Market Size of Americas Ballistic Missile Industry
Study Period | 2019-2029 |
Market Size (2024) | USD 3.15 Billion |
Market Size (2029) | USD 3.79 Billion |
CAGR (2024 - 2029) | 3.70 % |
Fastest Growing Market | Latin America |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Americas Ballistic Missile Market Analysis
The Americas Ballistic Missile Market size is estimated at USD 3.15 billion in 2024, and is expected to reach USD 3.79 billion by 2029, growing at a CAGR of 3.70% during the forecast period (2024-2029).
- The focus of the United States drives America's ballistic missile market to enhance its defense capabilities against its rivals and ensure the same for its allies and North Atlantic Treaty Organization (NATO) member nations. This has driven the demand for ballistic missiles throughout the region while also encouraging significant investments in the R&D of new missile technologies to ensure tactical superiority.
- However, the growth of the market may be impeded by the macroeconomic factors affecting the region, as the capital-intensive nature of the market may also render the market players vulnerable to economic crises.
- Emerging technologies such as artificial intelligence (AI) -powered defense systems and 3D printing of entire weapon platforms are envisioned to have a profound effect on the current offerings of the market players and affect the market dynamics in the future.
- To enhance its military technologies, the US is investing heavily in the research and development of artificial intelligence (AI). The armed forces are integrating AI for ISR applications, command and control applications, enhancement of autonomy, and improvement of the lethality of weapon stations, among others. The US DoD (Department of Defense) has made investments in hypersonic missile technology and autonomy in military and military electronics, such as sensors, integrated circuits, electronic warfare (EW), and power electronics, among others.
- The military expenditure by various nations is expected to increase, which would result in a surge in investments for the development and procurement of ballistic missiles during the forecast period. The development of nuclear ballistic missiles by the major military superpowers is expected to generate a huge demand for ballistic missiles in the future.
Americas Ballistic Missile Industry Segmentation
A ballistic missile is a rocket-propelled self-guided strategic weapon system, that uses projectile motion to deliver a warhead on the target. Typically, these missiles are segregated by range as short, medium, intermediate, and intercontinental ballistic missiles. Short-range ballistic missiles are missiles that have a range between about 150 km and 300 km. Medium-range ballistic missiles have a range between about 300 km and 3,500 km. Intermediate-range ballistic missiles have a range between about 3,500 km and 5,500 km. Intercontinental ballistic missiles have a range greater than 5,500 km.
America's ballistic missile market is segmented based on launch mode and range. By launch mode, the market has been divided into air, surface, and sub-sea. By range, the market has been divided into short-range, medium-range, long-range, intermediate-range, and intercontinental. The report also offers the market size and forecasts for four countries across the region.
For each segment, the market sizing and forecasts have been done based on value (USD).
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Americas Ballistic Missile Market Size Summary
The Americas ballistic missile market is poised for growth, driven primarily by the United States' focus on enhancing its defense capabilities and those of its allies, including NATO member nations. This strategic emphasis has led to increased demand for ballistic missiles and substantial investments in research and development of advanced missile technologies. The market's expansion is supported by the integration of emerging technologies such as artificial intelligence and 3D printing, which are expected to significantly impact the market dynamics. However, the capital-intensive nature of the market makes it susceptible to macroeconomic fluctuations, potentially hindering growth. The development of intercontinental-range missiles, favored for their long-range strategic capabilities, is a key area of focus, with countries in the region investing in research and development to maintain tactical superiority.
The market landscape is characterized by a semi-consolidated structure, with major players like BAE Systems, General Dynamics, Lockheed Martin, The Boeing Company, and Northrop Grumman holding significant market shares. These companies are actively engaging in partnerships and collaborations to enhance their technological offerings and expand their market presence. Government investments in state-owned enterprises and strategic partnerships in areas such as propulsion systems and warhead designs are facilitating the development of advanced missile systems. The ongoing geopolitical tensions, such as the Russia-Ukraine conflict and threats from China, are further driving the demand for ballistic missiles, as the US and its allies seek to bolster their defense capabilities. This environment presents substantial opportunities for market players to capitalize on the increasing military expenditure and the need for advanced missile technologies.
Americas Ballistic Missile Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Launch Mode
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2.1.1 Surface
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2.1.1.1 Surface-to-Surface
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2.1.1.2 Surface-to-Air
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2.1.2 Air
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2.1.2.1 Air-to-Surface
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2.1.2.2 Air-to-Air
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2.1.3 Subsea
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2.1.3.1 Subsea-to-Air
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2.2 Range
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2.2.1 Short-range
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2.2.2 Medium-range
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2.2.3 Intermediate-range
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2.2.4 Intercontinental
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Latin America
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2.3.2.1 Mexico
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2.3.2.2 Brazil
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2.3.2.3 Rest of Latin America
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Americas Ballistic Missile Market Size FAQs
How big is the Americas Ballistic Missile Market?
The Americas Ballistic Missile Market size is expected to reach USD 3.15 billion in 2024 and grow at a CAGR of 3.70% to reach USD 3.79 billion by 2029.
What is the current Americas Ballistic Missile Market size?
In 2024, the Americas Ballistic Missile Market size is expected to reach USD 3.15 billion.