Detroit, March 26, 2025 (GLOBE NEWSWIRE) -- The global anti-tank missile system market is projected to witness a growth rate of 1.2% annually from 2024 to 2032, with an anticipated size of US$ 2.1 billion by 2032, according to an analysis by Stratview Research.
Stratview Research, a global market research firm, has launched a report on the global anti-tank missile system market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
| Market Size in 2032 (billion US$) | 2.1 |
| Growth (CAGR) | 1.2% during 2024-2032 |
| Forecast Period | 2024-2032 |
| Trend Period | 2018-2022 |
| Base Year | 2023 |
| Number of Segments Covered | 4 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 20 |
Segment Insights on the Anti-Tank Missile System Market:
The global anti-tank missile system market is segmented based on platform type, product type, guidance type, and region.
Based on platform type - The anti-tank missile system market is segmented into ground-based platforms and airborne platforms. Ground-based anti-tank missiles are likely to remain the dominant in the market in the foreseeable future. With the increasing terror threats and border disputes, the ground-based anti-tank missile is expected to remain dominant as well as the fastest-growing platform type in the market during the forecast period. Many countries across the world are intensifying their efforts to bolster their ground combat capabilities, with an emphasis on utilizing advanced and upgraded technologies.
Based on the product type – The market is segmented into man-portable and vehicle-mounted anti-tank missiles. Between both missile types, man-portable anti-tank missiles accounted for the largest share of the market in 2023, as these missiles are procured in a larger number as compared to their counterparts. It is likely that the man-portable anti-tank missile system market will witness the fastest growth during the forecast period. Lockheed Martin Corporation and Raytheon Technologies Corporation are the two major manufacturers who jointly manufacture one of the best-selling man-portable anti-tank missiles, Javelin.
Based on the guidance type - Based on guidance type, the market is segmented into laser-guided, infrared (IR)-guided, wire-guided, and others (mainly GPS-guided, SALCOS-guided, and beam-riding guided anti-tank missiles). Among these, laser-guided anti-tank missiles are the most commonly used missile across the world, owing to their precise targeting capabilities, which minimize collateral damage and enhance effectiveness in modern warfare scenarios. Owing to such benefits, the laser-guided anti-tank missiles segment is also likely to grow at a rapid pace in the market in the coming years.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the largest market for anti-tank missile systems during the forecast period. This growth outlook is majorly attributed to the following:
- Asia-Pacific is likely to maintain its supremacy in the global anti-tank missile system market throughout the forecast period, as the region is quite vulnerable to high-tension border conflicts and terror threats.
- Asia-Pacific holds the leading position in the anti-tank missile system market, largely attributed to China's emergence as a regional superpower and consistent rise in military spending in the country.
- Asia-Pacific is also expected to grow at the fastest pace in the market over the next eight years, propelled by increasing defense expenditure of key economies of the region, mainly China and India.
- In addition, rising geopolitical tensions, technological advancement of weapons, a focus on air power projection, and a changing threat landscape are also some of the key factors driving the fastest growth of the region in the anti-tank missile system market.
Anti-Tank Missile System Market Drivers:
Some of the key drivers listed in the report are given below.
- The military modernization programs, changing security threats, and geopolitical tensions. The defense departments of various countries strive to equip their military forces with advanced military technologies to maintain superiority in war, deter adversaries, and address emerging security challenges.
- The increase in geopolitical tensions, asymmetric warfare tactics, and territorial disputes boosts the need for powerful, flexible, and technologically advanced missile solutions. On the supply side, the anti-tank missile system market is marked by fierce competition among top defense contractors and missile producers.
- Firms spend a lot of money on research & development so they can innovate and make their products different from others; the focus is on the improvement of missile range, accuracy, lethality, and survivability, besides the design of the advanced guidance systems and the countermeasure capability.
- Furthermore, strategic partnerships, international collaborations, and government-funded projects contribute a lot to advancing technology and widening the market.
Top Companies in the Anti-Tank Missile System Market:
The market is highly fragmented with the presence of some regional as well as global players across the world. Most of the major players compete in some of the governing factors, including price, efficiency, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players (arranged alphabetically).
- Lockheed Martin Corporation
- MBDA
- Norinco Group
- Rafael Advanced Defense Systems Ltd
- Raytheon Technologies Corporation
- Saab AB
What Deliverables Will You Get in This Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Anti-tank Missile System Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, and Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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