Missile Seekers Market Witness the Growth of $6.8 Billion by 2026

1
Missile Seekers Market Witness the Growth of
6.8 Billion by 2026

• According to a research report "Missile Seekers
  Market by Technology (Active Radar, Semi-active
  Radar, Passive Radar, Infrared, Laser,
  Multi-mode), Missile Type (Interceptor,
  Ballistic, Cruise, Conventional), Launch Mode,
  and Region (North America, Europe, APAC, RoW)
  -
• Forecast to 2026" published by
  MarketsandMarkets, the missile seekers market
  size is projected to grow from USD 5.3 billion
  in 2021 to USD 6.8 billion by 2026, at a CAGR
  of 5.2 from 2021 to 2026. The market is driven
  by various factors, such as geopolitical instabi
  lities,

changing nature of increasing defense
warfare, expenditure of emerging economies and tec
hnological
advancements in missile seekers. Ask for Sample
Report _at_ https//www.marketsandmarkets.com/request
sampleNew.asp?id78626710 Key Market Players The
missile seekers market includes major players BAE
Systems (UK), Boeing (US), Leonardo S.p.A.
(Italy), Raytheon Technologies (US), Safran Group
(France), Thales (France), and Northrop Grumman
Corporation (US). Changing nature of warfare will
drive the demand for missile seekers The major
factor driving the missile seekers market is the
changing nature of warfare. The advancements in
technology have led to the development of new and
advanced defense systems, including air defense
systems and guided missiles for hitting moving
targets. The changing nature of warfare across
the globe has led to the acquisition of advanced
missile firing and defending capabilities by
militaries of various countries. These
militaries are increasingly engaged in
low-intensity battles. One example of the
changing nature of warfare was the Indian
militarys reply to the Pulwama attack, where
the Indian Air Force fighter planes destroyed a
terrorist camp in Balakot (Pakistan) using
guided missiles.
2
Advanced missile defense capabilities help
countries in defending themselves against rocket
and missile attacks. For instance, Israels Iron
Dome air defense system prevented more than
2,500 missile and mortar attacks with a success
rate greater than 90. The missile seeker in
such a system plays the most important role of
making sure the missiles fired by the defense
system hit the targets accurately. This fueled
the development of more advanced air defense
systems, which use ground-to- air missiles with
guided seekers, with a success rate greater than
90. The multi-mode technology is projected to
witness a higher CAGR during the forecast
period Based on technology, the multi-mode
technology are projected to grow at the highest
CAGR rate for the missile seekers market during
the forecast period. Multi-mode guidance systems
make use of two or more missile seeker
technologies to improve accuracy. Terrestrial
Guidance (TERCOM) is one such hybrid system that
uses radar, global positioning system (GPS), and
digitized scene mapping area correlator (DSMAC)
together. Multi-mode missile seeker is used for
guidance of cruise missiles like AGM- 86B (US),
C-602 (China), Hyunmoo-III (South Korea),
etc. The interceptor missiles is projected to
witness the highest CAGR during the forecast
period Based on the missile type, the interceptor
missiles is projected to grow at the highest
CAGR for the missile seekers market during the
forecast period. Interceptor missiles are
anti-ballistic missiles used to counter ballistic
missiles like intercontinental and
intermediate-range ballistic missiles launched
from any enemy country and to counter aircraft
and other missiles. S400, Arrow 2, Arrow 3,
THAAD, Patriot missile defense system, and Barak
8 are interceptor missiles used to defend against
any kind of airborne threats, such as
helicopters, aircraft, UAVs, anti-ship missiles,
and ballistic missiles. The increasing
procurement of interceptor missiles by countries
such as India, South Korea, and Israel due to
rising geopolitical instabilities is driving the
growth of the interceptor missile segment. For
instance, in 2018, the Indian government signed
a contract worth USD 5.43 billion with the
Russian government to procure five regiments of
the S-400 missiles. Air-to-air launch mode
projected to witness highest CAGR during the
forecast period The air-to-air segment is
projected to grow at the highest CAGR rate for
the missile seekers market during the forecast
period. Air-to-air missiles are launched from
aircraft, helicopters, or unmanned combat aerial
vehicles (UCAVs) to destroy enemy aircraft. The
warhead types of air-to-air missiles are
fragmentation warheads or continuous rod
warheads. These missiles detect their targets
using radars or infrared guidance systems and
can fly at a very high speed. These missiles are
long and have narrow cross-sections to reduce
drag.
3
The North American market is projected to
contribute the largest share from 2021 to
2026 North America is projected to be the largest
regional share of the global missile seekers
market during the forecast period. Major
companies, such as Raytheon Technologies,
Northrop Grumman Corporation, and SemiConductor
Devices, and small-scale private companies, such
as Excelitas Technologies Corp, Marotta Controls,
and KODA Technologies Inc., are based in the US.
These players continuously invest in the RD of
new improved missile seeker designs. The
missile seekers market in North America is driven
by the increasing need for advanced defense
systems from the US military. Missile seekers are
the systems used in missiles to guide them on
the right trajectory to accurately hit the
desired targets. Recent technological
developments in defense systems, including guided
missiles, have led to the increased demand for
more efficient missile seekers. Canada has shown
no interest in developing its own missile
systems the country relies on the US for its
defense systems, including missile systems. News
Also Covered https//www.prnewswire.com/news-rel
eases/missile-seekers- market-worth-6-8-billion-b
y-2026--exclusive-report-by-marketsandmarkets-
301388700.html
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