LONDON--(BUSINESS WIRE)--The global anti-tank missile system market is expected to grow at a CAGR of close to 4% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global anti-tank missile system market by product, including vehicle-mounted and man-portable. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increased demand for extended range missiles
Eliminating enemies while remaining at a safe distance is crucial in a battlefield as it enhances the survivability of battle troops. As a result, defense agencies across the globe have been investing in developing extended-range missiles, which allow them to strike the enemy from miles away.
According to a senior analyst at Technavio for defense research, “At present, the US is testing an air-to-surface missile. The missile will be used on platforms such as the AH-64 Apache, MH-60R/S Seahawk, and MQ-1C Gray Eagle for the US Navy, Marine Corps, and Army. Such developments will allow rolling out of new generation products into the global anti-tank missile system market during the forecast period.”
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Market trend: development of next-generation anti-tank missiles
Combat scenarios usually involve military troops engaging in covert operations. Conventional weapons such as rifles and machine guns used by armed forces have limitations in penetrating obstructions when striking enemies. The need for heavier weapons, which can penetrate bunkers, walls, and vehicle armors is imperative. Besides, the asymmetric nature of present-day warfare requires that armed forces deploy weapons with extended range and striking precision to impart optimum lethality while averting collateral damage.
Market challenge: thermal management of missile systems
The growing demand for high-speed supersonic missiles has resulted in the innovation of superior quality thermal protection system (TPS). TPS protects the missile framework from strength deterioration and malfunctioning of electronic packages due to severe aerodynamic heating. Therefore, the primary goal of TPS is to keep excessive heat away from the vehicle or the missile launcher and the components within it.
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