According to IMARC Group’s latest research report, titled “Anti-Ship Missile Defence System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the anti-ship missile defence system market demand. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global anti-ship missile defence system market size reached US$ 12.23 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.91 Billion by 2028, exhibiting a growth rate (CAGR) of 5.32% during 2023-2028.
Anti-Ship Missile Defence System Market Outlook:
An anti-ship missile defence system (ASMD) is a set of strategies and technologies that are designed to detect, track, and defend against incoming anti-ship missiles. It is generally used by navies to protect their ships from missile attacks by hostile forces. The key components of an ASMD system include electronic warfare systems for jamming or disrupting the guidance systems of the missiles, radar systems for detecting incoming missiles, and anti-missile systems, such as point defense systems, which are designed to intercept and destroy incoming missiles. Additionally, it uses powerful radar and sophisticated software to detect incoming missiles and can engage multiple targets simultaneously with its standard missile interceptors.
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Anti-Ship Missile Defence System Market Trends:
The global market is primarily driven by the widespread product demand from the defense sector. Coupled with the growing incidences of border threats and geopolitical tensions between several countries is providing a boost to the market. Along with this, numerous initiative undertaken by the government and the increasing investments by public and private agencies to upgrade the overall defense infrastructure is creating a positive market outlook. Moreover, continual technological advancements and the emergence of the internet of things (IoT), artificial intelligence (AI) and machine learning are significantly supporting the market on the global level. Other factors, including rapid urbanization and extensive research and development (R&D) activities conducted by key players are also positively influencing the market.
Key Market Segmentation:
Competitive Landscape with Key Players:
- BAE Systems plc
- Lockheed Martin Corporation
- Rafael Advanced Defense Systems Ltd.
- Raytheon Technologies Corporation
- Saab AB
Component Insights:
- Radar
- Missile Interceptor
Launch Platform Insights:
- Air
- Surface
- Submarine
Application Insights:
- Ballistic Missiles Defense
- Conventional Missile Defense
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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