Interceptor Missile Market - Trends Forecast Till 2028

Market Overview

Interceptor Missiles Market size exceeded USD 5.1 billion in 2019 and is estimated to grow at a CAGR of 5.3% between 2020 and 2028.

The missile interceptor is a missile designed to counter incoming missiles, such as intercontinental ballistic missiles and intermediate-range missiles launched from any country

Growth due to consistent increase in defense budget across the globe and the need for advanced missile defense system to counter the modern combact to safeguard the country’s border and also increasing investments in missile defense programs by the governments of several countries, such as India, the US, and China, Saudi Arabia are some of the factors that have supported long-term expansion for Missile Interceptor Market.

The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the world. Though the industry was not affected much but still it has faced many economic problems post the covid-19 outbreak. The industry has been hit globally because of the pandemic outbreak.

Regional Analysis

Asia Pacific held over 25% of the market revenue share in 2019 supported by increasing efforts of governments to develop indigenous manufacturing capabilities catering to the defense sector. Various government organizations are liquidating significant funds to upscale the existing market. This has resulted in the rise of the interceptor missiles market in Asia Pacific with capabilities demonstrating significant technological advancement.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Lockheed Martin Corporation
• Boeing
• Raytheon Company
• Aerojet Rocketdyne
• Rafael Advanced Defense Systems Ltd
• China Aerospace Science and Technology Corporation
• Bharat Dynamics Limited
• MBDA
• Thales Group 
• Northrop Grumman Corporation

Recent Developments

• In 2021, the US Army Contracting Command issued a USD 11.62 million FMS modification contract to Northrop Grumman to install its Integrated Air and Missile Defense Battle Command System (IBCS) in Poland with an estimated completion date of 31 December 2025.
• In 2020, Boeing’s Huntsville operation was awarded a USD 249 million contract modification in support of the only operationally deployed missile defense capable of shielding the entire US against long-range ballistic missile attacks.

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Report Scope