Missile Seekers Market – Overview
The missile seekers market is anticipated to expand at a healthy growth rate for the forecast period from 2021 to 2031. Geopolitical situations in various countries that have led to increased defense budgets is resulting into adding hi-tech war weaponry for combat situations. This includes missile defense and guidance systems.
From the time of end of World War 2, superpowers of the world U.S. and Russia made significant investments in state-of-the-art weapon systems such as submarine-launched ballistic missiles, long-range rockets, and nuclear warheads among other systems.
Furthermore, since then, the number of active conflicts have also increased in various pockets of the world. Some of the ongoing conflicts include India – Pakistan dispute, Afghanistan war, and North Korea issue. The latest US-China conflict in the South China Sea may convert into a naval war. In the event of outbreak of a naval war, air-to-surface guided missiles to be shot from fighter planes to ships will play an important role to counter navy attack.
During the outbreak of COVID-19, orders and deliveries of missiles mostly remained intact. However, due to supply chain disruptions, the missile seekers market witnessed slight slowdown from where recovery is already on since the first quarter of 2021.
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Missile Seekers Market – Trends and Opportunities
The depleting stock of missiles in the US which is a key consumer of the same is anticipated to create opportunities in the missile seekers market. The recent tension between China and US which could develop into a naval war is necessitating to be prepared for such a situation. This implies the depleting stock of missiles will need to be urgently refilled to create a huge demand for missile seekers for use in those missiles. This will fuel the missile seekers market.
The use of missiles is related to mass destruction. Therefore, this requires certain regulations to be followed for the use of missiles. The use of missiles is strictly prohibited in cities where civilians and buildings are in large numbers which may fall because of missile impact. This limits the use of missiles, hence are not preferred over other weapons by most powerful countries.
The demand for infrared based missile seeker system is anticipated to create ample opportunities in the missile seekers market. This is because of a number of advantages of infrared based missile seeker system. Firstly, it can track heat generated by an object. Due to this, missile guidance systems can track target based on the heat that it generates.
Furthermore, infrared is a passive homing technology which is effective in anti-aircraft missiles. This is because it can detect heat generated by the jet engines of aircraft. For example, rosette seekers and cross-array seekers use infrared technology to guide missiles.
Missile Seekers Market – Competitive Landscape
Competition in the missile seekers market is intense with the presence of some large well-established players. Heavy investments for R&D and for investing in new technologies is a key growth strategy of players in the missile seekers market.
Large players are engaging in collaborations with research organizations and government departments for insights into advancements that is required. Detailed discussions and presentations with defense supreme helps understand to add to the impact of missiles.
Some of the key companies operating in the missile seekers market are BAE Systems, Leonardo S.p.A, Raytheon Technologies, Northrop Grumman Corporation, Boeing, Safran Group, and Thales.
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Missile Seekers Market – Regional Assessment
North America holds significant share in the missile seekers market and is anticipated to continue over the forecast period. R&D undertaken by some large players based in the U.S. and collaboration with defense departments for upgrade of combat systems fuels growth in the missile seekers market in the region.
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The following regional segments are covered comprehensively:
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2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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