Ground-based Aircraft and Missile Defense Systems Market: Research Consumption, Companies , Industry Report Analysis and Future Demand and Forecast: 2022-2031

Japan, Japan, Wed, 30 Mar 2022 03:13:21 / Comserve Inc. / -- The ground-based aircraft and missile defense systems market is expected to grow at a rate of over 5% during the forecast period.

The ground-based aircraft and missile defense systems market is expected to grow at a rate of over 5% during the forecast period.

- The current technological advancements in aircraft stealth technology and electronic warfare have necessitated the adoption of advanced aircraft and missile defense systems at strategically important military bases, globally, to sense, engage, and neutralize an incoming hostile asset or weapon prior to on-site detonation.
- The ongoing geopolitical rift among certain countries has led to an increase in instances of airspace violation for capturing critical surveillance data. Thus, several nations are investing in enhancing their defense capabilities by inducting new and improved variants of ground-based aircraft and missile defense systems to detect any such incursion into their airspace.

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Key Market Trends

Missile Defense Systems to Exhibit the Highest Growth Rate During the Forecast Period

Due to the increased military spending by developed and developing economies across the world, missile technology is witnessing rapid growth. Therefore, it becomes necessary for nations to safeguard their ground assets such as classified military bases, etc. from an incoming missile threat. On this note, in March 2019, the United States conducted the successful firing of two interceptor missiles to counter an inter-continental ballistic missile (ICBM). This launch was to test the upgraded capabilities of the existing Ground-based Midcourse Defense Program worth USD 67 billion. Also, in April 2020, Russia test-fired the PL-19 Nudol Missile Defense System that provides protection against ballistic missiles and works as an anti-satellite missile system.

European nations, such as Germany and France, are indigenously developing their missile defense systems to reduce the dependency on NATO and the United States. Joint programs, such as Patriot Air Defense Systems, are hindering the autonomous capability of European nations to modify or upgrade the weapon on their own. In 2020, Germany invited Lockheed Martin and MBDA to rebid for Taktisches Luftverteidigungssystem (TLVS) Air Defense Program, and a new contract is expected during mid-2020.

North America to Dominate the Market During the Forecast Period

The defense budget of the major North American countries, such as the US and Canada, witnessed a modest Y-o-Y growth over the last decade. The FY 2021 US Defense Budget request of USD 740.5 billion represents a 6.85% increase over the sanctioned spending for FY 2020. The budget supports the irreversible implementation of the National Defense Strategy (NDS), which drives the Department of Defense's (DoD's) decision-making in reprioritizing resources and shifting investments to prepare for a potential future technology-intensive conflict.

With potential adversaries, such as Israel, Russia, and China, fielding an increasingly diverse, expansive, and modern range of regional offensive missile systems that can threaten the US forces, its allies, and partners, the US DoD is actively expanding and modernizing the US regional missile defenses. The US has been testing improved variants of both the Aegis SM-3 and SM-6 missiles and fielding a new sensor, to significantly increase Aegis missile defense capabilities. The US DoD also plans to improve the capability and reliability of the Ground-based Midcourse Defense (GMD) system. The upgrades include equipping the recently deployed GBIs with an advanced booster and a more capable Exo-atmospheric Kill Vehicle (EKV). Such developments are envisioned to drive the growth prospects of the market during the forecast period.

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Competitive Landscape

The Ground-based Aircraft and Missile Defense Systems Market is a consolidated one, with major players, such as Lockheed Martin Corporation, Israel Aerospace Industries, Raytheon Technologies Corporation, Thales Group, and The Boeing Company, dominating the market.

Many key players are adopting automated manufacturing to speed up the production of aircraft and missile defense system components. Raytheon Technologies Corporation is using robots to produce LTAMDS radar for air and missile defense systems, such as Patriot, rapidly.

Market players are also focusing on collaboration with each other to ramp up production and facilitate the easy flow of technology and information. Boeing, Raytheon, and Lockheed Martin are reportedly working with the US Missile Defense Agency (MDA) to develop the Multi Object Kill Vehicle (MOKV) future ballistic missile defense technology.

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