Global Anti-Ship Missile Defense System Market to Reach US$15.1 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Anti-Ship Missile Defense System estimated at US$10.6 Billion in the year 2020, is projected to reach a revised size of US$15.1 Billion by 2027, growing at a CAGR of 5.2% over the period 2020-2027.Anti-Ship Missile Defense Radar System, one of the segments analyzed in the report, is projected to grow at a 5.1% CAGR to reach US$11.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Anti-Ship Missile Interceptor System segment is readjusted to a revised 5.7% CAGR for the next 7-year period. This segment currently accounts for a 24.9% share of the global Anti-Ship Missile Defense System market.
The U.S. Accounts for Over 29.5% of Global Market Size in 2020, While China is Forecast to Grow at a 4.9% CAGR for the Period of 2020-2027
The Anti-Ship Missile Defense System market in the U.S. is estimated at US$3.1 Billion in the year 2020. The country currently accounts for a 29.47% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.7 Billion in the year 2027 trailing a CAGR of 4.9% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR while Rest of European market (as defined in the study) will reach US$2.7 Billion by the year 2027.We bring years of research experience to this 8th edition of our report. The 176-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- BAE Systems PLC
- General Dynamics Corporation
- Leonardo SpA
- Lockheed Martin Corporation
- MBDA, Inc.
- Northrop Grumman Corporation
- Rafael Advanced Defense Systems Ltd.
- Raytheon Company
- SAAB AB
- Thales Group