Global Anti-Tank Missile Market to Reach USD 4,122.53 Million by 2032 | CAGR of 3.8%
Category : Aerospace and Defence | Published Date : Jan 2025 | Type : Press Release
Anti-Tank Missile Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Anti-Tank Missile Market was valued at USD 3,095.74 million in 2024 and is projected to grow at a CAGR of 3.8%, reaching USD 4,122.53 million by 2032. Anti-tank missiles are guided weapons designed to effectively destroy or damage heavily armored military vehicles such as tanks. These systems have revolutionized modern warfare, enabling infantry soldiers to engage armored threats with precision. The market is driven by increasing defense budgets, geopolitical tensions, and technological advancements in missile systems, including long-range capabilities and improved guidance systems.
The report comprises the Anti-Tank Missile Market Share, Size & Industry Analysis, based on Range (Up to 2.5 km, 2.5 km to 5 km, Above 5 km), Portability (Man-Portable, Vehicle-Mounted), Platform (Land-Based, Airborne-Based, Naval-Based), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America), and Forecast, 2025-2032.
The report contains detailed information on Anti-Tank Missile Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Segmental Analysis :
Based on range, the market is segmented into Up to 2.5 km, 2.5 km to 5 km, and Above 5 km.
- The Up to 2.5 km segment held the largest market share in 2024, attributed to its lightweight design, cost-effectiveness, and improved target-tracking capabilities. These missiles are commonly used in direct and top-attack modes, making them suitable for close-range combat scenarios.
- The Above 5 km segment is projected to grow at the fastest rate, driven by rising demand for long-range offensive and defensive operations. Advanced technologies such as laser guiding and high hit probability contribute to its rapid adoption.
Based on portability, the market is bifurcated into Man-Portable and Vehicle-Mounted.
- The Man-Portable segment accounted for the largest share in 2024, owing to its lightweight design, ease of deployment, and ability to operate efficiently during day and night. The use of dual-mode seekers enhances its operational capabilities.
- The Vehicle-Mounted segment is expected to register the highest CAGR, supported by increased adoption in armored vehicles, drones, and helicopters. Its high mobility and ability to operate in complex terrains further boost its demand.
Based on platform, the market is segmented into Land-Based, Airborne-Based, and Naval-Based.
- The Land-Based segment dominated the market in 2024, driven by its ability to eliminate ground-based armored threats such as tanks. Its affordability and user-friendly design make it the preferred choice for various military applications.
- The Airborne-Based segment is anticipated to witness the fastest growth, fueled by the integration of advanced thermal imaging sensors in unmanned aerial vehicles (UAVs) and helicopters, enhancing precision targeting in modern warfare.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific led the market in 2024 with a valuation of USD 893.88 million, driven by rising defense budgets, border conflicts, and geopolitical tensions. The region is expected to grow significantly due to increased investment in advanced missile systems.
- North America is projected to register substantial growth, reaching USD 1,408.67 million by 2032. This growth is attributed to the region's focus on modernizing weapon systems and addressing geopolitical concerns.
| Report Attributes | Report Details |
| Study Timeline | 2019-2032 |
| Market Size in 2032 | USD 4,122.53 Million |
| CAGR (2025-2032) | 3.8% |
| Range | Up to 2.5 km, 2.5 km to 5 km, Above 5 km |
| Portability | Man-Portable, Vehicle-Mounted |
| Platform | Land-Based, Airborne-Based, Naval-Based |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Anti-Tank Missile Industry:
- Lockheed Martin Corporation (U.S.)
- General Dynamics Corporation (U.S.)
- MBDA (France)
- Raytheon Technologies (U.S.)
- Denel Dynamics (South Africa)
- Rafael Advanced Defense Systems (Israel)
- BAE Systems PLC (UK)
- Thales (France)
- Roketsan (Turkey)
- Hanwha Aerospace (South Korea)
- Kongsberg Gruppen (Norway)
Recent Industry Developments :
- September 2024: Kongsberg Defence and Aerospace announced the expansion of its U.S. operations with a new missile production facility to enhance the supply of Naval Strike and Joint Strike Missiles.
- January 2024: Saab and MBDA entered a strategic partnership to develop advanced anti-tank and air defense systems, leveraging their combined expertise.
