Anti-Ship Missile Defence System Market is Expected to reach USD 13,984 million by 2023 with a CAGR 6.65%

Anti-Ship Missile Defence System Market- Overview:

Anti-Ship missile defence systems offer 360 protection to naval warships and sailors from incoming missiles. This radar system are used to locate incoming missiles and an interceptor missile system to destroy those missiles. As a result of the recent advancements in directed energy technologies, there has been emphasis on development of both, high-energy laser (HEL) and high-power microwave (HPM) weapons to tackle and defeat Anti-Ship Missile Defence System.

As per MRFR analysis, the global anti-ship missile defence systems market has seen a prospective growth over the last few years, and is expected to witness a remarkable growth during the forecast period. The global anti-ship missile defence system market was valued at USD 9,014.2 million in 2016, which is expected to reach USD 13,984 million by 2023 with a CAGR 6.65% during the forecast period 2017-2023. The emergence of advanced naval defense technologies has changed the defense industry. Due to the global proliferation of progressively sophisticated arms, an imperative need to reassess the current approach to naval fleet operations has emerged. To address this need, anti-ship missile defense systems have come into existence.

As per MRFR analysis, the Global Anti-Ship Missile Defence System Market was valued at USD 9,014.2 million in 2016, which is expected to reach USD 13,984 million by 2023 with a CAGR 6.65% during the forecast period 2017-2023

Major Key Players

The major players operating in global anti-ship missile defence system market, who have adopted the strategies such as geographic expansion, mergers, and acquisitions are Lockheed Martin, Leonardo S.p.A, Raytheon, General Dynamics, Rafael Advanced Defense Systems, Saab Group, Northrop Grumman, Thales Group, MBDA and BAE Systems.

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The global anti-ship missile defense system has been segmented on the basis of component, application and region.

On the basis of components, the market has been segmented as missile interceptor and radar. Radar has accounted the highest market share of 70.67% in 2016, followed by missile interceptor. On the basis of applications, the market has been segmented as Ballistic missiles defense and Conventional Missile Defense, where, Ballistic missiles defense segment accounted for the largest share ofh 55.88% in the global anti-ship missile defense system market in 2016.

The global anti-ship missile defence system, by region, has been segmented as four major regions such as North America, Europe, Asia Pacific and Rest of the World.

North America leads in global military expenditure and technological advancements, thus generating a very high demand for anti-ship missile defence systems.Although, Canada makes some investments in the development of such advanced systems, yet the market is primarily dependent on the U.S. The region accounted for the largest share in the global market in 2016, primarily due to the presence of major manufacturers such as Lockheed Martin and Northrop Grumman in this region. In the recent years, the Asian countries have been prone to extremist and insurgent threats and territorial disputes. There have been a high number conflicts in the India-Pakistan border, India-China border along the Himalayas, the Indian Ocean, and the South China Sea. It has resulted in the deployment of large battalions of troops to such regions, so as to counter the rise in cross-border activities

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This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global anti-ship missile defence system market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.

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