Rocket and Missile Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis

The Rocket and Missile Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Rocket and Missile Market Size and Its Estimated Growth Rate?
The worth of the rocket and missile market has seen continuous growth in the past few years. It is anticipated to increase from $64.14 billion in 2024 to $68.6 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.9%. Factors that contributed to the historical growth include military and defense spending, geopolitical conflicts, the dynamics of the arms race, initiatives related to space exploration, changes in military strategies and defense modernization endeavors.

The market size of rockets and missiles is projected to experience robust expansion in the coming years. It is predicted to reach $87.97 billion by 2029, with a compound annual growth rate (CAGR) of 6.4%. Factors contributing to the growth during the forecast period include ongoing lunar missions and developments in space tourism, the advent of new threats, an increase in the placement of commercial satellites, and the commercialization of space. Major advancements forecasted during this period encompass ecologically sustainable propulsion, the application of artificial intelligence, and autonomous systems, technological shrinkage, along with the incorporation of AI-based tech solutions.

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How Are Emerging Segments Shaping the Rocket and Missile Market Landscape?
The rocket and missile market covered in this report is segmented -

1) By Type: Missile, Rocket
2) By Guidance Type: Guided, Self-Guided
3) By Propulsion Type: Ramjet, Turbojet, Scramjet, Liquid Propulsion, Solid Propulsion, Hybrid Propulsion
4) By Platform: Air-To-Air, Air-To-Surface, Surface-To-Air, Surface-To-Surface, Air-To-Marine, Marine-To-Air

Subsegments:
1) By Missile: Tactical Missiles, Strategic Missiles, Cruise Missiles, Ballistic Missiles, Air-To-Air Missiles, Surface-To-Air Missiles
2) By Rocket: Launch Vehicles, Space Rockets, Sounding Rockets, Military Rockets, Propellant Rockets

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Which Growth Factors Are Influencing Rocket and Missile Market Expansion?
The escalation of terrorism and geopolitical unrest is projected to stimulate the expansion of the rockets and missiles market. Terrorism, characterized by threats or violence designed to induce fear and thereby coerce governments and citizens into endorsing certain political or social objectives, serves to escalate the widespread use of rockets and missiles to ensure border security. This comes as a part of efforts to safeguard international land borders from illicit activities. Notably, the US Customs and Border Protection Enforcement Statistics 2022 reports an increase in total enforcement action from 646, 822 in 2020 to 2, 493, 721 in 2022. Therefore, the surge in terrorism and geopolitical disorder propels the growth of the rocket and missile market.

Who Are the Dominant Players Across Different Rocket and Missile Market Segments?
Major companies operating in the rocket and missile market are Denel Dynamics (Pty) Ltd., General Dynamics Corporation, Kongsberg Defence & Aerospace AS, Lockheed Martin Corporation, MBDA Incorporated, Roketsan Roket Sanayii ve Ticaret A.S., Mesko S.A., Nordic Ammunition Company, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, Saab AB, Thales Group, Bharat Dynamics Limited, Aerojet Rocketdyne Holdings Inc., Hindustan Aeronautics Limited, Larsen & Toubro Ltd., Rostec State Corporation, Tactical Missiles Corporation, Almaz-Antey Concern, Novator Design Bureau, JSC Makeyev Design Bureau, Yuzhnoye Design Office, YUZHMASH, Pakistan Ordnance Factories, Konstruktorskoye Byuro Radioelektronnykh Priborov, NPO Mashinostroyenia, The Boeing Company, Northrop Grumman, Defence Research and Development Organisation

What Are the Latest Developing Trends in the Rocket and Missile Market?
Leading businesses in the rocket and missile industry are focusing on creating state-of-the-art technologies such as air missiles to expand their consumer base, boost sales, and elevate their revenue. Air missiles, also known as guided missiles, are projectiles created for targeted and accurate navigation in the air. To illustrate, in February 2023, Bharat Dynamics Limited (BDL), a firm based in India that specializes in ammunition and missile systems production, introduced the Vertical Launched VL SR SAM, a Drone Delivered Missile, and a Semi-Active Laser Seeker Homing Anti-Tank Guided Missile. The VL SR SAM is an innovative ship-based air defense system, suitable for all-weather conditions and specifically meant for speedy responses to supersonic sea-skimming dangers. With components such as a canisterized missile, WCS, VLU, MFR, LCS, DLX, and INS, this new-age system provides a comprehensive defense solution. The Semi-Active Laser Seeker Homing Anti-Tank Guided Missile, known for its subsonic capability, has a 4000-meter range and 25-second flight duration, thus providing exceptional flexibility and can be launched from a tripod or a BMP in different scenarios. The Drone Delivered Missile, notable for its compact, lightweight structure, is ideal for confronting soft-skinned targets. It has a range of 1.5 km and an agile flight time of 9 seconds, making it adept at mitigating drone-delivered threats with speed and accuracy.

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Which Geographic Regions Are Expected to Dominate the Rocket and Missile Market in the Coming Years?
North America was the largest region in the rocket and missile market analysis in 2024. The regions covered in the rocket and missile market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Rocket and Missile Market?
2. What is the CAGR expected in the Rocket and Missile Market?
3. What Are the Key Innovations Transforming the Rocket and Missile Industry?
4. Which Region Is Leading the Rocket and Missile Market?

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