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The missile launching system market size is estimated to grow at a CAGR of 4.57% between 2023 and 2028. The market size is forecast to increase by USD 4,448.14 million. The growth of the market depends on several factors such as the increasing use of MANPADS, the rise in the development and procurement of missiles, and the modification of missiles with new warheads. Besides analyzing the current market scenario, our report examines historical data from 2018 - 2022.
This report extensively covers market segmentation by platform (airborne, ground, and naval), type (tilt emission, vertical launch, and horizontal emission), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
Missile Launching System Market Forecast 2024-2028
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
MANPADS are SAM systems that are light in weight and can be carried and operated by a single person. The system consists of a missile inside a disposable tube, a gripstock, sights, and a battery to charge the missile. The need for MANPADS has grown substantially since its inception, and they have been used extensively by soldiers.
One of the major reasons propelling the growth of MANPADS is their attack capabilities toward low-flying aircraft that are typically deployed for bombing, strafing, surveillance, extracting and resupplying enemy troops, or information gathering. Several countries are mainly focusing on investing in new MANPADS. Hence, such factors will drive the growth of the global missile launching market during the forecast period.
There are several reasons for the increase in long-range missile demand. Preferably, countries view long-range missiles as a vital deterrent against potential rivals. Long-ranged missiles allow countries to project power internationally, delivering a strategic advantage in any conflict crisis. Second, the perception of a threat from adversaries or outside actors encourages countries to invest in high-tech systems that can accurately hit targets at great distances.
Furthermore, as conflicts evolve to include non-conventional warfare or non-conventional threats, the need for precision-guided long-range missiles becomes even more essential. Asymmetrical warfare and the emergence of terrorist groups need missile systems that are more precise, resilient, and flexible to deal with these changing threats. Hence, the rising demand for long-range missile systems will drive the growth of the global missile launching system market during the forecast period.
The term stringent regulations is used to define a set of rules and norms that are set by various countries and international organizations in order to guarantee the safety, security, and compliance of the production, trade, and use of rocket launching systems. The goal of these regulations is to impede the proliferation of weapons and the unauthorized utilization of missile technologies in order to protect global security.
However, they can be a hindrance to the development and production of missile launching systems, as compliance with the strict regulatory requirements can lead to a decrease in the industry's competitiveness. Hence, such factors may impede the growth of the global missile launching system market during the forecast period.
The airborne segment will account for a major share of the market's growth during the forecast period. An aircraft rocket launch system is a type of missile launcher that may be launched and operated by an aircraft. The market segment for airborne missile launching systems is of considerable importance due to the growing demand for sophisticated aerial defense capabilities and the expansion of air-based activities around the globe.
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The airborne segment was valued at USD 6,456.99 million in 2018. The airborne missile launching systems allow planes to fire missiles, giving countries a big advantage in conflicts and helping them protect their borders. Airborne missile launching systems are fitted onto aircraft such as fighter jets and attack helicopters. Therefore, countries are emphasizing the procurement and construction of aerial missile launching systems. These features and factors under the airborne missile launching system will, therefore, drive the growth of the market in focus during the forecast period.
Based on the type, the market has been segmented into tilt emission, vertical launch, and horizontal emission. The tilt emission?segment will account for the largest share of this segment. The tilt emission segment concentrates on the various types of tilt emission (TEM) systems available in the market. In missile launching systems, tilt emission technology is utilized to allow the launch of missiles at an angle as fought to a straight course. Tilt emission systems deliver enhanced operational flexibility and improved missile effectiveness. These systems allow missiles to be fired from a fixed point at a fixed angle, either from a ground-mounted launcher or from a naval vessel. Consequently, these features of tilt emission systems will drive the growth of the global missile launching system market during the forecast period.
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APAC is estimated to contribute 36% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. China, India, Japan, and Australia are among the essential countries that will drive the missile launching system market in APAC. APAC is experiencing increasing territorial disputes between neighboring countries. The Chinese Navy, in the wake of rising tensions in the South China Sea, is currently working on developing a kill Weapon to target and destroy aircraft carriers deployed by foe countries anywhere near the tension zone.
Moreover, the huge size of the missile enables it to carry a warhead big enough to inflict considerable damage on large naval vessels. Hence, the growing dispute among countries in the region and the growing development of missiles is anticipated to propel the growth of the regional missile guidance system market during the forecast period.
The outbreak of COVID-19 in 2020 had a negative impact on the missile launching system market in APAC. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of international trade activities. The region witnessed significant growth in 2022, due to raised development of advanced missiles. This is anticipated to continue during the forecast period, thereby driving the growth of the regional missile launching system market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
ASELSAN AS, Bharat Dynamics Ltd., DRDO, Elbit Systems Ltd., General Dynamics Corp., General Motors Co., Israel Aerospace Industries Ltd., Kongsberg Gruppen ASA, L3Harris Technologies Inc., Leonardo Spa, Lockheed Martin Corp., Northrop Grumman Corp., Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corp., Roketsan AS, Rostec, Thales Group, The Boeing Co., and Larsen and Toubro Ltd.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The missile launching system market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Missile Launching System Market Scope |
|
Report Coverage |
Details |
Page number |
181 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.57% |
Market Growth 2024-2028 |
USD 4,448.14 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.65 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, India, Russia, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ASELSAN AS, BAE Systems Plc, Bharat Dynamics Ltd., DRDO, Elbit Systems Ltd., General Dynamics Corp., General Motors Co., Israel Aerospace Industries Ltd., Kongsberg Gruppen ASA, L3Harris Technologies Inc., Leonardo Spa, Lockheed Martin Corp., Northrop Grumman Corp., Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corp., Roketsan AS, Rostec, Thales Group, The Boeing Co., and Larsen and Toubro Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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