Anti-Tank Missile System Market to $ 3.36 billion Value by 2030: Players ROCKETSAN A.S.,Denel Dynamics

As per the report published by The Brainy Insights, the global anti-tank missile system market is expected to grow from USD 2.43 billion in 2021 to USD 3.36 billion by 2030, at a CAGR of 3.68% during the forecast period 2022-2030. North American region emerged as the largest market for the global anti-tank missile system market, with a 36.31% share of the market revenue in 2021. North America currently dominates the anti-tank missile system market due to the massive defense capital spending undertaken by the United States federal government. The defense and strategic alliances with other countries have led to defense collaborations resulting in the developing of the most advanced and high-end anti-tank missile systems. The presence of significant private defense manufacturers who undertake research and development of high-end, sophisticated, and effective anti-tank missile systems also contributes to North America's dominance in the missile defense market. The U.S. is increasingly spending money developing better systems to stay ahead of adversaries like China and Russia to retain their dominance in the defense manufacturing and supplier category.

𝐆𝐫𝐚𝐛 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭-https://www.thebrainyinsights.com/enquiry/sample-request/12760

Anti-Tank Missile System Market Size by Platform (Ground, & Airborne), Product Type (Man-Portable, & Vehicle Mounted), Application, Domain, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Elbit Systems Ltd., General Dynamics Corporation, Denel Dynamics, Lockheed Martin Corporation, MBDA Missiles Systems, KBP Instrument Design Bureau, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, ROCKETSAN A.S., and BAE Systems PLC, among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The platform segment is divided into ground and airborne. The ground segment dominated the market, with a market share of around 58% in 2021. The product type segment is divided into man-portable and vehicle-mounted. Over the forecast period, the man-portable segment is expected to grow at the fastest CAGR of 4.52%. The application segment is divided into defense and internal security. In 2021, the defense missiles segment dominated the market, accounting for around 65% of global revenue. Tanks are primarily used in close combat situations like battles and wars. The various defense organizations mainly develop them to improve military capabilities. Similarly, to combat the increasing number of tanks in defense, anti-tank missile defense systems are being developed for the defense sector. The defense sector will continue to dominate the applications segment as anti-tank missile systems are primarily focused on destroying heavily armored vehicles on the battlefield.

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India, China, and Japan extensively invest in developing indigenous anti-tank missile systems due to increasing confrontations among hostile neighbors. The 2020 LAC standoff between India and China has continued at certain friction points accompanied by the deployment of troops, arms, ammunition, and armored vehicles. India has escalated its indigenous defense production and technology acquisition to upgrade its army, air force, and naval capabilities in the face of a two-front war with Pakistan and China. For example, India successfully test-fired its first indigenously developed Man-Portable Guided Anti-Tank Missile in 2022. It is a lightweight fire and forget anti-tank missile with a range of 14 km.

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