Ocean View, DE -- (SBWIRE) -- 06/17/2020 -- Rise in defense expenditure by governments worldwide is expected to majorly fuel interceptor missiles market growth over the forecast period. Nations across the globe are spending heavily on improving the defense sector.

Countries are upgrading and modifying their existing interceptor missiles system to reduce future aerial threats. Technological advancements and design modifications have enabled the defense sector to equip advanced vehicles and missile carriers with upgraded interceptor missiles.

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As per estimates, the global defense spending in 2018 was USD 1,822.0 billion, which depicted a 2.6% hike as compared to previous years. The U.S., Saudi Arabia, France, and China collectively constituted over 50% of the total share. Such an upward trend in military spending is a chief factor propelling interceptor missiles market trends.

The surface to air segment stood at USD 3 billion in 2018 and is likely to record a CAGR of 5% over the forecast period of 2020-2026. These missile systems are utilized in both land and naval applications. Land-based interceptor missiles are experiencing massive demand owing to their superior operational capabilities and easy integration with various C4ISR systems.

Company profiled in interceptor missiles market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Aerojet Rocketdyne
2. Airbus S.A.S.
3. Almaz Antey
4. Barat Dynamics Limited
5. China Aerospace Science and Technology Corporation
6. Elbit Systems Ltd
7. General Dynamics Corporation
8. Hanwha Corporation
9. Israel Aerospace Industries
10. Kongsberg
11. L3Harris
12. Leonardo S.p.A
13. Lockheed Martin Corporation
14. MBDA
15. Northrop Grumman Corporation
16. Rafeal Advanced Defense Systems Ltd.
17. Raytheon Company
18. Rheinmetall AG
19. Saab AB
20. Thales Group
21. Boeing
22. BAE Systems

Long-range interceptor missiles are set to experience heightened demand in the coming years on account of rising investments in long-range interceptor missiles by multiple countries. Although the previous years witnessed significant investments in short-range interceptor missiles, political unrest between nations such as the U.S., China, India, Saudi Arabia, and Russia is likely to alter the scenario. The aforementioned countries are investing heavily in long-range missiles to strengthen their military capabilities. As per estimates, the long-range interceptor missiles segment in interceptor missiles market is expected to depict a CAGR of 6% over the forecast period.

The presence of prominent market players in North America to meet the demand for advanced defense solutions will magnify interceptor missiles market outlook in the region. High defense allocation and the ability to constantly upgrade the prevailing missiles will complement the industry outlook. North America interceptor missiles market share is expected to witness growth of more than 6% over the period of study.

Several market players in the region are partnering with APAC based companies to expand the profit margin. Countries in Asia Pacific such as India, Singapore, and China are encouraging FDI into the countries to maximize manufacturing capacities.

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Long-term collaboration with government and defense organizations remains among the key strategies underlining the industry terrain. However, it is imperative to note that major defense contracts are multi-layered and are subject to political agendas of different countries. High involvement of government bodies in such transactions might stand as a challenge to the growth of the interceptor missiles market.

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