New York, NY -- (SBWIRE) -- 07/20/2018 -- Introduction
Intercontinental ballistic missile, commonly termed as ICBM, is a missile with the longest range. It is capable of delivering many types of weapons, namely, chemical, nuclear, and biological, and others. It is much faster than Medium-Range Ballistic Missile (MRBM) and Intermediate-Range Ballistic Missiles (IRBM). Nowadays, countries are aiming at developing new ICBMs with advanced propulsion systems that have greater range and high destructive power. For instance, modern ICBMs are being developed to support Multiple Independently Targetable Re-Entry Vehicles (MIRVs), enabling a single missile to carry multiple re-entry vehicles (warheads), each of which is capable of striking a different target. Presently, only a few nations possess the technology to launch such long-range weaponry. They can be deployed from multiple platforms, such as missile silos, trucks, and submarines.

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Due to factors such as increasing border threats, rising national security concerns, and changing dynamics of warfare, countries such as Russia, the U.S., are inclined towards enhancing their missile arsenal. They are also modernizing their old missiles with the new propulsion system and warheads. Concurrently, countries such as North Korea, have joined the arms race and are consistently focusing on developing new and more destructive ICBMs. Meanwhile, countries in the Middle East, such as Iran, are supposedly developing ICBM despite nuclear sanctions. Nowadays, possession of ICBMs has become a determining factor for evaluating the country's military power and countries.

Regional Analysis
The global intercontinental ballistic missile market is estimated to witness a 5.89% CAGR during the forecast period of 2017-2023. In 2016, the market was led by Europe with 45.47% share, followed by North America and Asia Pacific with shares of 28.91% and 21.48%, respectively. Europe is the largest regional market for intercontinental ballistic missile. It houses countries such as Russia, U.K, and France, which have a huge reserve of weapons of mass destruction. Russia is investing heavily in the modernization of warheads and delivery systems. Recently, it has tested its latest and the most powerful intercontinental ballistic missile RS-28 Sarmat, and it claims that the missile can reach any point in the world. In addition, in 2015, U.K. had around 215 nuclear warheads. The country maintains a fleet of four nuclear-armed submarines in Scotland, each carrying 16 Trident missiles. This country also possesses a considerable stash of air and submarine-launched cruise and ballistic missiles respectively. Similarly, during the same period, the French Army had approximately 300 nuclear warheads, with most of them deployed on submarines equipped with M45 and M51 missiles. Therefore, the intercontinental ballistic missile market in Europe is projected to witness a CAGR of 5.76% during the forecast period.

Key Players
The key players of intercontinental ballistic missile market are Boeing (U.S.), Lockheed Martin (U.S.), and Northrop Grumman Corporation (U.S.). These three companies accounted for nearly 45% market share of the global market in 2016. Other prominent players include General Dynamics Corporation (U.S.), BAE Systems (U.K), Israel Aerospace Industries Ltd. (Israel), Aerojet Rocketdyne Holdings, Inc. (U.S.), and Orbital ATK, Inc. (U.S.).
Objective of the Global Intercontinental Ballistic Missile Market Research Report – Forecast to 2023
- To provide insights into factors influencing the market growth
- To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and their key countries
- To provide historical and forecast revenue of the market segments based on type, payload, range, and region.
- To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market

Target Audience
- ICBM Manufacturers
- Defense Authorities
- Propulsion System Providers
- Aerospace & Defense Companies
- Component Suppliers

Key Findings
- In the global intercontinental ballistic missile market report, the bases of segmentation are land-based, and submarine-based. Submarine based segment market is projected to register the highest CAGR of 6.16% during the forecast period.
- The global intercontinental ballistic missile market has be segmented, by payload, as multiple warhead and single warhead. The single warhead segment market is projected to register the highest CAGR of 6.04% during the forecast period.
- The intercontinental ballistic missile market in this report has been segmented on the basis of range into above 10,000 km segment and below 10,000 km. Above 10,000 km, segment market is projected to register the highest CAGR of 5.97% during the forecast period.
- Europe dominated the global intercontinental ballistic missile market in 2016. It is expected to register a CAGR of 5.76% during the forecast period. It is expected to reach a market size of USD 4,693.1 million by 2023.

Table of Content: Key Points
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Global Intercontinental Ballistic Missile Market, By Type
6 Global Intercontinental Ballistic Missile Market, By Payload
7 Global Intercontinental Ballistic Missile Market, By Range
8 Global Intercontinental Ballistic Missile Market, By Region
…Continued

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