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NEWARK, UNITED STATES, June 10, 2022 /EINPresswire.com/ -- The Brainy Insights launched a study titled Missile Defense System Market Size byRange (Long Range, Medium Range, & Short Range), Technology (Countermeasure System, Fire Control System, Command & Control System, & Weapon System), Threat Type, Domain, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

The global missile defense system market is expected to grow from 25.83 billion in 2021 to USD 38.81 billion by 2030, at a CAGR of 4.63% during the forecast period 2022-2030.The increasing defense budget to modernize the army, navy, and air force will drive the growth and development of the missile defense system market. The changing geopolitical dynamics, which highlight the critical nature of having robust surveillance and defensive infrastructure and systems to protect countries from untoward aggression, will increase investments in developing new army, naval, and air missile defense systems. Collaborative efforts between governments and private market players will also provide lucrative opportunities for the growth of the missile defense market. The growing trend of defense indigenization will propel the growth of the missile defense system market. The rise of extremist groups and organizations leading to cross-border terrorism, targeted attacks, and killings have pressured the governments to improve their security measures to protect national interests, defense assets, civilian infrastructure, and the lives of their citizens. Integrating advanced weaponry to combat enemy actions has garnered the attention of the governments, who are now producing high-end missile defense systems that are strategically placed to intercept and destroy the incoming threats.

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The medium-range segment dominated the market, with a market value of around 11.88 billion in 2021.

The range segment is divided into long-range, medium-range, and short-range. The medium-range segment dominated the market, with a market value of around 11.88 billion in 2021.

The weapons system segment is expected to grow at the fastest CAGR of 5.52% over the forecast period.

The technology segment is divided into countermeasure systems, fire control systems, command & control systems, & weapons systems. Over the forecast period, the weapons system segment is expected to grow at the fastest CAGR of 5.52%.

Global Missile Defense System Market by Range:

Long Range
Medium Range
Short Range
Global Missile Defense System Market by Technology:

Countermeasure System
Fire Control System
Command & Control System
Weapons System
Global Missile Defense System Market by Threat Type:

Subsonic Missiles
Supersonic Missiles
Hypersonic Missiles
The supersonic missiles segment dominated the market, accounting for around 12.14 billion global revenue.

The threat type segment is divided into subsonic missiles, supersonic missiles, and hypersonic missiles. The supersonic missiles segment dominated the market, accounting for around 12.14 billion global revenue.

The ground segment dominated the market, with a market value of around 12.39 billion in 2021.

The domain segment is divided into ground, marine, and air. The ground segment dominated the market, with a market value of around 12.39 billion in 2021.

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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 missile defense system market in North America has been expanding rapidly. The United States of America dominates the missile defense system market in the North American region. The federal US government's increasing government spending on missile defense systems to counter the rising threat of Iran, North Korea, Russia, and China developing intercontinental nuclear-capable ballistic missiles with the ability to strike the US and its allies will significantly contribute to the North American dominance in the missile defense system market.

Competitive Analysis:

The market's major players include General Dynamics Corporation, BAE Systems, Lockheed Martin Corporation, Leonardo Spa, Northrop Grumman Corporation, MBDA Missiles Systems, The Boeing Company, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, and Thales Group, among others.

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