Anti-Ship Missile Defence System Market Size was valued at USD 86.279 billion in 2023. The anti-ship missile defence market is projected to grow from USD 92.0165535 Billion in 2024 to USD 144.40 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.79% during the forecast period (2024 - 2032). Increased emphasis on maritime border security and high demand for laser anti-ship missile defense systems are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Increased emphasis on maritime border security is driving market growth.
Increased emphasis on maritime border security, high demand for laser anti-ship missile defense systems, and increased research and defense spending are some factors propelling the anti-ship missile defense systems market growth. Additionally, the anti-ship missile defense systems market is anticipated to benefit significantly from programs to upgrade and modernize naval combat systems. However, over the anticipated period, several factors, including the decline in some countries defense budgets, project delays and cancellations, and various drawbacks of conventional missile defense systems, are likely to restrain the market's ability to grow. In the forecasted period of 2021 to 2028, the anti-ship missile defense systems market is anticipated to expand at a rate of 5 points 87 percent. The anti-ship missile defense system market report from Data Bridge Market Research offers analysis and insights into the various factors anticipated to be present throughout the forecast period and their effects on the market's expansion. Anti-ship missile defense system market expansion is being accelerated by the expansion of the defense industry globally. When we talk about an anti-ship missile, we're talking about a guided missile made specifically to be used against big boats and ships. While many users employ a combination of active radar homing and inertial guidance, most anti-ship missiles are of the sea-skimming variety. These missiles can be divided into four categories surface-to-surface, ship-to-ship, longer-range anti-ship, and anti-ship cruise missiles.
One of the key factors propelling the growth of the anti-ship missile defense system market CAGR is the increased focus on maritime border security across the globe. The rapid adoption of sophisticated missile launches and defense systems for tracking, detecting, and neutralizing incoming threats encourages the rapid modernization of naval combat systems and the switch to SBX-band radar, accelerating market growth. The market is also influenced by technological developments related to missile and missile defense systems and increased research and defense spending. Additionally, the anti-ship missile defense systems market is positively impacted by increased aviation safety regulations, the development of the air defense industry, an increase in defensive spending, and escalating international tensions. Additionally, profitable opportunities for market participants are extended during the forecast period by upgrading and modernization programs for naval combat systems. Thus, driving the anti-ship missile defence market revenue.
Based on components, the anti-ship missile defense market segmentation includes missile interceptors and radar. The missile interceptors segment dominated the market. The missiles are made to deliver a large warhead precisely and over great distances. High subsonic, supersonic, or hypersonic speeds are all possible with modern cruise missiles. They can fly on a non-ballistic, extremely low-altitude trajectory and are self-navigating.
Anti-Ship Missile Defence System Application Insights
The anti-ship missile defence market segmentation based on application includes ballistic missile defense and conventional missile defense. The ballistic missile defense category generated the most income. Ballistic missile defense is used to defend a nation's population and vital infrastructure from missile attacks by adversarial countries or rogue actors. During military operations, ballistic missile defense can be used to defend military installations, personnel, and equipment against enemy missile attacks. By providing a defense against incoming missiles, ballistic missile defense can help manage crises like a missile attack or the threat of a missile attack.
Anti-Ship Missile Defence System Launch Platform Insights
Based on the launch platform, the anti-ship missile defence market segmentation includes air, surface and submarine. The air category generated the most income. Air missile launchers are vital to any modern military's defensive capabilities because they offer efficient defense against incoming missile and aircraft threats. Air missile launchers can be installed on various platforms, such as ships, land vehicles, and aircraft. They can be used in various environments as a result of their adaptability.
Figure 1: Anti-Ship Missile Defence System Market, by Launch Platform, 2022 & 2032 (USD billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia Pacific anti-ship missile defence system market will dominate this market. The rapid adoption of sophisticated missile launches and defense systems for tracking, detecting, and neutralizing incoming threats encourages the rapid modernization of naval combat systems and the switch to SBX-band radar, accelerating market growth.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ANTI-SHIP MISSILE DEFENCE SYSTEM MARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s anti-ship missile defense market accounts for the second-largest market share, influenced by technological developments related to missile and missile defense systems and increased research and defense spending. Additionally, the anti-ship missile defense systems market is positively impacted by increased aviation safety regulations, the development of the air defense industry, increased defensive spending, and escalating international tensions. Further, the German anti-ship missile defence market held the largest market share, and the UK anti-ship missile defence market was the fastest growing market in the European region.
The North American Anti-Ship Missile Defence System Market is expected to grow at the fastest CAGR from 2023 to 2032. It is anticipated to maintain its market dominance throughout the forecast period. The US's highest military spending primarily causes this. The nation is investing significantly in developing new missile systems and their defense. The budget for FY2022 allocates USD 20.3 billion and USD 10.9 billion, respectively, for the missile and munitions and missile defense programs. The nation intends to purchase the Hellfire missiles, Joint Air-to-Surface Missile (JASSM), Joint Direct Attack Munition (JDAM), Long Range Anti-Ship Missile (LRASM), and Standard Missile (SM)-6 under the Missiles and Munitions budget, while under the Missile Defense programs, the nation would purchase additional Standard Missile 3 Block IB and IIA missiles as well as the Terminal High Altitude Area Defense (THAAD) interceptors. Moreover, the US anti-ship missile defence market held the largest market share, and the CANADA anti-ship missile defence market was the fastest-growing in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the anti-ship missile defence market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The anti-ship missile defense industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the anti-ship missile defence industry to benefit clients and increase the market sector. The anti-ship missile defence industry has offered some of the most significant advantages in recent years. Major anti-ship missile defense market players, including BAE Systems Lockheed Martin Corporation, Northrop Grumman Corporation, Thales Group, Saab Group, Elbit Systems Ltd and others, are attempting to increase market demand by investing in research and development operations.
Saab Group, Saab provides the international market with industry-leading goods, services, and solutions ranging from civil security to military defense in all spheres. The market offering of Saab is extensive and includes both services with a high degree of repetition and complex systems that require significant research and development. With operations on every continent, Saab continuously creates, modifies, and enhances new technology to satisfy the varying demands of its clients.
BAE Systems Lockheed Martin Corporation, our cutting-edge defense technology at BAE Systems, safeguards vital data and infrastructure while preserving individual and public safety. We look for fresh approaches to give our customers a competitive edge in the air, sea, land, and cyberspace. We collaborate closely with local partners to support economic development by transferring knowledge, skills, and technology. We have a skilled workforce of 90,500 employees across more than 40 countries.
For Instance, August 2022 The Philippines and BrahMos Aerospace Private Ltd signed a contract to buy anti-ship versions of the BrahMos supersonic cruise missile. This $375 million contract was the missile's first export purchase.
For Instance, April 2022 The US Air Force, US Navy, and the militaries of 19 other nations, including the UK, Australia, Italy, Saudi Arabia, and Japan, have all requested AMRAAMs from Raytheon Missiles and Defense under a contract worth USD 972 million. According to Raytheon, this is the first contract to be made up entirely of AIM-120D3 and AIM-120C8 AMRAAMs with the most recent form, fit, function refresh (F3R) upgrades, which include enhanced circuit cards and other hardware in the AMRAAM's guidance section as well as updated software that will make the missiles more capable against advanced threats.
Anti-Ship Missile Defence System Component Outlook
Anti-Ship Missile Defence System Application Outlook
Anti-Ship Missile Defence System Launch Platform Outlook
Anti-Ship Missile Defence System Regional Outlook
| Attribute/Metric | Details |
| Market Size 2024 | USD 86.279 billion |
| Market Size 2024 | USD 92.0165535 billion |
| Market Size 2032 | USD 144.40 billion |
| Compound Annual Growth Rate (CAGR) | 5.79% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Application, Launch Platform and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | BAE Systems Lockheed Martin Corporation, Northrop Grumman Corporation, Thales Group, Saab Group, Elbit Systems Ltd |
| Key Market Opportunities | Increased emphasis on maritime border security |
| Key Market Dynamics | high demand for laser anti-ship missile defense systems |
Anti-Ship Missile Defence System Market Highlights:
Frequently Asked Questions (FAQ) :
The anti-ship missile defence market size was valued at USD 86.279 Billion in 2023.
The market is projected to grow at a CAGR of 5.79% during the forecast period, 2024-2032.
Asia Pacific had the largest share of the market.
The key players in the market are BAE Systems, Lockheed Martin Corporation, Northrop Grumman Corporation, Thales Group, Saab Group, and Elbit Systems Ltd.
The air category dominated the market in 2022.
The missile interceptor had the largest share of the market.
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