2025-2034 Rocket and Missile Market Evolution: Disruptions, Innovations, and Untapped Opportunities

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What Is the Expected CAGR for the Rocket and Missile Market Through 2025?
Significant growth has been observed in the rocket and missile market in the past few years. It's projected to expand from a valuation of $64.14 billion in 2024 to $68.6 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.9%. This expansion during the historical period is linked to factors like military and defense spending, geopolitical disagreements, dynamics of the arms race, endeavors in space exploration, changes in warfare strategies, and defense modernization initiatives.

What's the Projected Size of the Global Rocket and Missile Market by 2029?
The market size of rockets and missiles is projected to experience robust expansion in the upcoming years. The market is forecasted to reach a value of $87.97 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.4%. Factors contributing to the growth in this forecast period include space tourism and lunar missions, the appearance of new threats, an increase in commercial satellite deployment, and commercialization of space. Key trends during this forecast period are environmentally sustainable propulsion, artificial intelligence and autonomous systems, technological miniaturization, and AI-driven technology solutions.

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Top Growth Drivers in the Rocket and Missile Industry: What's Accelerating the Market?
The growth of the rockets and missiles market is projected to gain momentum due to escalating terrorism and geopolitical uncertainties. The tactics of terrorism involve the use of threats or violence to evoke fear among the populace, thereby coercing governments and citizens to back specific political or societal objectives. These conflicts and acts of political radicalism lead to the widespread use of rockets and missiles to guarantee security along international borders and prevent illicit activities. For instance, data from the US Customs and Border Protection Enforcement Statistics 2022 indicates that total enforcement actions escalated from 646,822 in 2020 to 2,493,721 in 2022. As a result, the surge in terrorism and geopolitical destabilisation fuels the expansion of the rocket and missile market.

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What Trends Will Shape the Rocket and Missile Market Through 2029 and Beyond?
Leading entities in the rocket and missile market are enhancing their scope by innovating advanced technologies such as air missiles to cater to a broader clientele, boost sales, and elevate revenue. An air missile, also known as a guided missile, is a propelled weapon engineered to navigate in the air towards a specific target. For example, in February 2023, Bharat Dynamics Limited (BDL), a renowned ammunition and missile systems manufacturer from India, unveiled Vertical Launched VL SR SAM, a Semi-Active Laser Seeker Homing Anti-Tank Guided Missile and Drone Delivered Missile. The VL SR SAM is a notable advanced maritime air defense system meant for quick reaction to fend off supersonic sea-skimming threats. As a next-generation system, it incorporates a range of components including a canisterized missile, Weapon Control System (WCS), Vertical Launcher Unit (VLU), Multi-Function Radar (MFR), Launcher Control System (LCS), Data Link Transceiver (DLX), and Inertial Navigation System (INS) to provide a comprehensive defense solution. Characterized by its subsonic speed, the Semi-Active Laser Seeker Homing Anti-Tank Guided Missile possesses a range of 4000 meters and a flight duration of 25 seconds. Demonstrating considerable versatility, it can be utilized from either a tripod or a BMP, allowing flexible deployment in diverse scenarios. The Drone Delivered Missile, known for its lightweight and compact build, is carefully engineered to deal with soft-skinned targets. With a flight range of 1.5 km and an expedient flight duration of 9 seconds, it demonstrates exceptional efficiency and precision in neutralizing drone-propagated threats.

What Are the Main Segments in the Rocket and Missile Market?
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 Top Companies are Driving Growth in the Rocket and Missile Market?
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

Which Regions Will Dominate the Rocket and Missile Market Through 2029?
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.

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