The global 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 instabilities, changing nature of warfare, increasing defense expenditure of emerging economies, and technological advancements in missile seekers.
The missile seekers market will majorly be driven by the changing nature of warfare in the forecasted year. 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 military's reply to the Pulwama attack, where the Indian Air Force fighter planes destroyed a terrorist camp in Balakot (Pakistan) using guided missiles.
Advanced missile defense capabilities help countries in defending themselves against rocket and missile attacks. For instance, Israel's 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%. Thus, the changing nature of warfare has resulted in the increased demand for highly advanced seekers for missiles from militaries across the globe.
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). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, and the Rest of the World. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected missile seekers production and services globally in 2020.
Infrared Technology: The largest segment of the Missile Seekers market, by Technology.
The infrared technology is projected to dominate the missile seekers market during the forecast period. Infrared technology is capable of tracking the heat generated by an object. In missile guidance systems, infrared tracks the target based on the heat generated by it. Infrared is a passive type of homing technology which is effective in anti-aircraft missiles as it detects the heat generated by the jet engines of aircraft. Cross-array seekers and rosette seekers make use of infrared technology to guide missiles.
Interceptor: The fastest-growing segment of the missile seekers market, by Missile Type.
Based on the missile type, 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.
Air-to-Air: The fastest-growing segment of the missile seekers market, by Launch Mode.
Based on the launch mode, 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.
North America: The largest contributing region in the missile seekers market.
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 R&D 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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Growth Opportunities in Missile Seekers Market 4.2 Missile Seekers Market, By Launch Mode 4.3 North America Missile Seekers Market, by Technology 4.4 Missile Seekers Market, by Country
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 188.8.131.52 Geopolitical Instabilities Leading to Procurement of Advanced Missile Systems 184.108.40.206 Changing Nature of Warfare 220.127.116.11 Increasing Defense Expenditure of Emerging Economies 18.104.22.168 Technological Advancements in Missile Seekers 5.2.2 Restraints 22.214.171.124 Procurement of Conventional Warfare Systems Rather Than Advanced Precision-Guided Munition by Many Countries 126.96.36.199 High Manufacturing Cost 5.2.3 Opportunities 188.8.131.52 Miniaturization of Missiles and Their Components 184.108.40.206 Support for Researchers and Manufacturers for Developing Missile Seeker Solutions 220.127.116.11 Depleting Stock of Precision-Guided Missiles 5.2.4 Challenges 18.104.22.168 Delivering Products of Highest Standards Every Time 22.214.171.124 Regulations on the Use of Missiles 5.3 COVID-19 Impact Scenarios 5.4 COVID-19 Impact on Missile Seekers Market 5.4.1 Demand-Side Impact 126.96.36.199 Key Developments from January 2020 to August 2021 5.4.2 Supply-Side Impact 5.5 Trends/Disruptions Impacting Customers' Business 5.5.1 Development of Highly Accurate Missiles Capable of Hitting Moving Targets (Stormbreaker) 5.5.2 Development of Akash Surface-To-Air Missile Systems from Bel 5.5.3 3-D Printed Missiles 5.6 Market Ecosystem 5.6.1 Prominent Companies 5.6.2 Private and Small Enterprises 5.6.3 End-users 5.7 Pricing Analysis 5.7.1 Average Selling Price Analysis of Missile Seekers in 2020 5.8 Tariff Regulatory Landscape for Defense Industry 5.9 Trade Data 5.9.1 Trade Analysis 5.10 Value Chain Analysis of Missile Seekers Market 5.11 Porter's Five Forces Model 5.12 Technology Analysis 5.13 Use Cases
6 Industry Trends 6.1 Introduction 6.2 Supply Chain Analysis 6.2.1 Major Companies 6.2.2 Small and Medium Enterprises 6.2.3 End-users/Customers 6.3 Emerging Industry Trends 6.3.1 Reduction in Size 6.3.2 Imaging Infrared(I2R) Technology 6.3.3 Precision Guided Missile Seeker 6.3.4 Fiber-Optic Guidance Systems 6.3.5 Automatic Target Recognition (Atr) 6.3.6 Use of Synthetic Aperture Radar (Sar) in Missile Seekers 6.4 Innovations and Patents Registrations, 2012-2021 6.5 Impact of Megatrend 6.5.1 Use of Ai in Defense 6.5.2 Constant Innovation in the Defense Sector
7 Missile Seekers Market, by Technology 7.1 Introduction 7.2 Radar 7.2.1 Active Radar 188.8.131.52 High Accuracy Makes Active Radar An Attractive Technology 7.2.2 Semi-Active Radar 184.108.40.206 Demand for Anti-Aircraft Systems Will Drive the Market 7.2.3 Passive Radar 220.127.116.11 Simple Design to Drive Demand 7.3 Infrared 7.3.1 Imaging Infrared Technology to Drive Demand 7.4 Laser 7.4.1 Short-Range Missiles to Drive Demand 7.5 Multi-Mode 7.5.1 Need for High Accuracy in Unknown Terrain Will Drive Demand
8 Missile Seekers Market, by Missile Type 8.1 Introduction 8.2 Cruise 8.2.1 Need for Missiles to Travel Undetected Will Drive the Demand 8.3 Ballistic 8.3.1 Rising Border Disputes Will Fuel Growth 8.4 Conventional Guided 8.4.1 Growth in Combat UAVs Will Drive the Market 8.5 Interceptor 8.5.1 Border Tension Between Countries Will Fuel the Market
9 Missile Seekers Market, By Launch Mode 9.1 Introduction 9.2 Surface-To-Surface 9.2.1 Investment by Homegrown Companies Will Drive the Market 9.3 Surface-To-Air 9.3.1 Increase in Missile Defense System Will Drive the Market 9.4 Air-To-Air 9.4.1 Border Disputes Will Fuel the Market 9.5 Air-To-Surface 9.5.1 Increase in Overseas Combat Operations by Nato Countries Will Drive the Market