Missile Guidance System Market size is set to grow by USD 645.4 million from 2024-2028, Accelerating development and procurement of missiles boost the market, Technavio

NEW YORK, June 5, 2024 /PRNewswire/ -- The global missile guidance system market size is estimated to grow by USD 645.4 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.69%  during the forecast period. 

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Market Driver

The global missile guidance system market is experiencing significant growth due to the development of advanced hypersonic missile systems. Countries are investing in these systems to enhance their countermeasure capabilities against cruise missiles. Notable projects include India and Russia's collaboration on BrahMos II, a Mach 7 hypersonic missile, and Russia's 3M22 Zircon anti-ship missile.

Both projects aim to improve guidance systems, incorporating hybrid INS/GPS and mid-course inertial guidance with active radar homing and GPS systems, respectively. These advancements are expected to increase the precision and effectiveness of hypersonic missiles, driving market growth. 

The Missile Guidance System market is currently experiencing significant growth due to technological advancements in military technology. Navigation and tracking technologies, such as Inertial Navigation Systems (INS) and Global Positioning Systems (GPS), play a crucial role in missile guidance. These systems enable accurate targeting and homing capabilities. Additionally, the use of Command and Control (C2) systems and communication technologies enhances the overall effectiveness of missile systems.

Combat management systems and seeker technologies are also essential components of missile guidance systems. The integration of artificial intelligence and machine learning algorithms is a trending development in this field, aiming to improve target recognition and engagement accuracy. Overall, the Missile Guidance System market is expected to continue its growth trajectory due to ongoing military modernization efforts and advancements in technology. 

Market Challenges

•         The Boeing-developed Small Diameter Bomb (SDB) system, a long-range, precision-guided weapon, poses challenges to the growth of the global missile guidance system market. With a range exceeding 60 nautical miles, the SDB system is integrated with advanced GPS and INS technology.

•         The BRU-61/A Carriage System houses four pneumatic ejectors and allows one station to carry four weapons. The SDB-Focused Lethality Munition variant features low collateral damage. Externally, it can be mounted on F-15E smart stations, and internally, on UCAVs, bombers, and select fighter jets. The increasing adoption of SDB and railguns may impact market expansion during the forecast period.

•         The Missile Guidance System market faces several challenges in the defense industry. Defense contracts require advanced technology for effective missile guidance systems. Military systems must be able to navigate and track targets in various environments, including urban areas and at sea.

•         Additionally, systems must be able to adapt to changing conditions and countermeasures. The combination of complexity and the need for high precision makes the development and implementation of these systems a significant challenge.

•         Furthermore, the cost of manufacturing and maintaining these systems is a major concern for governments and military organizations. The use of advanced technologies such as artificial intelligence and machine learning can help address some of these challenges, but also introduce new complexities and costs.

•         Overall, the Missile Guidance System market requires continuous innovation and improvement to meet the demands of the defense industry.

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Segment Overview 

1. Product Type
• 1.1 Command guidance system
• 1.2 Homing guidance system
• 1.3 Beam rider guidance system
• 1.4 Inertial and GPS guidance system
2. Application 
• 2.1 Cruise missiles
• 2.2 Ballistic missile
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Command guidance system-  The command guidance missile system market is driven by the advantage of requiring minimal space on the missile for guidance instructions. This is due to external transmission of commands, enabling larger warheads. The most common method is the wire link between the launcher and missile, used in anti-tank missiles up to 2.5 miles. The market is expected to grow significantly due to this efficient guidance technology.

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Research Analysis

The Missile Guidance System market encompasses advanced technologies such as Inertial Navigation Systems, Precision Guidance, and Autonomous Guidance, which are integral to the functionality of Guided Missiles and Smart Weapons. These systems utilize various sensors including Radar Systems, Infrared Systems, Laser Guidance, and Electro-Optical Systems for effective Target Tracking and Missile Defense.

Satellite Navigation systems provide additional positioning and navigation capabilities. Missile Navigation relies on a combination of these technologies to ensure accurate and reliable guidance for military applications. The market for Missile Guidance Systems continues to grow due to the increasing demand for advanced missile defense systems and the development of new seeker technologies.

The Missile Guidance System market encompasses advanced technologies and techniques for navigating and controlling the flight path of missiles towards their targets. These systems utilize a combination of technologies such as inertial navigation, radar, and satellite guidance to ensure accuracy and precision. The market is driven by increasing defense budgets and the need for advanced missile systems to enhance national security.

Additionally, the integration of artificial intelligence and machine learning algorithms in missile guidance systems is expected to drive market growth. The market also faces challenges such as high development costs and the need for continuous innovation to stay ahead of adversaries. Overall, the Missile Guidance System market is a critical component of modern defense systems and is expected to grow significantly in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product Type
• Command Guidance System
• Homing Guidance System
• Beam Rider Guidance System
• Inertial And GPS Guidance System
• Application
• Cruise Missiles
• Ballistic Missile
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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SOURCE Technavio