Missile Guidance System Market Analysis

Missile Guidance System Market Analysis

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Based on the guidance system, the market is segmented into command guidance system, beam rider guidance system, homing guidance system, and inertial guidance system. The beam rider guidance system segment accounted for 45% of the market share in 2023.
 

• The growing beam rider guidance systems are being integrated into modern missile platforms and weapon systems to augment their capabilities and provide an additional guidance option. Integrating beam rider technology with next-generation missile systems allows for versatility in engagement scenarios and expands the overall operational flexibility of the weapon platform. For instance, in February 2023, Thales and Bharat Dynamics Limited (BDL), a Government of India enterprise, signed a Memorandum of Understanding (MoU) for setting up manufacturing facilities in India for precision-strike 70mm laser-guided rockets. The command guidance system involved in this is used to illuminate the target area with laser energy. The missile, equipped with a laser seeker or sensor, detects and homes in on the laser spot, allowing for precise targeting and engagement.
   

Based on the end user, the missile guidance system market is divided into Unmanned Aerial Vehicles (UAVs), ground vehicles, combat aircraft, ships, submarines. The ground vehicles segment is the fastest growing and is poised to expand at a CAGR of over 6% through 2032.
 

• There is a growing trend towards the integration of precision guidance systems into ground vehicles to enhance their lethality, accuracy, and operational effectiveness. Advanced guidance technologies, such as GPS-aided inertial navigation systems (INS), laser guidance, and millimeter-wave radar guidance, enable ground vehicles to engage targets with greater precision, reducing collateral damage and maximizing mission success rates. For instance, in February 2024, Northrop Grumman, in cooperation with Air Force Global Strike Command, for the US Air Force (USAF) developed the LGM-35A Sentinel, formerly called the Ground Based Strategic Deterrent (GBSD), is an Intercontinental Ballistic Missile (ICBM).
   

Asia Pacific missile guidance system market is set to observe around 6.5% CAGR from 2024 to 2032. Rapid economic growth, along with increasing military expenditures among countries in the region, has spurred the demand for advanced defense technologies including precision-guided munitions and missile guidance systems. The rising geopolitical tensions and territorial disputes have led to an increase in investments in missile defense capabilities, further enhancing market growth. Advancements in missile technology and the emergence of new threats have prompted governments to modernize their defense systems, leading to increased procurement of advanced guidance systems.