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Rockets and Missiles Market by Product (Rockets, Missiles), by Speed (Subsonic, Supersonic, Hypersonic), by Propulsion (Solid, Liquid, Hybrid, Others), by Launch Mode (Surface-to-surface, Surface-to-air, Air-to-air, Air-to-surface, Subsurface-to-surface), by North America (U.S., Canada), by Europe (UK, Germany, France, Italy, Russia, Belgium, Sweden, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Vietnam, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Argentina, Rest of Latin America), by MEA (South Africa, UAE, Saudi Arabia, Iran, Turkey, Rest of MEA) Forecast 2025-2033
The size of the Rockets and Missiles Market was valued at USD 57.8 Billion in 2023 and is projected to reach USD 86.91 Billion by 2032, with an expected CAGR of 6% during the forecast period. The Rockets and Missiles Market involves creating, manufacturing, and utilizing rocket and missile systems for military defense, space exploration, and commercial purposes. This market consists of a variety of systems, ranging from short-range tactical missiles to long-range strategic rockets, including space launch vehicles and their related parts. The market is growing due to the increasing need for high-tech missile defense systems, accurate munitions, and space exploration technologies. Key technologies required are propulsion systems, guidance and control mechanisms, warheads, and launch platforms. The market expansion is being driven by escalating geopolitical tensions, changing defense strategies, and investments in space missions, with governments and defense contractors focusing on advanced innovations in missile and rocket technology. Moreover, the future of this market is expected to be influenced significantly by developments in hypersonic technology, smart missiles, and satellite launch systems. With countries prioritizing national security, space capabilities, and strategic defense strategies, the Rockets and Missiles Market is expected to see substantial growth in the near future.
The market is moderately concentrated, with major players accounting for a significant share. Innovations are concentrated in guidance systems, propulsion, and materials. Regulations on proliferation, export controls, and safety standards impact the market. Product substitutes, such as laser and directed energy weapons, pose potential threats. End-user concentration in military and defense sectors is high, while M&A activity remains moderate.
Hypersonic missile development is a key trend, driven by the need for faster and more agile delivery systems. Advanced guidance systems, such as GPS and inertial navigation, are enhancing accuracy and range. The use of artificial intelligence (AI) is improving missile targeting, threat assessment, and decision-making. The trend toward interoperability and networking of missile systems is also prominent, enabling seamless communication and coordination between different platforms.
North America is expected to dominate the market, driven by the United States' significant military spending and technological leadership. China and India are also key growth markets, owing to their expanding defense budgets and growing regional tensions. In terms of segments, guided rockets and ballistic missiles are anticipated to have the largest market share due to their wide use in military applications.
The report provides comprehensive coverage of the Rockets and Missiles Market, including market size, market share, and growth forecasts. It offers detailed analysis of product segments, regional insights, and key industry trends. The report also includes competitive landscapes, company profiles, and industry analysis.
The market size is projected to reach USD 94.2 billion by 2030, driven by rising defense spending and technological advancements. The market is characterized by intense competition among major players, with Boeing, Lockheed Martin, and Northrop Grumman holding significant market shares.
Product
Speed
Propulsion:
Launch Mode:
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 6% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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