Anti-tank missile systems are used to destroy armored vehicles and tanks.Tanks are heavily armored vehicles.

NEWARK, UNITED STATES, June 10, 2022 /EINPresswire.com/ -- The Brainy Insights launched a study titled Anti-Tank Missile System Market Size by Platform (Ground, & Airborne), Product Type (Man-Portable, & Vehicle Mounted), Application, Domain, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
The global anti-tank missile system market is expected to grow from 2.43 billion in 2021 to USD 3.36 billion by 2030, at a CAGR of 3.68% during the forecast period 2022-2030. The market for anti-tank missile systems will grow and develop as the defense budget increases to modernize the army. The changing geopolitical dynamics will encourage investments in creating new ground and air-based anti-tank missile weapons, highlighting the importance of having solid offensive and defensive infrastructure and systems to safeguard countries against unintentional aggression. Governments and private market participants working together to build the anti-tank missile systems will also create profitable prospects. The anti-tank missile system market will benefit from the growing trend of defense indigenization. Integrating advanced weaponry to combat enemy actions has garnered the attention of the governments, who are now producing high-end anti-tank missile systems that are tactically operationalized to destroy heavily armored enemy vehicles.

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The ground segment dominated the market, with a market value of around 1.40 billion in 2021.
The platform segment is divided into ground and airborne. The ground segment dominated the market, with a market value of around 1.40 billion in 2021.

The man-portable segment is expected to grow at the fastest CAGR of 4.52% over the forecast period.
The product type segment is divided into a man-portable and vehicle-mounted. Over the forecast period, the man-portable segment is expected to grow at the fastest CAGR of 4.52%.

The defense segment dominated the market, accounting for around 1.58 billion in global revenue.
The application segment is divided into defense and internal security. The defense segment dominated the market, accounting for around 1.58 billion in global revenue.

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Global Anti-Tank Missile System Market by Platform:
• Ground
• Airborne
Global Anti-Tank Missile System Market by Product Type:
• Man Portable
• Vehicle Mounted
Global Anti-Tank Missile System Market by Application:
• Defense
• Internal Security

Regional Segmentation Analysis:
The market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The North American region is expected to be the largest market during the forecast period. The anti-tank missile system market in North America has been expanding rapidly. The United States of America dominates the anti-tank missile system market in the North American region. The federal U.S. government's increasing spending on anti-tank missile systems to counter the rising Russian threat in Europe and protect its transatlantic allies will significantly contribute to the North American dominance in the anti-tank missile system market. The increasing defense expenditure by the Canadian government is also contributing to the dominance of this region in the global anti-tank missile market.

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Competitive Analysis:
The market's major players include Elbit Systems Ltd., General Dynamics Corporation, Denel Dynamics, Lockheed Martin Corporation, MBDA Missiles Systems, KBP Instrument Design Bureau, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, ROCKETSAN A.S., and BAE Systems PLC, among others.

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