Increasing Global Military Spending
The growth is driven by internal and external security threats, territorial disputes, and modernization initiatives undertaken by armed forces across the world. Opportunities are abundant for manufacturers in the market, as the global defense industry is investing significantly in R&D to enhance the speed, accuracy, destructive powers, and stealth capabilities of ballistic missiles. However, the growth of the global ballistic missile market could be affected by the declining defense budget by developed nations and stringent technology-sharing rules. North America is expected to have the largest market share during the forecast period, followed by Asia-Pacific.
One of the key factors driving the North American ballistic missile market is the continuous demand from US military, owing to engagement in various global conflicts. China is investing heavily in ballistic missile-related technologies to deter incursions into the Chinese territory, by both aircraft and potential long-range strike weapons. Ballistic missile developments in North Korea also act as a key missile procurement driver for Japan and South Korea. India has undertaken a Ballistic Missile Defence Programme to develop and deploy a multi-layered ballistic missile defense system to protect from rising ballistic missile threats from China and Pakistan. Europe’s share of the global market is expected to decrease, owing to the economic crisis, Brexit and resulting budget cuts in many European Nations.
• October 2017: Chemring Defense has entered into a strategic alliance with US Ministry of Defense to develop a multi-effect rocket system that can fire missiles without emitting smoke. The system is expected to help avoid the detection of the missile’s origin.
• Rafael Defence systems opens missile joint venture in India.
US Office of Naval Research has been researching and developing high-density reactive materials that have the potential to make existing weapons more accurate and powerful.
Mojor Players: THALES GROUP, RAFAEL ADVANCED DEFENSE SYSTEM LTD, LOCKHEED MARTIN CORPORATION'S, BAE SYSTEMS, GENERAL DYNAMICS, NORTHROP GRUMMAN, amongst others
Reasons to Purchase the Report:
• To study the current and future market in the developed and emerging regions.
• Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
• Identify the segment that is expected to dominate the market.
• Identify the regions that are expected to witness the fastest growth during the forecast period.
• Identify the latest developments, market shares, and strategies employed by the major market players.
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Companies Mentioned are -
BAE Systems, General Dynamic, Lockheed Martin Corporation, Northrop Grumann, Thales Group, Rafael Advanced Defense Systems, Raytheon Company, Rockwell Collins, MBDA Inc
1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Assumptions
2.4 Econometric Forecast Model
3. Executive Summary
4. Key Findings of the Study
5. Market Overview and Technology Trends
5.1 Current Market Scenario
5.2 Technology Trends
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitute Products/Services
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
6. Market Dynamics
6.1.1 Increased Global Military Spending in Emerging Economies
6.2.1 Declining Defense Budget Among Developed Nations
6.3.1 Ballistic Missile Defense Programme Adopted by India
6. Global Ballistic Missile Market, Segmented by Launch Mode
7. Global Ballistic Missile Market, by Geography
7.1 North America
7.1.2 United States
7.2.3 United Kingdom
7.3.6 South Korea
7.4 Middle East & Africa
7.4.3 Saudi Arabia
7.4.4 South Africa
7.5 South America
8. Competitive Landscape
8.2 Market Share Analysis
9. Company Profiles
9.1 BAE Systems
9.2 General Dynamic
9.3 Lockheed Martin Corporation
9.4 Northrop Grumann
9.5 Thales Group
9.6 Rafael Advanced Defense Systems
9.7 Raytheon Company
9.8 Rockwell Collins
9.9 MBDA Inc.
10. Future of the Market
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.