Who are the key players in Naval Missiles And Missile Launch Systems Market?

Lockheed Martin Corporation, Elbit Systems Ltd., Kongsberg Gruppen ASA, BAE Systems plc and RTX Corporation are the major companies operating in the Naval Missiles And Missile Launch Systems Market. Read More

Which is the fastest growing region in Naval Missiles And Missile Launch Systems Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Naval Missiles And Missile Launch Systems Market?

In 2024, the North America accounts for the largest market share in Naval Missiles And Missile Launch Systems Market. Read More

What years does this Naval Missiles And Missile Launch Systems Market cover, and what was the market size in 2023?

In 2023, the Naval Missiles And Missile Launch Systems Market size was estimated at USD 1.43 billion. The report covers the Naval Missiles And Missile Launch Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Naval Missiles And Missile Launch Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Naval Missiles And Missile Launch Systems Market Size

Market Size of Naval Missiles And Missile Launch Systems Industry

Naval Missiles And Missile Launch Systems Market Summary

Study Period	2019-2029
Market Size (2024)	USD 1.5 Billion
Market Size (2029)	USD 1.87 Billion
CAGR (2024 - 2029)	4.44 %
Fastest Growing Market	North America
Largest Market	North America
Major Players *Disclaimer: Major Players sorted in no particular order

Naval Missiles and Missile Launch Systems Market Analysis

The Naval Missiles And Missile Launch Systems Market size is estimated at USD 1.5 billion in 2024, and is expected to reach USD 1.87 billion by 2029, growing at a CAGR of 4.44% during the forecast period (2024-2029).

The growing maritime disputes in the South China Sea and the Mediterranean Sea among various countries are propelling the investments towards procurement and deployment of new naval vessels. The naval forces are currently modernizing their naval fleet by upgrading their existing naval fleets or replacing their aging fleets with newer-generation vessels. The growing demand for new naval vessels is expected to propel the demand for missile and missile launch systems in the coming years.
Various countries globally are also investing in the procurement of new-generation missile systems that can precisely eliminate the targets using a position-based guidance system to track and neutralize seaborne and ground-based threats. Similarly, the naval forces are also modernizing the missile firing systems on surface ships and submarines. This is anticipated to drive the growth of the market during the forecast period.
The market for missiles may face limitations due to the high cost associated with their development. The sophisticated guidance systems and rockets required for missiles necessitate complex technologies that add to their overall expense. Furthermore, the inability of missiles to change direction once launched can make them susceptible to interception by anti-missile systems, which could have an adverse impact on the market.
However, the increasing implementation of advanced technologies in military and naval forces is expected to bring forth a lucrative opportunity in the market. For instance, the integration of artificial intelligence (AI) in naval missiles and missile launch systems is anticipated to accelerate market growth. AI in naval missiles and missile launch systems is capable of analyzing historical data and assessing various scenarios to equip naval commanders with enhanced decision-making capabilities. Search factors or expected to drive the demand for this market during the forecast period.

Naval Missiles and Missile Launch Systems Industry Segmentation

The naval missiles and missile launch systems market includes the procurement and upgrade of missiles, as well as modernization plans of the naval forces and integration of advanced missile launch systems onboard naval vessels.

The naval missiles and missile launch systems market is segmented by systems, by application, and by geography. By systems, the market is segmented into missile and launch systems. By application, the market is segmented into surface vessels and submarines. The report also covers the market sizes and forecasts for the naval missiles and missile launch systems in major countries across different regions.

For each segment, the market size is provided in terms of value (USD).

Systems
		Missiles
		Launch Systems

Application
		Surface Vessels
		Submarines

Geography

North America
	United States
	Canada

Europe
	United Kingdom
	France
	Germany
	Russia
	Rest of Europe

Asia-Pacific
	China
	India
	Japan
	South Korea
	Rest of Asia-Pacific

Latin America
	Brazil
	Rest of Latin America

Middle-East and Africa
	United Arab Emirates
	Saudi Arabia
	Egypt
	Rest of Middle-East and Africa

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Naval Missiles And Missile Launch Systems Market Size Summary

The naval missiles and missile launch systems market is poised for growth, driven by increasing maritime disputes and the subsequent need for countries to modernize their naval fleets. The demand for new naval vessels is expected to boost the market for missile systems, as nations invest in advanced technologies to enhance their maritime capabilities. The integration of artificial intelligence in missile systems is anticipated to further propel market expansion by improving decision-making and targeting precision. Despite the high costs associated with developing sophisticated missile systems and potential vulnerabilities to interception, the market is expected to benefit from ongoing military modernization efforts and rising defense expenditures globally.

The market is characterized by a consolidated landscape with a few key players dominating the scene, such as RTX Corporation, Lockheed Martin Corporation, and BAE Systems plc. These companies, along with local players like the Defence Research and Development Organisation and ROKETSAN A.S., are actively developing new missile systems to meet the growing demand. The North American region, particularly the United States, leads in market share due to substantial military spending, which supports extensive naval fleet modernization programs. This robust investment in defense is expected to drive the procurement of advanced missile systems, further solidifying the market's growth trajectory during the forecast period.

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Naval Missiles And Missile Launch Systems Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Overview
2. 1.2 Market Drivers
3. 1.3 Market Restraints
4. 1.4 Porter's Five Forces Analysis
  1. 1.4.1 Bargaining Power of Buyers/Consumers
  2. 1.4.2 Bargaining Power of Suppliers
  3. 1.4.3 Threat of New Entrants
  4. 1.4.4 Threat of Substitute Products
  5. 1.4.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION
1. 2.1 Systems
  1. 2.1.1 Missiles
  2. 2.1.2 Launch Systems
2. 2.2 Application
  1. 2.2.1 Surface Vessels
  2. 2.2.2 Submarines
3. 2.3 Geography
  1. 2.3.1 North America
    1. 2.3.1.1 United States
    2. 2.3.1.2 Canada
  2. 2.3.2 Europe
    1. 2.3.2.1 United Kingdom
    2. 2.3.2.2 France
    3. 2.3.2.3 Germany
    4. 2.3.2.4 Russia
    5. 2.3.2.5 Rest of Europe
  3. 2.3.3 Asia-Pacific
    1. 2.3.3.1 China
    2. 2.3.3.2 India
    3. 2.3.3.3 Japan
    4. 2.3.3.4 South Korea
    5. 2.3.3.5 Rest of Asia-Pacific
  4. 2.3.4 Latin America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Rest of Latin America
  5. 2.3.5 Middle-East and Africa
    1. 2.3.5.1 United Arab Emirates
    2. 2.3.5.2 Saudi Arabia
    3. 2.3.5.3 Egypt
    4. 2.3.5.4 Rest of Middle-East and Africa

Naval Missiles And Missile Launch Systems Market Size FAQs

How big is the Naval Missiles And Missile Launch Systems Market?

The Naval Missiles And Missile Launch Systems Market size is expected to reach USD 1.5 billion in 2024 and grow at a CAGR of 4.44% to reach USD 1.87 billion by 2029.