Rockets and Missiles Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

Rockets and Missiles Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

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 tthe global sector of the economy devoted tthe study, creation, manufacture, and sale of rockets and missiles. Projectile weapons such as rockets and missiles are launched intthe air tstrike 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 tlaunch satellites and other spacecraft, rockets are necessary, and missiles are employed tprotect against threats from space.

The Hypersonic segment is expected tcapture a significant share of the global Rocket and Missiles Market. Hypersonic weapons are specifically designed tachieve speeds surpassing Mach 5, equivalent taround 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 tprecisely strike targets. The development and deployment of hypersonic weapons have garnered substantial attention from military forces worldwide due ttheir potential trevolutionize modern warfare. These weapons possess the ability teffectively 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 tdrive substantial growth for the Hypersonic segment within the Rocket and Missiles Market. Factors such as increased defense budgets, technological advancements, and the need tmodernize military arsenals contribute tthe 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 tvarious 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 tthe market's growth, as nations strive tenhance their defensive capabilities and invest in missile systems tcounter 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 tthe 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

Our 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 Leaders associated with Infinium Global Research

2. Internal and External subject matter experts

3. Professionals and participants from the industry

Our primary research respondents typically include

1. Executives working with leading companies in the market under review

2. 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. At Infinium Global Research, 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 publications

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

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 tanalyze the trends, developments in the global market and forecast of market size up t2030.

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. IGR- Growth Matrix presents an analysis of the product segments and geographies that market players should focus tinvest, consolidate, expand and/or diversify.