How Has The Computer Vision in Missile Defense System Market Size Evolved In Recent Years?
The missile defense system market has seen considerable growth due to a variety of factors.
• The market size for missile defense systems has seen a quick expansion in the past few years. It is projected to escalate from $31.13 billion in 2024 to $34.68 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.4%.
The prominent growth in the past can be ascribed to factors such as government expenditure and defense budgets, the proliferation of terrorism and irregular threats, treaties and accords, strategic defense initiative (SDI), and the impact of the space race.
What are the Forecasted Growth and Key Factors of the Missile Defense System Market?
The missile defense system market is expected to maintain its strong growth trajectory in upcoming years.
• The projected size of the missile defense system market reveals a significant surge in the upcoming years, escalating to $50.28 billion by 2029 with a compound annual growth rate (CAGR) of 9.7%.
Influencers for this growth in the predicted timeframe range from effects of arms control accords, geopolitical instability, nascent threats, military upgrade initiatives, to space-based defense schemes. Key trends expected during this forecast period comprise threats from intercontinental ballistic missiles (ICBM), advancements in hypersonic weapon technology, threats from drones and UAVs, progression in directed energy weapons, and the integration of artificial intelligence.
What Main Forces Are Fueling Expansion In The Missile Defense System Market?
The expected uptick in worldwide defense outlay is forecasted to propel the missile defense system market during the predicted period. The increase in defense budgets allows for the implementation of costly yet essential missile defense system technologies. Developing weapons and attack capabilities around the globe have resulted in the necessity for governments to install defense technologies to mitigate threats from foreign nations. According to the Stockholm International Peace Research Institute, a Sweden-based independent international institute focused on researching conflict, armaments, arms control, and disarmament, global military expenditure rose by 3.7% in real terms in 2022 to a record $2,240 billion. In 2022, an expected increase of 9.2%, equating to $86.4 billion, is projected in Russian military spending. Additionally, total military spending in Asia and Oceania reached $575 billion, marking a 2.7% hike compared to 2021. Accordingly, the worldwide increase in defense spending has fueled the expansion of the missile defense system market.
How Is the Missile Defense System Market segmented?
The missile defense system market covered in this report is segmented –
1) By Technology: Fire Control System, Weapon System, Countermeasure System, Command And Control System
2) By Domain: Ground, Air, Marine, Space
3) By Range: Short, Medium, Long
4) By Threat Type: Subsonic Missiles, Supersonic Missiles, Hypersonic Missiles
Subsegments:
1) By Fire Control System: Target Acquisition Systems, Tracking Systems, Fire Direction Systems, Guidance and Control Systems
2) By Weapon System: Interceptors, Anti-Aircraft Missiles, Directed Energy Weapons, Kinetic Kill Vehicles
3) By Countermeasure System: Electronic Countermeasures, Decoys, Soft Kill Systems, Hard Kill Systems
4) By Command and Control System: Integrated Command Systems, Data Link Systems, Communication Systems, Decision Support Systems
Pre-Book The Missile Defense System Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What New Trends Are Influencing the Missile Defense System Market?
Leading corporations in the missile defense system market are concentrating on the creation of innovative products such as automated self-defense systems, aiming to augment protection against increasingly sophisticated threats. These self-defense systems are integrated technologies that are designed to autonomously detect, track, and neutralize incoming threats, thereby providing an essential layer of security against potential attacks. In July 2023, BAE Systems, an aerospace firm based in the UK, unveiled the Next Generation Evolved SeaSparrow Missile Launch System (NGELS) developed for the US Navy. This missile system will use the Evolved SeaSparrow Missile (ESSM) and is created to augment naval air protection capacities against contemporary threats. The NGELS will function as a fixed-angle launcher, incorporating reliable technology from the Mk 41 Vertical Launching System, which can accommodate several types of surface-to-air and surface-to-surface defense maneuvers.
Who Are the Key Players in the Missile Defense System Market?
Major companies operating in the missile defense system market include:
• The Boeing Company
• Lockheed Martin Corporation
• China Aerospace Science and Technology Corporation (CASC)
• General Dynamics Corporation
• Honeywell International Inc.
• BAE Systems plc
• NEC Corporation
• Safran S.A.
• Thales Group
• L3Harris Technologies Inc.
• Leonardo S.p.A.
• Leidos Holdings Inc.
• Raytheon Intelligence & Space - a business segment of Raytheon Technologies Corporation
• Textron Systems Corporation
• Northrop Grumman Corporation - Mission Systems Sector
• Rheinmetall AG
• Elbit Systems Ltd.
• Israel Aerospace Industries Ltd.
• Israel Military Industries Ltd. (IMI)
• MBDA France
• Diehl Defence GmbH & Co KG
• Kongsberg Gruppen ASA
• Rafael Advanced Defense Systems Ltd.
• DRS Technologies Inc.
• Hanwha Defense Systems Co Ltd.
• LIG Nex1 Co Ltd.
• CEA Technologies SAS
What Is The Most Dominant Region In The Missile Defense System Market?
North America was the largest region in the missile defense system market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the missile defense system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
