The guided missile and space vehicle manufacturing industry is becoming increasingly dynamic and innovative, with more number of private players entering the industry. Commercialization of space vehicles and guided missiles manufacturing is a growing trend within the industry. There was a time when government space agencies alone were driving the world’s dream of exploring outer space. But that has changed over the past few years. A number of private space companies have entered the market with ambitious plans to build rockets and colonize new planets – SpaceX, Virgin Galactic, Blue Origin being the most well-known names.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL GUIDED MISSILE AND SPACE VEHICLE MARKET AT $331 BILLION IN 2017
Asia Pacific was the largest geographic region in the market, accounting for over 38% of the global market share. China was the largest country in the market, accounting for one-fifth market share.
According to The Business Research Company’s Consultant, Nitin Gianchandani, digital technologies such as blockchain are being adopted by space vehicle manufacturing companies to monitor performance of vehicle components and systems as the process is highly specialized and complex. Block chain is a data structure used to establish a digital archive or record blocks of data which can be accessed across a network of computers.
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Lockheed Martin Corporation was the biggest player in the guided missile and space vehicle market in 2016. Its strategy is to expand its core business into the growing areas of helicopter production and sustainment. In November 2015, Lockheed Martin acquired Sikorsky Aircraft for $9 billion.
The guided missile and space vehicle manufacturing industry comprise establishments primarily engaged in manufacturing complete guided missiles and space vehicles and/or developing and making prototypes of guided missiles or space vehicles.
Guided Missile and Space Vehicle Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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