Anti-tank missile system: Key market research findings
- The Americas dominate the market geographically
- Vehicle-mounted anti-tank missiles account for a majority of the market’s revenue
- Key vendors – Denel Dynamics, IMI, Lockheed Martin, MBDA, and Raytheon
Technavio’s market research analysts predict the global market for anti-tank missile systems to grow at a CAGR of almost 4% between 2016 and 2020. Extensive improvements made to the range and efficacy of anti-tank missiles will act as a key growth driver for this market. Of late, there have been huge investments in the procurement of missile systems by developed regions like the Americas and Europe. For instance, Science Application International Corporation (SAIC) signed a three-year contract, worth $836 million, with the US Army to provide engineering support services that would bolster the missile R&D in the Aviation and Missile Command’s Research, Development and Engineering Center (AMRDEC) in 2014. The global anti-tank missile system market was dominated by the Americas in 2015 as it accounted for almost 37% of the overall market share. Increased spending on military and defense in this region will continue to fuel the growth of the anti-tank missile system market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the anti-tank missile segments based on the missile type.
“The advent of 3D printing is a trend that reflects positively on the growth of this market. 3D printing is an evolving technology that enables users to create and design things in a way that surpasses conventional methods like mold manufacturing, computerized numerical control (CNC) cutting or canvas printing. Besides, 3D printing can print electronics directly onto 3D surfaces, such as on rocket engines, missile fins, and their guidance systems. It also reduces the size and weight of the missile system” says Abhay Kumar Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
By 2020, the vehicle-mounted segment will continue its dominance over the global anti-tank missile market by accounting for almost 63% of the overall market revenue. A vehicle-mounted anti-tank missile system is equipped on an AFV, which is designed specifically to engage enemy tanks or armored vehicles. Many of these systems are based on a tracked tank chassis, whereas the others are wheeled. Since the Second World War, anti-tank missile carriers are commonly used for supplementing long-range and short-range anti-tank capabilities.
The key vendors in the global market include Denel Dynamics, IMI, Lockheed Martin, MBDA, and Raytheon. The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving their products. Denel Dynamics, IMI, Lockheed Martin, MBDA, and Raytheon are the five major vendors in the market, which compete in terms of availability, quality, price, and technology. Their primarily focus is on the implementation of lightweight materials, electric technologies, and robust systems.
A more detailed analysis is available in the Technavio report, Global Anti-tank Missile System Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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