What Has Been The Historical And Current Growth Of The Anti-Tank Missile System Market?
The anti-tank missile system market has seen considerable growth due to a variety of factors.
•The market size for anti-tank missile systems has seen consistent growth in the past few years. The market size is expected to rise from $3 billion in 2024 to $3.12 billion in 2025, indicating a compound annual growth rate (CAGR) of 4.0%.
The past growth in this market can be attributed to factors such as increasing military spending, the cold war arms race, the Vietnam war and modernization, the emergence of armor-defeating warheads, and the advancement of man-portable systems.
What Is The Forecast For The Anti-Tank Missile System Market By 2029?
The anti-tank missile system market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for anti-tank missile systems is projected to consistently expand to $3.68 billion by 2029, with a 4.2% compounded annual growth rate.
The anticipated growth during this period can be linked to global conflicts and strains, the incorporation of artificial intelligence, escalated urban warfare, next-generation threats' development, and increased survivability and lethality. Significant market trends expected within this period include enhancing targeting technology, innovative developments in warhead technology, extended range and lethality, downsizing and portability, and integration of fire-and-forget systems.
What Are The Essential Drivers Behind The Growth Of The Anti-Tank Missile System Market?
The escalation in cross-border disputes is forecasted to spur the expansion of the anti-tank missile system market in the upcoming period. These disagreements, which could stem from a variety of reasons such as resources, ethnic or cultural differences, political beliefs, and historical controversies, occur when nations argue over the location of their borders and the respective rights. Such clashes have heightened the necessity for anti-tank missile systems, recognized for their effectiveness and usage in destroying armored vehicles and tanks. To illustrate, data from the Canada-based Global Migration Data Analysis Centre (GMDAC) reported in January 2024 that by the end of 2023, 75.9 million people were internally displaced due to conflict, violence, and disasters, as stated by IDMC (2024). Within this figure, 68.3 million individuals scattered across 66 countries and territories were displaced due to conflict and violence, demonstrating a 9% surge from 2022. Hence, the rise in cross-border disputes is stimulating the growth of the anti-tank missile system market.
How Is The Global Anti-Tank Missile System Market Divided Into Key Segments?
The anti-tank missile system market covered in this report is segmented –
1) By Type: Man-Portable, Vehicle-Mounted
2) By Platform: Airborne, Ground-Based
3) By Application: Defense, Homeland Security, Other Applications
Subsegments:
1) By Man-Portable: Shoulder-Fired Missiles, Tripod-Mounted Systems
2) By Vehicle-Mounted: Light Armored Vehicle Systems, Main Battle Tank Systems, Wheeled Vehicle Systems
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What Trends Are Reshaping The Future Of The Anti-Tank Missile System Market?
Prominent companies in the anti-tank missile system market are concentrating their efforts on trials of anti-tank missile systems to enhance their defensive strengths and secure a competitive advantage in the defense industry. The purpose of such flight tests is to comprehend the influence of the human factor on flight and to discriminate between errors caused by the gunner's aim and those inherent to the weapon itself. These tests are crucial given that anti-tank guided missiles employ human-guided flight, which differs from the unguided flight found in ballistic trajectories. For instance, in August 2024, the Indian government's Defense Research and Development Organization (DRDO) and the Indian Air Force (IAF) conducted tests on portable anti-tank missiles. Anti-tank missile systems are tailored to equip ground forces with a potent mechanism for tackling and neutralizing armored threats in diverse combat scenarios. These systems incorporate cutting-edge guidance technologies for improved precision and minimal collateral damage.
Who Are the Key Players in the Anti-Tank Missile System Market?
Major companies operating in the anti-tank missile system market include:
• Elbit Systems Ltd.
• General Dynamics Corporation
• Denel Dynamics
• Lockheed Martin Corporation
• MBDA Missile Systems Inc.
• KBP Instrument Design Bureau
• Rafael Advanced Defense Systems Ltd.
• Raytheon Technologies Corporation
• Roketsan A.S.
• BAE Systems
• Saab AB
• Israeli Military Industries Ltd
• Northrop Grumman
• EuroSpike GmbH
• Thales Group
• Bharat Dynamics Limited
• Diehl Defence GmbH & Co. KG
• Leonardo S.p.A.
• Nexter Systems
• Norinco Group Corporation
• Rostec State Corporation
• Samsung Techwin Co. Ltd.
• Korea Aerospace Industries Co. Ltd.
• Aselsan A.S.
• Otokar Otomotiv ve Savunma Sanayi A.S.
• CZG - Ceská zbrojovka Group SE
• Nammo AS
• Hirtenberger Defence Systems GmbH
• Mectron S.p.A.
• Eurosam S.A.S.
What are the Regional Insights into the Anti-Tank Missile System Market?
North America was the largest region in the anti-tank missile system market in 2024. The regions covered in the anti-tank missile system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
