Market Size of Sea Skimmer Missile Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.77 Billion |
| Market Size (2029) | USD 3.30 Billion |
| CAGR (2024 - 2029) | 3.59 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sea Skimmer Missile Market Analysis
The Sea Skimmer Missile Market size is estimated at USD 2.77 billion in 2024, and is expected to reach USD 3.30 billion by 2029, growing at a CAGR of 3.59% during the forecast period (2024-2029).
Low flying capabilities for avoiding radar detection, possessed by the sea skimmer missile, may lead to various countries acquiring sea skimmer missiles, which shall propel the growth of the market in the future. By flying low to the sea, missiles decrease the range at which the target ships can detect them by a significant amount. Flying at a lower altitude increases the amount of time the missile is under the horizon from the perspective of the target ship, making it harder to detect due to radar clutter from the sea and similar effects.
During the 2022 Russian Invasion of Ukraine, two Ukrainian-made R-360 Neptune sea-skimming cruise missiles were claimed to have struck and sank the Russian cruiser Moskva. Technological advancements, such as the usage of artificial intelligence in sea skimmer missiles, are expected to be an opportunity for the market.
Growing maritime tensions are also forcing several countries to develop and procure advanced sea skimmer missiles. However, the use of sea-skimming increases the risk of water impact with the missile before reaching the target. This factor is likely to restrain the market growth during the forecast period.
Sea Skimmer Missile Industry Segmentation
Sea skimming is a technique incorporated by most of the anti-ship missiles. The technique is primarily used to avoid radar and infrared detection during an attack. The sea skimmer missiles usually fly below 50 m above the sea surface. During an attack, a warship can detect sea-skimming missiles only once they appear over the horizon, allowing just 25 to 60 seconds of warning.
The sea skimmer missile market is segmented by launch type and geography. By launch type, the market is segmented into surface-to-surface missiles and air-to-surface missiles. The report also covers the sizes and forecasts for the market in major countries across different regions. For each segment, the market sizing and forecasts are provided in value (USD).
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| Surface-to-Surface Missiles | |
| Air-to-Surface Missiles |
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Sea Skimmer Missile Market Size Summary
The sea skimmer missile market is poised for growth, driven by the increasing demand for advanced missile systems that can evade radar detection through low-flying capabilities. This strategic advantage is prompting countries to enhance their military arsenals with sea skimmer missiles, thereby fueling market expansion. The market is witnessing technological advancements, including the integration of artificial intelligence, which presents new opportunities for growth. However, the inherent risk of water impact during low-altitude flight poses a challenge to market proliferation. The surface-to-surface missile segment is expected to dominate, supported by significant investments in military modernization and the development of next-generation weapon systems.
North America is anticipated to lead the market growth, with the United States investing heavily in naval combat systems amid rising maritime tensions. The U.S. Department of Defense's substantial budget allocations and the development of advanced missiles like the AG-84 Harpoon and AGM-158C LRASM are set to bolster market prospects. The market remains semi-consolidated, with key players such as MBDA, Saab AB, and Northrop Grumman Corporation actively engaging in partnerships and product innovations to strengthen their market presence. Ongoing developments, including the successful deployment of sea-skimming missiles by various countries, are expected to further drive market growth in the coming years.
Sea Skimmer Missile 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 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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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 Launch Type
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2.1.1 Surface-to-Surface Missiles
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2.1.2 Air-to-Surface Missiles
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.2 Europe
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2.2.2.1 United Kingdom
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2.2.2.2 France
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2.2.2.3 Germany
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2.2.2.4 Russia
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2.2.2.5 Rest of Europe
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2.2.3 Latin America
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2.2.3.1 Mexico
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2.2.3.2 Brazil
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2.2.3.3 Rest of Latin America
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2.2.4 Asia-Pacific
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2.2.4.1 China
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2.2.4.2 Japan
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2.2.4.3 India
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2.2.4.4 South Korea
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2.2.4.5 Rest of Asia-Pacific
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2.2.5 Middle-East and Africa
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2.2.5.1 United Arab Emirates
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2.2.5.2 Saudi Arabia
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2.2.5.3 South Africa
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2.2.5.4 Rest of Middle-East and Africa
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Sea Skimmer Missile Market Size FAQs
How big is the Sea Skimmer Missile Market?
The Sea Skimmer Missile Market size is expected to reach USD 2.77 billion in 2024 and grow at a CAGR of 3.59% to reach USD 3.30 billion by 2029.
What is the current Sea Skimmer Missile Market size?
In 2024, the Sea Skimmer Missile Market size is expected to reach USD 2.77 billion.
