PUBLISHER: Allied Market Research | PRODUCT CODE: 1414805
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414805
According to a new report published by Allied Market Research, titled, "Nuclear Bombs and Missiles Market," The nuclear bombs and missiles market was valued at $72.64 billion in 2020, and is estimated to reach $126.34 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030.
The progress in technology facilitates the expansion of both the range and payload capacity of nuclear missiles and is expected to drive the growth of the market. Extended ranges offer nations greater flexibility in deploying their nuclear capabilities, while increased payload capacity enables the delivery of more potent warheads. The developments in propulsion systems and guidance technologies contribute to the creation of more sophisticated and dependable delivery systems for nuclear missiles. This encompasses enhancements in propulsion efficiency, missile maneuverability, and the capability to evade anti-missile defenses.
Active nuclear bombs and missiles refer to those currently in operational deployment, maintained for immediate use as part of a nation's strategic defense. According to the Stockholm International Peace Research Institute, as of the beginning of 2022, nine countries-the U.S., Russia, the UK, France, China, India, Pakistan, Israel, and the Democratic People's Republic of Korea (DPRK or North Korea)-had an aggregate of approximately 12,705 nuclear weapons. Among these, an estimated 9,440 were held in military stockpiles for potential use. Approximately 3,732 of these warheads were thought to be deployed with operational forces, with around 2,000 maintained in a state of high operational alert. Active weapons are regularly maintained, upgraded, and form a crucial part of a nation's strategic deterrent. Immediate readiness provides a deterrent effect and quick response capability in the face of potential threats. The growth of active arsenals is influenced by evolving geopolitical threats and the need for modernization to counter emerging challenges. Collectively, Russia and the U.S. account for more than 90 %of the world's nuclear weapons. Moreover, together, the U.S. and Russia collectively represent nearly two-thirds of the total expenditure in nuclear weapons worldwide. Notably, China is undergoing a significant expansion of its nuclear arsenal. Such factors are expected to drive the demand for active nuclear bombs and missiles.
Reserve and retired nuclear bombs and missiles are those placed in reserve storage or formally decommissioned after being withdrawn from active service. The arms reduction agreements, technological advancements, and diplomatic efforts to reduce the overall number of nuclear weapons in the world contribute to the rise in the number of reserve and retired nuclear bombs and missiles. Internationally, the total warheads of nuclear weapons are on a downward trend, although at a slower rate than observed over the past three decades. Notably, this reduction is driven by the ongoing dismantling of retired warheads by the U.S and Russia. In contrast, the count of warheads within global military stockpiles, specifically those allocated to operational forces, is experiencing a resurgence. While the U.S continues a gradual reduction of its nuclear arsenal, France and Israel maintain relatively steady inventories. Importantly, the deployed strategic nuclear forces of both countries adhered to the stipulated limits outlined in the bilateral nuclear arms reduction treaty known as the 2010 Treaty on Measures for the Further Reduction and Limitation of Strategic Offensive Arms, commonly referred to as New START.
The nuclear bombs and missiles market is segmented on the basis of type, range, status, and region. Based on type, it is segmented into aircraft bombers and land base missiles, inter-continental ballistic missiles (ICBM), submarine-launched ballistic missiles (SLBM), and others. On the basis of range, it is classified into less than 1,000km, 1,000Km to 5,000km, and greater than 5,000km. By status, it is categorized into active, and reserve and retired. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some major companies operating in the market include: Airbus, ArianeGroup SAS, BAE Systems, Brahmos Aerospace, Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Rafael Advanced Defense Systems Ltd, Raytheon Technologies Corporation, and Boeing.
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)