Missile Seekers Market 2024 - By Size, Industry Analysis, Segmentation And Outlook 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Missile Seekers Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $13.51 billion In 2028 At A CAGR Of 16.8% :

The missile seekers market size has grown strongly in recent years. It will grow from $4.96 billion in 2023 to $5.34 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to military modernization programs, regional security concerns, export opportunities, rise in asymmetric warfare, counter-air and anti-ship operations, counter-ballistic missile systems.

The missile seekers market size is expected to see strong growth in the next few years. It will grow to $7.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to emergence of hypersonic missiles, increased focus on electronic warfare, deployment on unmanned platforms, focus on anti-ship missile seekers, global proliferation of missile defense systems. Major trends in the forecast period include advancements in sensor technologies, increased integration of artificial intelligence (ai), miniaturization and weight reduction, multi-spectral imaging capabilities, development of hypersonic missile seeker, integration with network-centric warfare systems.

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Missile Seekers Market Major Segments
The missile seekers market covered in this report is segmented -

1) By Missile Type: Cruise Missile, Ballistic Missile, Interceptor Missile, Conventional
2) By Technology: Active Radar, Semi-active Radar, Passive Radar, Infrared, laser, multimode
3) By Launch Mode: Surface-to-Surface, Surface-to-Air, Air-to-Surface, Air-to-Air

Key Driver - Global Surge In Missile Defense Demands Propels Growth In Missile Seekers Market

Growing demand for missile defense systems from around the world will drive the missile seekers market going forward. Amid the rising tensions around the world, countries are looking to secure their territories from aerial attack with missile defense systems. Missile defense systems make use of missile seekers to accurately hit the target and destroy the incoming missiles or aircraft. For instance, in December 2021, India signed a $5.4 billion deal to buy Russia's S-400 missile defense systems. In May 2022, South Korea also approved a $605 million project to upgrade its PAC-2 missile defense system to a PAC-3 system from the USA. Furthermore, in April 2022, USA's largest weapons maker Lockheed Martin's chief executive Jim Taiclet said that they were having demand for THAAD and PAC-3 missile defense systems from all over the world. Therefore, the increasing demand for a missile defense system is propelling the missile seekers market forward.

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Prominent Trend - Advancements In Missile Seekers Technology Drdo's Breakthrough With Akash Ng Radio Frequency Seeker Sets New Standards

Technological advancements in the missile seekers market are a key trend gaining popularity. Major companies and defense organizations in the missile seekers market are coming up with new seeker technologies for improving the target accuracy of missiles. Such advancements enable key players to gain a competitive edge in the market. For instance, in July 2021, the India-based Defense Research and Development Organization (DRDO) successfully tested its new generation surface-to-air missile, Akash NG, which was fitted with Radio Frequency Seeker developed at DRDO's facility in Hyderabad, India. The new missile can lock onto any enemy aircraft until it is destroyed.

Missile Seekers Market Players
Major companies operating in the missile seekers market report are BAE Systems plc, Leonardo SpA, Raytheon Technologies Corporation, Northrop Grumman Corporation, The Boeing Company, Safran SA, Thales Group, Diehl Defence GmbH & Co. KG, Rafael Advanced Defense Systems Limited, Adani Defence And Aerospace, Defence Research & Development Organisation, Koda Technologies Inc., Vem Technologies Private Limited, Analog Devices Inc., Bharat Electronics Limited, Excelitas Technologies Corp., Marotta Controls Inc., Lockheed Martin Corporation, L3Harris Technologies Inc., Honeywell International Inc., Collins Aerospace Systems, Israel Aerospace Industries Ltd., Roxel Group, Rheinmetall AG, Saab AB, MBDA Italia SpA, Roketsan A.S., Taurus Systems GmbH, QinetiQ Group plc, Aerojet Rocketdyne Holdings Inc., Orbital ATK Inc., AeroVironment Inc., Textron Inc., General Dynamics Corporation, Kratos Defense & Security Solutions Inc., LIG Nex1 Co. Ltd., Hanwha Corporation, Mitsubishi Electric Corporation

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Largest And Fastest Growing Region In The Market
North America was the largest region in the missile seekers market in 2023. The regions covered in the missile seekers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Missile Seekers Market Report Structure
3. Missile Seekers Market Trends And Strategies
4. Missile Seekers Market - Macro Economic Scenario
5. Missile Seekers Market Size And Growth
…..
27. Missile Seekers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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