Precision-Guided Missiles Market by Regional Growth Drivers, Future Opportunities, Trends, and Forecasts to 2026

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Precision-Guided Missiles Market by Growth
Insights, Regional Trends, Opportunities and
Forecast To 2026
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Key Insights Precision-Guided Missiles Market

• Various government organizations and industry
  participants are undergoing long-term RD
  agreements to elevate the pace of innovations in
  the precision-guided missiles market.
  Furthermore, joint ventures and collaborations
  help industry players to capture more market
  share.
• Advancements and improvements in various defense
  vehicles and fighter jets are positively
  impacting the precision-guided missiles market.
  New defense vehicles introduced in the market are
  not capable of integrating with old missiles,
  making them obsolete. To cater to this market,
  industry players require to redesign the existing
  precision-guided missiles, improving their trade
  cycle.
• Raytheon demonstrated a new air-to-air missile
  design, Peregrine, which is half the size of the
  existing weapon and has an increased speed
  maneuverability. Peregrine will be capable of
  intercepting drones, manned aircraft, and cruise
  missiles.

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Continued

• Ground launched segment in launch platforms will
  demonstrated maximum growth potential in
  precision-guided missiles market. The major
  market acquisition can be attributed to rapid
  technological advancements happening within the
  segment supported by rising demand for missile
  defense systems.
• Saudi Arabia suffered a fatal drone attack on its
  oil refineries that temporarily halved the oil
  output, impacting Saudi Arabias economy. The
  missile defense system was unable to intercept
  the incoming drones, raising significant
  questions about the technological capabilities of
  air defense system. In response to this attack,
  in January 2020, the Saudi Arabia Military
  Industries announced that they are in the process
  of developing and testing ground-based
  counter-drone systems.

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Regional Precision-Guided Missiles Market

• North America dominates the precision-guided
  missiles market by demonstrating the largest
  ancillary inventory across the globe. The
  presence of major defense players, such as
  Lockheed Martin and Raytheon, is supporting the
  North American market.
• Developed countries including the U.S., Russia,
  and the UK are majorly focusing on upgrading the
  existing PGM systems by gaining technological
  advancements, whereas developed countries
  including India, China, and Japan are engaged in
  developing indigenous manufacturing capabilities.
  This will elevate in-house manufacturing
  capabilities of the developing countries,
  positively impacting the precision-guided
  missiles market. For instance, in December 2019,
  India successfully tested the indigenously
  designed developed ballistic missile, Prithvi.

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Major Companies In Precision-Guided Missiles
Market

• Major industry players in the precision-guided
  missiles market are Almez-Antey, BAE Systems,
  China North Industries Corporation (Norinco),
  Denel Dynamics, Elbit Systems, Hanwha Group,
  Israel Aerospace Industries (IAI) Ltd, KBP
  Instrument Design Bureau, Kongsberg Gruppen,
  Leonardo S.p.A, LIG Nex 1, Lockheed Martin
  Corporation, MBDA, Northrop Grumman, Raytheon
  Company, Roketsan A.S., Saab AB, and The Boeing
  Company.

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