U.S. Rockets and Missiles Market To Receive Overwhelming Hike USD 34,338.18 Million In Revenues By 2032

According to the latest market research the "U.S. Rockets and Missiles Market by Speed (Subsonic, Supersonic, Hypersonic), Product (Cruise Missiles, Ballistic Missiles, Rockets, Torpedoes), Propulsion Type, Launch Mode, Region- Global Forecast to 2032", is anticipated to grow from USD 20,476.11 million in 2023 to USD 34,338.18 million by 2032, exhibiting a CAGR of 5.9% over the forecast period.

A rocket is a reaction-propulsion device carrying all of its fuel internally. Rockets are comparatively easier to maintain and can be deployed swiftly. Missiles, which are also powered by fuels that ignite to produce thrust, are an enhanced version of rockets. While rockets primarily rely on accurate aiming, every individual missile comes with its guidance system.

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Depending on the specific requirements, the propulsion type for rockets and missiles can be solid fuel, liquid fuel, hybrid, and turbojet. Solid fuel chemical propulsion is usually used as a launch vehicle booster, whereas liquid fuel chemical propulsion finds applications in controlling and maneuvering thrusters.

Advances in technology, which have led to the development of next-gen air and missile systems, are driving the U.S. rockets and missiles market demand. Major worldwide economies, such as the U.K., U.S., and Australia, are making collaborations to develop hypersonic missile systems, thereby enhancing their flexibility and effectiveness over their traditional counterparts.

The hypersonic segment is anticipated to witness the fastest CAGR over the forecast period. The exceptional growth of hypersonic weapons can primarily be attributed to their exceptional speed, which presents significant challenges for countermeasures. Also, the supersonic segment led the industry with a 34.01% revenue share as these aircraft and missiles can achieve speeds that surpass the sound barrier.

Moreover, cruise missiles, which are guided missiles used against naval or terrestrial targets, witnessed the largest market share in 2023.

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Major Key Players:

• Lockheed Martin
• Frontier Electronic Systems
• L3Harris Technologies
• Raytheon
• Northrop Grumman Corporation

Frequently Asked Questions

What is the current industry size and forecast value?
Ans: The U.S. rockets and missiles market size was valued at USD 20,476.11 million in 2023 and is projected to reach USD 34,338.18 million by 2032.

What are the key segments in the market?
Ans: The market segmentation for U.S. rockets and missiles is primarily based on speed, product, propulsion type, and region.

At what CAGR is the industry projected to grow?
Ans: The market is projected to witness a steady CAGR of 5.9% over the forecast period.

What are the key factors driving the U.S. rockets and missiles industry sales?
Ans: The market sales are primarily driven by the rising adoption of hypersonic missile systems and growing space exploration in the U.S.

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Polaris Market Research has segmented the U.S. Rockets and Missiles report based on speed, product, propulsion type, and launch mode:

U.S. Rockets and Missiles, Speed Outlook (Revenue - USD Million, 2019 - 2032)
 Subsonic
 Supersonic
 Hypersonic

U.S. Rockets and Missiles, Product Outlook (Revenue - USD Million, 2019 - 2032)
 Cruise Missiles
 Ballistic
 Rockets
 Torpedoes

U.S. Rockets and Missiles, Propulsion Type Outlook (Revenue - USD Million, 2019 - 2032)
 Solid
 Hybrid
 Turbojet
 Others

U.S. Rockets and Missiles, Launch Mode Outlook (Revenue - USD Million, 2019 - 2032)
 Surface to Surface
 Surface to Air
 Air to Air
 Air to Surface
 Subsea to Surface

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This release was published on openPR.