Man Portable Anti-Tank Guided Missile System Market Outlook – 2027
The global man portable anti-tank missile system market is experiencing a significant growth due to surge in defense expenditure globally. Anti-tank missile system is a missile system used to destroy tank or armored vehicles. Man portable anti-tank missile system enables infantry in a battlefield to destroy armored vehicles from a greater distance using guidance system such as laser, radar, and electro-optical imager seeker. Tanks and other armored vehicles are used in close ground warfare and pose a significant threat to ground infantry and war establishments such as bunker, communication towers, ammunition depot among others. Anti-tank missile system neutralizes an armored vehicle by penetrating thick armor & destroying it.
COVID-19 scenario analysis:
Anti-tank missile system manufacturers are forced to halt their production operations due to supply chain disruption caused by the government- imposed lockdown to slow the spread of COVID-19.
Military agencies are also forced to delay their anti-tank missile system procurement plans.
Defense contractors are suffering financial losses due to inventory holding cost of unfinished anti-tank missile system owing to the lack of workforce & raw materials.
Anti-tank missile system development & trail process is heavily impacted due to travel ban imposed by authorities to control the COVID-19 outbreak, restricting travel of employees to the workplace.
Governments have diverted all financial resources to combat the COVID-19 pandemic; hence, all transfer and sales of anti-tank missile system will be put on hold until the situation normalizes.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Surge in military expenditure, increase in demand for composite armor penetration capability, and rise in adoption of long-range anti-tank missile system are the factors that drive the global man portable anti-tank missile system market. However, development of anti-tank missile countermeasures such as active protection system and electronic jammers hinder the market growth. On the contrary, the demand for precision targeting and fire & forget capabilities present new pathways in the industry.
The global man portable anti-tank missile system market trends are as follows:
Surge in military expenditure
Military agencies are investing in advanced weapons systems to establish dominance in the battlefield. For instance, in February 2020, US Department of Defense awarded a contract of approx. 18 million USD to Raytheon (a major US defense contractor headquartered in Massachusetts, US) & Lockheed Martin Corporation (an aerospace & defense company headquartered in Maryland, US) for production of Javelin anti-tank missile systems for military sales to partner countries such as Ukraine, Turkey, and Australia among others. Also, in 2020, Lockheed Martin Corporation and Raytheon Company was awarded a contract to build Javelin anti-tank missiles for the US Army, US Marine Corps, and US Navy under terms of a 121.8 million USD order. The Javelin anti-armor weapon is an infantry fire-and-forget missile guided with electro-optics system with lock-on before launch and automatic self-guidance designed to destroy main battle tanks, armored personnel carriers, and other armored combat vehicles. Such surge in military expenditure is expected to drive the global man portable anti-tank missile system market.
Key benefits of the report:
- This study presents the analytical depiction of the global man portable anti-tank missile system industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global man portable anti-tank missile system market share.
- The current market is quantitatively analyzed to highlight the global man portable anti-tank missile system market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global man portable anti-tank missile system market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the man portable anti-tank missile system market research report:
- Which are the leading market players active in the man portable anti-tank missile system market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Man Portable Anti-Tank Guided Missile System Market Report Highlights
| Aspects | Details |
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 Key Market Players | Lockheed Martin Corporation, KBP Instrument Design Bureau, Rafael Advanced Defense Systems, ROKETSAN A.S., Saab AB, MBDA, Elbit Systems Ltd., General Dynamics Corporation, Denel Dynamics, Raytheon Company |
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