Overview and Scope
Anti-ship missile defense systems (ASMD) are defense systems that are meant to protect navy vessels against anti-ship missile threats. Anti-ship missiles are guided missiles intended primarily to attack and destroy naval vessels.
Sizing and Forecast
The anti-ship missile defence system market size has grown strongly in recent years. It will grow from $12.1 billion in 2023 to $12.79 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to naval warfare evolution, naval arms race, strategic maritime chokepoints, growth in asymmetric threats, military conflict and tensions, military doctrine shifts..
The anti-ship missile defence system market size is expected to see strong growth in the next few years. It will grow to $15.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to rising maritime threats, modernization of naval forces, focus on integrated defense networks, development of hypersonic weapons, geopolitical tensions and territorial disputes.. Major trends in the forecast period include development of counter-hypersonic systems, shift to multi-layered defense, growth in maritime conflicts, integrated defense systems, focus on interception capabilities..
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Segmentation & Regional Insights
The anti-ship missile defence system market covered in this report is segmented –
1) By Component: Missile Interceptor, Radar
2) By Launch Platform: Air, Surface, Submarine
3) By Application: Ballistic Missiles Defense, Conventional Missile Defense
North America was the largest region in the anti-ship missile defense system market in 2023. The regions covered in the anti-ship missile defence system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise in the number of conflicts throughout the world is expected to propel the growth of the anti-ship missile defense system market going forward. The regional wars, increasing maritime security risks and tensions in contested waterways, necessitate the increased use of ASMD systems on navy vessels. For instance, in July 2021, according to an article published by the United Nations Office for the Coordination of Humanitarian Affairs (OCHA), a US-based organization responsible for strengthening the international response to complex emergencies and high-intensity armed confrontations, high-intensity armed confrontations increased significantly in 2020, accounting for 47% of all incidents, or nearly half of them. Therefore, the rise in the number of conflicts throughout the world is driving the growth of the anti-ship missile defense system.
Key Industry Players
Major companies operating in the anti-ship missile defense system are developing innovative products such as NSM missile to defeat heavily protected maritime targets in contested environments and can also be deployed in a secondary role for land attacks. The Naval Strike Missile (NSM) is a long-range, fifth-generation precision strike anti-ship attack cruise missile. For instance, in August 2021, the US Marine Corps, a US-based armed forces, in partnership with Raytheon Missiles & Defense, a US-based aerospace and defense company, successfully used the Navy-Marine Expeditionary Ship Interdiction Systems (NMESIS) to launch a Naval Strike Missile (NSM) at a ship in a Navy-led exercise to defeat heavily protected maritime targets in contested environments and can also be deployed in a secondary role for land attacks. The NMESIS is a ground-based anti-ship system that can be used to launch the NSM missile, which is designed to interdict a variety of surface threats at very long range. The successful launch of the NSM by the US Marines marks a significant development in anti-ship missile technology and highlights the growing importance of such systems in modern naval warfare.
The anti-ship missile defence system market report table of contents includes:
1. Executive Summary
2. Anti-Ship Missile Defence System Market Characteristics
3. Anti-Ship Missile Defence System Market Trends And Strategies
4. Anti-Ship Missile Defence System Market – Macro Economic Scenario
5. Global Anti-Ship Missile Defence System Market Size and Growth
…..
32. Global Anti-Ship Missile Defence System Market Competitive Benchmarking
33. Global Anti-Ship Missile Defence System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Anti-Ship Missile Defence System Market
35. Anti-Ship Missile Defence System Market Future Outlook and Potential Analysis
36. Appendix
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