Intercontinental Ballistic Missile (ICBM ) Market Size Is Anticipated To Grow At A USD 12.90 At 11.7% CAGR By 2021-2030.
Intercontinental ballistic missile, commonly termed as ICBM, is a guided ballistic missile that can deliver one or more nuclear warheads. It has a minimum range of 5,500 km and is faster and covers greater range when compared to other ballistic missiles, such as Medium-Range Ballistic Missile (MRBM) and Intermediate-Range Ballistic Missiles (IRBM). Modern ICBMs support Multiple Independently Targetable Re-Entry Vehicles (MIRVs), enabling a single missile to carry multiple re-entry vehicles (warheads), each of which can strike a different target. ICBMs are major nuclear deterrents, and only a few nations possess the technology to launch such long-range weaponry. They can be deployed from multiple platforms, such as missile silos, trucks, and submarines.
Owing to the increasing border threats, national security concerns, and changing nature of warfare, countries such as Russia and the US are investing in enhancing their missile arsenal. They are also concentrating on modernizing their old missiles with new propulsion systems and warheads. Concurrently, several countries, including North Korea, have joined the arms race and are consistently focusing on developing new and more destructive ICBMs. Meanwhile, countries in the Middle East are working on developing ICBMs despite nuclear sanctions.
The report aims to provide an overview of the global intercontinental ballistic missile market with detailed market segmentation by type, range, payload, and region. The global intercontinental ballistic missile market is expected to witness significant growth during the forecast period.
The global intercontinental ballistic missile market is segmented based on type, range, payload, and regions. Based on the type, the global market has been divided into land-based and submarine-based. The land-based segment is expected to account for a 55.35% share of the market during the forecast period. Based on range, the above 10,000 km segment is expected to grow at the highest CAGR during the forecast period. The rising number of territorial disputes is propelling the demand for intercontinental ballistic missiles across the globe.
Based on region, the market is segmented into North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America. The global intercontinental ballistic missile market is estimated to witness a 5.89% CAGR during the forecast period. In 2018, the market was led by Europe with 45.47% share, followed by North America and Asia-Pacific with shares of 28.91% and 21.48%, respectively. Asia-Pacific has become a lucrative region for firms that are engaged in developing intercontinental ballistic missiles and related systems, due to the increasing focus of countries, such as India and China, to develop long-range missiles.
DF-41: China is developing the DF-41, a new ICBM that is believed to be capable of carrying multiple independently targetable reentry vehicles (MIRVs). The DF-41 is expected to have a range of over 12,000 kilometers, which would allow it to reach any target in the continental United States.
The Key Players operating in the Global Intercontinental Ballistic Missile Market are Israel Aerospace Industries Ltd. (Israel), Aerojet Rocketdyne Holdings, Inc. (US), BAE Systems (UK), Boeing (US), General Dynamics Corporation (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), and Orbital ATK, Inc. (US).
Research Methodology
The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
MRFR offers report customization to valued customers. Below are the options available for customization:
In-depth profiling of additional market players (3 to 4 companies)
Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Intended Audience
Intercontinental Ballistic Missile Market Highlights:
Frequently Asked Questions (FAQ) :
The Intercontinental ballistic missile market can rise at 11.7% CAGR by 2030.
Israel Aerospace Industries Ltd. (Israel), Aerojet Rocketdyne Holdings, Inc. (US), BAE Systems (UK), Boeing (US), General Dynamics Corporation (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), and Orbital ATK, Inc. (US).
Intensifying political tension to bolster Intercontinental ballistic missile market.
EU Intercontinental ballistic missile market to expand at high pace in the study period.
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Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
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