Nuclear Bombs and Missiles Market is Estimated to Reach $126.34 Billion by 2027

iCrowd Newswire
12 May 2022, 19:48 GMT+10

According to a new report published by Allied Market Research, titled, "Nuclear Bombs and Missiles Market," The nuclear bombs and missiles market was valued at $72.64 billion in 2020, and is estimated to reach $126.34 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030.

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Asia-Pacific dominates the market in terms of growth, followed by Europe, North America and LAMEA. U.S. dominated the global nuclear bombs and missiles market share in 2020, whereas China is expected to witness growth at a significant rate in the market during the forecast period.

The nuclear bombs and missiles industry holds great potential in the near future to change the scenario of global dominance and cross-border conflicts. Though nuclear weapons are not considered as a primary line of defense and first reaction weapons, they hold utmost importance during political conflicts and negotiations. Nations having nuclear capacities are releasing policies, allowing them to use nuclear weapons as they feel the need in case of disputes. Such establishments will give notable growth to the nuclear bombs and missiles market.

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In addition, the nuclear bombs and missiles market is highly regulated by investment offered by government bodies, research organizations, corporate conglomerates, and think tanks. Think tanks are research and analytical bodies that demonstrate future needs and reasons to have nuclear arsenals. These think tanks often receive funding from several sources to continue their research work. The advisory boards of these think tanks often constitute former CXOs and top management members of companies manufacturing nuclear weapons. Twelve think tanks across the globe have disclosed funding of $5.5 million to $10.2 million in 2020 from corporate giants who are manufacturing nuclear weapons.

By type, the market is categorized into aircraft bomber and land-based missiles, intercontinental ballistic missile (ICBM), submarine-launched ballistic missile (SLBM), and others. The others segment includes all nuclear bombs and missiles that are retired or awaiting disarmament. The SLBM segment garnered the highest market share in 2020 and is projected to lead the market within the forecast timeframe. By range, the nuclear bombs and missiles market is categorized as less than 1,000km, 1,000Km to 5,000km, and greater than 5,000km. The North American and European region will have a higher market share within the 1,000km to 5,000km and greater than 5,000km range, whereas the Asia-Pacific will have a higher market share within the less than 1,000km range. The status segment accounted for active and retired/passive. The active segment is expected to dominate the market in terms of value whereas the retired/passive segment will exhibit an elevated growth rate within the forecast timeframe.

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Factors such as the rise in geopolitical conflicts and increase in defense budget allocation toward nuclear expenditure, are expected to support the nuclear bombs and missiles market growth. For instance, the U.S. allocated 5.7% of the total defense budget toward nuclear weapon spending in 2021, which is expected to rise to 8.0% of the total defense spending in 2030. The nuclear arms acquisition race by superpowers such as the U.S. and Russia to accelerate business opportunism within the coming years. In 2021, the U.S. and Russia had 5,550 and 6,255 nuclear warheads and are expected to reach 6,380 and 6,734 by 2030 respectively. The expenditure by major companies such as Lockheed Martin, BAE Systems, Airbus, and Boeing, toward research, development, management, conducting exhibitions and seminars to conduct importance and feasibility of nuclear weapons will encourage nations to increase their budget allocation. In 2021, the lobbyists engaged in conducting seminars, exhibitions, and business meetings along with think tanks responsible for future planning and management received around $120 million from corporate bodies and defense organizations, supporting business potential over the coming years.

KEY FINDINGS OF THE STUDY

By type, the submarine-launched ballistic missile (SLBM) segment leads the market during the forecast period.By range, the greater than 5,000km segment leads the market during the forecast period.By status, the active segment is expected to grow at a lucrative growth rate during the forecast period (2021-2030).Asia Pacific is anticipated to exhibit the highest CAGR during the forecast period.

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The key players operating in the nuclear bombs and missiles market are Airbus, Ariane group Sas, Bae Systems, Brahmos Aerospace, Lockheed Martin Corporation, Mbda, Northrop Grumman Corporation, Rafael Advanced Defense Systems Ltd, Raytheon Technologies Corporation, and The Boeing Company.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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