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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Cruise Missile Market
Request Now !Cruise missiles are unmanned, guided, and self-propelled missiles targeted to deliver warheads with high precision. Over the years, the influence and application of missiles in modern warfare strategies have increased, urging the military & defense segment of nations to maintain a significant amount of cruise missiles. In addition, upgrading of technology has enabled modern cruise missiles to self-navigate, fly on a non-ballistic and extremely low-altitude trajectory, and travel at hypersonic and supersonic speeds. Moreover, these missiles are widely used in the attacking segment of the military where missiles of different ranges are put to diverse uses.Â
Market scope and structure analysis:
Report Metric | Details |
 Market size available for years |  2020–2027 |
 Base year considered |  2019 |
 Forecast period |  2021–2027 |
 Forecast unit |  Value (USD) |
 Segments covered |  Launch Platform, Range, Application, and Speed |
 Regions covered | North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa) |
 Companies covered | Lockheed Martin Corporation, Morgan Advanced Material PLC, Raytheon Company, DuPont, The Boeing Company, Aerojet Rocketdyne, Roketsan A.S, MBDA, Ceradyne Inc., and Tactical Missiles Corporation |
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COVID-19 scenario analysis:Â
The strategic gains of procuring cruise missiles surge the demand and application of cruise missiles in the military & defense. In addition, the growing defense budget and increased governmental stress on bolstering the military assets increase the demand for the product. Moreover, with advancement of technologies, manufacturers were able to develop advanced missiles with longer ranges and high speeds, which, in turn, are anticipated to foster the application of cruise missiles. However, high manufacturing and maintenance costs, followed by budget constraints are expected to hamper market growth.Â
The global cruise missile market trends are as follows:
Cruise missiles play a major role in the defense strategies of all nations; therefore, a certain amount of budget is precisely allocated to the same. In addition, countries across the globe augment their military & defense segment by increasing their military budget. Moreover, growing political and territorial issues across the borders of nations are anticipated to rise the military budget, thereby propelling the demand for cruise missiles. Growth in the defense budget is anticipated to enhance the combat capabilities of nations, allowing proper execution of planned strategies supported by adequate funding. In addition, government organizations tend to improve security systems by bolstering the military base of one’s nation by upgrading the military base. Therefore, the market flourishes with optimum demand from the same. Furthermore, the growing threat of terrorism and anti-security activities fosters the market growth.Â
Hypersonic missiles can travel five times more than the speed of sound. On encountering national security threats and perceiving the same for the future, the defense segment urges the need to deploy reliable hypersonic missiles. Moreover, one of the prominent reasons stressing the acquisition of hypersonic missiles is that no weapon can stand against the speed of hypersonic missiles, which makes them the strongest cruise missile among all others. In addition, their speed makes them formidable and developed nations seek to bolster their military warfare with integrating hypersonic technology into the existing missiles.Â
Key segments covered:
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 Key benefits of the report:
Questions answered in the cruise missile market research report:
Key Market Segments
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Key Market Players
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