Global Missiles and Missile Defense Systems Market to Reach $38.5 Billion by 2024

Strategic Insights -

The global missiles and missile defense systems market is projected to grow at a CAGR of 4.93% during the forecast period, driven by increasing demand for missile defense systems, particularly in the Asia Pacific region. The market is expected to reach $38.5 billion by 2024, up from $23.8 billion in 2014. Cumulatively, the market for missiles and missile defense systems is expected to value $347.6 billion during the forecast period.

Key Takeaways:

  • The global missiles and missile defense systems market is expected to grow at a CAGR of 4.93% during the forecast period, reaching $38.5 billion by 2024.
  • Missile defense systems are expected to account for the highest proportion of spending in the global missiles and missile defense systems market, followed by Surface-to-Air Missiles (SAMs) and Surface-to-Surface Missiles (SSMs).
  • The Asia Pacific region is expected to account for the largest share of the total global expenditure on missiles and missile defense systems, with a 35% share in the forecast period.
  • The report provides a detailed analysis of the global missiles and missile defense systems market, including market size forecasts, demand drivers, and growth stimulators.
  • The report also provides a snapshot of the spending and modernization patterns of different regions around the world, recent developments in the industry, and challenges faced by industry participants.
  • The report includes a SWOT analysis of the missiles and missile defense systems market, analysis of the key markets in each region, and details of the key programs expected to be executed during the forecast period.
  • The report provides a competitive landscape and strategic insights, including an overview of key players, their products, alliances, recent contract wins, and financial analysis.

Statistics:

  • The global missiles and missile defense systems market is expected to reach $38.5 billion by 2024, up from $23.8 billion in 2014.
  • The market is projected to grow at a CAGR of 4.93% during the forecast period.
  • Cumulatively, the market for missiles and missile defense systems is expected to value $347.6 billion during the forecast period.
  • Missile defense systems are expected to account for 35% of the global missiles and missile defense systems market in the forecast period.
  • The Asia Pacific region is expected to account for 35% of the total global expenditure on missiles and missile defense systems in the forecast period.

Sources:

  • Strategic Defence Intelligence, "The Global Missiles and Missile Defense Systems Market 2014-2024" report
  • ReportLinker, "The Global Missiles and Missile Defense Systems Market 2014-2024" press release
  • PR Newswire, "The Global Missiles and Missile Defense Systems Market 2014-2024" article