Sea Skimmer Missile Market Sets New Record, Projected at USD 2.7 Billion By 2032 at 6.9% CAGR
The increasing demand for maritime security is expected to boost the demand for sea skimmer missiles.
PORTLAND, OR, US, February 16, 2024 /EINPresswire.com/ -- Sea Skimmer Missile Market by Type (Surface-to-Surface Missiles, Air-to-Surface Missiles), by Application (Defense, Homeland Security): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global sea skimmer missile market generated $1.5 billion in 2022, and is anticipated to generate $2.7 billion by 2032, witnessing a CAGR of 6.9% from 2023 to 2032.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/A10671
Sea skimmer missiles have a shorter range than other anti-ship missiles. They may also have a limited payload capacity, limiting the number of warheads they may carry. Furthermore, flying at low altitudes and near to the water surface places additional strain on the missile's propulsion system, resulting in increased fuel consumption. This could affect the missile's durability and mission capability. These factors are anticipated to limit market growth in the upcoming years.
The market for sea skimmer missiles is predicted to rise as a result of advancements in missile technology, such as enhanced range, precision, and guidance systems. Countries' naval alliances and cooperation may also result in the collaborative purchase of sea skimmer missiles to strengthen overall maritime security initiatives. In order to establish their presence and safeguard their marine interests, emerging economies with growing navies may consider to purchase cutting-edge maritime armaments, such as sea skimmer missiles. These factors are projected to boost market growth for sea skimmer missile in the upcoming years.
๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
Israel Aerospace Industries Ltd.
BrahMos Aerospace
SAAB AB
Kongsberg Gruppen AS
Northrop Grumman Corporation
Defence Research And Development Organisation
Raytheon Company
Boeing Company
MBDA
Orbital ATK Inc.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/sea-skimmer-market/purchase-options
The surface-to-surface missiles sub-segment generated the highest market share of 63.4% in 2022 and is predicted to grow at the highest CAGR of 7.3% by 2032. The continuous advancements in surface-to-surface missile technology is the major factor driving the growth of the sub-segment. in the last few years. Besides, these types of missiles can fly directly to the target, or move towards it from a distance, and are thus high in demand.
The defense sub-segment accounted for the major share of 58.7% in the sea skimmer missile market in 2022 and is expected to grow at a the highest CAGR of 7.3% during the forecast period. The dominant growth of the sub-segment is mainly due to the rising threat of smuggling, piracy, and terrorism in maritime areas. Sea skimmer missiles are primarily used as a deterrent against their targets. Besides, increasing military expenditure from various countries across the globe is driving the growth of the defense sub-segment.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
Region: North America Market to Hold Majority of Market Share by 2032
The North America region accounted for the highest share of 35.2% in the global sea skimmer missile market in 2022 and is expected to continue to maintain its dominance during the forecast period. Increased investment in the development of sea skimmer missiles and advancements in missile technology, such as enhanced range, speed, and guidance systems are the major factors predicted to boost the regional market growth by 2032. Besides, the increasing funding by key market layers of the region to deliver novel and more advanced sea skimmer missile solutions is another factor boosting the market growth.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A10671
The report offers a comprehensive analysis of the global sea skimmer missile market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porterโs five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐
Based on type, the surface-to-surface missiles sub-segment emerged as the global leader in 2022 and is anticipated to be the fastest-growing during the forecast period.
Based on application, the defense sub-segment emerged as the global leader in 2022 and the homeland security sub-segment is anticipated to be the fastest-growing during the forecast period.
Based on region, the North America market registered the highest market share in 2022 and is projected to maintain its position during the forecast period.
๐๐ก๐๐๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ ๐ซ๐๐ฅ๐๐ญ๐๐ ๐ฌ๐ญ๐ฎ๐๐ข๐๐ฌ ๐ฉ๐ฎ๐๐ฅ๐ข๐ฌ๐ก๐๐ ๐๐ฒ ๐๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Small Caliber Ammunition Market - https://www.prnewswire.com/news-releases/small-caliber-ammunition-market-to-reach-14-2-billion-globally-by-2031-at-2-8-cagr-allied-market-research-301771644.html
Military Antenna Market - https://www.globenewswire.com/en/news-release/2022/11/10/2553042/0/en/Military-Antenna-Market-to-Garner-6-7-Billion-by-2031-Allied-Market-Research.html
Military aircraft communication avionics Market - https://www.globenewswire.com/en/news-release/2022/06/13/2461098/0/en/Military-Aircraft-Communication-Avionics-Market-to-Garner-35-0-Billion-by-2030-Allied-Market-Research.html
Military 4D Printing Market - https://www.prnewswire.com/news-releases/military-4d-printing-market-to-reach-673-4-million-globally-by-2040-at-45-2-cagr-allied-market-research-301602464.html
David Correa
Allied Market Research
+1 5038946022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.