Missile Guidance System Market Size

Missile Guidance System Market Size

Missile Guidance System Market size was valued at USD 925 million in 2023 and is anticipated to grow at a CAGR of over 5% between 2024 and 2032. The rising focus on missile technology development is driving the market for missile guidance systems. Guidance technologies are being continuously enhanced to improve the accuracy and reliability of missile strikes. This includes the development of Inertial Navigation Systems (INS), Global Positioning Systems (GPS), laser guidance systems, and terminal homing guidance systems.

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The integration of these technologies enables missiles to navigate accurately to their target coordinates, adjust trajectory mid-flight, and engage moving targets with precision. For instance, in June 2022, Elbit System showcased the Range Extension & Smart Tail (REST) kit for air-to-surface warheads during Eurosatory 2022, as part of its portfolio of precision munitions. The REST kit provides all-weather pinpoint 'fire and forget' capability to ranges of up to 120km and is capable of a steep impact angle for enhanced penetration of hard targets.

There is a trend toward combining diverse defense systems including missile defense, air defense, and ground-based systems into multi-layered architectures. By combining capabilities, such as long-range interceptors, short-range point defenses, and sensor networks, multi-layered defense architectures provide layered protection against a wide range of threats and quick response to attacks including ballistic missiles, cruise missiles, aircraft, and drones.
 

Developing advanced missile guidance systems requires complex and detailed technologies with high engineering expertise. The complexity of integrating guidance, navigation, and control subsystems, as well as ensuring smooth integration with other defense systems, can pose significant technical challenges for manufacturers and defense contractors.