Research Nester released a report titled “Intercontinental ballistic missile Market: Global Demand Analysis & Opportunity Outlook 2028″ which delivers detailed overview of the intercontinental ballistic missile market in terms of market segmentation by launch mode, by product, by payload and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Upon rising political instability in different countries, concerns for national security have risen globally. Additionally, border disputes and frequent skirmishes have compelled the governments to increase spending towards defense. Owing to these factors, the market size of the intercontinental ballistic missile market is anticipated to grow at a notable CAGR during the period 2020-2028. The market is segmented by product into land based and submarine based, out of which, the land based segment is anticipated to grow at the fastest rate on the back of rising border disputes among neighboring countries.
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On the basis of regional analysis, the intercontinental ballistic missile market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region out of which, the market in North America is anticipated to hold the largest market share on the back of use of sophisticated technology for business development and increasing investment in intercontinental ballistic missile technology. Further, the market in Asia Pacific is anticipated to record the highest CAGR over the forecast period owing to increasing investment in defense sector and rising regional tensions.
Rising Border Disputes
Rising tensions in the Middle East and border disputes in South Asia is anticipated to drive the market growth during the forecast period. Moreover, the highly developed technologies that are being applied in the field of defence are predicted to create higher growth opportunities for the market growth. However, high cost of the raw material, intense competition and high cost of technology are expected to operate as key restraints to the growth of the intercontinental ballistic missile market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global intercontinental ballistic missile market which includes company profiling of Lockheed Martin (NYSE:LMT), Northrop Grumman (NYSE:NOC), General Dynamics Corporation (NYSE:GD), Rafael Advanced Defense Systems, Boeing Co. (NYSE:BA), BAE Systems PLC (LON:BA), Defense Research and Development Organization, Israel Aerospace Industries, Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) and Makeyev Rocket Design Bureau.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global intercontinental ballistic missile market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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