market, generating a demand of over 2,000 units till 2024. Continuously increasing penetration of missiles conforming to this range such as PAC-3, Iron Dome, and SM-3, from MEA including UAE, Israel, and Saudi Arabia will primarily support the industry dominance.

Interceptor missiles of range above 200 kms will exhibit over 18% CAGR in terms of revenue owing to rising deployment of advanced missiles such as HQ-19. Regular innovations in these missiles in countries such as China will further strengthen the industry penetration over the forecast timeframe.

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Global interceptor missiles market is anticipated to exceed USD 14 billion by 2024. Consistent threat of attack from opposing nations will drive the industry demand. Countries including the U.S., Saudi Arabia, Qatar, Israel, UAE have already bought the product to boost their defense strength.

Interceptor Missiles Market by Surface

• Surface to air
• Water to air

Interceptor Missiles Market by Range

• Up to 125 kms
• Between 125 to 200 kms
• Above 200 kms

Interceptor Missiles Market by Technology

• THAAD
• PAC-3
• SM-3
• HQ-19
• Iron dome
• FD-2000
• Patriot GEM-T
• Aegis ashore
• Aster

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PAC-3 is expected to account for highest interceptor missile market share crossing USD 6 billion over the coming years. Proliferating demand of these missiles, especially in developed countries will primarily support the revenue generation. For instance, in January 2013, the U.S. army entered into several contracts worth USD 755 million for purchasing 168 PAC-3 missiles and associated services and equipment. HQ-19 will exhibit over 40% CAGR till 2024 owing to its continuously rising usage as an upgradation of HQ-9. Its enhanced features as compared to its counterparts will further support the industry growth till 2024.

Surface to air missiles are expected to capture maximum interceptor missiles market revenue share of more than 80% by 2024. Some of the benefits offered includes light-weight and portability which in turn will drive the industry demand. Water to air missiles will exhibit approximately 7% CAGR owing to rising adoption of these missiles in various countries across the globe for naval border protection.

Defense budget across the globe has witnessed considerable growth during the past years. For instance, in 2015, the defense spending across China was around USD 131 billion, this further increased by 11% in 2016 reaching USD 145 billion. Increasing defense budget will support the revenue generation owing to superior purchasing power along with growing investment focusing on R&D. For instance, in December 2017, India successfully tested its advanced air defense interceptor missiles. However, high production cost along with high capital investment may hamper the new players from entering the interceptor missiles market.

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MEA interceptor missiles market will showcase dominance over the next eight years owing to rising threat of enemy attacks across the region. Collaborations of various countries with industry players for purchasing of these missiles will further contribute towards the high revenue generation. For instance, UAE and Qatar are anticipated to enter an agreement with Lockheed Martin for supplying patriot missiles. Europe will witness over 7% CAGR till 2024 owing to rising sales of interceptor missiles from countries including Sweden and Poland.

Lockheed Martin Corp., Boeing Co., Raytheon Co., Aerojet Rocketdyne, and Rafael Advanced Defense Systems are among the major industry players. Regular product innovations is among prominent strategies implemented by these participants.

The above information is provided on a regional and country basis for the following:

• North America
• U.S.
• Europe
• Germany
• Romania
• Poland
• Russia
• Netherlands
• U.K.
• France
• Italy
• Uzbekistan
• Turkmenistan
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Middle East & Africa
• Saudi Arabia
• Israel
• Kuwait
• Turkey
• UAE
• Qatar

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This release was published on openPR.