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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.
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 -
Other prominent vendors in the anti-ship missile defense system market include Finmeccanica, MBDA, Rafael Advanced Defense Systems, Saab AB, and Thales.
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.
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.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by component
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Competitor landscape
PART 14: Appendix
PART 15: Explore Technavio
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