Global Cruise Missile Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2022-2027 | EMR Inc.

May 18 12:27 2022
Global Cruise Missile Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2022-2027 | EMR Inc.
Global Cruise Missile Market Report and Forecast 2022-2027
Global Cruise Missile Market To Be Driven By Rising Military Investments In The Forecast Period Of 2022-2027

The new report by Expert Market Research titled, ‘Global Cruise Missile Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global cruise missile market, assessing the cruise missile market based on its segments like launch platforms, ranges, speeds, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

  • Forecast CAGR (2022-2027): 13.5%

Geographically, North America occupies a significant share in the market for cruise missiles. This can be ascribed to the growing cruise missile market in the US. The United States account for the largest share of investments in technologically advanced weapon systems to counter the increasing capabilities of other powerful countries like China and Russia. Further, the growth in the region is being aided by increasing government budget allocation on military applications and the involvement of the private sector in weapon manufacturing.

Industry Definition and Segmentation

Cruise missiles refer to guided and unmanned missiles, which are designed to deliver large warheads with superior precision. These missiles can self-navigate, fly on a non-ballistic and low trajectory, and travel at supersonic and hypersonic speeds. Advanced cruise missiles are equipped with various technologies including terrain mapping, global positioning systems (GPS), and gyroscopes to maintain a pre-programmed flight path.

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Based on the launch platform, the market is divided into:

  • Air
  • Surface Combatants
  • Submarine
  • Land

The market, based on range, can be classified into:

  • Short-range Missiles
  • Medium-range Missiles
  • Long-range Missiles

On the basis of speed, the market divisions include:

  • Subsonic
  • Supersonic
  • Hypersonic

The regional markets for cruise missile include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The growth in the global market for cruise missiles is being forwarded by the growing influence of missiles in modern warfare strategy applications. From a strategic outlook, countries in possession of advanced cruise missiles have an upper hand in international conflicts and thus have a higher potential of keeping their adversaries at bay. As a result, increasing investments in military and defence is likely to augment the demand for cruise missiles, hence contributing to the market growth. In addition to this, the increase in cross-border hostilities and increasing terrorist activities are additional factors anticipated to drive the growth of the market in the coming years. Moreover, the market growth is further expected to benefit from the increasing integration of digital technologies such as artificial intelligence to augment automation. Further advances in 3D printing capabilities are also likely to pave the way for more economical manufacturing during the forecast period.

Key Market Players

The major players in the market are Lockheed Martin Corporation, Raytheon Technologies Corporation, Defense Research and Development Organization (DRDO), The Boeing Company, MBDA Missile Systems Inc., Roketsan Roket Sanayii ve Ticaret A.S., and Avibras Indústria Aeroespacial S/A, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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