Market Research Report
Sea Skimmer Missiles Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||707247|
|Published||Content info||92 Pages
Delivery time: 2-3 business days
|Sea Skimmer Missiles Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: May 1, 2019||Content info: 92 Pages||
The sea skimmer missiles market is estimated to grow at a CAGR of over 4% during the forecast period 2019-2024.
Sea Skimming is a technique incorporated by most of the anti-ship missiles. The technique is primarily used to avoid radar and infrared detection during an attack. The Sea Skimmer missiles usually fly below 50 meters above the sea surface. During an attack, a warship can detect sea-skimming missiles only once they appear over the horizon allowing just 25 to 60 seconds of warning. The success of sea-skimming missiles depends on its exact implementation, the infrared and radar signature of the missile, and the sophistication of the detection equipment. Sea skimming can also increase the range of a missile due to ground effects. The report also covers the analysis of different launch missiles namely, Surface-To-Surface Missiles and Air-To-Surface Missiles.
Currently, surface-to-surface missiles segment has the highest share of all the segments. There have been several developments in terms of surface-to-surface missiles. The RBS15 Mk3 missile manufactured by Saab AB is the latest generation, long range, Surface-to-Surface Missile (SSM) system. The system can be used as the main anti surface armament for any type of naval vessel. The RBS15 Mk3 has also been designed to operate in the naval scenario, from anti-ship engagement as well as land attack missions. Additionally, the missile has a range of 200 km and can be launched from ships, trucks, and aircraft. The missile also comes with high-precision GPS which helps for superior navigation. The missile system is in huge demand worldwide. In 2018, Saab AB, a Swedish defense contracting company announced that they have acquired orders from the German company Diehl Defence for delivering their RBS15 Mk3 anti-ship missile system for the five new K130 corvettes. According to Saab AB, the order is worth USD 18.1 million. Deliveries for the missile system shall take place between 2019 - 2024. Thus, upcoming developments shall increase the focus on this segment, and this shall be the reason for its expected high CAGR.
In the sea skimmer missiles market, North America shall experience the highest growth. The Department of Defense of the United States are now focused on developing and improving their naval combat systems owing to the growing maritime tensions. The United States has also developed various formidable missiles for sinking warships, the deadliest among them is the AG-84 Harpoon missile. These missiles fly with supersonic speed for about 150 miles using precision-guidance systems to skim over land or water, thus, making their detection harder. Additionally, the missiles can fly in unpredictable patterns upon being spotted thus making it harder to shoot them down. Thus, various ongoing developments in terms of sea skimmer missiles shall lead to its growth in North America in the near future.
Various players such as MBDA, Saab AB, Israel Aerospace Industries Ltd., Northrop Grumman Corporation and Raytheon Company hold significant market share as of December 2018. Various initiatives, as well as product innovations, which are being done by companies, have led them to strengthen their presence in the market. MBDA and Saab AB hold the major market share. In 2018, MBDA reported the success of their anti-ship missile, Sea Venom, which is being developed by Anglo-French funding. The Sea Venom is a sea-skimming missile which can fly for about 20 km at high subsonic speed. It has an imaging infrared seeker that provides "fire-and-forget" capability.