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Add to CartGlobal Anti-Tank Guided Missile System Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Mounting;
Shoulder, Tripod and Vehicle.By Operation;
Manned and Unmanned.By Platform;
Land and Airborne.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).Introduction
In the year 2024, the Global Anti-Tank Guided Missile System Market was valued at USD 12,541.23 million. The size of this market is expected to increase to USD 16,503.41 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 4.0%.
The Global Anti-Tank Guided Missile (ATGM) System Market is a dynamic and strategically significant segment within the defense industry, reflecting the evolving nature of modern warfare. ATGMs play a crucial role in providing infantry and armored units with precision firepower against heavily armored targets, making them essential assets for military forces worldwide. As the international security landscape continues to witness technological advancements and geopolitical shifts, the demand for sophisticated and effective ATGM systems has surged.
In recent years, the market has experienced substantial growth driven by an increasing focus on enhancing military capabilities, territorial defense, and the need to counter emerging threats. Nations are investing heavily in the development and acquisition of advanced ATGM systems to maintain a competitive edge in the evolving theater of warfare. This trend is underscored by the persistent demand for precision-guided munitions that offer enhanced accuracy, longer ranges, and improved target acquisition capabilities.
The market is characterized by a diverse range of players, including established defense contractors, emerging technology firms, and collaborative international ventures. Collaboration and partnerships between countries and defense contractors have become a prevalent strategy to pool resources, share technological expertise, and jointly develop cutting-edge ATGM systems. This collaborative approach not only facilitates cost-sharing but also contributes to the standardization of technologies and interoperability among allied forces.
The emergence of next-generation technologies such as artificial intelligence, advanced sensors, and improved guidance systems has significantly influenced the evolution of ATGM systems. These technological advancements not only enhance the precision and lethality of the missiles but also contribute to minimizing collateral damage and improving overall operational efficiency. Additionally, the integration of network-centric warfare capabilities into ATGM systems further enhances their effectiveness by enabling real-time data exchange and communication between various battlefield assets.
While the Global Anti-Tank Guided Missile System Market presents lucrative opportunities for industry participants, it also faces challenges such as regulatory constraints, budgetary limitations, and the ethical considerations associated with the use of advanced weaponry. Striking a balance between innovation, affordability, and ethical use remains a key consideration for both manufacturers and defense agencies as they navigate the complexities of this dynamic market. As geopolitical tensions persist and military modernization efforts continue, the Global ATGM System Market is expected to remain a critical and dynamic component of the broader defense industry landscape.
Global Anti-Tank Guided Missile System Market Recent Developments & Report Snapshot
Recent Developments:
- October 2022:Bharat Dynamics Limited unveiled three new defense products during the DefExpo event held in Gujarat. These innovative products aim to reduce India's reliance on foreign nations for defense equipment. Among the products introduced are an anti-tank guided missile (ATGM) designed specifically for MBT ARJUN, as well as a lightweight anti-tank guided weapon system that can be mounted on vehicles.
- September 2022:the Slovenian Ministry of Defense announced that they had awarded a contract to EuroSpike worth USD 6.6 million to supply the country with 50 Spike LR2 Long-range Anti-tank Guided Missiles (ATGMs). In addition, the systems will be mounted on Oshkosh's Joint Light Tactical Vehicles (JLTV).
| Parameters | Description |
|---|---|
| Market | Global Anti-Tank Guided Missile System Market |
| Study Period | 2021 - 2031 |
| Base Year (for Anti-Tank Guided Missile System Market Size Estimates) | 2024 |
| Drivers |
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| Restraints |
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| Oppurtunities |
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Segment Analysis
This report extensively covers different segments of Global Anti-Tank Guided Missile System Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments.
The Global Anti-Tank Guided Missile (ATGM) System Market can be analyzed through several key segments, each playing a vital role in shaping the industry's dynamics.
ATGMs are categorized based on their guidance systems, with wire-guided, laser-guided, infrared homing, and radio frequency-guided systems being prominent examples. The choice of guidance system influences factors such as accuracy, target acquisition capabilities, and operational range, catering to diverse mission requirements.
ATGMs can be launched from various platforms, including ground-based launchers, helicopters, and armored vehicles. Each launch platform has unique operational advantages and constraints, addressing specific tactical scenarios. The flexibility to integrate ATGMs across different platforms enhances their versatility on the modern battlefield.
ATGMs are classified based on their operational range, ranging from short-range to long-range systems. Short-range ATGMs are typically portable and suitable for infantry use, while long-range variants are designed for more strategic and standoff engagements, providing military forces with options tailored to the specific needs of diverse operational environments.
Different warhead types, such as high-explosive anti-tank (HEAT) or tandem warheads, are utilized in ATGMs to penetrate armored targets effectively. The choice of warhead depends on the intended target and the level of armor it possesses, allowing military forces to tailor their arsenal for specific threats.
The market caters to various end users, including military forces, paramilitary organizations, and law enforcement agencies. The diverse end-user base influences the specifications and requirements of ATGM systems, with military forces often demanding advanced, mission-specific capabilities to address evolving threats.
Geographical segmentation plays a crucial role in understanding the demand and market trends. Different regions may have varying security challenges, geopolitical considerations, and defense budgets, influencing the adoption and procurement of ATGM systems. Regional analysis helps industry stakeholders tailor their strategies to specific market dynamics.
Analyzing the Global Anti-Tank Guided Missile System Market through these key segments provides a comprehensive understanding of the industry's intricacies, allowing stakeholders to make informed decisions and strategically position themselves in this dynamic and evolving market.
Global Anti-Tank Guided Missile System Segment Analysis
In this report, the Global Anti-Tank Guided Missile System Market has been segmented by Mounting, Operation, Platform and Geography.
Global Anti-Tank Guided Missile System Market, Segmentation by Mounting
The Global Anti-Tank Guided Missile System Market has been segmented by Mounting into Shoulder, Tripod and Vehicle. The Global Anti-Tank Guided Missile (ATGM) System Market is intricately segmented by mounting methods, providing a nuanced understanding of deployment strategies. Vehicle-mounted ATGMs are integrated into armored platforms, empowering ground forces with mobile and potent anti-tank capabilities.
Helicopter-mounted systems offer airborne assets precision-strike capabilities, enhancing versatility in engaging ground targets from an aerial vantage point.
Infantry/portable-mounted ATGMs, designed for ground forces, provide maneuverability and adaptability in diverse terrains. This segmentation aligns with specific mission requirements, allowing military forces to select ATGMs tailored to the operational context, whether on land or in the air. The diverse mounting options highlight the market's responsiveness to the evolving needs of modern warfare across various theaters
The report also provides an analysis of why the market size of the various segments by Mounting is increasing or decreasing with time along with the reasons for changes in the YOY growth with time.
Global Anti-Tank Guided Missile System Market, Segmentation by Operation
The Global Anti-Tank Guided Missile System Market has been segmented by Operation into Manned and Unmanned. The Global Anti-Tank Guided Missile (ATGM) System Market is intricately segmented by operation, offering a nuanced understanding of the diverse ways these advanced missile systems are employed.
Anti-Tank Guided Missiles can be categorized based on their operational modes, including fire-and-forget and command guidance systems. Fire-and-forget systems are designed for autonomous target engagement, providing the missile with the ability to navigate and strike the target independently after launch.
On the other hand, command guidance systems involve continuous guidance by the operator, allowing real-time adjustments during the missile's flight. This segmentation aligns with specific operational requirements, offering military forces flexibility in selecting ATGMs tailored to mission objectives and the dynamic nature of modern warfare. The distinction between these operational modes reflects the evolving technologies and strategic considerations within the ATGM market.
The report also provides an analysis of why the market size of the various segments by Operation is increasing or decreasing with time along with the reasons for changes in the YOY growth with time.
Global Anti-Tank Guided Missile System Market, Segmentation by Platform
The Global Anti-Tank Guided Missile System Market has been segmented by Platform into Land and Airborne. The Global Anti-Tank Guided Missile (ATGM) System Market is segmented by platform, offering a comprehensive perspective on the diverse deployment methods of these advanced missile systems.
The categorization includes ground-based, air-based, and naval-based platforms. Ground-based ATGMs are mounted on vehicles, providing mobility and versatility for land forces in various terrains. Air-based platforms involve the integration of ATGMs on helicopters and unmanned aerial vehicles (UAVs), enabling precision strikes from the air.
Naval-based platforms feature ATGM systems installed on naval vessels, enhancing maritime defense capabilities.
This segmentation reflects the adaptability of ATGMs across different military domains, allowing defense forces to choose platforms that align with their specific operational needs and strategic objectives. The diversity in platform options underscores the market's responsiveness to the evolving dynamics of modern warfare across land, air, and sea.
The report also provides an analysis of why the market size of the various segments by Platform is increasing or decreasing with time along with the reasons for changes in the YOY growth with time.
Global Anti-Tank Guided Missile System Market, Segmentation by Geography
In this report, the Global Anti-Tank Guided Missile System Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
The Global Anti-Tank Guided Missile System Market is projected to experience substantial growth from 2024 to 2030, with a comprehensive analysis focusing on key geographical regions. In North America, robust defense spending and modernization efforts, particularly in the United States, contribute significantly to market expansion. Europe is expected to witness substantial growth fueled by collaborative defense projects and rising security concerns. The Asia Pacific region, driven by increasing defense budgets and geopolitical tensions, emerges as a key market player, with nations like China and India investing significantly in advanced missile systems.
The Middle East and Africa anticipate notable growth due to regional conflicts and the demand for precise defense capabilities. Latin America, characterized by moderate growth, is influenced by security concerns and military modernization initiatives, especially in countries like Brazil and Mexico. The report's timeline from 2020 to 2030 provides a comprehensive overview of the market's evolution, capturing the dynamic landscape of global defense capabilities.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Anti-Tank Guided Missile System Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers :
- Modernization of Armed Forces
- Increasing Threat of Armored Warfare
- Geopolitical Tensions and Regional Conflicts
- Focus on Precision and Lethality
- Shift Towards Network-Centric Warfare
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Defense Budget Allocations : Defense budget allocations significantly impact the Global Anti-Tank Guided Missile (ATGM) System Market as governments prioritize modernization and strategic capabilities.Increased defense budgets allow for substantial investments in research, development, and procurement of advanced ATGM systems.Nations allocating substantial funds to their defense sectors can enhance the acquisition of cutting-edge technologies, thereby fostering innovation and maintaining a competitive edge.
Conversely, budgetary constraints may limit the scale and pace of ATGM system development and procurement. The dynamic relationship between defense budgets and the ATGM market underscores the critical importance of financial resources in shaping the capabilities and readiness of armed forces to address evolving security challenges.
Restraints :
- Budgetary Constraints
- Ethical and Humanitarian Concerns:
- Maintenance and Upkeep Costs
- Countermeasures and Defensive Technologies
- Political and Diplomatic Sensitivities
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Integration Challenges : The Global Anti-Tank Guided Missile (ATGM) System Market faces integration challenges stemming from the need to seamlessly incorporate advanced missile technologies into existing military infrastructure.Integrating ATGM systems into diverse platforms, such as ground vehicles, helicopters, and naval vessels, requires careful coordination and compatibility testing. The complexity arises from the diverse specifications and operational requirements of these platforms, demanding adaptable and interoperable ATGM solutions.
Furthermore, ensuring effective communication and coordination between ATGM systems and other battlefield assets remains a challenge, particularly as military forces increasingly embrace network-centric warfare. Cybersecurity integration is also a concern, as ATGMs become more technologically advanced, necessitating robust measures to safeguard against cyber threats. Overcoming these integration challenges is crucial for maximizing the efficiency and effectiveness of ATGM systems in modern military operations.Collaborative efforts between defense contractors, military agencies, and technology experts are essential to address these complexities and enhance the seamless integration of ATGM technologies across diverse platforms.
Oppurtunities :
- Rising Geopolitical Tensions
- Technological Advancements
- Integration with Unmanned Systems
- Upgradation and Retrofitting Programs
- Focus on Lightweight and Man-Portable Systems
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Increased Investment in Research and Development : Increased investment in research and development (R&D) is a driving force in the Global Anti-Tank Guided Missile (ATGM) System Market, shaping the evolution of cutting-edge technologies. As nations strive to maintain military superiority, elevated defense budgets contribute to substantial R&D allocations.These investments empower defense contractors and technology innovators to explore advancements in guidance systems, propulsion technologies, and precision capabilities of ATGMs.
The emphasis on R&D also fosters the creation of next-generation ATGMs with enhanced range, accuracy, and adaptability to address evolving threats on the modern battlefield.Collaboration between governments, defense agencies, and private industry in R&D initiatives propels innovation, ensuring that ATGM systems remain at the forefront of military capabilities. This heightened investment underscores the industry's commitment to staying ahead in the ever-changing landscape of defense technologies, enhancing the strategic and tactical capabilities of armed forces globally.
Competitive Landscape Analysis
Key players in Global Anti-Tank Guided Missile System Market include:
- Lockheed Martin Corporation
- Raytheon Company
- Rafael Advanced Defense Systems Ltd.
- SAAB Group
- MBDA
- KBP Instrument Design Bureau
- General Dynamics Corporation
- Roketsan A.S
- Denel SOC Ltd.
- BAE Systems PLC.
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Mounting
- Market Snapshot, By Operation
- Market Snapshot, By Platform
- Market Snapshot, By Region
- Global Anti-Tank Guided Missile System Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Modernization of Armed Forces
- Increasing Threat of Armored Warfare
- Geopolitical Tensions and Regional Conflicts
- Focus on Precision and Lethality
- Shift Towards Network-Centric Warfare
- Defense Budget Allocations
- Restraints
- Budgetary Constraints
- Ethical and Humanitarian Concerns:
- Maintenance and Upkeep Costs
- Countermeasures and Defensive Technologies
- Political and Diplomatic Sensitivities
- Integration Challenges
- Opportunities
- Rising Geopolitical Tensions
- Technological Advancements
- Integration with Unmanned Systems
- Upgradation and Retrofitting Programs
- Focus on Lightweight and Man-Portable Systems
- Increased Investment in Research and Development
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bragaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Anti-Tank Guided Missile System Market, By Mounting, 2023 - 2033 (USD Million)
- Shoulder
- Tripod
- Vehicle
- Global Anti-Tank Guided Missile System Market, By Operation, 2023 - 2033 (USD Million)
- Manned
- Unmanned
- Global Anti-Tank Guided Missile System Market, By Platform, 2023 - 2033 (USD Million)
- Land
- Airborne
- Global Anti-Tank Guided Missile System Market, By Geography, 2023 - 2033 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Anti-Tank Guided Missile System Market, By Mounting, 2023 - 2033 (USD Million)
- Competitive Landscape
- Company Profiles
- Lockheed Martin Corporation
- Raytheon Company
- Rafael Advanced Defense Systems Ltd.,
- SAAB Group,
- MBDA
- KBP Instrument Design Bureau
- General Dynamics Corporation,
- Roketsan A.S.,
- Denel SOC Ltd.
- BAE Systems PLC
- Company Profiles
- Analyst Views
- Future Outlook of the Market