Global Intercontinental Ballistic Missile Market 2016-2020

Overview of the global intercontinental ballistic missile (ICBM) market

Intercontinental ballistic missiles (ICBMs) are guided ballistic missiles that have a greater range and speed than other ballistic missiles.  ICBMs are major nuclear deterrents, and only a few nations possess the required technology to launch such long-range weaponry. However, the increasing GDP and subsequent growth in defense expenditure across the globe is expected to pull more investments toward the development and procurement of ICBM in the coming years. Moreover, a rise in border threats and national security concerns will also drive the demand for ICBM systems during the forecast period. Technavio’s market research analyst predicts that the global ICBM market will grow at a CAGR of around 6% by 2020.

Recently, Chemring Defence, a prominent vendor of the market, has entered into a strategic alliance with the Ministry of Defense (MOD) to develop a multiple-effect rocket system (MERS) that can fire missiles without emitting any smoke. The advanced missile system does not allow the detection of the origin of missiles, and hence reduces the risks of enemy attacks. Growing prominence of smokeless missiles will boost growth prospects for the ICBM market in the coming years.

Segmentation by type and analysis of the ICBM market

• Land-based ICBM
• Submarine-based ICBM