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.
Missile Guidance System Market: Vendor Analysis
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