According to the research report titled ‘Global Naval Missiles and Missile Launch Systems Market size study by System (Missile, and Launch Systems), Application (Surface Vessel, and Submarine), Regional Forecasts 2021-2027”, available with MarketStudyReport, global naval missiles and missile launch systems market size is anticipated to widen at a strong y-o-y growth rate during the forecast timeframe 2021-2027.
 

Heightened investments in acquisition and deployment of navy vessels due to increasing maritime tension in Mediterranean Sea and South China Sea serve as a major growth propeller for global naval missiles and missile launch systems market. Moreover, modernization of existing naval fleet with newer-generation warships and missiles, and increasing defense budget are enhancing the industry growth.
 

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Besides, partnerships between government agencies are likely to infuse strong growth in the market. For instance, Indian Navy, in Dec 2020, announced that it will procure 38 BrahMos supersonic cruise missiles with long-range, created by a joint venture between Defense Research and Development Organization (DRDO) and Russia’s NPO Mashinostroyeniya to boost armament.
 

Speaking of market restraints, high cost of new technologies and production delays may hinder remuneration potential over the analysis time period, claims the report.
 

From the regional point of view, missiles and missile launch systems market in North America is expanding majorly due to fleet expansion plan of United States Navy with acquisition and deployment of naval vessels. Further, US Department of Defense (DoD) is now investing in modernization of naval fleet for Navy and Marine Corps in response to increasing threats from China and Russia, resulting in rising demand for missile systems in the region.
 

The report includes both qualitative and quantitative characteristics of the market in each of the study's regions and countries. Apart from this, the document entails a granular assessment of the other sub-markets with respect to system, and application for a holistic understanding of this business sphere.  
 

Considering the competitive landscape, Israel Aerospace Industries Ltd., Rokestan A.S., Raytheon Technologies Corporation, MBDA Inc., Defense Research and Development Organization (DRDO), Lockheed Martin Corporation, Elbit Systems Ltd., BAE Systems plc, Kongsberg Gruppen ASA, and Rafael Advanced Defense Systems Ltd. are the major companies influencing global missiles and missile launch systems market trends.