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Global Missiles and Missile Defense Systems Market Report 2023: Sector to Reach $40 Billion by 2028 at a 7% CAGR

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Dublin, Jan. 05, 2023 (GLOBE NEWSWIRE) — The “Global Missiles and Missile Defense Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Range, Missile Type, Missile Defense system and Region” report has been added to ResearchAndMarkets.com’s offering.

According to this analysis, the Global Missiles and Missile Defense Systems Market was valued at ~US$ 20 billion in 2017. The market for Missiles and Missile Defense Systems will be driven by government spending on missiles and missile defense systems across national land and water borders is being driven by rising military budgets in response to rising geopolitical tensions among various countries and fears about terrorism..

It is estimated to be ~US$ 26 billion in 2022 and is expected to reach a market size of ~US$ 40 billion by 2028 growing at a CAGR of ~7% during 2022-2028.

Stand-off weaponry, bombers, helicopters, unmanned aerial vehicles (UAVs), and combat aircraft are all attacked with missile defense systems. Systems for missile defense are made to deal with aerial threats over a variety of lengths, from short to extend to long. Additionally, countries are raising their military budgets in response to escalating geopolitical tensions and worries about terrorism, which is driving up spending on missile defense systems along land and marine borders. This is expected to be the main factor driving the market’s expansion over the forecast timeframe.

Governments are boosting their military spending as a result of escalating geopolitical tensions and worries about terrorism, which is leading to significant investments in missile defense systems (and accompanying missiles) across its land and water borders.

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Government agencies and the private sector are collaborating to develop hypersonic missiles and missile defense systems that are technologically cutting edge. The application of artificial intelligence to missile systems is anticipated to hasten the market’s future growth.

The rising expenses of creating missile defense systems and worldwide ambitions to transport such systems and weapons across other nations are the two most important variables that could restrain the market’s expansion.

Key Trends by Market Segment

By Range – The Short (Up to 1,000 kms) segment dominated the market in 2021. It is employed in regional conflicts in the past and in the future because of the close proximity of some nations, as well as its affordability and simplicity of configuration.

  • The need for short-range missiles to protect against close, short-range threats from adversary attacks has been fueled by military conflicts involving numerous nations
  • In January 2022, the Indian navy, in partnership with the DRDO, successfully tested the Vertical Launch Short Range Surface to Air Missile (VL-SRSAM), which will be outfitted with Indian naval warships

By Missile Type – The Anti-aircraft Missiles segment is expected to be the fastest growing market during the forecast period owing to the adoption of the anti-aircraft missile by various countries worldwide.

  • Anti-aircraft missiles are guided weapons intended to harm or kill airplanes and include surface-to-air missiles, air-to-air missiles, and subsurface-to-air missiles
  • In June 2022, Germany promised to provide Ukraine with cutting-edge anti-aircraft systems

By Missile Defence system – The Surface-To-Surface Missiles segment accounted for the highest market share in 2021 in the global missile and missile defense system market.

  • The growth is primarily due to Surface-to-air missiles (SAMs) of any type can be launched from the ground using missile launchers to combat incoming enemy missiles
  • In December 22, 2021, the Defence Research and Development Organization (DRDO), India successfully carried out the first flight test of the home-grown surface-to-surface missile ‘Pralay’ from Dr. A P J Abdul Kalam Island off the coast of Odisha, India

By Geography: North America accounted for the largest market share among all regions in 2021 owing to the rise in investments for defense and military systems in USA

According to the U.S. Missile Defense Agency (MDA), in November 2020 a Standard Missile 3 (SM-3) Block IIA interceptor successfully destroyed an intercontinental-range ballistic missile (ICBM) target in a test for the first time. The SM-3 Block IIA is now the second American interceptor type to demonstrate this capability, a significant accomplishment. The effects for future weapons control and geopolitical stability are grave.

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Key Topics Covered in the Report

  • Snapshot of Missiles and Missile Defense Systems Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Missiles and Missile Defense Systems Market
  • Historic Growth of the Overall Missiles and Missile Defense Systems Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of the Missiles and Missile Defense Systems Market Industry
  • Overview, Disorder Offerings, and Strengths & Weaknesses of Key Competitors
  • COVID-19 Impact on the Overall Missiles and Missile Defense Systems Market
  • Future Market Forecast and Growth Rates of the Total Missiles and Missile Defense Systems Market and by Segments
  • Market Size of Segments with Historical CAGR and Future Forecasts
  • Analysis of the Missiles and Missile Defense Systems Market in Global Regions
  • Major Missiles and Missile Defense Systems Type/Supply and Consumption/Demand Hubs in the Region
  • Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within the Region

Notable Key Players Mentioned in the Report

  • MBDA Inc
  • BAE Systems
  • Boeing
  • General Electric
  • Lockheed Martin Corporation
  • Northrop Grumman
  • Kongsberg
  • Bharat Dynamics Limited
  • L3Harris Technologies, Inc
  • Israel Aerospace Industries Ltd
  • lvlAlpha
  • ESSI Security and Defence
  • TechEagle Innovations
  • Chara Technologies
  • Evigway Technologies

For more information about this report visit https://www.researchandmarkets.com/r/2q73v3

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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Artificial Intelligence

ZTE highlights building solid foundations with full-stack intelligent computing solution at MWC Shanghai 2024

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SHANGHAI, June 26, 2024 /PRNewswire/ — ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of integrated information and communication technology solutions, will present innovative solutions and success cases in connectivity, computing power, industrial digitalization, and terminal devices at MWC Shanghai 2024, committed to building solid foundations with its full-stack and full-scenario intelligent computing solution.

In addition to exhibitions, ZTE will participate in various forums, sharing insights on trending topics, including AI, 5G, digitalization, etc. Meanwhile, the company will be hosting a series of launch events, showcasing its AI-powered eyewear-free 3D products and the Nebula Telecom Large Model.
Adhering to its “connectivity + computing” strategy, ZTE aims to create a dynamic ecosystem with industry partners, emphasizing openness and decoupling. Through continuous innovation, ZTE seeks to unfold an intelligent future.
Computing Power: Full-Stack Intelligent Computing as Efficient Foundation
ZTE provides a full-stack and full-scenario intelligent computing solution involving computing power, networks, capabilities, intelligence, and applications. With a full series of servers, high-performance storage products, lossless networks, and green data centers, ZTE has created a robust engine for diverse intelligent computing centers.
Connectivity: A New Era of 10Gbps Experience
Together with industry partners, ZTE continues to explore innovations in 5G-A technologies across different scenarios and industries, and empowers diversified new B2B and B2C services based on 10Gbps+ experience. Meanwhile, ZTE is also leading in global OTN technologies, and actively driving the evolution of all-optical connectivity, building 10Gbps networks for cities, and empowering smart life based on intelligent computing.
Industry: Phygital Convergence for Innovative Development
ZTE proposes the solution of “intelligent computing infrastructure + Digital Nebula,” facilitating phygital innovation and boost productivity in the intelligent era. ZTE has developed hundreds of exemplary projects in key sectors and ZTE Digital Nebula 3.0 has become the “super brain” of industrial digitalization, enabling customers and industry partners to foster a sustainable and intelligent ecosystem.
ZTE Mobile Devices: AI Full-Scenario Intelligent Ecosystem 3.0
With “AI for All” product strategy, ZTE has launched a full range of AI devices, including smartphones, tablets, laptops, PCs, and mobile internet products, dedicated to building AI Full-Scenario Intelligent Ecosystem 3.0. Emerging as a pioneer in cloud PCs, ZTE possesses a global user base of over 3 million.
For more information about ZTE’s highlights at MWC Shanghai 2024, please visit: https://www.zte.com.cn/global/about/news/zte-highlights-building-solid-foundations-with-full-stack-intelligent-computing-solution-at-mwc-shanghai-2024.html
MEDIA INQUIRIES:
Email: [email protected]

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Artificial Intelligence

Comviva named a Visionary in the 2024 Gartner® Magic Quadrant™ for AI in CSP Customer and Business Operations Report

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NEW DELHI, June 26, 2024 /PRNewswire/ — Comviva, the global leader in customer experience and data monetization solutions, today announced that it has been named a Visionary in the 2024 Gartner Magic Quadrant for AI in CSPs Customer and Business Operations report.

Gartner defines the market of AI in communications service provider (CSP) customer and business operations as commercial off-the-shelf (COTS) products. They are either capabilities embedded in CSP-specific operational technology (OT) applications (such as channels, CRM and other business support system [BSS] applications) or industry-agnostic horizontal applications delivering AI/machine learning (ML)-based customer and business operations to CSPs. CSP customer and business operations refer to marketing, sales, customer acquisition, customer journey, billing and revenue management, revenue assurance, and related risk management. The scope of AI products covers data readiness, life cycle management of algorithms and their application to CSP customer and business operations.
Comviva’s vision is to revolutionize the telecommunications industry by harnessing the transformative power of AI and Generative AI. With AI use cases across its MobiLytix™ and BlueMarble solutions, Comviva is enabling businesses to create, manage, and deliver real-time personalization, contextualized customer experiences, and intelligence-driven commerce at scale. Comviva has been noted for its strength in content creation, natural language generation, decision intelligence and machine learning.
“To thrive in today’s digital economy, businesses must accelerate the adoption of AI and related digital technologies. Comviva’s greatest strength has been our intelligent platforms that deliver personalized experiences and engagement across the customer journey,” said Rajesh Chandiramani, CEO at Comviva. “We are excited by this recognition as we believe that this affirms our strategic direction and leadership in revolutionizing telecommunications with AI. Comviva’s strong position in the quadrant validates our commitment and progress toward leveraging next-gen technologies in our solutions to deliver exceptional customer experiences.”
Comviva integrates state-of-the-art AI technologies across its comprehensive product portfolio, driving innovation, enhancing customer experiences, and optimizing business operations for Communications Service Providers (CSPs) around the world.
Source: Gartner Magic Quadrant for AI in CSP Customer and Business Operations, by Pulkit Pandey, Amresh Nandan, Peter Liu, 4 June 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
Contact
Sundeep Mehta, +91()9910030732, [email protected] 
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Artificial Intelligence

Jacobi releases Model Portfolio Tech to help investment firms capitalise on booming opportunity

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The search for technology to support model portfolio management and portfolio construction services is increasing as companies look to centralise and scale their model portfolio management and compete in a rapidly growing market.
LONDON, June 26, 2024 /PRNewswire/ — The utilisation of model portfolios among financial advisers has emerged as a transformative force, with staggering growth in model portfolios projected to continue over the next decade. And with good reason, they offer an efficient method for diversification, risk management, and portfolio construction, with personalisation features to match the unique financial goals and risk tolerances of clients.

Financial advisers are also increasingly turning to asset managers for assistance in managing the model portfolios they build and maintain for clients. Jacobi’s model management technology enables asset managers to scale the portfolio construction services they offer financial professionals. The technology enables a platform that can centralise performance and risk analytics, integrate investment workflows, and produce professional reports to share with clients.
An early adopter of Jacobi’s model technology, leading asset manager T. Rowe Price has seen improved process efficiencies and enhanced engagement with clients.
Chris Augelli, Head of Advisor Engagement & Portfolio Construction Solutions at T. Rowe Price, says:
“Jacobi’s technology has enabled us to work faster and handle the increasing demand for our portfolio construction services. Having the team on one common platform through Jacobi has facilitated collaboration in real-time, which has supported our effectiveness in meeting clients’ needs.”
Tanya Bartolini, Chief Revenue Officer at Jacobi, says:
“Our technology helps us partner with asset managers such as T.Rowe Price to scale and connect workflows, driving enormous efficiencies – and ultimately increasing their market distribution.”
About Jacobi
Jacobi Inc. is a global investment technology provider that streamlines multi-asset investment processes and enables portfolio design, analysis, and client engagement. Its unique “open architecture” platform allows users to tailor the platform by integrating their own code, models, data, analytics, and applications.
Founded in 2014, Jacobi provides its technology to top-tier investors across the globe, including some of the world’s leading asset and wealth managers, pension funds, asset owners, and investment consultants. 
About T.Rowe Price 
Founded in 1937, T. Rowe Price helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investments. T. Rowe Price manages $1.54 trillion in client assets as of May 31, 2024, and it serves millions of clients globally.
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