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Global Sea Skimmer Missile Market to reach USD xxxx billion by the end of 2029.

Global Sea Skimmer Missile Market Size study & Forecast, by Type (Surface-to-Surface Missiles, Air-to-Surface Missiles), By Application (Defense, Homeland Security) and Regional Analysis, 2022-2029

Product Code: SSAD-14748517
Publish Date: 24-04-2023
Page: 200

Global Sea Skimmer Missile Market is valued at approximately USD xxxx billion in 2021 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2022-2029. Sea skimmers missiles are included in systems with the objective of avoiding radiation-based identification. Anti-ship missiles employ the method of sea skimming to escape radar or infrared detection during an attack. The Sea Skimmer Missile market is expanding because of factors such as increasing deployment of naval based combat systems and growing defense spending.

The Ocean Skimmer missile’s low flying capabilities for keeping a safe distance from radar detection may encourage several countries to purchase them. Its prevalence has progressively increased during the last few decades. According to Statista, the value of naval electronic warfare market worldwide was estimated at USD 5.17 billion in 2020. According to forecasts, the market value will increase in the next years and reach USD 6.86 billion in 2027. Furthermore, In the fiscal year of 2023, the United States Navy had 49 Nuclear Attack Submarines and 11 aircraft carriers at their disposal. In total, the U.S. Navy had 285 battle force ships at their disposal in that fiscal year. Another important component driving space increase in defense spending. The United States led the ranking of countries with the highest military spending in 2021, with 801 billion U.S. dollars dedicated to the military. That constituted 38% of the total military spending worldwide that year, which amounted to 2.1 trillion U.S. dollars. As of 2019, the United States military expenditure amounted to 3.4% of the U.S. gross domestic product. In addition, in 2022, among the countries of Asia-Pacific, China had the highest number of naval ships, amounting to 777. However, the high cost of Sea Skimmer Missiles stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Sea Skimmer Missile Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, due to developing and improving naval combat systems, owing to the growing maritime tensions. According to Statista, as of 2019, the United States military expenditure amounted to 3.4% of the U.S. gross domestic product. Furthermore, Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising cross-border tension among India and Pakistan along with China and Taiwan in the market space.

Major market players included in this report are:

Israel Aerospace Industries Ltd.
Kongsberg Gruppen AS
BrahMos Aerospace
Northrop Grumman Corporation
The Boeing Company
MBDA systems
Defence Research and Development Organisation
Orbital ATK Inc.
Saab AB
Raytheon Company

Recent Developments in the Market:
Ø In May 2022, Raytheon Missiles & Defense gets contracts worth more than $400 million with industry partners, including contracts to replace Javelin anti-tank missiles to help Ukraine repel Russia. The Tucson-based Javelin Joint Venture, comprised of Raytheon and Lockheed Martin, recently awarded two Army contracts worth a total of $309 million to produce Javelin missiles and launchers.

Global Sea Skimmer Missile Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Application, Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type
Surface-to-Surface Missiles
Air-to-Surface Missiles

By Application
Homeland Security

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Sea Skimmer Missile Market, by Region, 2019-2029 (USD Billion)
1.2.2. Sea Skimmer Missile Market, by Type, 2019-2029 (USD Billion)
1.2.3. Sea Skimmer Missile Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Sea Skimmer Missile Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Sea Skimmer Missile Market Dynamics
3.1. Sea Skimmer Missile Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing deployment of naval based combat systems Growing defense spending
3.1.2. Market Challenges High Cost of Sea Skimmer Missile
3.1.3. Market Opportunities Rising adoption of artificial intelligence
Chapter 4. Global Sea Skimmer Missile Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Sea Skimmer Missile Market, by Type
6.1. Market Snapshot
6.2. Global Sea Skimmer Missile Market by Type, Performance – Potential Analysis
6.3. Global Sea Skimmer Missile Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Sea Skimmer Missile Market, Sub Segment Analysis
6.4.1. Surface-to-Surface Missiles
6.4.2. Air-to-Surface Missiles

Chapter 7. Global Sea Skimmer Missile Market, by Application
7.1. Market Snapshot
7.2. Global Sea Skimmer Missile Market by Application, Performance – Potential Analysis
7.3. Global Sea Skimmer Missile Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
7.4. Sea Skimmer Missile Market, Sub Segment Analysis
7.4.1. Defense
7.4.2. Homeland Security
Chapter 8. Global Sea Skimmer Missile Market, Regional Analysis
8.1. Sea Skimmer Missile Market, Regional Market Snapshot
8.2. North America Sea Skimmer Missile Market
8.2.1. U.S. Sea Skimmer Missile Market Type breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Sea Skimmer Missile Market
8.3. Europe Sea Skimmer Missile Market Snapshot
8.3.1. U.K. Sea Skimmer Missile Market
8.3.2. Germany Sea Skimmer Missile Market
8.3.3. France Sea Skimmer Missile Market
8.3.4. Spain Sea Skimmer Missile Market
8.3.5. Italy Sea Skimmer Missile Market
8.3.6. Rest of Europe Sea Skimmer Missile Market
8.4. Asia-Pacific Sea Skimmer Missile Market Snapshot
8.4.1. China Sea Skimmer Missile Market
8.4.2. India Sea Skimmer Missile Market
8.4.3. Japan Sea Skimmer Missile Market
8.4.4. Australia Sea Skimmer Missile Market
8.4.5. South Korea Sea Skimmer Missile Market
8.4.6. Rest of Asia Pacific Sea Skimmer Missile Market
8.5. Latin America Sea Skimmer Missile Market Snapshot
8.5.1. Brazil Sea Skimmer Missile Market
8.5.2. Mexico Sea Skimmer Missile Market
8.5.3. Rest of Latin America Sea Skimmer Missile Market
8.6. Rest of The World Sea Skimmer Missile Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Israel Aerospace Industries Ltd Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Kongsberg Gruppen AS
9.2.3. BrahMos Aerospace
9.2.4. Northrop Grumman Corporation
9.2.5. The Boeing Company
9.2.6. MBDA systems
9.2.7. Defence Research and Development Organisation
9.2.8. Orbital ATK Inc.
9.2.9. Saab AB
9.2.10. Raytheon Company

Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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