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Missile Seekers Market Growth, Size, Key Players, Launch Mode, Active Radar, Semi-active Radar, Passive Radar, Infrared, Laser, Multi-mode

10-06-2021 03:16 PM CET | IT, New Media & Software

Press release from: ReportsnReports

The global missile seekers market size is projected to grow from USD 5.3 billion in 2021 to USD 6.8 billion by 2026, at a CAGR of 5.2% from 2021 to 2026. The market is driven by various factors, such as geopolitical instabilities, changing nature of warfare, increasing defense expenditure of emerging economies and technological advancements in missile seekers.

BAE Systems (UK), Boeing (US), Leonardo S.p.A. (Italy), Raytheon Technologies (US), Safran Group (France), Thales (France), and Northrop Grumman Corporation (US) are some of the leading players operating in the missile seekers market report.

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The missile seekers market will majorly be driven by the changing nature of warfare in the forecasted year. The advancements in technology have led to the development of new and advanced defense systems, including air defense systems and guided missiles for hitting moving targets. The changing nature of warfare across the globe has led to the acquisition of advanced missile firing and defending capabilities by militaries of various countries. These militaries are increasingly engaged in low-intensity battles. One example of the changing nature of warfare was the Indian military’s reply to the Pulwama attack, where the Indian Air Force fighter planes destroyed a terrorist camp in Balakot (Pakistan) using guided missiles.
Advanced missile defense capabilities help countries in defending themselves against rocket and missile attacks. For instance, Israel’s Iron Dome air defense system prevented more than 2,500 missile and mortar attacks with a success rate greater than 90%. The missile seeker in such a system plays the most important role of making sure the missiles fired by the defense system hit the targets accurately. This fueled the development of more advanced air defense systems, which use ground-to-air missiles with guided seekers, with a success rate greater than 90%. Thus, the changing nature of warfare has resulted in the increased demand for highly advanced seekers for missiles from militaries across the globe.

The missile seekers market includes major players BAE Systems (UK), Boeing (US), Leonardo S.p.A. (Italy), Raytheon Technologies (US), Safran Group (France), Thales (France), and Northrop Grumman Corporation (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, and Rest of the World. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected missile seekers production and services globally in 2020.

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“Infrared Technology: The largest segment of the Missile Seekers market, by Technology. “
The infrared technology is projected to dominate the missile seekers market during the forecast period. Infrared technology is capable of tracking the heat generated by an object. In missile guidance systems, infrared tracks the target based on the heat generated by it. Infrared is a passive type of homing technology which is effective in anti-aircraft missiles as it detects the heat generated by the jet engines of aircraft. Cross-array seekers and rosette seekers make use of infrared technology to guide missiles.

“Interceptor: The fastest-growing segment of the missile seekers market, by Missile Type. “
Based on the missile type, interceptor missiles is projected to grow at the highest CAGR for the missile seekers market during the forecast period. Interceptor missiles are anti-ballistic missiles used to counter ballistic missiles like intercontinental and intermediate-range ballistic missiles launched from any enemy country and to counter aircraft and other missiles. S400, Arrow 2, Arrow 3, THAAD, Patriot missile defense system, and Barak 8 are interceptor missiles used to defend against any kind of airborne threats, such as helicopters, aircraft, UAVs, anti-ship missiles, and ballistic missiles.

“Air-to-Air: The fastest-growing segment of the missile seekers market, by Launch Mode. “
Based on the launch mode, the air-to-air segment is projected to grow at the highest CAGR rate for the missile seekers market during the forecast period. Air-to-air missiles are launched from aircraft, helicopters, or unmanned combat aerial vehicles (UCAVs) to destroy enemy aircraft. The warhead types of air-to-air missiles are fragmentation warheads or continuous rod warheads. These missiles detect their targets using radars or infrared guidance systems and can fly at a very high speed. These missiles are long and have narrow cross-sections to reduce drag.
“North America: The largest contributing region in the missile seekers market.”

North America is projected to be the largest regional share of the global missile seekers market during the forecast period. Major companies, such as Raytheon Technologies, Northrop Grumman Corporation, and SemiConductor Devices, and small-scale private companies, such as Excelitas Technologies Corp, Marotta Controls, and KODA Technologies Inc., are based in the US. These players continuously invest in the R&D of new & improved missile seeker designs.

The missile seekers market in North America is driven by the increasing need for advanced defense systems from the US military. Missile seekers are the systems used in missiles to guide them on the right trajectory to accurately hit the desired targets. Recent technological developments in defense systems, including guided missiles, have led to the increased demand for more efficient missile seekers.

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Canada has shown no interest in developing its own missile systems; the country relies on the US for its defense systems, including missile systems.

Breakdown of primaries:
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1–35%; Tier 2–45%; and Tier 3–20%
• By Designation: C Level–35%; Directors–25%; and Others–40%
• By Region: North America–40%; Europe–20%; Asia Pacific–30%; Middle East & Africa–5%; and South America–5%

Research Coverage:
The study covers the missile seekers market across various segments and sub segments. It aims at estimating the size and growth potential of this market across different segments based on technology, missile type, launch mode, and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.

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Reasons to Buy this Report:
This report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall missile seekers market and its segments. This study is also expected to provide region wise information about the end use, and wherein missile seekers are used. This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.

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