Market Research Report
Anti-tank Missile System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||975981|
|Published||Content info||141 Pages
Delivery time: 2-3 business days
|Anti-tank Missile System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: December 5, 2020||Content info: 141 Pages||
The global anti-tank missile system market grew at a CAGR of around 5% during 2014-2019. The anti-tank missile system refers to a guided missile intended for obliterating tanks and other vehicles in close battle fighting. These missiles are effective against small- and medium-sized main battle tanks (MBTs) and are available in various sizes that are used in the form of man-portable, tripod mounted and shoulder-launched variants. They are remotely controlled and are usually launched on the ground or through an aircraft. They usually consist of various target guidance systems, including laser guiding, wire guiding and digital imaging systems. In comparison to the traditionally used weapons, anti-tank missiles can penetrate heavier obstructions, such as bunkers, walls and armored vehicles.
The market is primarily being driven by an alarming increase in the instances of armed conflicts, violence and terrorism across the globe. Furthermore, the escalating need for military modernization to enhance national security is also driving the market growth. With the development of next-generation weaponry systems, governments and defense organizations, especially of developing nations, are rapidly adopting novel ATMSs to support and improve the survivability of the fight troops. Additionally, various technological advancements, such as the development of missiles with a dual-mode seeker, are acting as other growth-inducing factors. These missiles are equipped with infrared and visible color channels to capture targets in low thermal contrast and fiber-optic data links to facilitate remote access to the launch platforms. Other factors, including an overall increase in the defense expenditure across the globe, along with extensive research and development (R&D) activities to upgrade the existing weapon system, are anticipated to drive the market further. Looking forward, IMARC Group expects the global anti-tank missile system market to continue its moderate growth during the next five years.