Rockets and Missiles Market (Speed - Subsonic, Supersonic, and Hypersonic; Product - Cruise Missiles, Ballistic Missiles, Rockets, and Torpedoes; Guidance - Guided, and Unguided; Platform - Ground, Airborne, and Naval): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report published by Infinium Global Research on rockets and missiles market provides in-depth analysis of segments and sub-segments in the global as well as regional rockets and missiles market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional rockets and missiles market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global rockets and missiles market.

Market Insight:

The global rockets and missiles market was valued at USD 55.70 billion in 2022 and is expected to reach USD 81.34 billion in 2030, with a CAGR of 4.3% during the forecast period 2023-2030.

The rockets and missiles market is a global industry that encompasses the development, production, and sale of rockets and missiles. This market is driven by multiple factors, including the continual increase in defense spending, advancements in technology, and the demand for new and enhanced weapons systems. Rockets and missiles find applications across a wide range of sectors, including military operations, aerospace endeavours, scientific research, and space exploration. The utilization of rockets and missiles offers several advantages. One of these is long-range precision, as these systems possess the capability to accurately deliver payloads over significant distances. This precision allows for targeted strikes and effective engagement of specific objectives. Another benefit is the high speed of rockets and missiles. They can travel at incredibly fast velocities, enabling swift response times and rapid engagement of targets. This speed is crucial in military operations, as it provides a tactical advantage and the ability to quickly neutralize threats. Furthermore, rockets and missiles can be equipped with various types of warheads, such as conventional explosives or nuclear payloads, enhancing their versatility in different scenarios. This adaptability allows for tailored approaches depending on the mission requirements.

The rockets and missiles market is propelled by several factors. 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 stronger defense systems fuels the demand for advanced rockets and missiles. Additionally, 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. As space agencies and private companies launch more satellites and undertake ambitious space missions, there is a heightened need for reliable and efficient rocket systems to facilitate these endeavours. However, certain factors restrain the growth of the market. Stringent regulations pertaining to the use of missiles globally pose challenges for market expansion. Compliance with international regulations and restrictions on missile technology can limit the growth opportunities for rocket and missile manufacturers. Furthermore, the cost associated with the development, production, and maintenance of rockets and missiles can be a hindrance to market growth. Nevertheless, the market also presents opportunities driven by technological advancements. Ongoing advancements in rocket and missile technology open up new possibilities and create opportunities for innovation and growth within the market. These advancements include improvements in propulsion systems, guidance and control systems, and materials used in rocket construction, among others.

The rockets and missiles market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America is projected to capture a significant share of the global market. The region's market dominance can be attributed to several factors. Firstly, there is a rise in launch vehicles, and research and development activities aimed at developing cost-effective propulsion technologies, which are expected to drive the demand for advanced rocket and missile propulsion systems in North America. Furthermore, the United States defense budget allocation for missile and ballistic missile programs is growing, leading to an increased demand for propulsion systems. The country's strong emphasis on defense and its commitment to enhancing military capabilities contribute to the market growth in North America. In the Asia Pacific region, significant growth is expected, making it the fastest-growing region in the rockets and missiles market. Countries like China, India, and Russia are making substantial investments in modernizing their military forces, including the development and acquisition of advanced rocket and missile systems. Additionally, countries in the Asia Pacific region have actively engaged in space exploration, satellite launch activities, and scientific research. The increased demand for rocket launches, particularly for satellite deployments and space missions, further fuels the growth of the rockets and missiles market in this region.

Report Scope of the Rockets and Missiles Market:

Segment Covered

The report on global rockets and missiles market covers segments such as speed, product, guidance, and platform. On the basis of speed, the sub-markets include subsonic, supersonic, and hypersonic. On the basis of product, the sub-markets include cruise missiles, ballistic missiles, rockets, and torpedoes. On the basis of guidance, the sub-markets include guided, and unguided. On the basis of platform, the sub-markets include ground, airborne, and naval.

Companies Profiled:

The report provides profiles of the companies in the market such as Lockheed Martin Corporation, MBDA Missile Systems Inc., Northrop Grumman, Thales Group, Raytheon Technologies Corporation (RTX), BAE Systems, Boeing, Denel Dynamics, Safran S.A., and Anduril Industries.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the rockets and missiles market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.