Cruise Missile Market Size, Forecasts Analysis, Industry Growth, Company Profiles, Global 2021 Industry Share and Key Regions 2027 - Tactical Missiles Corporation, CASIC, Roketsan A.S, Taurus Systems

The Cruise Missile Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Global Cruise Missile Market Size is Projected to Reach at a CAGR of 11% during 2021-2027.

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Market Overview
Over the years, the influence of missiles in modern warfare strategies increased, and countries started emphasizing preserving missile systems in their armoury. Following the theory of deterrence and mutually assured destruction, countries are procuring and developing more lethal cruise missiles having high speeds and ranges. From a strategic perspective, the possession of such lethal missiles will help the countries in keeping their potential adversaries at bay.
The market is expected to grow primarily due to the emphasis on cruise missile procurement and development activities undertaken by militaries to gain a strategic upper hand.
However, this growth is subjective to several associative factors, such as allocation of funds for procurement of cruise missile systems and may be adversely affected due to budget constraints and various factors that may eventually lead to the program delays and cancellations.

Top Leading Companies:

Lockheed Martin, Raytheon, Tactical Missiles Corporation, CASIC, Roketsan A.S, Taurus Systems

Recent Development:

Taurus Industrial Group, LLC (“Taurus”), an SCF Partners portfolio company, is pleased to announce the acquisition of Amber LP (“Amber”), an electrical and instrumentation services provider to the downstream and industrial sectors. Amber’s addition boosts Taurus’ current electrical and instrumentation capabilities by providing a broader customer base and increased synergies with Taurus’ current engineering, electrical testing, and construction businesses.

Tactical Missiles Corporation was founded on the basis of Zvezda-Strela by the Decree of Russian President №84, signed on January 24, 2002. Zvezda-Strela was a major designer and producer of military missile systems and included the Zvezda Experimental Design Bureau (OKB), a serial production design bureau (SKB), the main Strela plant, and machine-building plants in Kostroma and Bendery (Moldova). It was formerly part of the missile-industry grouping Spetstekhnika (Special Equipment). The structure of Tactical Missiles Corporation was expanded by subsequent decrees №591 on May 9, 2004, and №930 on July 20, 2007.

Cruise Missile Market Segmentation by Type:

Air-launched Cruise Missile
Land Attack Cruise Missile
Others

Cruise Missile Market Segmentation by Application:

Defense
Homeland Security

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North America to Dominate the Market During the Forecast Period

During the forecast period, North America is projected to dominate the market by growing with the highest CAGR. The region also accounted for the highest market share in terms of geography in 2019. The growth in the US cruise missile market is the biggest reason for the region’s dominance. The enhanced capabilities of China and Russia on the battlefield forced the United States to increase its investment in technologically advanced weapon systems. Other factors, such as the rising violence in the Middle-East, due to geopolitical tensions and terrorism, significantly contributed toward the growth of the procurement of missiles and missile defence systems by the US armed forces. In February 2020, the current US president proposed an FY 2021 budget of USD 740.5 billion for national security, of which USD 705.4 billion is allocated for the Department of Defense (DoD). The FY 2021 base budget for procurement is USD 131.75 billion, out of which the munitions procurement investment accounts for USD 21.3 billion for Air Force, Navy, and Army. AMRAAM, JASSM/JASSM ER, Harpoon, and Tomahawk are the commonly used cruise missiles by the US Air Force and Navy, respectively. Tomahawk cruise missile is carried by over 145 warships in the United States.

Regional Cruise Missile Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Cruise Missile Market Report:

Detailed overview of Cruise Missile Market
Changing the Cruise Missile market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Cruise Missile market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Cruise Missile Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Cruise Missile Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Cruise Missile industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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