Nov 11, 2021   SOURCE: BusinessWire

Missile Seekers Market by Technology, Missile Type, Launch Mode, and Region - Global Forecast to 2026 - ResearchAndMarkets.com

The "Missile Seekers Market by Technology (Active Radar, Semi-active Radar, Passive Radar, Infrared, Laser, Multi-mode), Missile Type (Interceptor, Ballistic, Cruise, Conventional), Launch Mode, and Region (North America, Europe, APAC, & RoW) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global missile seekers market size is projected to grow from USD 5.3 billion in 2021 to USD 6.8 billion by 2026, at a CAGR of 5.2% from 2021 to 2026.

Infrared Technology: The largest segment of the Missile Seekers market, by Technology.

The infrared technology is projected to dominate the missile seekers market during the forecast period. Infrared technology is capable of tracking the heat generated by an object. In missile guidance systems, infrared tracks the target based on the heat generated by it. Infrared is a passive type of homing technology which is effective in anti-aircraft missiles as it detects the heat generated by the jet engines of aircraft. Cross-array seekers and rosette seekers make use of infrared technology to guide missiles.

Interceptor: The fastest-growing segment of the missile seekers market, by Missile Type.

Based on the missile type, interceptor missiles is projected to grow at the highest CAGR for the missile seekers market during the forecast period. Interceptor missiles are anti-ballistic missiles used to counter ballistic missiles like intercontinental and intermediate-range ballistic missiles launched from any enemy country and to counter aircraft and other missiles. S400, Arrow 2, Arrow 3, THAAD, Patriot missile defense system, and Barak 8 are interceptor missiles used to defend against any kind of airborne threats, such as helicopters, aircraft, UAVs, anti-ship missiles, and ballistic missiles.

Air-to-Air: The fastest-growing segment of the missile seekers market, by Launch Mode.

Based on the launch mode, the air-to-air segment is projected to grow at the highest CAGR rate for the missile seekers market during the forecast period. Air-to-air missiles are launched from aircraft, helicopters, or unmanned combat aerial vehicles (UCAVs) to destroy enemy aircraft. The warhead types of air-to-air missiles are fragmentation warheads or continuous rod warheads. These missiles detect their targets using radars or infrared guidance systems and can fly at a very high speed. These missiles are long and have narrow cross-sections to reduce drag.

North America: The largest contributing region in the missile seekers market.

North America is projected to be the largest regional share of the global missile seekers market during the forecast period. Major companies, such as Raytheon Technologies, Northrop Grumman Corporation, and SemiConductor Devices, and small-scale private companies, such as Excelitas Technologies Corp, Marotta Controls, and KODA Technologies Inc., are based in the US. These players continuously invest in the R&D of new & improved missile seeker designs.

The missile seekers market in North America is driven by the increasing need for advanced defense systems from the US military. Missile seekers are the systems used in missiles to guide them on the right trajectory to accurately hit the desired targets. Recent technological developments in defense systems, including guided missiles, have led to the increased demand for more efficient missile seekers.

Market Dynamics

Drivers

  • Geopolitical Instabilities Leading to Procurement of Advanced Missile Systems
  • Changing Nature of Warfare
  • Increasing Defense Expenditure of Emerging Economies
  • Technological Advancements in Missile Seekers

Restraints

  • Procurement of Conventional Warfare Systems Rather Than Advanced Precision-Guided Munition by Many Countries
  • High Manufacturing Cost

Opportunities

  • Miniaturization of Missiles and Their Components
  • Support for Researchers and Manufacturers for Developing Missile Seeker Solutions
  • Depleting Stock of Precision-Guided Missiles

Challenges

  • Delivering Products of Highest Standards Every Time
  • Regulations on the Use of Missiles

Companies Mentioned

  • Adani Aerospace & Defence
  • Analog Devices
  • Aselsan As
  • Bae Systems
  • Bharat Electronics Limited
  • Boeing
  • Defence Research & Development Organisation
  • Diehl Defence
  • Excelitas Technologies Corp.
  • Janos Technology LLC
  • Koda Technologies Inc.
  • Kongsberg Defence & Aerospace
  • Leonardo S.P.A
  • Marotta Controls
  • Mbda Missile Systems
  • Northrop Grumman Corporation
  • Radionix
  • Rafael Advanced Defense Systems Ltd.
  • Raytheon Technologies
  • Safran Group
  • Semiconductor Devices
  • Tata Advanced Systems
  • Thales
  • Tonbo Imaging
  • Vem Technologies Pvt. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/ifgka2