Rockets and Missiles Market Research Report Market Size & Share to hit Around $92.66 Billion by 2031 Says IMIR

Market Overview:
The Rockets and Missiles Market size was valued at around US$ 64.76 billion in 2023 and is expected to reach a value of USD 92.66 Billion by 2031, at a CAGR of 4.58% over the forecast period (2024-2031).

A rocket represents an advanced form of reaction propulsion, utilizing its own oxidant to propel a launch vehicle forward. Employed as a means of propulsion, a reaction motor generates thrust by expelling material in the opposite direction. A missile, an unmanned vehicle, integrates a guidance system with an explosive payload, with guidance typically facilitated by a ground-based communication center. The growth of the industry is foreseen to be driven by emerging economies like China and India, as they increase defense spending. Additionally, the industry stands to benefit from global shifts in military technology. Opportunities in the market include initiatives aimed at developing more advanced autonomous systems. Conversely, the high costs associated with the construction of rockets and missiles serve as a constraint to industry expansion. The military sector encountered various challenges in the aftermath of the COVID-19 pandemic, leading to economic difficulties, although it was not severely impacted.

Global Rockets and Missiles Market Size, Share & Trends Analysis Report By Type (Missile, Rocket), By Platform (Airborne, Naval, Ground), By Launch Mode (Surface-to-Surface, Surface-to-Air, Air-to-Air, Air-to-Surface, Subsea-to-Surface, Sea-to-Sea), By Propulsion (Solid, Liquid, Hybrid, Scramjet, Cryogenic, Ramjet, Turbojet, Pulsejet, Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America), Global Economy Insights, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast Till 2032.

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List of Companies Profiled:
• Denel Dynamics (South Africa)
• General Dynamics Corporation (U.S.)
• ROKETSAN A.S. (Turkey)
• KONGSBERG (Norway)
• Lockheed Martin Corporation (U.S.)
• MBDA (France)
• MESKO (Poland)
• Nammo AS (Norway)
• Rafael Advanced Defense Systems Ltd. (Israel)
• Raytheon Technologies Corporation (U.S.)
• Saab AB (Sweden)
• Thales Group (France)

The report enhances the decision making capabilities and helps to create an effective counter strategies to gain competitive advantage.

Market Dynamics - Market Drivers:
Technological Advancements in Warfare Techniques to Propel the Market's Progress
• Advanced weaponry technology, particularly guided weapons, is a leading-edge strategy employed by various military organizations globally. These guided missiles encompass a range of advanced systems, including short-range anti-air missiles, medium to long-range air-to-land and air-to-air missiles, as well as ballistic and cruise missiles. Notably, countries such as the United States, China, and Russia are actively developing hypersonic missiles capable of achieving speeds up to Mach 5. The market is witnessing growth fueled by the increasing adoption of Command, Control, Computers, Communications, Cyber, Intelligence, Surveillance, and Reconnaissance (C5ISR) warfare techniques by nations like India, aiming to streamline strike operations on the battlefield.

Geographically, this report split global into several key Regions, revenue (Million USD) The geography (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) focusing on key countries in each region. It also covers market drivers, restraints, opportunities, challenges, and key issues in Global Post-Consumer Rockets and Missiles Market.

Market Restraining Factors:
Stringent regulations
• The rocket and missile industry is heavily regulated, mainly due to fears related to international security, the proliferation of advanced missile technology, and the potential for misuse by rogue states. The Missile Technology Control Regime (MTCR) is one of the most prominent regulatory frameworks, which aims to restrict the proliferation of missiles capable of carrying weapons of mass destruction. Under the MTCR, member countries agree to limit the export of specific missile-related technologies and systems to non-member states. This may significantly impede manufacturers' ability to enter new markets or sell their products internationally, especially when dealing with countries that are not MTCR members.

Final Report will add the analysis of the impact of COVID-19 on this industry.

Rockets and Missiles Market Segmentation:
By Type
• Missile
• Rocket
By Platform
• Missiles
• Naval
• Ground
By Propulsion
• Solid
• Liquid
• Hybrid
• Ramjet
• Turbojet
• Scramjet
• Cryogenic
• Pulsejet
• Others
By Launch Mode
• Surface-to-Surface
• Surface-to-Air
• Air-to-Air
• Air-to-Surface
• Subsea-to-Surface
• Sea-to-Sea

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Market Dynamics - Market Trends:
The Increasing Territorial Conflicts Is Driving the Market Growth
• The root cause of most territorial disputes lies in nations' claims to exclusive control or sovereignty over valuable natural resources, including fertile farmland, rivers, minerals, and oil reserves. One notable example is the ongoing contention between China and Japan over several islands in the East China Sea, known as the Senkaku Islands in Japan and the Diaoyu Islands in China, leading to escalating tensions between the two countries. Similarly, the conflict between Israelis and Palestinians in the Middle East revolves around competing territorial claims, particularly regarding land in Jordan and the Mediterranean region.

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