MISSILE GUIDANCE SYSTEM MARKET

INTRODUCTION

A guidance system is a collection of sub-assembled parts used to control the movement of objects, for example, Ships, Aircraft, rockets, missiles, etc. It calculates the position, velocity, altitude, rotation, etc. for accurate movement of the system. Accuracy and precision are the most important part to play in this system. Better missile guidance is required to safeguard the territory of the user.

The difference between a rocket and a missile is that the missile has a special guidance system that takes the output of the navigation system for its function to perform. The concept of the missile originated in World War I and the guided missile concept came into existence in World War II by Germans in V-Weapon Program.

After this, the missile and guidance technology took a huge improvement during World War II due to the complexity of war and the need to win the war. Those technologies were improved after the war from time to time.

MISSILE GUIDANCE SYSTEM MARKET DYNAMICS

The continuous need of better missile technology and competition between developed countries, and developing countries to improve territorial security and to take quick action against the enemy led to a leap in the Research and Development of defence equipment (missiles included).

Now various countries are doing a trial of their developed missiles for their range, ballistic ability, quick response, speed, etc. Some countries are signing MoUs as well for joint development of better technology.

Recently countries like India, Russia, the USA, China, Israel, etc. have performed the test of their latest developed missiles for surface-to-surface, surface-to-air, air to air; showing the interest in the technological development of a country. This says that the market for missile guidance systems will continue to increase in future as well.

MISSILE GUIDANCE SYSTEM MARKET SEGMENTATION

Missile Guidance System Market By Launch Platform

• Air–to–Air
• Air–to–Surface
• Surface–to–Air
• Anti – Ship
• Anti – Tank

Missile Guidance System Market By Type of Guidance System

• Command Guidance System
• Beam rider guidance system
• Homing guidance system
• Inertial guidance system

Missile Guidance System Market By End User

• Ground Vehicles
• Combat Aircrafts
• Ships
• Submarines
• UAVs

Missile Guidance System Market By Application

• Conventional Guided Missile
• Cruise Missile
• Ballistic Missile

IMPACT OF COVID ON MISSILE GUIDANCE SYSTEM MARKET

As Missile development, Research and Development and manufacturing the task of great focus and precision, the employees of companies, the raw material, the testing phase, and other activities were halted when COVID surprisingly hit the entire globe in less period. All the activities were shut down and people had to stay at home, the work was halted, which slowed down this market as well.

The Multi–National giants were hit as well by market demand, from stock and by suppliers. After the lockdown was lifted the main priorities of countries were to help out its people to come out of the situation and somehow affected the budget as well. Office work did not start at full pace, the production in a few countries was still at rest.

Companies were also focusing on contributing to the world to fight this pandemic from their end by providing financial, goods, or equipment-related help. The forecasted demand and companies done by countries were affected was seen in their quarterly financial statement. The companies are trying to come out of the hole and start to stabilize a bit by maintaining a minimum production and allowing the percentage of their total employee to come to the office at work in an alternate manner.

MISSILE GUIDANCE SYSTEM MARKET SIZE AND FORECAST

The Global Missile Guidance system market is estimated to be $ XX billion in 2023 and expected to grow at a CAGR of XX% by the year 2030. The sudden increase in demand after a lockdown can be seen because a lot of countries have started testing their developed prototype.

The expenditure of the government on its defence budget is the driving factor for finding out the current scenario of this market. Countries like Russia, India, the USA, the UK, and China have the maximum impact on the market due to their huge military expenditure budget. Now the era of hypersonic missile systems has led the developing countries to increase their expenditure on technology and Research so that they can also equip themselves and be in a race with the world’s leader.

Race to increase the range of missiles, better guidance, accuracy to reach a target, acceleration, ballistic ability, pierce the armour, use of solid or liquid propellant, and material that may withstand future technological advancement are in continuous development by the market leader in these sectors. Mainly Multi – multinationals like Boeing, General Dynamics, BAE Systems, Thales, DRDO, and Almaz–Antey are dominating most of the world market.

The UK’s Royal Navy has tested Artificial Intelligence against missile attacks for the first time for its accuracy and effectiveness. The test is performed for supersonic, ballistic and cruise missiles, the trial was run by DSTL Scientists.

In India, the DRDO has successfully tested the missile with a unique propulsion system based on solid fuel ducted ramjet technology. Russia had tested its Zircon Missile, as per the report the missile flew 7 times the speed of sound and hit the target at 350km, it is been said that the range and speed will be further developed for 1000km and 9 times the speed of sound.

KEY PLAYERS OF MISSILE GUIDANCE SYSTEM MARKET