Technavio Announces the Publication of its Research Report Global Intercontinental Ballistic Missile (ICBM) Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Intercontinental Ballistic Missile Market: BAE Systems, Boeing, General Dynamics, Lockheed Martin, and Northrop Grumman.
Other Prominent Vendors in the market are: China Academy of Launch Vehicle Technology, Orbital ATK, Rafael Advanced Defense Systems, Raytheon, and Rockwell Collins.
Commenting on the report, an analyst from Technavios team said: A new trend in this market is the emergence of smokeless missiles. Chemring Defence, a prominent vendor of the market, signed a contract worth over $40 million, with the MOD to develop a multiple effect rocket system, MERS, that can fire missiles without emitting any smoke. The advanced missile system does not allow the detection of the origin of missiles, thereby reducing the risks of enemy attacks.
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According to the report, a key driver which is driving market growth is the rise in R& D investments. R&D is a pre requisite for the development of ICBM systems and maintenance of global competitiveness in the market. Of late, regions like the Americas and Europe have made high investments in R&D and procurement of missile systems for strengthening their border security.
Further, the report states that one challenge that will likely hamper market growth is an increase in defense budget cuts.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors in the report global defense intercontinental ballistic missile market