- The key vendors in the global missile market 2015-2019 are BAE Systems, Denel Dynamics, MBDA, Lockheed Martin and Raytheon.
London, 09 November 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global missile market 2015-2019. One of the latest developments in the market is the evolution of 3D printing. It helps in building military aircraft parts and missiles, offers design freedom, and helps lower production costs and time. This technology has resulted in cost-saving measures, weight reduction of missiles, and optimized performance of missile structures. The global missile market is expected to grow at a CAGR of 3.05% during the forecast period pf 2014-2019.
Unmanned aerial vehicles (UAVs) are seen as the next generation of missile platforms to be deployed by the defense authorities globally. These unmanned aircraft are used in force multipliers; intelligence, surveillance, and reconnaissance (ISR) platforms; target recognition; damage assessment; electronic warfare; and communication.
“Of late, there have been high investments in the procurement and development of latest missile systems by regions like the Americas and Europe,” says Faisal Ghaus, Vice President of Technavio Research.
“There have been attractive investments by developing countries like India in the R&D and procurement of missile systems. In 2015, India and Israel signed an agreement worth over $6 billion to jointly develop a medium-range surface-to-air missile (MRSAM) system for the Indian Army to replace the Russian-made missile defense systems.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Missile Market 2015-2019, please send an e-mail to media@TechNavio.com
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