Anti Tank Missile Market - Segments, Size, Share, Industry Growth

Posted by Savni on November 13th, 2019

Global Anti-Tank Missile Market Research Report: Information by Type (Man-Portable and Vehicle-Mounted), Platform (Airborne and Ground-Based), End User (Military and Commercial) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2025

As per a detailed analysis by Market Research Future (MRFR), the global anti-tank missile market is predicted to garner a CAGR of 4.25% during the forecast period (2015-2023). The rising expenses on defense is promoting the market growth. An anti-tank missile can be defined as a small weapon which is specifically designed to destroy tanks and armored vehicles and are used in close combat warfare. These missiles are different from conventional rocket-propelled grenades in terms of design and concept as they require to be steered towards the target after their launch. They vary in size and ranges from shoulder-launched weapons and man-portable tripod-mounted to vehicle and aircraft-mounted weapons.

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Anti-tank missiles facilitate the ground-vehicles, armed troops, and fighter aircraft to defeat and encounter the small, medium, and main battle tanks at great ranges. They are extensively used by several defense authorities, and the market is gaining momentum in the Middle East and Asian regions. The surging defense expenses in some economies has resulted in the growth of the anti-tank missile market. Factors like rising procurement of anti-tank missiles, growing investments on R&D on the existing missile systems, and emergence of long-range anti-tank missiles are some of the top factors presumed to dictate the growth trajectory of the market.

On the contrary, the continuous se of smokescreens by rebel and armed forces coupled with the concerns related to accuracy of the anti-tank guided missiles are likely to restrict the anti-tank missile market growth in the foreseeable future.

Segmental Analysis:

The global anti-tank missile market has been segmented on the basis of type and platform.

Based on type, the global anti-tank missile market has been segmented into vehicle-mounted and man-portable. Among these, the vehicle-mounted type is likely to gain prominence in the global market due to the heavy investments made by the countries in order to modernize and procure combat platforms.

The platform segment comprises ground-based and airborne. Among these, the ground-based platform is predicted to occupy a significant share in the global market. The ground-based anti-tank missiles are specifically designed to be launched from the ground through soldiers or armored vehicles. Such missiles have the capability to strike efficiently and defeat their ground-based targets.

Competitive Dashboard:

The prominent players operating in the global anti-tank missile market comprises General Dynamics (US), Denel Dynamics (South Africa), KBP Instrument Design Bureau (Russia), Israel Military Industries (Israel), Lockheed Martin (US), Rocketsan Missiles Inc. (Turkey), Rafael Advanced Defense Systems (Israel), MBDA (UK), Saab Bofors Dynamics (Sweden), and Raytheon (US).

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