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The Missiles Market Increasingly Incorporates AI For Greater Accuracy

Missiles Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

Missiles Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Missiles Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, February 21, 2022 / -- Artificial intelligence is a key trend gaining popularity in the missiles market. Countries across the world are designing artificial intelligence missiles to hit targets that humans cannot reach. Artificial intelligence gives missiles the potential to strike moving targets and also provides greater accuracy over other technologies.

Increased defense spending is expected to fuel the growth of the missiles market. According to TBRC’s missile market analysis, countries around the world are investing in defense to protect their territory. For instance, the Japanese government signed off on its highest-ever defense budget of $48.5 billion for the next financial year, amidst the increasing conflicts with Asia-Pacific. Therefore, the increased defense spending drives increased global missile market opportunity.

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The global missiles market size is expected to grow from $25.31 billion in 2021 to $26.43 billion in 2022 at a compound annual growth rate (CAGR) of 4.4%. The growth in the missiles market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global missiles market share is expected to reach $32.16 billion in 2026 at a CAGR of 5.0%

Major players covered in the global missiles market are BAE Systems, Lockheed Martin Corporation, Raytheon Technologies, Northrop Grumman Corporation, Boeing, Tactical Missiles Corporation, Aerojet Rocketdyne, Rafael Advanced Defense Systems Ltd, Avibras Industrial Aerospecial SA, Israel Aerospace Industries, China Aerospace Science and Technology Corporation and General Dynamic.

TBRC’s global missile market research report is segmented by product type into cruise missiles, ballistic missiles, by range into short range missile, medium range missile, intermediate range missile, by propulsion type into ramjet, scramjet, turbojet, liquid propulsion, solid propulsion, hybrid propulsion, by application into defense, homeland security.

Missiles Global Market Report 2022 – By Product Type (Cruise Missiles, Ballistic Missiles), By Range (Short Range Missile, Medium Range Missile, Intermediate Range Missile), By Propulsion Type (Ramjet, Scramjet, Turbojet, Liquid Propulsion, Solid Propulsion, Hybrid Propulsion), By Application (Defense, Homeland Security) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a missiles market overview, forecast missiles market size and growth for the whole market, missiles market segments, geographies, missiles market trends, missiles market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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