Market Size of Europe Missiles And Missile Defense Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.79 Billion |
| Market Size (2029) | USD 4.83 Billion |
| CAGR (2024 - 2029) | 4.94 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Missiles & Missile Defense Systems Market Analysis
The Europe Missiles And Missile Defense Systems Market size is estimated at USD 3.79 billion in 2024, and is expected to reach USD 4.83 billion by 2029, growing at a CAGR of 4.94% during the forecast period (2024-2029).
- The Russia-Ukraine conflict altered the European defense landscape. Thus, European Union (EU) and North Atlantic Treaty Organization (NATO) member states acted collaboratively and aggressively to defend political and defense interests. A progressive and strategic increase in the European defense budget and the launch of infantry support projects are expected to create demand for sophisticated new-generation missiles with advanced capabilities, thereby driving the market in focus during the forecast period.
- However, the supply chain disruptions have deleteriously affected the sourcing of critical components and materials for the design, development, and manufacturing of sophisticated missiles and missile defense systems. Furthermore, the market is also affected by the long R&D cycle and cost-intensive nature of the defense industry, which exposes market players to economic fluctuations.
Europe Missiles & Missile Defense Systems Industry Segmentation
The missiles are designed to deliver a large warhead over long distances with high precision. Modern cruise missiles can travel at high subsonic, supersonic, or hypersonic speeds. They are self-navigating and can fly on a non-ballistic, extremely low-altitude trajectory.
The European missiles and missile defense systems market is segmented by type, range, and country. By type, the market is segmented into missile defense systems, air-to-air missiles, air-to-surface missiles, surface-to-surface missiles, and surface-to-air missiles. By range, the market is segmented into short, medium, intermediate, and intercontinental. The report also offers the market size and forecasts for countries across the region (United Kingdom, Germany, France, Russia, Italy, Spain, Sweden, and Rest of Europe).
For each segment, the market sizing and forecasts have been done based on value (USD).
| Type | |
| Missile Defense Systems | |
| Air-to-Air missiles | |
| Air-to-Surface missiles | |
| Surface-to-Surface missiles | |
| Surface-to-Air missiles |
| Range | |
| Short | |
| Medium | |
| Intermediate | |
| Intercontinental |
| Geography | |
| United Kingdom | |
| Germany | |
| France | |
| Russia | |
| Italy | |
| Spain | |
| Sweden | |
| Rest of Europe |
Europe Missiles And Missile Defense Systems Market Size Summary
The European missiles and missile defense systems market is poised for growth, driven by geopolitical tensions and increased defense spending among EU and NATO member states. The Russia-Ukraine conflict has significantly influenced the defense landscape, prompting a strategic boost in defense budgets and the initiation of new military projects. This environment has created a demand for advanced missiles with sophisticated capabilities. However, the market faces challenges such as supply chain disruptions affecting the sourcing of critical components, along with the long and costly R&D cycles typical of the defense industry. Despite these challenges, the market is expected to expand, with short-range missiles anticipated to hold a significant market share due to their strategic importance in countering nearby threats.
The market is characterized by a semi-consolidated structure, with key players like MBDA, Saab AB, Lockheed Martin Corporation, THALES, and RTX Corporation leading the charge. These companies are heavily investing in research and development, often collaborating through joint ventures to leverage shared technologies and expertise. The ongoing conflict in Ukraine and border disputes have escalated the demand for defense supplies, with countries like Russia reallocating significant portions of their economies toward defense production. This shift, coupled with high energy prices, has enabled Russia to invest in military modernization and expansion. The market's growth is further supported by substantial contracts and agreements, such as those involving Saab AB and the Franco-Italian consortium Eurosam, which underscore the increasing procurement of advanced missile defense systems across Europe.
Europe Missiles And Missile Defense Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Missile Defense Systems
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2.1.2 Air-to-Air missiles
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2.1.3 Air-to-Surface missiles
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2.1.4 Surface-to-Surface missiles
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2.1.5 Surface-to-Air missiles
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2.2 Range
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2.2.1 Short
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2.2.2 Medium
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2.2.3 Intermediate
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2.2.4 Intercontinental
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2.3 Geography
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2.3.1 United Kingdom
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2.3.2 Germany
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2.3.3 France
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2.3.4 Russia
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2.3.5 Italy
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2.3.6 Spain
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2.3.7 Sweden
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2.3.8 Rest of Europe
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Europe Missiles And Missile Defense Systems Market Size FAQs
How big is the Europe Missiles And Missile Defense Systems Market?
The Europe Missiles And Missile Defense Systems Market size is expected to reach USD 3.79 billion in 2024 and grow at a CAGR of 4.94% to reach USD 4.83 billion by 2029.
What is the current Europe Missiles And Missile Defense Systems Market size?
In 2024, the Europe Missiles And Missile Defense Systems Market size is expected to reach USD 3.79 billion.
