Anti-Ship Missile Defence System Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Anti-Ship Missile Defence System Market Analysis:

1. The market for missiles and missile defense systems is projected to experience substantial growth in the coming years. With an estimated value of USD 15.14 billion in 2023, it is expected to reach USD 19.16 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 4.82% during the forecast period of 2023–2028. Despite the challenges posed by the COVID-19 pandemic, the impact on this market was minimal, as military spending and investments in new-generation missiles remained unaffected.

2. The growth of the missile market can be attributed to the efforts of armed forces to counter emerging threats through procurement and upgrade activities. Contracts for various military equipment, including aircraft, helicopters, infantry fighting vehicles, and armored personnel carriers, equipped with launchers and warheads, are currently underway. This has created a parallel demand for countermeasures such as interceptor missiles and missile defense systems. The ongoing and anticipated contracts during the forecast period are expected to drive the market’s expansion.

3. In addition to the procurement of new weapon systems, many countries are also focusing on modernizing their existing deployed systems with advanced weapons and next-generation missiles. This has led to significant investments in enhancing military capabilities. Moreover, companies are actively engaged in the development of advanced surveillance systems that can detect and intercept stealth threats. These advancements in technology are anticipated to further boost the growth of the market for missiles and missile defense systems.

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