Global Intercontinental Ballistic Missile Market 2016-2020

Overview of the global intercontinental ballistic missile (ICBM) market

Intercontinental ballistic missiles (ICBMs) are guided ballistic missiles that have a greater range and speed than other ballistic missiles.  ICBMs are major nuclear deterrents, and only a few nations possess the required technology to launch such long-range weaponry. However, the increasing GDP and subsequent growth in defense expenditure across the globe is expected to pull more investments toward the development and procurement of ICBM in the coming years. Moreover, a rise in border threats and national security concerns will also drive the demand for ICBM systems during the forecast period. Technavio’s market research analyst predicts that the global ICBM market will grow at a CAGR of around 6% by 2020.

Recently, Chemring Defence, a prominent vendor of the market, has entered into a strategic alliance with the Ministry of Defense (MOD) to develop a multiple-effect rocket system (MERS) that can fire missiles without emitting any smoke. The advanced missile system does not allow the detection of the origin of missiles, and hence reduces the risks of enemy attacks. Growing prominence of smokeless missiles will boost growth prospects for the ICBM market in the coming years.

Segmentation by type and analysis of the ICBM market

• Land-based ICBM
• Submarine-based ICBM

The land-based ICBM was the major revenue contributing segment in the ICBM market in 2015 and accounted for more than 54% of the overall market share. Currently, very few countries such as the US, Russia, China, India, and Israel possess land-based ICBM. However, the presence of a large number of rocket propeller systems and military tanks have resulted in significant investments in the market, which in turn will augment the growth of this market segment during the forecast period.

Geographical segmentation and analysis of the ICBM market

• Americas
• APAC
• EMEA

The Americas is the leading region in the global ICBM market, accounting for around 40% of the overall market share during 2015. The US is the major revenue-contributing country in this region and accounts for about 34% of the global military expenditure market. Much of this region’s growth is expected to come from the rise in overall federal discretionary spending in the US during the predicted period.

Competitive landscape and key vendors

The market is highly competitive as the vendors compete on the basis of cost, product quality, reliability, and aftermarket service to gain maximum market shares. The market will also be characterized by the presence of intense competition as the key vendors are constantly providing high-quality ICBMs with latest technology and materials to the consumers. This has propelled other players to invest in new, cost-efficient, and effective ICBMs for a wide array of military purposes.

Key vendors in the market are -

• BAE Systems
• Boeing
• General Dynamics
• Lockheed Martin
• Northrop Grumman

The other prominent vendors in the market include ICBM market include China Academy of Launch Vehicle Technology, Orbital ATK, Rafael Advanced Defense Systems, Raytheon, and Rockwell Collins.

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 ICBM market?
• What are the key market trends impacting the growth of the global ICBM market?
• What are the challenges to market growth?
• Who are the key vendors in the global ICBM market?
• What are the market opportunities and threats faced by the vendors in the global ICBM 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 ICBM market?

Technavio also offers customization on reports based on specific client requirement.

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• Global Ballistic Targeting System Software Market 2016-2020

An intercontinental ballistic missile (ICBM) is a guided ballistic missile with a minimum range of 5,500 kilometres. These missiles have been primarily designed for nuclear weapons delivery and are launched into a steep, sub-orbital flight trajectory so that they spend most of their flight out of the atmosphere. According to Technavio’s analysts, Lockheed Martin, General Dynamics, and Northrop Grumman will be the some of the prominent players in this market.

The report, global intercontinental ballistic missile (ICBM) market, is part of Technavio’s aerospace and defense research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as aerospace, aerospace components, aerospace manufacturing, aerospace products, commercial aviation, defense, defense technology, general aviation, homeland security, maintenance repair and overhaul (MRO), and space. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.