Space Vehicle & Missile Manufacturing in the US - Industry Market Research Report

Space Vehicle & Missile Manufacturing in the US

The industry, which develops and manufactures missiles, rockets, spacecraft and related equipment and components, has faced heavy volatility through 2023. Since the US government, particularly the Department of Defense (DoD), accounts for the majority of spending on missile and space products and programs, the industry's performance is highly correlated with government spending levels. Historically, when Congress attempts to rein in spending, funding sharply declines. Even so, rising global tensions have led to surging defense spending domestically and internationally. Revenue has increased at a CAGR of 4.6% over past five years, reaching $40.1 billion, including a 3.3% increase in 2023 alone. Even though the government diverted some defense spending to COVID-19 recovery programs, the pandemic is not estimated to have significantly affected revenue. Profit, though, has declined because of rising competition and high input prices.

This industry comprises businesses involved in the manufacture of guided missiles and space vehicles, including the development of prototypes and the manufacture and development of parts, propulsion units and support equipment used in guided missiles and space vehicles. This industry does not produce satellites.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.