Interceptor Missiles Market Research Report 2018-2024 - by Region, by Technology | Top Leaders- Rafael Advanced Defense Systems, Raytheon Co, Lockheed Martin Corp, Boeing Co., Aerojet Rocketdyne

Rising threats from enemy countries across the globe will primarily drive the interceptor missiles market share over the forecast timeframe. Various countries across the globe are purchasing these missiles to overcome these threats. For instance, South Korea purchased THAAD missile from the U.S. owing to threat from North Korea.

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Excessive high manufacturing cost may hamper the industry growth and will also limit the new entrants to establish their business. Moreover, countries are hesitant in purchasing these missiles due to the frequent technological advancements that makes the existing technology obsolete which in turn will restrain the market, posing a challenge before the industry participants.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

• Raytheon Co.
• Lockheed Martin Corp.
• Boeing Co.
• Rafael Advanced Defense Systems
• Aerojet Rocketdyne

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Based on surface:

Surface to air is anticipated to capture maximum revenue share, accounting for nearly USD 12.5 billion by 2024. High usage of these missiles for defense against enemies will primarily drive the industry growth. Moreover, substantial revenue generation is attributed to easy deployment of these missiles on the ground. Provision of benefits such as portability and light-weight will propel the industry players to indulge in their manufacturing, further supporting the industry dominance till 2024.

Based on Technology:

PAC-3 technology accounted for around 30% share in 2016 and is anticipated to continue its dominance over the next eight years. This can be attributed to rising demand across the globe, especially in developed countries including the U.S. In January 2012, the U.S. army signed multiple contracts worth USD 921 million for PAC-3 missiles and related systems. High implementation of these missiles by the countries including Kuwait, UAE, Saudi Arabia, Israel, and Qatar will further have a significant contribution towards the substantial revenue generation.

Based on Region:

MEA is likely to dominate the global interceptor missiles market, generating a demand of over 1,300 units by 2024. High deployment of these missiles owing to continuously rising enemy threats will primarily support the region’s dominance. Various countries are collaborating with major industry participants to enhance their defence capabilities. For instance, Qatar and UAE may sign a deal with Lockheed Martin for Patriot missiles. Moreover, UAE is the first foreign buyer of interceptor missiles after signing deal worth USD 3.4 billion with U.S. Department of Defense.

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Key aerospace composites manufacturers include Hexcel, E.I. DuPont de Nemours, LMI Aerospace, Solvay Group, and BASF SE. Multiple presence across the value chain to reduce the operational costs is the major strategy adopted. Companies follow forward, backward, or full integration strategies between the raw material manufacturers, composites manufacturers, and distributors. Aerospace market players are mostly forward integrated involving manufacturing and distribution of the product.

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