"Smart Market Solutions to Help Your Business Gain Edge over Competitors"
An Anti-Ship Missile Defense System (ASMD) is a sophisticated self-defense military system which is designed to detect, track, and intercept incoming anti-ship missiles launched by potential adversaries. These systems are mainly used to protect naval assets such as ships, submarines, and other maritime platforms from being attacked and destroyed by enemy missiles. ASMDs comprises a combination of sensors, command and control systems, and defensive weapons to counter the anti-ship missile threat. The anti-ship missile defense system market size is expected to display strong growth during the forecast period of 2024-2032.
The including increasing demand for naval vessels owing to various reasons such as protection of naval assets, rising threats, modernization and growing geopolitical tensions are expected to drive the growth of anti-ship missile defense market. For instance, in November 2022, according to estimates from the Pentagon's annual China military report, the People's Liberation Army Navy (PLAN) is projected to expand its fleet from 340 to 400 vessels by 2025. The PLAN has been undergoing a transformation, aiming to replace its older generation platforms with larger, more advanced multi-role combatants.
As of 2021, the majority of the PLAN's fleet consists of modern multi-role platforms equipped with advanced weaponry and sensors designed for anti-ship, anti-air, and anti-submarine operations. This evolution signifies the PLAN's growing modernization and adaptability as a naval force. Additionally, the development of advanced technologies such as artificial intelligence, machine learning, and advanced sensors is expected to catalyze the market growth over the coming years.
However, high cost and integration challenges are predicted to hinder the market growth. The anti-ship missile defense system market is highly competitive, with major players including Raytheon Technologies Corporation, Thales Group, and others.
The Russia-Ukraine war has significantly impacted the anti-ship missile system. The conflict has increased demand for the anti-ship missile defense system as Ukraine and other countries in the region seek to protect their naval vessels from potential attacks by Russia. The conflict has also led both sides to rapidly deploy new anti-missile systems, with Russia deploying advanced missile systems such as the Bastion-P and Bal-E systems in the region.
It has spurred the development of new anti-ship missile defense technologies, such as the Ukrainian Neptune Missile system, capable of striking targets up to 300 kilometers away. The conflict has effective strategies and implications for using anti-ship missile systems in naval warfare, as both sides have demonstrated the potential effectiveness of these systems in the region. Overall, the conflict has fosters the market growth owing to increased demand and development of new technologies.
The anti-ship missile defense system market is segregated based on component as sensors, command and control (C2) system, weapon system, communication and data links, defense weapons, and others. Based on the Launch Platform, the market is segmented into air, surface, and submarine. Based on application, the market is bifurcated into ballistic missiles defense and conventional missile defense.
The report will cover the following key insights:
To gain extensive insights into the market, Request for Customization
North America is expected to dominate the anti-ship missile defense system market over the forecast period. The development of the market in North America is mainly driven by technological advancements and increased investments in defense research and development. Asia Pacific is also predicted to grow significantly due to rise in defense budgets and growing political tensions between the countries in that region.
By Component | By Launch Platform | By Application | By Geography |
|
|
|
|
US +1 833 909 2966 ( Toll Free )