Man Portable Anti-Tank Guided Missile System Market Outlook – 2027
The global man portable anti-tank missile system market is experiencing a significant growth due to surge in defense expenditure globally. Anti-tank missile system is a missile system used to destroy tank or armored vehicles. Man portable anti-tank missile system enables infantry in a battlefield to destroy armored vehicles from a greater distance using guidance system such as laser, radar, and electro-optical imager seeker. Tanks and other armored vehicles are used in close ground warfare and pose a significant threat to ground infantry and war establishments such as bunker, communication towers, ammunition depot among others. Anti-tank missile system neutralizes an armored vehicle by penetrating thick armor & destroying it.
COVID-19 scenario analysis:
Anti-tank missile system manufacturers are forced to halt their production operations due to supply chain disruption caused by the government- imposed lockdown to slow the spread of COVID-19.
Military agencies are also forced to delay their anti-tank missile system procurement plans.
Defense contractors are suffering financial losses due to inventory holding cost of unfinished anti-tank missile system owing to the lack of workforce & raw materials.
Anti-tank missile system development & trail process is heavily impacted due to travel ban imposed by authorities to control the COVID-19 outbreak, restricting travel of employees to the workplace.
Governments have diverted all financial resources to combat the COVID-19 pandemic; hence, all transfer and sales of anti-tank missile system will be put on hold until the situation normalizes.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Surge in military expenditure, increase in demand for composite armor penetration capability, and rise in adoption of long-range anti-tank missile system are the factors that drive the global man portable anti-tank missile system market. However, development of anti-tank missile countermeasures such as active protection system and electronic jammers hinder the market growth. On the contrary, the demand for precision targeting and fire & forget capabilities present new pathways in the industry.
The global man portable anti-tank missile system market trends are as follows:
Surge in military expenditure
Military agencies are investing in advanced weapons systems to establish dominance in the battlefield. For instance, in February 2020, US Department of Defense awarded a contract of approx. 18 million USD to Raytheon (a major US defense contractor headquartered in Massachusetts, US) & Lockheed Martin Corporation (an aerospace & defense company headquartered in Maryland, US) for production of Javelin anti-tank missile systems for military sales to partner countries such as Ukraine, Turkey, and Australia among others. Also, in 2020, Lockheed Martin Corporation and Raytheon Company was awarded a contract to build Javelin anti-tank missiles for the US Army, US Marine Corps, and US Navy under terms of a 121.8 million USD order. The Javelin anti-armor weapon is an infantry fire-and-forget missile guided with electro-optics system with lock-on before launch and automatic self-guidance designed to destroy main battle tanks, armored personnel carriers, and other armored combat vehicles. Such surge in military expenditure is expected to drive the global man portable anti-tank missile system market.
Key benefits of the report:
- This study presents the analytical depiction of the global man portable anti-tank missile system industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global man portable anti-tank missile system market share.
- The current market is quantitatively analyzed to highlight the global man portable anti-tank missile system market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global man portable anti-tank missile system market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the man portable anti-tank missile system market research report:
- Which are the leading market players active in the man portable anti-tank missile system market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Man Portable Anti-Tank Guided Missile System Market Report Highlights
Key Market Players
KBP Instrument Design Bureau, ROKETSAN A.S., Saab AB, Elbit Systems Ltd., Rafael Advanced Defense Systems, Lockheed Martin Corporation, Raytheon Company, MBDA, General Dynamics Corporation, Denel Dynamics