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The anti-tank missile market is experiencing notable trends driven by geopolitical tensions, technological advancements, and evolving warfare tactics. Anti-tank missiles play a crucial role in modern military operations, offering precision firepower against armored vehicles and fortified positions. One significant trend in the market is the increasing demand for advanced anti-tank missile systems capable of countering a wide range of armored threats, including main battle tanks, armored personnel carriers, and fortified bunkers. As nations invest in upgrading their military capabilities to address emerging security challenges, there is a growing emphasis on procuring versatile and adaptable anti-tank missile systems that can effectively engage targets in diverse operational environments.
Moreover, advancements in missile guidance and targeting technologies are driving innovation in the anti-tank missile market, enabling manufacturers to develop more accurate, reliable, and lethal missile systems. From advanced infrared seekers and laser-guided systems to fire-and-forget capabilities and networked targeting solutions, these advancements are enhancing the precision and effectiveness of anti-tank missiles, enabling them to engage targets with greater speed and lethality. Additionally, the integration of advanced sensors, data processing algorithms, and artificial intelligence (AI) capabilities is enhancing situational awareness and target discrimination, enabling anti-tank missile systems to detect and engage threats more effectively in complex battlefield scenarios.
Furthermore, the market for anti-tank missiles is witnessing increasing demand from both traditional military forces and non-state actors, driven by the proliferation of armored threats and the need for effective countermeasures. As insurgent groups and terrorist organizations acquire increasingly sophisticated weapons and armored vehicles, there is a growing demand for portable and affordable anti-tank missile systems that can provide a decisive advantage on the battlefield. This trend towards asymmetric warfare and unconventional threats is driving manufacturers to develop lightweight, man-portable anti-tank missile systems that offer high mobility, ease of use, and robust anti-armor capabilities, enabling military forces and security personnel to effectively counter insurgent threats in urban and rural environments.
Additionally, the market for anti-tank missiles is characterized by increasing competition among key players, including leading defense contractors and specialized missile manufacturers. As countries seek to modernize their armored forces and enhance their anti-tank capabilities, there is a growing demand for innovative missile systems that offer superior performance, reliability, and affordability. This is driving manufacturers to invest in research and development efforts to develop next-generation anti-tank missiles that can address evolving threat scenarios and provide a decisive edge on the battlefield. Moreover, strategic partnerships and collaborations between defense companies and international governments are driving innovation and technology transfer in the anti-tank missile market, enabling the development of advanced missile systems that meet the unique requirements of different military forces and operational environments.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, Platform, End User, and Region |
Anti Tank Missile Market Highlights:
Global Anti-Tank Missile Market Overview
Anti-Tank Missile Market Size was valued at USD 0.0135525 billion in 2023. The Anti-Tank Missile market industry is projected to grow from USD 0.01412848125 Billion in 2024 to USD 0.018907231 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.71% during the forecast period (2024 - 2032). The increasing utilization of unmanned aerial vehicles (UAVs) is anticipated to be a significant driver for the growth of the ground-based segment. The rise in UAV adoption has opened up new opportunities for ground-based anti-tank missiles are key market drivers are contributing to the enhanced growth of the market.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Anti-Tank Missile Market Trends
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A surge in the adoption of long-range anti-tank missile systems is driving the market growth
Long-range anti-tank missile system ensures missile system operator safety by keeping the operator out of tank cannon range. For instance, Turkey has developed a long-range air-to-surface anti-tank missile system named Mizrak-U or UTMAS. Mizrak-U has an operational range of 5-8 K.M. and can be integrated into aerial vehicles such as UAVs, helicopters, and light assault aircraft. Such long-range anti-tank missile system developments are expected to boost the market. Moreover, military agencies are investing in advanced weapons systems to establish dominance on the battlefield. For instance, in February 2020, the U.S. Department of Defense awarded a contract of approx. 18 million USD to Raytheon (a major US defense contractor headquartered in Massachusetts, U.S.) & Lockheed Martin (an aerospace & defense company headquartered in Maryland, US) for production of Javelin anti-tank missile systems for military sales to partner countries such as Ukraine, Turkey,, and Australia among others. Such investment in the procurement of weapon systems worldwide is expected to drive the anti-tank missile market CAGR.
Additionally, the increase in demand for composite armor penetration capability and the rise in adoption of long-range anti-tank missile systems are factors driving the market. However, developing anti-tank missile countermeasures such as active protection systems and electronic jammers hinders market growth. On the contrary, demand for precision targeting and fire & forget capabilities present new pathways in the industry.Furthermore,The increased acquisition of anti-tank missiles, increasing R&D investments in current missile systems, and the introduction of long-range anti-tank missiles all contribute to the worldwide market's growth. Thus, driving the Anti-Tank Missile market revenue.
Anti-Tank Missile Market Segment Insights
Anti-Tank Missile Type Insights
Based on type, the Anti-Tank Missile market segmentation includes man-portable and vehicle-mounted. The man-portable segment dominated the market, a man-portable anti-tank missile, also called a shoulder-launched anti-tank missile, dominates the market. These systems are compact and lightweight and can be carried by one soldier. The kit includes the missile, launcher, tripod assembly, and required optics. The man-portable anti-tank missile system destroys manpower, stationary and mobile armored vehicles.
Anti-Tank Missile Platform Insights
Based on the platform, the Anti-Tank Missile market segmentation includes airborne and ground-based. The dominant segment in the Anti-Tank Missile market is ground-based, primarily due to the increasing adoption of unmanned aerial vehicles (UAVs). Ground-based anti-tank missiles are specifically designed to be launched from the ground, either by armored vehicles or soldiers. These missiles are highly effective in striking and defeating ground-based targets such as heavily armored tanks and other armored fighting vehicles.
Anti-Tank Missile End User Insights
The Anti-Tank Missile market segmentation, based on end-users, includes military and commercial. The military segment dominated the market; due to the need for effective defense capabilities against armored vehicles and tanks. These missiles provide a crucial offensive and defensive capability for military forces, allowing them to neutralize enemy tanks and armored vehicles effectively. Furthermore, the continuous advancements in technology have resulted in the emergence of advanced anti-tank missiles that offer enhanced range, accuracy, and target acquisition capabilities. These technological improvements have significantly contributed to the attractiveness of anti-tank missiles for military applications. The development of missiles with extended range allows them to engage targets from greater distances, providing military forces with increased flexibility and tactical advantages on the battlefield.
Figure1: Anti-Tank Missile Market, by End User, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Anti-Tank Missile Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American anti-tank missile market will dominate this market, the technological developments in warfare platforms and rising military budgets in the region.
The market report focuses on analyzing the key countries, including the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Figure2: GLOBAL ANTI-TANK MISSILE MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Anti-Tank Missile market accounts for the second-largest market share owing to the increased focus on strengthening defense capabilities. Further, the German Anti-Tank Missile market held the largest market share, and the U.K. Anti-Tank Missile market was the fastest-growing market in the European Region.
The Asia-Pacific Anti-Tank Missile Market is expected to grow fastest from 2023 to 2032. This is due toincreasing terrorism and border threats in the Region, driving the demand in the Region. Moreover, China’s Anti-Tank Missile market held the largest market share, and the Indian Anti-Tank Missile market was the highest-growing market in the Asia-Pacific region.
Anti-Tank Missile Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Anti-Tank Missile market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Anti-Tank Missile industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Anti-Tank Missile industry to benefit clients and increase the market sector. The Anti-Tank Missile industry has offered some of the most significant advantages in recent years. Major players in the Anti-Tank Missile market, including Rafael Advanced Defense Systems (Israel), MBDA (France), Raytheon Company (U.S.), KBP Instrument Design Bureau (Russia), Saab AB (Sweden), Elbit Systems Ltd. (Israel), Denel Dynamics (South Africa), General Dynamics Corporation (U.S.), Lockheed Martin Corporation (U.S.), and ROKETSAN A.S. (Turkey)., and others, are attempting to increase market demand by investing in research and development operations.
Bharat Dynamics Limited is one of India's ammunitions and missile systems manufacturers. It was founded in 1970 in Hyderabad, India.Bharat Dynamics Limited announced the launch of three new defense products at DefExpo in Gujarat. These products will help to mitigate the product dependency of India on foreign countries. The products launched include an anti-tank guided missile (ATGM) for MBT ARJUN, a lightweight vehicle-mounted anti-tank guided weapon system.
Technology goods and services are offered by Raytheon Technologies Corp (Raytheon Technologies) to the aerospace and defence sectors. The product line of the corporation includes flying systems, power generating management and distribution systems, and commercial, general aviation and military aircraft engines. Additionally, it provides solutions for cybersecurity, electronic warfare, hypersonics, missile defence, naval warfare, ground warfare, and space. It also provides command and control and communications and navigation services.
Key CompaniesIn The Anti-Tank Missile Market Include
- Rafael Advanced Defense Systems (Israel)
- MBDA (France)
- Raytheon Company (U.S.)
- KBP Instrument Design Bureau (Russia)
- Saab AB (Sweden)
- Elbit Systems Ltd. (Israel)
- Denel Dynamics (South Africa)
- General Dynamics Corporation (U.S.)
- Lockheed Martin Corporation (U.S.)
- ROKETSAN A.S. (Turkey).
Anti-Tank Missile Industry Developments
October 2022: Bharat Dynamics Limited unveiled three new defense products during the DefExpo event held in Gujarat. These innovative products aim to reduce India's reliance on foreign nations for defense equipment. Among the products introduced are an anti-tank guided missile (ATGM) designed specifically for MBT ARJUN, as well as a lightweight anti-tank guided weapon system that can be mounted on vehicles.
September 2022: the Slovenian Ministry of Defense announced that they had awarded a contract to EuroSpike worth USD 6.6 million to supply the country with 50 Spike LR2 Long-range Anti-tank Guided Missiles (ATGMs). In addition, the systems will be mounted on Oshkosh's Joint Light Tactical Vehicles (JLTV).
Anti-Tank Missile Market Segmentation
Anti-Tank Missile Type Outlook
- Man-Portable
- Vehicle-Mounted
Anti-Tank Missile Platform Outlook
- Airborne
- Ground-Based
Anti-Tank Missile End User Outlook
- Military
- Commercial
Anti-Tank Missile Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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