Selbyville, DE -- (SBWIRE) -- 10/09/2018 -- The global interceptor missiles market is predicted to experience an upswing in the upcoming years attributed to mounting global conflicts, internal and external security threats, and technical advancements in armed forces across the globe. In a recent turn of events, Iran became the target of a terror activity wherein a military parade in the nation's Ahvaz city was attacked by terrorists.

Reportedly, the attackers belonged to the al-Ahvaziya group, and the incidence has led to the death of 25 individuals, whereas nearly 60 individuals were injured during firing. In response, the country has carried out missile & drone attacks on terrorist locations in Syria. It is thus rather discernible that the rising number of terrorist attacks and the subsequent need to protect the nation will add a major

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Global Interceptor Missiles Market is expected to cross 3,000 units till 2024. Continuously increasing threat of attacks from rival countries has resulted in proliferating demand for interceptor missiles over the forecast timeframe. Multiple countries across the globe including Netherlands, U.S, Israel, Saudi Arabia, UAE, Qatar, etc., have purchased patriot interceptor missiles to strengthen their defense inventory, impacting the industry positively.

Interceptor Missiles Market is estimated to surpass USD 14 billion by 2024. Industry is witnessing regular upgradations and innovations in interceptor missiles. For instance, HQ-19 is a significant upgradation of HQ-9 and has gained prominence in 2017. It is capable of targeting satellites and ballistic missiles in lower earth orbit and is featured with kinetic kill vehicle. Moreover, it can intercept the ballistic missiles from a range of 3,000 kms. These innovations are anticipated to induce immense growth potential to the interceptor missiles market over the coming years.

Surface to air missiles are expected to gain momentum in the future attribute to growing adoption of these missiles in defense initiatives to combat enemies, along with the ease of missile deployment on the ground. In a recent turn of events, Russia has delivered a long-range surface-to-air missile system called S-300 to the Syrian military. Water to air missiles on the other hand, will also demonstrate a considerable boost in production and sales, owing to the increased penetration of such missiles in nations such as Italy, UK, U.S., and France. These countries, in a bid to secure naval boundaries, have been majorly adopting such missiles on a large scale, thereby driving global interceptor missiles market growth in the ensuing years.

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Interceptor missiles of up to 125 kms range are anticipated to dominate the interceptor missiles market, generating a demand of over 2,000 units till 2024. Continuously increasing penetration of missiles conforming to this range such as PAC-3, Iron Dome, and SM-3, from MEA including UAE, Israel, and Saudi Arabia will primarily support the industry dominance. Interceptor missiles of range above 200 kms will exhibit over 18% CAGR in terms of revenue owing to rising deployment of advanced missiles such as HQ-19. Regular innovations in these missiles in countries such as China will further strengthen the industry penetration over the forecast timeframe.

PAC-3 is expected to account for highest interceptor missile market share crossing USD 6 billion over the coming years. Proliferating demand of these missiles, especially in developed countries will primarily support the revenue generation. For instance, in January 2013, the U.S. army entered into several contracts worth USD 755 million for purchasing 168 PAC-3 missiles and associated services and equipment. HQ-19 will exhibit over 40% CAGR till 2024 owing to its continuously rising usage as an upgradation of HQ-9. Its enhanced features as compared to its counterparts will further support the industry growth till 2024.

Interceptor Missiles Market by Technology:
THAAD, PAC-3, SM-3, HQ-19, Iron dome, FD-2000, Patriot GEM-T, Aegis ashore, Aster.

Lockheed Martin Corp., Boeing Co., Raytheon Co., Aerojet Rocketdyne, and Rafael Advanced Defense Systems are among the major industry players. Regular product innovations is among prominent strategies implemented by these participants. For instance, in January 2018, Lockheed Martin made enhancements in Aegis missile that is anticipated to result in rapid detection of threats and reduction in reaction time.

Interceptor missiles market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in units and revenue in USD million from 2013 to 2024, for the following segments:

Related Report:

Global Missiles and Missile Defense Systems Market Research Report 2018

This report studies the global Missiles and Missile Defense Systems market status and forecast, categorizes the global Missiles and Missile Defense Systems market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, and other regions (India, Southeast Asia, Central & South America, and Middle East & Africa).

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