Key vendors to focus on evaluation of military spending and buying patterns to gain market shares.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global surface-to-air missiles market in their latest research report. This report also lists five other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for surface-to-air missiles comprises of a few multinational and regional suppliers who offer a range of products and services. Modifications to existing technologies, cost, quality, and reliability are some of the criteria that vendors in the market space compete based on as the market is still in its growth phase. Suppliers in the Americas and EMEA have been in the market for over decades and dominate the market with their technical skill.
According to Moutushi Saha, a lead analyst at Technavio for research on defense, “Vendors in the market are evaluating the changing military spending and buying patterns. The development of surface-to-air missiles with higher operational ranges and those that can negate the countermeasure systems deployed on enemy aircraft can be a significant strategy for vendors to incorporate into their products to acquire and sustain business opportunities.”
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Top five vendors in the surface-to-air missiles market space
Denel SOC
Denel SOC, one of the largest manufacturers of defense-based equipment, operates in the military aerospace and landward defense environment. Denel SOC’s division Denel Dynamics is involved in the manufacture of tactical missiles, precision-guided weapons, unmanned aerial vehicle systems, and space solutions.
Key products: Umkhonto (Spear).
Thales
Thales is involved in the production and development of aerospace products and solutions. It also provides security equipment for the defense and aerospace market and maintenance, repair, and upgrades of aircraft parts. Some of its subsidiaries are Thales Air Defense, Thales Avionics, Thales Optronique, Thales Training and Simulation, and Thales Underwater Systems.
Key products: STARStreak High Velocity Missile (HVM).
MBDA
MBDA, along with its subsidiaries, designs and manufactures missiles and missile systems for army, navy, and air force divisions all over the world. The company has operational presence in the UK, France, Italy, Germany, Spain, and the US.
Key products: VL MICA and MISTRAL.
Rafael Advanced Defense Systems
Rafael Advanced Defense Systems manufactures and supplies a wide range of high-tech defense systems for air, land, sea, and space applications. As of FY2015, the company had a reported sales revenue of around USD 2 billion.
Key products: SPYDER.
Raytheon
Raytheon provides solutions for defense and other government sectors across the world. The company provides electronics, mission systems integration, and other capabilities in the areas of sensing, effects and command, communications, control and intelligence systems, and a broad range of mission support services.
Key products: SM-6, SM-3, and SM-2.
A more detailed analysis is available in the Technavio report, Global Surface-to-Air Missiles Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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