The Global Missiles and Missile Defense Systems Market by ICDResearch

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									                               Defense
                                 Sector Report




The Global Missiles and Missile
Defense Systems Market 2011–
2021
Reference code: DF0006SR

Published: November 2011




                           www.icd-research.com
 TABLE OF CONTENTS



TABLE OF CONTENTS

1      Introduction ......................................................................................................................... 15
    1.1 What is this Report About? ..............................................................................................................15
    1.2 Definitions .......................................................................................................................................15
    1.3 Summary Methodology ...................................................................................................................17
    1.4 About Strategic Defence Intelligence (www.strategicdefenceintelligence.com)................................18
2      Executive Summary ............................................................................................................ 19
3      Global Missile Market Size and Drivers ............................................................................. 21
    3.1 Missiles Market Size and Forecast 2011–2021 ...............................................................................21
       3.1.1      Global missiles and missile defense systems market to show positive growth ...................................... 21
    3.2 Global Missile Market – Regional Analysis ......................................................................................22
       3.2.1      North America dominates global missiles and missile defense systems market .................................... 22
       3.2.2      Demand for missile defense systems in the US to spur the market ....................................................... 24
       3.2.3      Demand in Europe expected to decline due to defense budget cuts ..................................................... 25
       3.2.4      Asia-Pacific market expected to grow at a CAGR of 4.75% .................................................................. 26
       3.2.5      Markets in Middle East to witness robust spending on missiles ............................................................ 27
       3.2.6      Latin American market expected register a CAGR of 7.34% over the forecast period ........................... 28
       3.2.7      Markets in Africa expected to decline over the forecast period ............................................................. 29
    3.3 Missiles Sub-Sector Market Size Composition ................................................................................30
       3.3.1      Surface-to-air missiles to record strong growth ..................................................................................... 30
       3.3.2      Surface-to-air missiles market expected to grow at a CAGR of 6.26% during the forecast period.......... 32
       3.3.3      Anti-ship missiles market size expected to grow at a CAGR of 4.41% during forecast period ................ 33
       3.3.4      Market for anti-tank missiles expected to increase and reach US$683 million by 2021 ......................... 34
       3.3.5      Missile defense systems market expected to grow at a CAGR of 2.3% during the forecast period ........ 35
       3.3.6      Air-to-surface missiles market expected to remain constant during the forecast period ......................... 36
       3.3.7      Market for air-to-air missiles expected to increase and reach US$2.2 billion by 2021 ............................ 37
       3.3.8      Surface-to-surface missile market to grow at a CAGR of 4.2% ............................................................. 38
    3.4 Demand Drivers and Growth Stimulators ........................................................................................39
       3.4.1      Threat posed by North Korea and Iran propel demand for missiles and missile defense systems ......... 39
       3.4.2      Modernization initiatives to spur demand for missiles and missile defense systems .............................. 40
       3.4.3      Need for increased strike range to drive demand for intercontinental missiles....................................... 40
    3.5 Defense Budget Spending Review ..................................................................................................41
       3.5.1      European capital expenditure expected to increase during the forecast period ..................................... 41
       3.5.2      Asian defense budgets expected to increase at a robust pace ............................................................. 42
       3.5.3      North American defense expenditure projected to decline marginally during the forecast period ........... 43
       3.5.4      Modernization programs likely to drive defense expenditure in South American countries .................... 44
       3.5.5      Military budgets of African countries expected to increase during the forecast period ........................... 45



The Global Missiles and Missile Defense Systems Market 2011–2021                                                                                     Page 2

© ICD Research. This product is licensed and is not to be photocopied                                                          Published: November 2011
 TABLE OF CONTENTS


       3.5.6      Defense budgets of Middle Eastern countries likely to increase during the forecast period ................... 46
    3.6 Defense Modernization Review .......................................................................................................47
       3.6.1      Financial constraints causing delays in European defense modernization programs............................. 47
       3.6.2      Defense budgets of Asian countries likely to be driven by competitive arms acquisitions ...................... 47
       3.6.3      Global economic slowdown leading to defense budget cuts in the North American region .................... 48
       3.6.4      Need to replace aging equipment driving South American defense expenditure ................................... 48
       3.6.5      Security threats increasing the defense budget of African countries ..................................................... 48
       3.6.6      Demand for air defense systems is likely to increase in the Middle East ............................................... 48
4      Industry Trends, Recent Developments and Challenges................................................. 49
    4.1 Technological Developments ..........................................................................................................49
       4.1.1      Smokeless missiles to prevent target back to firer ................................................................................ 49
       4.1.2      Anti-aircraft-carrier missile capable of being launched from mobile launch platforms ............................ 49
       4.1.3      Laser defense systems which blind missiles during flight...................................................................... 49
       4.1.4      New materials to make existing weapons more powerful ...................................................................... 49
    4.2 Market Trends .................................................................................................................................50
       4.2.1      High speed missiles with better kinetic performance in demand ........................................................... 50
       4.2.2      Missile defense systems capable of intercepting missiles in outer space being developed.................... 50
    4.3 Industry Consolidation .....................................................................................................................51
       4.3.1      Joint research and development programs expected to increase during the forecast period ................. 51
       4.3.2      Companies are entering into marketing agreements to cater to specific markets .................................. 51
    4.4 Key Challenges ...............................................................................................................................52
       4.4.1      Global defense budget cuts expected to impact the missiles and missile defense systems market ....... 52
       4.4.2      Lack of transparency and failure to achieve test objectives to cause cost overruns.
								
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