The global sea skimmer missile market size was valued at $1.5 billion in 2022, and is projected to reach $2.7 billion by 2032, growing at a CAGR of 6.9% from 2023 to 2032.
Sea skimming is a technique many anti-ship missiles and some fighter or strike aircraft use to avoid radar and infrared detection. In addition, it is used to maintain a lesser likelihood of being shot down as they approach the target. Sea-skimming involves more than merely instructing the missile to fly low in the air. The z-position of sea-skimming missiles is continuously monitored by a radio-altimeter, which regulates this position through a guidance and control loop.
The rising deployment of sea-skimming missiles by fleets necessitates the development of modern defense systems capable of detecting, tracking, and intercepting these missiles. Increased investment in anti-ship missile defense technologies and systems are factors anticipated to drive the sea skimmer missile demand. The increasing threat of sea-skimming missiles boosts defense contractors and academic organizations to work on creating revolutionary counter-technologies. This, in turn, boosts R&D efforts, resulting in breakthroughs in missile defense capabilities. Territorial conflicts or geopolitical tensions can lead to increased defense spending, including investments in sea-skimming missile defense systems. This factor is expected to boost the sea skimmer missile market growth in the upcoming years.
In order to maintain low-altitude flight and avoid detection, sea skimmer missiles may have restricted range and endurance compared to higher-flying missiles. When engaging targets at larger distances, this constraint may limit their operational reach and efficacy. In addition, the effectiveness of sea skimmer missiles is greatly dependent on the maritime environment. Rough seas, terrible weather, and complex coastline geography can all hamper flight performance and accuracy. The use of sea skimmer missiles in densely populated coastal areas raises legal and ethical concerns about collateral damage and innocent casualties. All of these reasons are limiting the growth of the sea skimmer missiles market.
Technological improvements, such as the use of artificial intelligence (AI) in marine skimmer missiles, are projected to create growth opportunities in the market. Integrating artificial intelligence with sea skimmer missiles has the potential to improve targeting and guidance systems, resulting in increased precision in hitting targets. This increased accuracy has the potential to provide a huge advantage in modern combat, particularly in cases where avoiding collateral damage is critical. The use of AI in military technologies such as sea skimmer missiles has the potential to open up new opportunities for defense contractors and technology firms specializing in AI and autonomous systems.
The sea skimmer missile market is segmented into Application and Type.
By application, the defense sub-segment dominated the global sea skimmer missile market share in 2022. Global sea skimmer missiles are used to deter targets such as warships and other fast-moving vessels. When launched from air or sea, the missiles can strike surface threats from a larger range. The development and deployment of defense missiles by potential adversaries necessitates the development and deployment of credible countermeasures. As defense missiles become more contemporary and capable, countries invest in sea skimmer missiles to maintain a competitive edge and protect their naval forces. The increasing threat of piracy, smuggling, and terrorism in maritime areas promotes the need for strong naval defensive systems. Sea skimmer missiles are a sort of naval weapon used to defend coastal areas, critical infrastructure, and maritime trade routes.
The sea skimmer missile market is segmented on the basis of type, application, and region. By type, the market is divided into surface-to-surface missiles and air-to-surface missiles. By application, the market is classified into defense and homeland security. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By type, the surface-to-surface missiles sub-segment dominated the market in 2022. Significant advances have been made in surface-to-surface missile technology in the last few years. The RBS15 Mk3 missile from Saab AB is the most recent version of long-range surface-to-surface missile (SSM) armament. The system can function as the principal anti-surface weapons for any type of naval vessel. The RBS15 Mk3 is also intended to be used in a marine environment, including anti-ship combat and land attack operations. The missile can also be launched from ships, vehicles, or aircraft and has a range of 200 kilometers. The missile also has a high-precision GPS system that aids in navigation. Therefore, surface-to-surface missile system is in high demand worldwide.
The key players profiled in this report include Boeing Company, Saab AB, Israel Aerospace Industries Ltd, Orbital ATK Inc, MBDA, BrahMos Aerospace, Kongsberg Gruppen AS, Raytheon Company, Northrop Grumman Corporation, and DRDO. Investment and agreement are common strategies followed by major market players. Northrop Grumman Corp company offers sea skimmer missiles whose design integrates a solid-fuel, air-breathing ducted rocket propulsion system with high-performance avionics capable of emulating multiple scenarios to prepare and protect the company’s warfighters against evolving threats, under the brand name of Northrop Grumman.
By region, North America dominated the global market in 2022. The significant increase in investments for the development of sea skimmer missiles is expected to aid the growth of the North America sea skimmer missile market during the forecast period. Increased investment in the development of sea skimmer missiles can result in technological breakthroughs like enhanced range, speed, and guidance systems. These upgrades can make North American missiles more competitive in the worldwide market and increase their naval defense capabilities. North American corporations and research institutions may be able to deliver more advanced and novel sea skimmer missile solutions than their competitors with increasing funding. This is projected to strengthen North American defense companies' market position in the global sea skimming missile industry.
Impact of COVID-19 on the Global Sea Skimmer Missile Industry
- The COVID-19 pandemic had a significant impact on various industries worldwide, including the defense and missile industry. Several defense manufacturers faced disruptions in their production processes due to lockdowns, travel restrictions, and labor shortages. This led to delays in the delivery of missile systems.
- Several countries faced economic challenges during the pandemic, which impacted their defense budgets. Therefore, some countries delayed or reduced missile procurement plans to allocate resources to healthcare and economic recovery. The pandemic affected global supply chains, leading to shortages of raw materials and components needed for missile production. This further contributed to delays and increased production costs.
- Governments' focus during the pandemic shifted towards health and humanitarian efforts rather than missile development and procurement. Countries with major missile manufacturers imposed export restrictions on sensitive defense technologies during the pandemic to protect national interests.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the sea skimmer missile market analysis from 2022 to 2032 to identify the prevailing sea skimmer missile market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the sea skimmer missile market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global sea skimmer missile market trends, key players, market segments, application areas, and market growth strategies.
Sea Skimmer Missile Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 2.7 billion |
 Growth Rate | CAGR of 6.9% |
 Forecast period | 2022 - 2032 |
 Report Pages | 280 |
 By Application |
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 By Type |
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 By Region |
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 Key Market Players | Northrop Grumman Corporation, Orbital ATK Inc, Israel Aerospace Industries Ltd, BrahMos Aerospace, SAAB AB, Raytheon Company, Kongsberg Gruppen AS, Boeing Company, MBDA, Defence Research And Development Organisation |
The ability of the sea skimmer missile to fly at low altitudes and avoid radar detection makes it an appealing alternative for governments of various countries looking for modern anti-ship and coastal defense systems. Furthermore, technological advancements such as the usage of artificial intelligence in sea skimmer missiles are expected to boost the market growth.
The major growth strategies adopted by sea skimmer missile market players are investment and agreement.
Asia-Pacific will provide more business opportunities for the global sea skimmer missile market in the future.
Boeing Company, Saab AB, Israel Aerospace Industries Ltd, Orbital ATK Inc, MBDA, BrahMos Aerospace, Kongsberg Gruppen AS, Raytheon Company, Northrop Grumman Corporation, and DRDO are the major players in the sea skimmer missile market.
Surface-to-surface missiles sub-segment of the type acquired the maximum share of the global sea skimmer missile market in 2022.
Défense and homeland security are the major customers in the global sea skimmer missile market.
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global sea skimmer missile market from 2023 to 2032 to determine the prevailing opportunities.
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