Rockets & Missiles Market by Type (Missile, Rocket), Speed (Hypersonic, Subsonic, Supersonic), Platform, Guidance Mechanism, Application - Global Forecast 2024-2030

Rockets & Missiles Market by Type (Missile, Rocket), Speed (Hypersonic, Subsonic, Supersonic), Platform, Guidance Mechanism, Application - Global Forecast 2024-2030

The Rockets & Missiles Market size was estimated at USD 62.43 billion in 2023 and expected to reach USD 67.33 billion in 2024, at a CAGR 7.85% to reach USD 105.97 billion by 2030.

The rockets and missiles market encompasses the design, manufacturing, sale, and application of projectiles designed for military defense, aerospace exploration, satellite launches, and other related fields. The surge in defense budgets by governments worldwide for the modernization of military resources are significantly contributing to the market growth. The rising number of conflicts amid the geopolitical tensions across the globe are also creating the surge in demand for rockets and missiles. Moreover, technological issues related to the integration of rockets & missiles are expected to limit the market growth. Additionally, stringent governmental regulations related to arms transfer are also posing a challenge for adoption of rockets and missiles. Furthermore, the development of new generation rocket & missile systems and technical advancements in warfare techniques are expected to attract lucrative opportunities for the market in the forecast period.

Regional Insights

The rockets and missiles market is a highly specialized, technical, and diverse industry across various regions worldwide. The United States plays a dominant role in the Americas region, given its heavy investments in the research and development of cutting-edge missile systems. Canada also contributes to the regional market with defense collaborations through programs like the Surface Combatant Program. In the European region, countries including France, Germany, Italy, and the United Kingdom are actively involved in collaborative efforts for missile systems development. Investment in research initiatives and projects showcases Europe's commitment to strengthening its defense capabilities. The Middle East region has witnessed a rise in demand for advanced rocket and missile systems due to geopolitical tensions and increasing military expenditure by countries such as Saudi Arabia, Israel, Iran, and Turkey. The Asia Pacific region is characterized by rapid economic growth coupled with rising military expenditures from major countries such as China, Japan, India, and South Korea. These countries are actively involved in collaborations with international partners to enhance their technological expertise.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Rockets & Missiles Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increase in defense budget across the globe
Rise in number of conflicts and need for efficient armed resources
Growing modernization of military resources

Market Restraints

Issues related to the integration of rockets & missiles

Market Opportunities

Development of new generation rocket & missile systems
Technological advancements in warfare techniques

Market Challenges

Stringent regulations related to arms transfer

Market Segmentation Analysis

Speed: Types of rockets and missiles as per their speeds
Platform: Significance of various launching platforms
Guidance Mechanism: Significance of guidance mechanism for accuracy & precision
Application: Diverse applications areas of rockets and missiles

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Rockets & Missiles Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Rockets & Missiles Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

L3harris Completes Aerojet Rocketdyne Acquisition

L3Harris Technologies has successfully completed the acquisition of Aerojet Rocketdyne, thereby establishing a new business segment and expanding the defense industrial base. The completion of this acquisition marks a significant step towards strengthening L3Harris' position in the defense sector, and the company is poised for even greater success in the future with the expanded capabilities and resources that Aerojet Rocketdyne brings to the table.

Anduril Moves into Hypersonics with Acquisition of Rocket Motor Maker

Anduril Industries has announced its acquisition of Adranos, a significant manufacturer of solid rockets. This strategic move by Anduril allows them to establish a strong presence in the hypersonic and missile market

Lockheed, Rheinmetall Pair Up to Build Europe-Made Rocket Launcher

Lockheed Martin Corp. and Rheinmetall AG have formed a partnership to offer GMARS, a European-made rocket launcher, based on the HIMARS system, to Germany and its neighboring countries. GMARS is designed to replace Berlin's aging MARS 2 multiple launch rocket systems and will feature a Rheinmetall chassis and Lockheed Martin loader component.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Rockets & Missiles Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Rockets & Missiles Market, highlighting leading vendors and their innovative profiles. These include AeroVironment, ASELSAN A.Ş., Astra Space, Inc., BAE Systems PLC, Bharat Dynamics Limited, Denel Dynamics, Elbit Systems Ltd., Firefly Aerospace Inc., Frontier Electronic Systems Corporation, General Dynamics Corporation, Israel Aerospace Industries Ltd., Kongsberg Gruppen ASA, Kratos Defense & Security Solutions, Inc., LIG Nex1 Co., Ltd., Lockheed Martin Corp., Mesko S.A., Nammo AS, Northrop Grumman, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corp., Rocket Lab USA, Inc., Roketsan A.Ş., Saab AB, Thales Group, and The Boeing Company.

Market Segmentation & Coverage

This research report categorizes the Rockets & Missiles Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Missile
Ballistic Missile
Cruise Missile
Rocket
Air-Launched Rocket
Artillery Rocket
Speed
Hypersonic
Subsonic
Supersonic
Platform
Airborne
Ground
Naval
Guidance Mechanism
Guided
Unguided
Application
Commercial
Military
Space Exploration
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year