Solid Rocket Motors Market is Anticipated to Expand upto $8.84 Billion in 2029

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What Is the Forecasted Market Growth Rate of the Solid Rocket Motors Industry?
In recent years, the market size of solid rocket motors has shown robust growth. The market, which stood at $5.95 billion in 2024, is projected to increase to $6.43 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.1%. Factors contributing to this growth during the historic period include heightened interest in space exploration, expanding military applications, increased budget allocations for space programs, rising demand for satellite launch services and an uptick in the number of space missions.

How Will the Solid Rocket Motors Market Size Evolve From 2025 to 2029?
Expectations indicate that the solid rocket motors market will experience substantial growth in the upcoming years. The market is projected to reach a value of $8.84 billion in 2029, with a compound annual growth rate of 8.3%. Factors contributing to this anticipated growth during the forecasted period include the increasing miniaturization of aerospace technology, heightened demand for high-energy propulsion, and a growing emphasis on extended space missions. Additional factors include escalating geopolitical tensions and a rising demand for hypersonic weapons systems. Notable trends expected during the forecast period are the development of high-thrust solid boosters, incorporating them into multi-stage launch vehicles, and their integration into quick response military platforms as well as innovations in case-bonding techniques, and thrust vectoring nozzle design.

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What Are the Main Growth Drivers in the Solid Rocket Motors Market Today?
The solid rocket motors market is expected to flourish due to the growing need for defense systems. Defense systems, which encompass a range of technologies, tools, and strategies designed to safeguard a country or institution from dangers like military invasions, cyber-attacks, or missile launches, are seeing an increased demand for solid rocket motors. This is chiefly attributed to the burgeoning requirement for cutting-edge surveillance since contemporary defense tactics largely depend on immediate intelligence, observation, and situational awareness to uphold national safety and military efficiency. Solid rocket motors, with their high thrust, reliability, and adaptability, play a crucial role in defense systems and support progressive missile technology for accurate and quick deployment in diverse combat situations. For instance, the UK Parliament's House of Commons Library reported that in 2022, the UK, a government-run entity, locked in defense agreements worth £12.0 billion (approximately USD 15.0 billion) in real terms. This signifies a rise of £4.6 billion (roughly USD 5.8 billion) compared to the preceding year. As a result, the solid rocket motors market is expanding due to the escalating need for defense systems.

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Which Solid Rocket Motors Market Segment Is Expected to Lead Through 2029?
The solid rocket motors market covered in this report is segmented -

1) By Product Type: Missiles, Rocket Artillery, Space Launch Vehicles
2) By Component: Propellants, Nozzles, Igniters, Motor Casing
3) By End User: Government And Defense, Commercial Operators

Subsegments:
1) By Missiles: Air-To-Air Missiles, Surface-To-Air Missiles, Surface-To-Surface Missiles, Anti-Ship Missiles, Anti-Tank Missiles
2) By Rocket Artillery: Tactical Rockets, Long-Range Rockets, Short-Range Rockets, Multiple Launch Rocket Systems (MLRS)
3) By Space Launch Vehicles: Small-Lift Launch Vehicles, Medium-Lift Launch Vehicles, Heavy-Lift Launch Vehicles, Reusable Launch Vehicles

Which Market Trends Are Expected to Dominate Solid Rocket Motors Industry Growth?
Major companies in the solid rocket motors industry are concentrating on developing sophisticated propulsion systems with superior performance to sustain future defense and space missions. These advanced propulsion systems are modern technologies aimed at augmenting rocket engine thrust, efficiency, and mechanical performance. These systems aid solid rocket motors by boosting payload capacity, diminishing weight through composite materials, and escalating reliability for defense and space applications. As an illustration, in March 2025, L3Harris Technologies Inc., a firm that holds defense contracts with the US, introduced its state-of-the-art eSR-19 solid rocket motor fitted with a lighter filament-wound composite case to boost performance. The motor fueled the primary and secondary stages of an air-launched medium-range ballistic Missile (MRBM) during the missile defense agency's stellar banshee test. Initiated from a C-17 aircraft, the USS Pinckney monitored the missile using an updated Standard Missile 6 system. This signifies L3Harris' 39th launch in backing U.S. missile defense initiatives. This exhibits the expanding industry emphasis on modern propulsion systems to address the dynamic defense and space mission requirements.

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Which Companies Hold the Largest Market Share in the Solid Rocket Motors Sector?
Major companies operating in the solid rocket motors market are Avio S.p.A., Black Sky Industries Ltd, Bayern-Chemie GmbH, China Aerospace Science and Technology Corporation, Mitsubishi Heavy Industries Ltd., BAE Systems plc, L3Harris Technologies Inc., IHI Corporation, MBDA Incorporated, Aerojet Rocketdyne Holdings Inc., NOF Corporation, Kratos Defense & Security Solutions Inc., Nammo AS, Anduril Industries Inc., Karman Holdings Inc., URSA Space Systems Inc., Ultramet, EDePro d.o.o., Estes Energetics LLC, Evolution Space Inc., Firehawk Aerospace Inc., Advanced Structural Technologies Inc., X-Bow Systems Inc., Spacefields Private Limited

Where Is the Solid Rocket Motors Market Experiencing the Highest Growth?
North America was the largest region in the solid rocket motors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solid rocket motors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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