Press release
Rockets and Missiles Market to Undertake Strapping Growth During 2025
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To achieve sustainable returns in the face of intensifying competition, companies in the market are focusing on growth strategies such as mergers and acquisitions, collaborations, and more stress on research and development activities. These activities are expected to further intensify the level of competition in the global market for rockets and missiles.
TMR estimates that the global market for rockets and missiles will expand at a moderate 3.2% CAGR over the period between 2017 and 2025, rising from a valuation of US$32.10 bn in 2016 to an opportunity of US$43.01 bn by 2025.
North America to Continue to Hold Top Post in Global Market
In terms of type of rockets, the global rockets and missiles market witnessed the most promising business prospects for the segment of artillery rockets in 2016. The segment, venerated for its ability of destroying multitude of enemy weapons such as tanks, naval ships, armored vehicles, and submarines, is expected to continue to command a prominent position in terms of demand and sales in the global market over the forecast period as well.
In terms of geography, the market in North America dominated the global rockets and missiles market in terms of revenue contribution in 2016. The regional market accounted for over 30% of the global market in the said year and is expected to further add to its share in the global market over the report’s forecast period. Presence of some of the leading vendors in the global market and the rising defense budgets of the U.S. will play a key role in strengthening North America’s role in global rockets and missiles market in the near future.
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About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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