The global anti-tank missile system market is expected to reach USD 3.36 billion by 2030, at a CAGR of 3.68% from 2022 to 2030. Anti-tank missile system market growth would be driven by the increasing defense budget of countries globally. With the rise in the number of cross-border conflicts, the need to protect national assets and the population in instances of unjustified aggression has become paramount to the federal governments worldwide. Anti-tank missile systems are utilized to destroy armored vehicles and tanks that target and destroy vital bunkers, troops, communication lines, and military transport on the battlefield. The rise in border standoffs arising due to territorial conflicts has highlighted the need to induct anti-tank missile systems in the military arsenal to protect the forward troops while successfully delivering their missions. The technological advancements in offensive technologies with the ability to strike targets without being intercepted have called for the development of sophisticated and modern defensive technologies to destroy such stealth weaponry and protect nations. The Russian invasion of Ukraine has highlighted the need to have robust national defense apparatus in place equipped with the latest technologies to protect one's country and defend its sovereignty.

Market Overview:

Battles and wars around the world have evolved. They went from arrows to pistols and then to machine guns. Modern warfare uses sophisticated weaponry like assault rifles, missiles, rockets, machine guns, rocket launchers, and tanks. Tanks are heavily armored vehicles. They are made of composite material with high density, which is hard to penetrate. Tanks are used on the battlefield in close combat. It has heavy firepower, can maneuver in any battlefield terrain given its design, and destroy enemy troops with a single blow. The primary function of a tank is to act as a weapons platform. The weapon is mounted on the tank to destroy targets while protecting the operator inside its heavy armor. The mounted weapon is flexible and enables the operator to target with 360-degree maneuverability. Tanks can intake intense gunfire allowing the troops to push past enemy lines, displaying their critical role on the battlefield. Light, medium, heavy, cavalry, infantry, and cruiser are some types of tanks present in the modern world. Although having tanks as a weapon in an offensive battle is advantageous, it has devasting consequences when the troops are on the defensive. Anti-tank missile systems are utilized To neutralize and destroy the incoming tanks. They are designed and developed to penetrate the heavy armor of tanks and destroy them. Anti-tank missiles are compact and hence undetectable, and they can be carried easily due to their lightweight feature. With new technologies, their range has improved, which increases their range of attack, giving a strategic advantage to the army on the battlefield. Conventional wars on the battlefield will continue in the contemporary world despite the significant advances made in the defense sector. Close combats will continue to be the primary form of war, and an anti-tank missile is a weapon that every national army needs.

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Market Dynamics:

Drivers:

• The growing defense expenditure due to rising territorial conflicts

The Russian invasion of Ukraine, the Armenia-Azerbaijan war over Nagorno-Karabakh, Indo-Sino standoff on the LAC display the ensuing security crisis globally. The rising number of territorial conflicts have arisen in the recent past due to the growing polarization and hyper-nationalism in major economies. Such disputes and conflicts have bought many troops, arms, ammunition, weaponry, and artillery for disputing parties in an aggressive position. A heavy presence of tanks is also witnessed at these standoffs, battles, and wars. Anti-tank missile systems are also deployed to protect the frontline troops, bunkers, communication towers, and forward posts from being targeted by heavily armored vehicles. With the advent of new technological innovations, better anti-tank missiles with increased range, precision, and effectiveness are being developed by sovereign governments in collaboration with private players. The rising conflicts contribute to the increasing military expenditure to bolster the country's defenses. The demand for anti-tank missile systems to protect the infantry, the country’s first line of defense in case of wars, is gaining traction. The increase in the defense budget will positively contribute to the growth of the defense missile systems market.

Restraints:

• Training

Anti-tank missile system market growth would be hampered by the extensive training required to operate this sophisticated piece of weaponry. Anti-tank missile systems are created in line with specific objectives of penetrating the heavy armor of tanks and effectively destroying them. The control and operations of these systems involve various high-end components with the best technologies. The workings of all such parts have to be learned to deliver the results optimally. With the frequent launch of new and advanced technologies, the scope of operators equipped with the skills to control a system decreases, hampering the market's growth.

Opportunities:

• The rising adoption of long-range anti-tank defense missile systems

Over the past few years, the developments and innovations in anti-tank missile defense systems have made them operable from all platforms, namely, air, sea, and ground. The long-range anti-tank missiles allow both fire-and-forget and fore-and—update mode. It also has lock-on before and lock-on after features. Long-range anti-tank missiles provide precision and the previously mentioned features, contributing to their rising adoption in the global anti-tank missile system market. Increased research and development will further facilitate the development of this industry by providing lucrative opportunities to the market players.

Challenges:

• Development of countermeasures

The newly developed advanced and high-end anti-tank missile system systems have prompted the market players and governments to create advanced tanks with enhanced defensive capability. Active protection systems and electronic jammers are some systems that are incorporated into tanks to enable them to evade anti-tank missile defense systems. Such technologies will challenge the growth of the anti-tank defense missile system.

Segmentation Analysis:

The global anti-tank missile system market is segmented based on platform, product type, application, and regions.

• The platform segment is divided into ground and airborne. The ground segment dominated the market, with a market share of around 58% in 2021. The development of anti-tank missiles started from the innovation of the ground-based anti-tank missile system. This segment is well-established and mature compared to the airborne segment. The airborne segment has gained traction in the recent past with the advent of technological advancements which facilitated the integration of anti-tank missile systems with aircraft. The ground segment will continue to dominate the anti-tank missile market attributed to the portable, reliable, and easy handling features. The familiarity of the ground platform, unlike the airborne platform, also contributes to its large market share in the anti-tank missile systems platform segment.
• The product type segment is divided into man-portable and vehicle-mounted. Over the forecast period, the man-portable segment is expected to grow at the fastest CAGR of 4.52%. The man-portable anti-tank missile systems can be carried easily across terrains inaccessible to vehicles. They are lightweight, simple, reliable, and easy to handle. Man-portable anti-tank missiles have simple operations, which contributes to their increasing adoption in the anti-tank missile systems market.
• The application segment is divided into defense and internal security. In 2021, the defense missiles segment dominated the market, accounting for around 65% of global revenue. Tanks are primarily used in close combat situations like battles and wars. The various defense organizations mainly develop them to improve military capabilities. Similarly, to combat the increasing number of tanks in defense, anti-tank missile defense systems are being developed for the defense sector. The defense sector will continue to dominate the applications segment as anti-tank missile systems are primarily focused on destroying heavily armored vehicles on the battlefield.

Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North American region emerged as the largest market for the global anti-tank missile system, with a 36.31% share of the market revenue in 2021.

• North America currently dominates the anti-tank missile system market due to the massive defense capital spending undertaken by the United States federal government. The defense and strategic alliances with other countries have led to defense collaborations resulting in the developing of the most advanced and high-end anti-tank missile systems. The presence of significant private defense manufacturers who undertake research and development of high-end, sophisticated, and effective anti-tank missile systems also contributes to North America's dominance in the missile defense market. The U.S. is increasingly spending money developing better systems to stay ahead of adversaries like China and Russia to retain their dominance in the defense manufacturing and supplier category.

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global anti-tank missile system industry.

Raytheon and Lockheed Martin were awarded a contract by the U.S. Department of Defense in February 2020 to produce Javelin anti-tank missile systems for military sales to partner countries such as Ukraine, Turkey, and Australia, among others.

List of Key Market Players:

• Elbit Systems Ltd.
• General Dynamics Corporation
• Denel Dynamics
• Lockheed Martin Corporation
• MBDA Missiles Systems
• KBP Instrument Design Bureau
• Rafael Advanced Defense Systems Ltd.
• Raytheon Technologies Corporation
• ROCKETSAN A.S.
• BAE Systems PLC

Key Target Audience

• Original Equipment Manufacturers
• Defense Manufacturers
• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Third-party knowledge providers
• Value-Added Resellers (VARs)

Report Description:

• Global Anti-tank missile system market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
• 2021 is considered as the base year of the report. 2019 and 2020 are considered the historic years and 2022 to 2030 are the forecast years. The global anti-tank missile system market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each segment, region, and country catering to the global anti-tank missile system market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
• The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of anti-tank missile system-based on platform, product type, application, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
• The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global anti-tank missile system market. This offers vital and in-depth insights to depict the overall market scenario.
• The report offers the detailed study for the company profiles of key organizations operating in the global anti-tank missile system market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
• The report provides an elaborative assessment of the porter's five forces analysis coupled with SWOT analysis to provide business related data and information. Porter's five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company's growth and development to sustain and survive in the long run.
• Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
• Potential growth prospects along with the penetration rate analysis of the product (market related, i.e., global anti-tank missile system market) is covered to comprehend the adoption rate and evaluate the market size.