MANNED ANTI-TANK GUIDED MISSILE SYSTEM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Manned Anti-Tank Guided Missile System Market Size and Trends

The Global Manned Anti-Tank Guided Missile System Market is estimated to be valued at USD 352.7 Mn in 2024 and is expected to reach USD 475.3 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031.

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The manned anti-tank guided missile system market is expected witness substantial growth over the forecast period. Key factors such as increasing defense budgets and rising threats from militant and extremist groups are expected to drive demand. Additionally, technological advancements including improved targeting systems and miniaturization are anticipated to boost adoption. However, high costs associated may limit market expansion to some extent. Nonetheless, growing conflicts worldwide are likely to continue creating opportunities for manned anti-tank guided missile manufacturers in the coming years.

Increasing geopolitical tensions and conflicts

As geopolitical tensions continue to rise around the world, the need for effective manned anti-tank guided missile (ATGM) systems is growing. Various territorial disputes and conflicts over borders have heightened threats of military confrontation in several regions. With advancing militarization by adversaries, countries feel compelled to bolster their defenses against armored assaults.

Manned ATGMs allow soldiers to precisely engage enemy tanks from concealed positions at ranges beyond most other portable anti-armor weapons. Their advanced fire-and-forget capabilities combined with top-attack munitions offer a potent solution against even the most modern battle tanks. As border tensions escalate into occasional skirmishes involving armored vehicles, the strategic value of these systems rises substantially. Their deployment acts as a deterrent in disputes and provides key support in repelling hostile mechanized thrusts if conflict does break out.

While open conflict is still avoided, the risks appear high enough to drive investments in advanced ATGMs. Their long-range precision hits against moving targets allow engaging enemy formations from stand-off distances with tactical surprise. This strengthens defensive postures amid threats and doubts over diplomatic de-escalation.

For instance, in March 2021, the Indian Army signed a contract worth US$ 14.15 Mn with Bharat Dynamics Limited (BDL), a state-owned defense manufacturer under the Ministry of Defence, for the supply of 4,960 anti-tank guided missiles. The deal will equip the Army with Milan-2T missiles, a tandem warhead ATGM with a range of 1,850 meters, capable of being fired from both ground and vehicle-mounted launchers. This acquisition will significantly enhance the Army's anti-tank firepower and defensive capabilities.

Growing Demand for Advanced and High-Performance Manned ATGM Systems

End Users in the defense sector regularly evaluate their weapons stockpiles for upgrades that deliver tactical advantages against evolving threats. Manned ATGMs have emerged as a system of choice due to their unparalleled tank-killing performance backed by autonomous and lock-on fire modes. However, earlier manned launchers and missiles lacked the technical sophistication demanded in current battlefields characterized by integrated sensors, networked communications and automated targeting solutions.

This has spurred extensive research into new manned ATGM configurations with augmented targeting systems, multi-role capabilities, extended ranges and all-weather operability. Modern digitized technologies assist soldiers in acquiring targets day or night through thermal sights, automatically correcting aim points based on real-time data links. Multi-warhead missiles dramatically increase the odds of detonating within explosive reactive armor suites which have reduced single-warhead ATGM effectiveness. Top-attack trajectories make tanks vulnerable from their thinnest top armor using tandem-charge warheads.

Special forces have also recognized the untapped potential of manned ATGMs for precise ambushes and counterattacks behind enemy lines. Lighter portable missiles launched from concealed firing positions can significantly boost infantry firepower on strategic raids. Their large destructive potential in a compact package gives isolated troops and armor-killing option during infiltration missions. This has spurred research at defense agencies towards specialized man-packable ATGM variants with advanced optical triangulation for covert engagements.

The demand hence stems from pressing military needs across multiple environments and operational scenarios. End-users want solutions capable of combining tactical agility with overwhelming terminal effects on any known or future tank variants. This drive continued product evolution in warhead designs, multi-spectral seekers, active protection countermeasures and modular launch platforms optimized for various mission profiles.