Sep 19, 2017   SOURCE: BusinessWire

Need for Enhanced Defense Capabilities to Boost the Missile Launching System Market: Technavio

According to the latest market study released by Technavio, the global missile launching system market is expected to grow at a CAGR of close to 3% during the forecast period.

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Technavio has published a new report on the global missile launching system market from 2017-2021. ( ...

Technavio has published a new report on the global missile launching system market from 2017-2021. (Photo: Business Wire)

This research report titled ‘Global Missile Launching System Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

According to Moutushi Saha, a lead analyst at Technavio for defense research, “The global missile launching system market is expected to experience a moderate growth during the forecast period as countries are striving to enhance their respective defense capabilities to counter rising conflicts. One of the most widely used missile systems across the globe is the vertical launch system. Each VLS has many cells that can fire one or more missiles.”

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The market research analysis categorizes the global missile launching system market into three major segments based on platform. They are:

  • Airborne
  • Ground vehicle
  • Naval vessel

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Global naval vessel-based missile launching systems market

Naval vessel-based missile launching systems are fitted onto naval vessels, such as submarines, destroyers, cruisers, and aircraft carriers, which serve as platforms for the launch of multiple missiles at the same time. They are used to fire medium to long-range ballistic missiles, torpedoes, and others. Naval platforms are advantageous as they can support heavy missile launching systems.

The global naval vessel-based missile launching system market is expected to experience the highest growth rate during the forecast period mainly owing to the increased procurement and deployment of advanced naval vessels with defense capabilities.

Global ground vehicle-based missile launching systems market

Ground vehicle-based missile launching systems are fitted onto military vehicles, such as trucks, tractor units, armored vehicles, and tankers to support the launch of multiple missiles at the same time during warfare. Such launching systems are used for both medium to long-distance flying aircraft, helicopters, cruise missiles, and ballistic missiles.

The man-portable missile launching systems also fall under this category. These weapon systems are used to fire missiles against low-flying aircraft and nearby targets, and the weight of the payload is lesser when compared with those fitted on army vehicles. Ground vehicle-based missile launching systems allow launchers of varying sizes, and their angle can be adjusted as per mission requirements.

“The mobility factor of ground vehicle-based missile launching systems acts as one of the important aspects that drives the need for such systems. They provide the armed forces with the required swift transport and the flexibility to fire the missile from any location. Therefore, many such systems are being tested and procured to gain superior defense capabilities,” says Moutushi.

Global airborne missile launching system market

Airborne missile launching systems are fitted onto aircraft such as fighter jets and attack helicopters. These aircraft-launched missile systems usually serve as platforms for the launch of single or dual missiles at the same time. Airborne missile launching systems have weight limitations and, therefore, restrict the type of missiles that can be fired, mainly due to the additional aircraft payload factor.

One of the most effective strategies to attack a hostile country or enemy camp is via air. It is imperative for every country to increase their aerial attack capabilities to gain superiority in combat operations. Therefore, countries are emphasizing on the procurement and construction of aerial missile launching systems. For instance, India, as a part its USD 3.1 billion deal with the US will receive 245 Stinger air-to-air missiles with launchers and engineering support. These Stinger missiles, developed by Raytheon, are designed to be installed on ground (MANPADS) and aerial platforms (fixed- or rotary-wing aircraft).

The top vendors highlighted by Technavio’s market research analysts in this report are:

  • BAE Systems
  • Lockheed Martin
  • Larsen & Toubro (L&T)
  • Northrop Grumman
  • Raytheon

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