Anti-Armor Missile Market Forecast to Climb to Over $16 Billion in War’s Wake

Javelin missile production line

Javelin F-Model (FGM-148F) Missile. Image – Lockheed Martin

“The tank is dead.  Long live the tank.”  There has been no shortage of foolish ideas throughout history, and many such utterances will come in the future.  Future conflicts would involve light forces, small wars, and counterinsurgency campaigns, the “experts” confidently proclaimed.

Well, the tank is alive and well.  Tank production will exceed 2,700 vehicles through the forecast period.  As long as tanks are around, armies will need countermeasures.  This is where anti-armor missiles come in, and Ukrainian soldiers are showing how effective they can be.

The market for anti-armor missiles will be worth $16.8 billion during the forecast period, involving the production of 253,877 missiles.  The leading players in this market will be U.S. firms, specifically Lockheed Martin and Raytheon, both of which will be engaged in individual and joint ventures.  Together, U.S. companies will account for a 23 percent ($3.87 billion) value share of this market.

Europe’s position within this market has deteriorated, but it will begin to climb again once new systems are available. European companies will control a 19.08 percent ($3.2 billion) value share (this includes Ukraine, but not Russia).

The anti-armor missile will likely experience an evolution similar to that of its anti-ship and strike counterparts.  These missions, once performed by individual missiles, may merge.  In the future, a single missile may engage aircraft, vehicles and bunkers.

Source: Forecast International Platinum Forecast System.

Forecast International’s Missile Forecast provides global long-range forecasts for a wide range of missiles, including air-to-air, surface-to-air, strike, anti-armor, surface-to-surface, anti-ship, and anti-radiation systems, both developmental and in production.  An annual subscription includes 134 individual reports, most with a 10-year production forecast.

Product comes complete with five Market Segment Analyses, covering the markets for: Anti-Tank Missiles; Surface-to-Air Missiles; Anti-Ship Missiles; Air-to-Air Missiles; and Strike MissilesFor more information, click here