Missiles Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities

The Missiles 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 Missiles Market Size and Projected Growth Rate?
In the recent past, there has been substantial growth in the size of the missiles market. The growth projection is from $24.96 billion in 2024 to $27.21 billion in 2025 with a compound annual growth rate (CAGR) of 9.0%. The historic growth is largely owed to factors such as geopolitical strains, military modernization initiatives, local security issues, dynamics of the arms race, as well as strategic partnerships and defence agreements.

In the coming years, the missiles market is projected to experience robust growth, reaching a value of $36.11 billion in 2029 with a compound annual growth rate (CAGR) of 7.3%. The anticipated growth during the forecast period can be linked to a variety of factors including rising threats and security issues, advancements in warfare strategies, defensive and deterrent tactics, global armament control agreements, and adjustments in military policies. Predominant trends likely to be observed during the forecast period encompass electromagnetic pulse (EMP) robustness, enhanced long-range striking abilities, missile technology downsizing, as well as a heightened use of multi-mode seekers, joint development, and international alliances.

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What Are the Major Segments in the Missiles Market?
The missiles market covered in this report is segmented -

1) By Product Type: Cruise Missiles, Ballistic Missiles
2) By Range: Short Range Missile, Medium Range Missile, Intermediate Range Missile
3) By Propulsion Type: Ramjet, Scramjet, Turbojet, Liquid Propulsion, Solid Propulsion, Hybrid Propulsion
4) By Application: Defense, Homeland Security

Subsegments:
1) By Cruise Missiles: Subsonic Cruise Missiles, Supersonic Cruise Missiles, Hypersonic Cruise Missiles, Anti-Ship Cruise Missiles
2) By Ballistic Missiles: Short-Range Ballistic Missiles (SRBMs), Medium-Range Ballistic Missiles (MRBMs), Intermediate-Range Ballistic Missiles (IRBMs), Intercontinental Ballistic Missiles (ICBMs)

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What Are The Driving Missiles Market Evolution?
The missile market is forecasted to expand due to rising defense expenditures. To protect their territories, nations worldwide are putting more funds into defense. For example, a report revealed by the Stockholm International Peace Research Institute (SIPRI), an international research institution based in Sweden, in April 2024 stated that global military spending escalated to $2.443 trillion in 2023, a surge of 6.8% in real terms when juxtaposed with 2022. Thus, a hike in defense investing stimulates the evolution of the missile market.

Which Firms Dominate The Missiles Market Segments?
Major companies operating in the missiles market include Raytheon Technologies Corporation, Boeing International Holdings Ltd., Lockheed Martin Corporation, Airbus SE, Hanwha Corporation, China Aerospace Science and Technology Corporation, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems plc, L3Harris Technologies Inc., Textron Inc., JSC Rosoboronexport, Leonardo SpA, Rheinmetall AG, Israel Aerospace Industries, Saab AB, Roketsan Roket Sanayii ve Ticaret AS, MBDA Incorporated, Rafael Advanced Defense Systems Ltd., Kongsberg Gruppen ASA, Aerojet Rocketdyne Holdings Inc., ASELSAN A.S., Bharat Dynamics Limited, Ukroboronprom State Concern, Avibras Industrial Aerospecial SA, Tactical Missiles Corporation

What Trends Are Expected to Dominate the Missiles Market in the Next 5 Years?
Leading businesses within the missile market are placing an emphasis on the creation of innovative products like cruise missiles, in order to counter the consistently changing security threats that modern warfare presents. Cruise missiles are precision-led weapons that maintain steady speed and altitude while transporting explosive payloads across extensive distances. Their design grants them improved maneuverability and stealth, making them highly suited for hitting strategic targets. For example, Anduril Industries, a US defense technology firm, unveiled a new product named Barracuda in September 2024. Barracuda is a collection of cruise missiles, encompassing the Barracuda-100, -250, and -500 models, all possessing distinctive abilities. The Barracuda-500 is crafted for cargo launch from transport aircraft, while the Barracuda-250 is best used in internal carriage on platforms such as the F-35. All models surpass a range of 500 nautical miles, are capable of carrying over 100 pounds payload, can attain 5 Gs of maneuverability, and provide more than 120 minutes of loitering time. These features allow flexibility for diverse missions and compatibility with several payloads.

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Which Is The Largest Region In The Missiles Market?
Asia-Pacific was the largest region in the missiles market in 2024. Western Europe is expected to be the fastest-growing region in the global missiles market report during the forecast period. The regions covered in the missiles 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 Missiles Market?
2. What is the CAGR expected in the Missiles Market?
3. What Are the Key Innovations Transforming the Missiles Industry?
4. Which Region Is Leading the Missiles Market?

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