Global Anti-Tank Missile Market is driven by a diverse range of factors such as the overall increase in the level of military expenditure in different nations, and the rise in the procurement of anti-tank missiles. Apart from these factors, the increase in the research and development activities relating to the existing weapon system has also played a vital role in driving the market at the global level. Anti-Tank Missiles are a very valuable security asset that can enhance the national security of a nation against its enemies.
Anti-tank missiles are designed with the intention to strike and destroy tanks and various other armored military vehicles. In unpredictable times, the overall demand for these weapons has intensified in different nations around the globe. Such weapons vary in terms of size, capability, and other features. There has been a surge in the demand of anti-tank missiles as they enable ground vehicles, armed troopers, and fighter aircraft to gain an upper hand against main battle tanks (MBTs) and small, medium-sized battle tanks, even if they are a greater distance range.
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A comprehensive study of the anti-tank missile market has been carried out to get a detailed insight into its growth potential at the global level. The performance of the market has been projected in the report by taking into consideration a wide range of factors. It is expected that during the projected period, the global anti-tank missile market is likely to experience a growth at 4.25 % CAGR.
The key players in theGlobal Anti-Tank Missile Market are Rafael Advanced Defense Systems (Israel), MBDA (France), Raytheon Company (US), KBP Instrument Design Bureau (Russia), Saab AB (Sweden), Elbit Systems Ltd. (Israel), Denel Dynamics (South Africa), General Dynamics Corporation (US), Lockheed Martin Corporation (US), and ROKETSAN A.S. (Turkey).
Market players operating in the global anti-tank missile market are integrating new and improved technologies so that they can design deadly systems to defeat their opponents. Since technology is rapidly evolving in the current times, the technological components that are being used in the anti-tank missiles are also undergoing changes and modifications.
Global Anti-Tank Missile Market can be segmented into different regional markets such as Europe, North America, the Middle East, the Asia Pacific, Latin America, and Africa. It is expected that during the projected period, the Asia Pacific market will have the highest CAGR and positively influence the performance of the market at the global level. In recent times, nations such as India and China have increased their overall spending on anti-tank missiles. This factor could contribute to the growth of the specific geographical market. Due to the rise in the level of terrorism and border threats, the demand for anti-tank missiles has surged significantly.
The anti-tank missile market can be classified based on type, platform, and region. Based on the product type, the market can be further categorized into man-portable and vehicle-mounted. A man-portable antitank missile is also known as a shoulder-launched anti-tank missile. It is expected that during the forecasted period, the man-portable type will be in high demand. Based on the platform, the market can be sub-categorized into airborne and ground based. The ground-based anti-tank missiles are designed so that they can be launched via armored soldiers or vehicles. They are capable of efficiently hitting and defeating the ground-based target.
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