wiseguyreports January 13, 2021

esearch report about the global anti-tank missiles market that expects growth for this market with 4.25% CAGR (Compound Annual Growth Rate) between 2015 and 2023. Analyzing the market structure, this report evaluates the future growth potential of the market. It analyzes the strategies of the key players in the market and follows the competitive developments such as joint ventures, new product developments, mergers and acquisitions, research and developments (R &D) in the market. The global naval gun system market is growing due to significant technological advancement.

The global anti-tank missiles market stands a chance to grow due to the growing defense expenses in many countries. The other factors that are aiding the growth of global anti-tank missiles market include the growing procurement of anti-tank missiles, increasing R&D investments on the existing missile systems, and the introduction of long-range anti-tank missiles. However, the continued usage of smokescreens by a number of armed and rebel forces along with the accuracy issues associated with the anti-tank guided missiles can be an obstacle for the growth of the market.

The global anti-tank missiles market has been segmented on the basis of the platform, type, and lastly, the region. The platform-based segmentation of this market covers airborne and ground-based. Airborne is regarding combats in the air while ground-based, as the name suggests is regarding combat on the Earth surface. By types, the market has been segmented into man-portable and vehicle-mounted. Man-portable missiles can be lifted by men and inserted into the launcher. Man-portable missiles held the largest market share of 68.00% in 2016, with a market value of US $ 5,696.4 mn. The man-portable anti-tank missile is also called as a shoulder-launched anti-tank missile. The man-portable anti-tank missile system is intended to destroy manpower, stationary, and mobile armored vehicles. FGM-148 Javelin, Spike, and Type 01 LMAT are the most commonly used man-portable anti-tank missiles. The vehicle-mounted missiles are mounted on to vehicles. Vehicle-mounted missiles were the second-largest market in 2016, valued at US $ 2,680.6 mn. These systems enable the vehicles/aircraft to detect a target, aim and fire a missile, track, and defeat the target. Although the vehicle-mounted anti-tank missiles held the 32% of the global market share in 2016, it is expected to grow at a CAGR of 3.90%, during the forecast period.

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