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Global Anti-Ship Missile Defence System Industry Research Report 2023-2032 Featuring BAE Systems, Lockheed Martin, Rafael Advanced Defense Systems, Raytheon Technologies, and SaabDUBLIN, March 18, 2024 /PRNewswire/ -- The "Anti-Ship Missile Defence System Market by Component (Radar, Missile Interceptor), Launch Platform (Air, Surface, Submarine), Application (Ballistic Missiles Defense, Conventional Missile Defense), and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering. The global anti-ship missile defence system market size reached US$ 12.9 billion in 2023. The market is projected to reach US$ 19.7 billion by 2032, exhibiting a growth rate (CAGR) of 4.79% during 2023-2032 The rising demand for naval vessels, rapid military modernization activity, and the integration of artificial intelligence (AI) and machine learning (ML) technologies represent some of the key factors driving the market. Furthermore, the implementation of various government initiatives to expand and strengthen naval fleets to protect the country's maritime interests is providing an impetus to the market growth. Additionally, the recent development of directed energy weapon systems, such as high-energy lasers and high-power microwaves that are cost-effective, require low maintenance, and can rapidly engage hypersonic missiles, is positively influencing the market growth. Apart from this, the integration of artificial intelligence (AI) and machine learning (ML) to automate threat detection capabilities and improve the sensitivity, tracking, and response time of the ASMD system is favoring the market growth. Moreover, the introduction of multi-function radars (MFR) that engage multiple targets smultaneously and enhance situational awareness of the system is creating a positive outlook for the market. Other factors, including the significant growth in the defense industry, growing military tensions, the increasing investment in the research and development (R&D) of new ASMD systems, and the rising threat of asymmetric warfare, are anticipated to drive the market growth. Asia-Pacific was the largest market for anti-ship missile defence system. Some of the factors driving the Asia-Pacific anti-ship missile defence system market included rapid military modernization, increasing government initiatives, and significant technological advancements. Key Questions Answered in This Report
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For more information about this report visit https://www.researchandmarkets.com/r/fq35i1 About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Media Contact: Research and Markets For E.S.T Office Hours Call +1-917-300-0470 U.S. Fax: 646-607-1907 Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets |