The global shoulder fired anti-tank, anti-aircraft and RPG market for man-portable anti-armor weapons is expected to be $3.2 billion in 2014 and the market will produce around $1.9 million weapons by the end of 2020. The current CAGR is 6.03%.
The shoulder fired missile market in the U.S. is expected to grow from $1,185.60 million in 2014 to $1237.01 million in 2020 at an estimated CAGR of 1%. The flat growth in the U.S. market is due to the end of the wars in Afghanistan and Iraq. The market is expected to continue remain flat throughout the study period, as the possibility of another war in the Middle East is highly unlikely.
India is expected to grow its shoulder fired anti-tank market from $172.80 million in 2014 to $302.80 million in 2020 at an estimated CAGR of 10%. The Indian market will be driven by India’s military modernization program to two threats: China and Pakistan. The military modernization program gives priority to procurement of shoulder fired anti tank missile (ATM) such as Javelin ATM and this emphasizes the growth potential of the market.
New growth regions like Brazil, China etc. are expected to increase growth in this particular market.