Please Wait.....
Report
Europe Missiles And Missile Defense Systems - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 80 Pages I Mordor Intelligence
The Europe Missiles And Missile Defense Systems Market size is estimated at USD 3.79 billion in 2024, and is expected to reach USD 4.83 billion by 2029, growing at a CAGR of 4.94% during the forecast period (2024-2029).
Key Highlights
-The Russia-Ukraine conflict altered the European defense landscape. Thus, European Union (EU) and North Atlantic Treaty Organization (NATO) member states acted collaboratively and aggressively to defend political and defense interests. A progressive and strategic increase in the European defense budget and the launch of infantry support projects are expected to create demand for sophisticated new-generation missiles with advanced capabilities, thereby driving the market in focus during the forecast period.
-However, the supply chain disruptions have deleteriously affected the sourcing of critical components and materials for the design, development, and manufacturing of sophisticated missiles and missile defense systems. Furthermore, the market is also affected by the long R&D cycle and cost-intensive nature of the defense industry, which exposes market players to economic fluctuations.
Europe Missiles & Missile Defense Systems Market Trends
Short Range Missiles to Dominate the Market Share During the Forecast Period
- Europe's geopolitical landscape includes neighboring regions with potential security threats. Short-range missiles are well-suited for defense against immediate and nearby threats, making them strategically vital. Short-range missiles are anticipated to hold the largest market share during the forecast period. A ballistic missile with a range of 1,000 km (620 mi) or less is referred to as a short-range ballistic missile (SRBM). They are primarily used as a strategic deterrent in local conflicts due to their relatively low cost and ease of configuration.
- Due to tumultuous military scenarios in the region, such as Russia's invasion of Ukraine, cross-border conflicts, and rising terrorism, European nations have significantly increased their annual defense spending and associated military budget. For instance, in February 2022, the German government allocated an additional USD 112.7 billion to its armed forces, including provisions for investments and weaponry programs for German military forces. In addition, the French Armed Forces proposed a USD 42.9 billion military budget for 2023, marking a USD 3.0 billion increase over the previous year.
- Moreover, Europe faces a diverse range of threats, including drones, cruise missiles, and ballistic missiles. Short-range missile defense systems are versatile and can counter various threats effectively. Furthermore, the increasing acquisition of modern defense systems fuels market expansion throughout Europe. For instance, in December 2022, Rafael Advanced Defense Systems was awarded a contract worth USD 236 million to supply short- and long-range missiles to the Finnish military.
Russia to Exhibit the Highest Growth Rate
- The ongoing conflict with Ukraine and border disputes with North Atlantic Treaty Organization (NATO) countries have boosted the demand for weapons and defense supplies. The ongoing conflict in Ukraine has led to an exceptionally high demand for artillery ammunition. Both Russia and Ukraine have been rapidly consuming artillery rounds. This situation creates opportunities for Russia's defense industry to replenish and expand its production capabilities. Russia was the third largest defense in the world and the highest spender in Europe, with a defense budget of USD 86.4 billion in 2022.
- The defense expenditure rose by 9.2% from the previous year. In light of the Russian invasion of Ukraine in February 2022, the government stated its intention to increase military spending further in the coming years. The Russian government has remade its economy to focus on defense production, reallocating a significant portion-nearly a third-of its commercial economy toward arms production. This economic shift and revenue from high energy prices enable Russia's security services and Ministry of Defense to invest in military production despite economic challenges. Its defense modernization efforts and arms race with the United States, China, and other European countries are propelling the growth of the missile and missile defense systems market in Russia.
- In March 2023, Russia's Ministry of Defense announced that it would complete the modernization of missile defense systems. They will also be deploying new units: one air defense division, one air defense brigade, one regiment equipped with S-350 medium-range air defense systems, the space monitoring radar station Razvyazka, and one special operations brigade for air and missile defense. Thus, growing defense expenditure and rising procurement of advanced missile defense systems are expected to drive the demand from Russia during the forecast period.
Europe Missiles & Missile Defense Systems Industry Overview
The European missile and missile defense systems market is semi-consolidated and dominated by MBDA, Saab AB, Lockheed Martin Corporation, THALES, and RTX Corporation. The market is witnessing a significant investment in research and development, and many missile manufacturers are collaborating and forming joint ventures to share technologies and expertise. Key players are generating revenue by selling missiles and missile defense systems to national and foreign governments. For instance, Saab AB signed a framework agreement with the government of a Western country and received orders within the agreement for several defense systems. The total order value is approximately USD 800 million, with deliveries planned for 2023-2026. Similarly, in February 2023, MBDA and THALES (Franco-Italian consortium Eurosam) were awarded a contract for the production of 700 ASTER medium-range surface-to-air anti-aircraft missiles for France and Italy. As per the contract, Italy and France will get the Aster 15, Aster 30B1, and the latest version of Aster 30 B1NT missiles.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Missile Defense Systems
5.1.2 Air-to-Air missiles
5.1.3 Air-to-Surface missiles
5.1.4 Surface-to-Surface missiles
5.1.5 Surface-to-Air missiles
5.2 Range
5.2.1 Short
5.2.2 Medium
5.2.3 Intermediate
5.2.4 Intercontinental
5.3 Geography
5.3.1 United Kingdom
5.3.2 Germany
5.3.3 France
5.3.4 Russia
5.3.5 Italy
5.3.6 Spain
5.3.7 Sweden
5.3.8 Rest of Europe
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 MBDA
6.2.2 RTX Corporation
6.2.3 The Boeing Company
6.2.4 Lockheed Martin Corporation
6.2.5 THALES
6.2.6 Saab AB
6.2.7 BAE Systems plc
6.2.8 Kongsberg Gruppen ASA
6.2.9 Rheinmetall AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security