Following the news that Israeli firm Rafael Advanced Defense Systems has unveiled its new Aerospike next generation air-to-surface missile (ASM) at the Special Operations Forces Industry Conference (SOFIC) 2022;

Tristan Sauer, Land Analyst at GlobalData, a leading data and analytics company, offers his view:

“As the latest product in the Spike missile family, the Aerospike Stand-Off Precision Guided Munition (SOPGM) incorporates key components from existing systems such as the Spike-LR II’s advanced EO/IR targeting sensors and real-time RF datalink to further enhance the system’s precision and lethality. These capabilities will greatly benefit special operations forces requiring close-air support in highly dynamic environments, as the system’s inherent flexibility allows it to be employed against infantry units, armored vehicles and entrenched positions whilst minimizing the ever-present risk of collateral-damage.

“The market for precision-guided missile (PGM) systems will likely see significant investment and growth in the coming years as military procurement officials continue to seek a better cost-risk balance. As illustrated by the ongoing conflict in Ukraine, the proliferation of MANPADS in high-intensity conflicts has exponentially increased the risk to airborne support assets. Systems such as Rafael’s Aerospike address this challenge by increasing the standoff range of aerial platforms without significantly sacrificing their precision-strike capabilities, thus rendering them and their allies even more effective in an armed engagement.

“The global missiles and missile defense systems (MMDS) market was valued at *$37 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 3.51% to reach a total estimated value of $52.3 billion by 2031, according to GlobalData. The missiles market will account for an average of 56% of total market value between 2021–31, mirroring the wider market to grow at a CAGR of 3.7% from a total value of $20.6 billion in 2021 to $29.6 billion by 2023. Although the Asia-Pacific region dominates the market with a share of 29%, demand in North America for specialized missiles such as the Aerospike will continue to drive market growth over the next decade, and innovative firms such as Rafael are spearheading that trend.”

*Data taken from GlobalData’s report: Missiles and Missile Defense Systems Market Size and Trend Analysis by Segments, Key Programs, Competitive Landscape and Forecast, 2021-2031