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Maritime Missile Launch System Market Report
PORTLAND, OREGAON, UNITED STATES, February 7, 2024 /EINPresswire / -- According to a recent report published by Allied Market Research, titled, "Maritime Missile Launch System Market Size, Share, Competitive Landscape and Trend Analysis Report by System (Vertical Launching System, Single Cell Launcher, and Vertical Launch Anti-Submarine), Mode (On-Surface and Submarine), and Launch Type (Hot Launch, Cold Launch, and Concentric Canister Launch): Global Opportunity Analysis and Industry Forecast, 2021-2030.
Maritime Missile Launch System Market Statistics 2021-2030 :
The global maritime missile launch system market was valued at $280.7 million in 2020, and is projected to reach $458.7 million by 2030, registering a CAGR of 5.8%.
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Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. U.S. dominated the global maritime missile launch system market share in North America in 2020, owing to increase in R&D activities, technological developments by big players, and rapid adoption of innovative technologies in making safer, convenient, and efficient maritime missile launch systems. North America is expected to grow at a significant rate during the forecast period, owing to rise in modernization initiatives regarding development of reliable and efficient missile launch systems.
By system, the market is categorized into vertical launching system, single cell launcher, and vertical launch anti-submarine. The vertical launching system segment accounted for the highest revenue in 2020, owing to high demand for vertical launch systems in maritime missile launch systems, owing to their reliable, most practical, and efficient nature.
By launch type, the maritime missile launch system market is divided into hot launch, cold launch, and concentric canister launch. The cold launch segment accounted for the highest revenue in 2020, owing to high safety of the system and rise in use of cold launch systems for launch of modern missiles.
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Rise in number of territorial conflicts throughout the world and naval modernization programs are expected to drive the market during the forecast period. However, high cost of maritime missile launch systems is anticipated to hamper growth of the market. Moreover, reliable and efficient vertical launch maritime missile launch systems and rise in defense expenditure globally are expected to offer lucrative opportunities in the future.
KEY FINDINGS OF THE STUDY :
By system, the vertical launching system segment is expected to register a significant growth during the forecast period.
By mode, the on-surface segment is anticipated to exhibit significant growth in the future.
By launch type, the cold launch segment is projected to lead the global maritime missile launch system market, owing to higher CAGR as compared to the hot launch segment.
By region, North America is anticipated to register the highest CAGR during the forecast period.
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Leading Market Players :
BAE Systems plc,
General Dynamics Corporation,
Konsberg Gruppen ASA,
Lockheed Martin Corporation,
Rafael Advanced Defense Systems Ltd.,
Raytheon Technologies Corporation,
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About Us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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