Authored By: Sarah
20 Jun 2024

 Missile Guidance System Market to grow by USD 645.4 million between 2024-2028

According to a research report “ Missile Guidance System Market” by Product Type (Command guidance system, Homing guidance system, Beam rider guidance system, Inertial and GPS guidance system) Application (Cruise missiles, Ballistic missile) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 645.4 million at a CAGR of  4.69% during the forecast period. In today's geopolitical landscape, the escalating number of territorial disputes has fueled the need for advanced defense solutions, particularly missile guidance systems. The global market for missile guidance systems has experienced significant growth due to the increasing demand for short- and long-range missiles in response to numerous conflicts, including the ISIS conflict, Indo-Pakistan tensions over Kashmir, the Syrian civil war, the Russia-Ukraine conflict, the Lebanon conflict, and the US-North Korea standoff. These conflicts have underscored the importance of precision and effectiveness in missile technology, driving investments in cutting-edge missile guidance systems..

Browse market data tables, figures, and in-depth TOC on “Missile Guidance System Market” by Product Type (Command guidance system, Homing guidance system, Beam rider guidance system, Inertial and GPS guidance system) Application (Cruise missiles, Ballistic missile) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028.

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By Product Type, the Command guidance system segment is projected to dominate the market size in 2024.

In the global missile guidance system market, cruise missiles represent the largest market segment. These missiles are designed to target terrestrial or naval objectives that remain in the Earth's atmosphere, flying a significant portion of their flight path at a consistent speed. Cruise missiles, available in subsonic, supersonic, and hypersonic variants, are essential for engaging high-value targets such as dams, necessitating continuous research and development efforts. The advancement of cruise missile technology is a significant growth driver for the missile guidance system market.

By Application, Cruise missiles  segment is expected to hold the largest market size for the year 2024.

In the missile guidance system market, command guidance systems represent a cost-effective solution for military applications. These systems enable precise missile navigation by transmitting guidance signals from the launch site to the missile. Onboard missile logic receives control signals to correct deviations, ensuring alignment with the target's line of sight. Ground computers compute deviations and transmit updated commands, utilizing wire links, radar, or infrared sensors for positioning. Command guidance systems offer a significant advantage by requiring minimal onboard hardware, reducing missile size and weight.

APAC is forecasted to hold the largest market size by region in 2024.

In the dynamic business landscape, the Missile Guidance System market holds significant potential for growth. This sector is driven by advancements in technology, increasing defense spending, and the demand for precision and accuracy in military applications. Key players are investing in research and development to enhance system capabilities, while strategic collaborations and partnerships further fuel market expansion. The market's future looks promising, with a focus on miniaturization, affordability, and integration of advanced technologies.

The Missile Guidance System Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Airbus SE
  • BAE Systems Plc
  • Dassault Aviation SA
  • DRDO
  • Elbit Systems Ltd.
  • General Dynamics Corp.
  • Honeywell International Inc.
  • Israel Aerospace Industries Ltd.
  • Kongsberg Gruppen ASA
  • Leonardo Spa
  • Lockheed Martin Corp.
  • Mitsubishi Heavy Industries Ltd.
  • Northrop Grumman Corp.
  • Rafael Advanced Defense Systems Ltd.
  • RTX Corp.
  • Saab AB
  • Safran SA
  • Tactical Missiles Corp.
  • Thales Group
  • The Boeing Co.
.

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Research Analysis Overview

The Missile Guidance System market encompasses advanced technologies such as Seeker Technologies, Electro-Optical Systems, Autonomous Guidance, Satellite Navigation, Laser Guidance, Infrared Systems, Radar Systems, Smart Weapons, Guided Missiles, and Military Applications. These systems employ Precision Guidance, Target Tracking, Missile Navigation, and Guidance Technology to ensure accurate and effective engagement of targets. Inertial Navigation Systems play a crucial role in providing position, velocity, and attitude information to the missile during flight. The integration of multiple guidance technologies enhances the overall performance and reliability of missile systems. The global market for Missile Guidance Systems is expected to grow significantly due to ongoing military modernization programs and the increasing demand for advanced defense capabilities.

Market Research Overview

The Missile Guidance System market encompasses advanced technologies that ensure Operational and Cost Efficiency in Weapon Systems. These systems integrate Electro-Optical, Infrared, Laser Guidance, Radar, Satellite Navigation, and Inertial Navigation Systems for Precision Guidance and Target Tracking. Military Contracts drive the demand for Missile Defense and Combat Systems, which rely on Autonomous Guidance and Smart Weapons. Guidance Technology plays a crucial role in Missile Navigation and Missile Systems, enhancing their effectiveness in National Defense and Homeland Security applications. Key players in this sector focus on System Upgrades to maintain a competitive edge in International Defense. The integration of Seeker Technologies and advanced Missile Systems continues to shape the market landscape.

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Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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