Global Anti-Ship Missile Defence System Market 2016-2020
Overview of the global anti-ship missile defense system market
Extensive market research carried out by Technavio’s analysts has predicted that the global anti-ship missile defense system market will grow progressively at a CAGR of around 6% during the forecast period. Countries such as the US, the UK, Russia, Iran, Israel, China, South Korea, India, and Japan are expected to increase their demand for anti-ship missile defense systems during the forecast period, owing to intensifying border threats and national security concerns. Some of the major vendors in the market are designing advanced anti-ship missile defense systems with improved speed, strike capabilities, and enhanced effectiveness to cater to the demand from these nations. With an increase in naval warfare and sea border disputes across the globe, the modernization of naval combat systems is on the rise. Several ships and vessels are being equipped with advanced radar, sensors, offensive and defensive weapons, and navigation systems, to expand the capabilities of naval warfare, which will further boost the demand for anti-ship missiles during the predicted period.
The increasing use of sea-based X-band radar-1 (SBX-1) system is the latest trend gaining momentum in the market. This radar system is an enhanced version of the K and Ka-band radar systems that can detect any suspicious movement from a long distance. These are advanced electro-mechanically steered phased array radars which include a mid-course fire control radar based on a semi-submersible naval vessel. The SBX-1 platform is equipped with a command, control, and communications (C3) system and an in-flight interceptor communication system data terminal, besides a BMDS system, which tracks the incoming missiles, countermeasures discrimination for ground-based midcourse defense (GMD) interceptor missiles, and destroys the threat outside the Earth's atmosphere.
Competitive landscape and key vendors
The global anti-ship missile defense system market is highly competitive where the vendors compete on the basis of cost, product quality, reliability, and aftermarket service. The international players have a strong foothold in the market in trems of in-house manufacturing capabilities, newer technologies, global footprint network, product offerings, R&D investments, and a strong client base. These vendors primarily focus on the implementation of lightweight materials, electric technologies, and robust systems.
Leading vendors in the market are -
- General Dynamics
- Lockheed Martin
- Northrop Grumman
Other prominent vendors in the anti-ship missile defense system market include Finmeccanica, MBDA, Rafael Advanced Defense Systems, Saab AB, and Thales.
Segmentation by component and analysis of the anti-ship missile defense system market
- Missile interceptor
The radar segment dominated the anti-ship missile defense system market during 2015 and accounted for more than 73% of the total market share. Massive investments by countries like the US, Russia, Israel, South Korea, and Japan have boosted the procuremet and sales of these radar systems. Due to the high demand for anti-ship missile defense radar systems, there has been proposals to increase the ballistic missile defense radar systems in the future naval fleets. These systems will deliver an enduring, supportable, operationally effective, and integrated ballistic missile defense capability in destroyers and cruisers.
Geographical segmentation and analysis of the anti-ship missile defense system market
APAC is the fastest-growing region in the market and will occupy around 40% of the overall market revenue during the forecast period. Strong economic development and subsequent rise in military spending is the major growth factor for this region. Rising number of maritime conflicts in the Indian Ocean and the South China Sea have prompted nations like China, India, Australia, and South Korea to invest in the rapid modernization of anti-ship missile defense systems, which will further augment their sales in the region over the next four years.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global anti-ship missile defense system market?
- What are the key market trends impacting the growth of the global anti-ship missile defense system market?
- What are the challenges to market growth?
- Who are the key vendors in the global anti-ship missile defense system market?
- What are the market opportunities and threats faced by the vendors in the global anti-ship missile defense system market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global anti-ship missile defense system market?
Technavio also offers customization on reports based on specific client requirement.