Authored By: Sarah
22 Jul 2022

Accelerating Development and Procurement of Missiles to Boost the Missile Guidance System Market 

Technavio research projects the missile guidance system market share to grow up to USD 300.33 million, accelerating at a CAGR of 2.50% till 2025. The growth of the missile guidance system market is driven by the accelerating development and procurement of missiles. However, the growing development of SDB and electromagnetic railgun will hamper the market growth.

The market's growth trajectory is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Unlock Sample Analysis Report

Missile Guidance System Market: Key Market Driver

The prime reason behind the accelerating development and procurement of missiles is the increasing number of global territorial disputes, which have led to the investment in various variants of weapon systems. There is been an increase in the number of armed conflicts over the past few years, and the growing tension among countries is mainly driving the need for advanced weapons and weapon systems. These factors have led the nations to work collaboratively to develop defensive missiles and their guidance systems.

In addition, missile retrofitting, and the demand for enhanced guidance systems for ballistic missiles will facilitate market growth during the forecast period. However, the hindrances associated with various types of guidance systems will hamper the market growth.

Accelerating Development and Procurement of Missiles to Boost the Missile Guidance System Market

Missile Guidance System Market: Vendor Analysis

  • The market is concentrated due to the presence of several players.
  • The growth of the players depends on several factors such as market conditions, government support, and industry development. 
  • BAE Systems Plc, DRDO, General Dynamics Corp., Leonardo Spa, Lockheed Martin Corp., Luna Innovations Inc., Raytheon Technologies Corp., Safran SA, Thales Group, and The Boeing Co. are some of the major market participants.
  • To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations. Download the PDF Sample Report

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