Missile Seeker Detector Market Size, Share, Growth, and Industry Analysis, By Type (Portable Type and Desktop Type), By Application (Petrochemical, Automotive, Aerospace, Medical Equipment, Consumer Goods and Others) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2022 To 2030

Updated On: 11 September 2023

Missile Seeker Detector Market Report Overview

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The global missile seeker detector market size is expected to be USD 5.579 billion in 2022 and is projected to touch USD 7.287 billion by 2028, exhibiting a CAGR of 4.6% during the forecasting period.

A missile seeker detector is a device used for the detection of infrared or ultraviolet-guided missiles. AI-based missile seekers have been improved to increase their accuracy. The market is witnessing rapid growth in terms of its demand and usage, owing to the cross-border terrorist attacks and defence threats by neighboring countries. There are many different types of missiles that can be detected with these seekers, including infrared and radar missiles as well as infra-red guided weapons, laser guided weapons and heat seeking devices like Sidewinder missiles.

In recent years, countries around the globe have been building up their army defence systems to ensure their safety. As a result, demand for modern weaponry has increased, which has led to more spending on military equipment in this region. Moreover, strict policies are being imposed on import of weaponry in some regions, which is also expected to drive the missile detector market.

The missile detector market has been witnessing high growth in the recent past. Three major factors have led to the growth of this market. These include high threat from missiles, need for detection mechanism, and growing terrorism activities around the globe.

COVID-19 Impact:  Pandemic influenced industry’s demand & supply adversely

The global COVID-19 pandemic has been unprecedented and staggering, with the surface tensiometer market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Post COVID-19 pandemic, the equipment and machinery sector has faced various challenges, manufacturing disruptions, raw material shortages, a halt to international trade, and decreased demand from practically all end-user industries, including manufacturing and construction. Consequently, the impact of the covid-19 pandemic can be seen in the defence sector as well. The demand of weapons declined drastically. Therefore, the missile detector market growth faced a slowdown during the pandemic.

LATEST TRENDS

"War Crisis Hike the Demand for the Product That Boost Market Growth"

Recently, the Russia- Ukraine war has increased the demand for weapons in the world as it leads to the world war. However, there is no sign of a world war. Despite this, every country is working on its high tech weapons, missiles which demand the missile seeker detector. As a result, there will ever be a hike in the missile detector market.

Missile Seeker Detector Market Segmentation

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• By Type

On the basis of type the market is bifurcated into single- element liner array detector and multi-element liner array detector.

The multi- element type is the largest segment.

• By Application

On the basis of application, the market is divided into Air, Land, and Sea.

DRIVING FACTORS

"Increasing Demand for AI & High-Tech Weapons to Enhance Market Growth"

The market for missile seeker detectors is expected to grow at a very fast pace during the forecast period. The growth in the demand for missile seeker detectors is due to the continuously increasing number of missiles and other high-intensity warfare, which are driving the need for detection equipment to identify threats and defeat them.

As the threat of missiles continues to increase, nations are adopting methods that have been proven effective. Missile seeker detectors have been used by various countries to guard their borders and airspace from enemy attacks.

Missile seeker detectors are used to locate and identify the source of hostile radar signals. Radar warning receivers are specifically designed to detect forces that could be a threat or enemy. This force can be detected through their use of radar waves in the air, underwater, or on land.  Therefore, the missile market is projected to grow at a considerable rate in the upcoming years.

"Technological Advancements in Defence Sector to Augment Market Growth"

The Missile seeker detector market is expected to witness growth as there has been a surge in demand from defence forces all over the world due to geopolitical uncertainties and terrorism threats across major economies across the globe. There are also many developments taking place with respect to MSD technology and this will benefit companies operating in this industry as it will improve their product portfolio.

RESTRAINING FACTORS

"Mass Casualty to Constrain Market Growth"

The missile is a weapon that does mass destruction. Thus, there are certain rules & regulations which are to be followed while using the missile. The missile cannot be used in cities in the presence of civilians or buildings which may fall and can destroy the city. Due to such limitations on the usage of missiles, they are not preferred over weapons by most countries. 

Missile Seeker Detector Market Regional Insights

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North America holds the largest share of this industry. The two countries of the continent such as U.S. and Canada are one of the leaders of this industry and the headquarters of the leading brands such as Raytheon Technologies Airbus Defence and Space SAS, General Dynamics Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, and Raytheon are in the U.S. Both the country is propelling the market expansion with their largest investment in the modernisation of the military. The escalating usage of the fibre optic guidance system by the North America and other different region raised the growth of the missile seeker detector market industry.

KEY INDUSTRY PLAYERS

The industry players are dominating the missile seeker detector market share and its growth. As, the prominent players keep investing in the R&D of the latest missile seeker designs and technology. The market is also growing because of continuous technological advancement, which has led to more advanced and sophisticated radar systems. The missile detector equipment manufacturers have also been investing in R&D for new generation radars, which are capable of detecting modern threats and providing better solutions, geometrical structure, multiple independent re-entry vehicle (MIRV) and fiver optic guiding system. Also, the leading players are expected to have an impact on the market share in this area as they are actively engaged in exploring ways to produce better seekers for missiles.

List of Market Players Profiled

• Raytheon Technologies
• Northrop Grumman Corporation
• Leonardo S.p.A.
• Cobham Advanced Electronic Solutions
• Meteksan Defence Industry Inc.
• L3Harris Technologies, Inc.
• Safran S.A.
• ASELSAN A.S.
• BAE Systems plc
• Excelitas Technologies Corp.
• MBDA

INDUSTRY DEVELOPMENT

June 2021 - IRafael Advanced Defence Systems Ltd. revealed a 5^th generation of long-range, autonomous, precision guided missile system, Sea Breaker which empowers the attack performance against miscellaneous exclusive maritime and land targets.

October 2022 - The Storm Breaker smart weapon was declared by Raytheon Missiles & Defence, a Raytheon Technologies Business. The weapon has been sanctioned by the U.S. Air Combat Command. The weapon functions innovatively with multimode seeker.

REPORT COVERAGE

The latest report provides an idea of the current market state of the missile seeker detector’s upsurging demands, growth, and the impact of covid-19 on the market growth rate. Along with, market segmentation by system, application information is also provided. Besides, geographical data analysis, market rates, annual growth rate, revenue, marketing strategies and tactics are also described in the report. The regional data analysis segment gives you significant information about the leading countries and brands, their profit shares, new obtained technologies, sustainable development planning, demand & supply chain, manufacturing growth rate along with other significant data is covered in the report.