GLOBAL PRECISION STRIKE MISSILE MARKET

INTRODUCTION

 In order to replace the ATACMS, the US Army is currently developing the Precision Strike Missile (PrSM).  The PrSM will use enhanced propulsion to fly more quickly and farther (initially out to 310 miles (500 km))[2] while also becoming thinner and sleeker.

 The loadout will increase to two per pod, double the number carried by M270 MLRS and M142 HIMARS launchers. A possible acquisition of PrSM has been alluded to by the UK as part of an upgrade of the M270 MLRS used by the British Army.

GLOBAL PRECISION STRIKE MISSILE MARKET SIZE AND FORECAST

The Global Precision Strike Missile market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.

RECENT PARTNERSHIP

After having trouble reaching a first flight test in the Precision Strike Missile competition sponsored by the U.S. Army, Raytheon Technologies withdrew. However, after reaching a settlement with the service, the business has partnered up with Northrop Grumman in order to pursue the opportunity to create a future iteration of the munition.

As early rivals working on the PrSM to replace the Army's Tactical Missile System, Lockheed Martin and Raytheon were involved. 

The Army's portfolio of long-range precision firing, which is a component of the new wave of modernization priorities specified by the service, includes PrSM as one of its main technology development programmes.

By working together with Northrop Grumman, the team will develop its ground-breaking design, which includes cutting-edge propulsion technology as a major enabler for extending range as well as augmentation for survivability and lethality. 

The two businesses are responsible for designing, constructing, and testing the propulsion component for DeepStrike-ER, which they refer to as a "advanced missile solution that will demonstrate the capability to achieve the Army's desired range and effectiveness against next-generation threats.

" In a competitive technological maturation and risk reduction phase led by the Army, Raytheon was working on a PrSM missile, but the project ran into difficulties getting the weapon ready for flight tests. The service intends to deploy PrSM in capability tiers, with the second tier concentrating on enhancing seeker to add a ship-killing capability.

COMPANY PROFILE

• Northrop Grumman Corporation
• Boeing
• Tactical Missiles Corporation
• Aerojet Rocketdyne
• Rafael Advanced Defense Systems Ltd.

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many Precision Strike Missiles are manufactured per annum globally? Who are the sub-component suppliers in different regions?
2. Cost breakup of a Global Precision Strike Missile and key vendor selection criteria
3. Where is the Precision Strike Missile manufactured? What is the average margin per unit?
4. Market share of Global Precision Strike Missile market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Global Precision Strike Missile in-house
6. key predictions for next 5 years in Global Precision Strike Missile market
7. Average B-2-B Precision Strike Missile market price in all segments
8. Latest trends in Precision Strike Missile market, by every market segment
9. The market size (both volume and value) of the Precision Strike Missile market in 2023-2030 and every year in between?
10. Production breakup of Precision Strike Missile market, by suppliers and their OEM relationship