The report on the global rockets and missiles market provides qualitative and quantitative analysis for the period from 2021-2030. The revenue generated by the market was USD 55.70 billion in 2022 and is expected reach 81.34 billion in 2030, with a CAGR of 4.28% till 2030 during the projected period 2023-2030. The study on rockets and missiles market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.
The term "Rockets and Missiles Market" refers to the global sector of the economy devoted to the study, creation, manufacture, and sale of rockets and missiles. Projectile weapons such as rockets and missiles are launched into the air to strike selected targets. They are employed for a variety of things, such as commercial applications, offensive operations, military defense, and space exploration. The market includes many different types of rocket and missile systems, such as surface-to-air, surface-to-surface, air-to-air, anti-ship, ballistic, cruise, and space launchers. These systems' intended uses, capabilities, and designs vary. The growth of rockets and missiles is being fueled by the rising emphasis on space research. In order to launch satellites and other spacecraft, rockets are necessary, and missiles are employed to protect against threats from space.
The Hypersonic segment is expected to capture a significant share of the global Rocket and Missiles Market. Hypersonic weapons are specifically designed to achieve speeds surpassing Mach 5, equivalent to around 6,174 kilometers per hour, or five times the speed of sound. These advanced weapons offer numerous advantages over traditional missiles, including exceptional speed, enhanced maneuverability, and the capability to precisely strike targets. The development and deployment of hypersonic weapons have garnered substantial attention from military forces worldwide due to their potential to revolutionize modern warfare. These weapons possess the ability to effectively penetrate enemy defenses and deliver conventional or nuclear payloads with reduced response time, making them highly sought after for offensive and defensive purposes. As a result, there is a significant focus on investing in research, development, and acquisition of hypersonic missile systems across various countries. This trend is projected to drive substantial growth for the Hypersonic segment within the Rocket and Missiles Market. Factors such as increased defense budgets, technological advancements, and the need to modernize military arsenals contribute to the growing demand for hypersonic weapons.
The North America region, particularly the United States, has traditionally been a major player in the rockets and missiles market. The region has a strong aerospace and defense industry, which includes companies such as Boeing, Lockheed Martin, Northrop Grumman, and Raytheon Technologies. These companies have been involved in the design, development, and production of various rockets and missiles for military and civilian applications. The North American rockets and missiles market has witnessed significant growth in the past due to various factors such as defense modernization programs, technological advancements, geopolitical tensions, and the demand for space exploration and satellite launches. The United States, in particular, has a robust defense budget and has invested heavily in missile defense systems, precision-guided munitions, and space-related technologies.
2. Internal and External subject matter experts
3. Professionals and participants from the industry
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
2. Complete coverage of all the segments in the rockets and missiles market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global rockets and missiles market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
The term "Rockets and Missiles Market" refers to the global sector of the economy devoted to the study, creation, manufacture, and sale of rockets and missiles. Projectile weapons such as rockets and missiles are launched into the air to strike selected targets. They are employed for a variety of things, such as commercial applications, offensive operations, military defense, and space exploration. The market includes many different types of rocket and missile systems, such as surface-to-air, surface-to-surface, air-to-air, anti-ship, ballistic, cruise, and space launchers. These systems' intended uses, capabilities, and designs vary. The growth of rockets and missiles is being fueled by the rising emphasis on space research. In order to launch satellites and other spacecraft, rockets are necessary, and missiles are employed to protect against threats from space.
The Hypersonic segment is expected to capture a significant share of the global Rocket and Missiles Market. Hypersonic weapons are specifically designed to achieve speeds surpassing Mach 5, equivalent to around 6,174 kilometers per hour, or five times the speed of sound. These advanced weapons offer numerous advantages over traditional missiles, including exceptional speed, enhanced maneuverability, and the capability to precisely strike targets. The development and deployment of hypersonic weapons have garnered substantial attention from military forces worldwide due to their potential to revolutionize modern warfare. These weapons possess the ability to effectively penetrate enemy defenses and deliver conventional or nuclear payloads with reduced response time, making them highly sought after for offensive and defensive purposes. As a result, there is a significant focus on investing in research, development, and acquisition of hypersonic missile systems across various countries. This trend is projected to drive substantial growth for the Hypersonic segment within the Rocket and Missiles Market. Factors such as increased defense budgets, technological advancements, and the need to modernize military arsenals contribute to the growing demand for hypersonic weapons.
The North America region, particularly the United States, has traditionally been a major player in the rockets and missiles market. The region has a strong aerospace and defense industry, which includes companies such as Boeing, Lockheed Martin, Northrop Grumman, and Raytheon Technologies. These companies have been involved in the design, development, and production of various rockets and missiles for military and civilian applications. The North American rockets and missiles market has witnessed significant growth in the past due to various factors such as defense modernization programs, technological advancements, geopolitical tensions, and the demand for space exploration and satellite launches. The United States, in particular, has a robust defense budget and has invested heavily in missile defense systems, precision-guided munitions, and space-related technologies.
Report Findings
1) Drivers
- Geographical conflicts between countries contribute to the market's growth, as nations strive to enhance their defensive capabilities and invest in missile systems to counter potential threats.
- The growth of the space industry plays a significant role in driving market demand. Satellite deployment and space exploration missions have witnessed a surge in recent years.
2) Restraints
- Stringent regulations pertaining to the use of missiles globally pose challenges for market expansion.
3) Opportunities
- Ongoing advancements in rocket and missile technology open up new possibilities and create opportunities for innovation and growth within the market.
Research Methodology
A) Primary Research
The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents.The primary respondents are approached include
1. Key Opinion Leaders2. Internal and External subject matter experts
3. Professionals and participants from the industry
The primary research respondents typically include
1. Executives working with leading companies in the market under review2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.The secondary sources of the data typically include
1. Company reports and publications2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
Segment Covered
The global rockets and missiles market is segmented on the basis of speed, product, guidance, and platform.The Global Rockets and Missiles Market by Speed
- Subsonic
- Supersonic
- Hypersonic
The Global Rockets and Missiles Market by Product
- Cruise Missiles
- Ballistic Missiles
- Rockets
- Torpedoes
The Global Rockets and Missiles Market by Guidance
- Guided
- Unguided
The Global Rockets and Missiles Market by Platform
- Ground
- Airborne
- Naval
Company Profiles
The companies covered in the report include- Lockheed Martin Corporation
- MBDA Missile Systems Inc.
- Northrop Grumman
- Thales Group
- Raytheon Technologies Corporation (RTX)
- BAE Systems
- Boeing
- Denel Dynamics
- Safran S.A.
- Anduril Industries
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the rockets and missiles market.2. Complete coverage of all the segments in the rockets and missiles market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global rockets and missiles market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Table of Contents
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Global Rockets and Missiles Market Overview
Chapter 5. Company Profiles and Competitive Landscape
Chapter 6. Global Rockets and Missiles Market by Speed
Chapter 7. Global Rockets and Missiles Market by Product
Chapter 8. Global Rockets and Missiles Market by Guidance
Chapter 9. Global Rockets and Missiles Market by Platform
Chapter 10. Global Rockets and Missiles Market by Region 2023-2030
Companies Mentioned
- Lockheed Martin Corporation
- MBDA Missile Systems Inc.
- Northrop Grumman
- Thales Group
- Raytheon Technologies Corporation (RTX)
- BAE Systems
- Boeing
- Denel Dynamics
- Safran S.A.
- Anduril Industries
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | August 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 55.7 Billion |
| Forecasted Market Value by 2030 | 81.34 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
