DUBLIN, February 23, 2016 /PRNewswire/ --
The global missile market is expected to grow at a CAGR of 3.05% by 2019, according to a recent report available from Research and Markets. The report states that many countries are upgrading their defense capabilities through the manufacturing and development of advanced aircraft, which boosts the development of missile systems. The report's findings were echoed today by news of Thales SA's increased profit for 2015. The multinational company specialize in the manufacturing of missile systems, and reported a 44% surge in profit last year, spurred on by high growth in military-equipment deliveries.
Thales predicted earnings before interest and taxes of EUR 1.13-1.15 billion. However, the company today reported a 23% rise, and earnings before interest and taxes of EUR 1.22 billion. The forecast for 2016 is between EUR 1.3-1.33 billion. Thales accredited the growth to increased defense budgets in the France, Germany and the U.K., and noted that a defense spending inflection point had been reached.
Thales makes more than half of its revenue from military equipment sales, and growth is expected in a number of related markets. The global military communications market is expected to be worth USD 40 billion by 2020, as noted in a recent report. This value could be higher if western European countries continue the current high purchasing trend.
The global defense drones market is estimated to grow with a CAGR of 6% by 2020, but this market may also see growth thanks to increased defense budgets. As one of Europe's biggest defense drones manufacturers, Thales are likely to encourage the purchasing of such equipment.
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SOURCE Research and Markets