Rocket and Missile Market Size, Share & Growth Report | 2031

Segments - Rocket and Missile Market by Types (Missile [Ballistic Missile and Cruise Missile], and Rocket [Artillery Rocket and Air-launched Rocket]), Platforms (Airborne, Naval, and Ground), Launch Mode (Surface-to-Surface, Surface-to-Air, Air-to-Air, Air-to-Surface, and Subsea-to-Surface), Propulsion (Solid, Liquid, Hybrid, Scramjet, Cryogenic, and Ramjet), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Indranil Bose

Editor : Shruti Bhat

Report Description

The Global Rocket and Missile Market size was valued at USD 60.48 Billion in 2022 and is expected to surpass USD 89.88 Billion by 2031, expanding at a CAGR of 4.5% during the forecast period, 2023–2031. The growth of the market is attributed to the uncertain geo-political issues and war dynamics.

A rocket is defined as a technologically advanced jet engines that can transport its oxidant to propel the launcher. Reaction motors are used as propellers to generate forward thrust by injecting the rocket frame in the backward direction. The four major parts of a rocket are structural system, payload system, guidance system, and propulsion system.

A missile is a rocket vehicle that combines sighting system and explosives. Missiles are launched from the ground communication center.

The first rocket was launched in Germany in 1942, named V2 missile. Dr. Robert Hutchings Goddard is the father of modern rocket propulsion. In terms of technology, Russia has more advance missiles than any other country in the world. BrahMos is the fastest missile in the world, having a speed around 2,300 mph.

Rocket and Missile Market Trends, Dynamics, Restraints, and Opportunities

The proliferation of rockets and missiles worldwide is increasing due to uncertain geo-political issues and war dynamics. Armies around the world are increasingly using modern rockets and missiles to counter these threats.
Technological advancements in warfare techniques are expected to drive the market during the forecast period.
Increasing demand for automatic target recognition (ATR) missile systems is driving the market.
Rising investments for the miniaturization of missile systems and other related components and growing military budget are fueling the market.
High development costs associated with rockets and missiles is expected to hamper the market during the forecast period.
The development of hybrid fuel powered missiles is providing growth opportunities for key players in the market.

Scope of the Rocket and Missile Market Report

The report on the global rocket and missile market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Rocket and Missile Market- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Types (Missile [Ballistic Missile and Cruise Missile], and Rocket [Artillery Rocket and Air-launched Rocket]), Platforms (Airborne, Naval, and Ground), Launch Mode (Surface-to-Surface, Surface-to-Air, Air-to-Air, Air-to-Surface, and Subsea-to-Surface), Propulsion (Solid, Liquid, Hybrid, Scramjet, Cryogenic, and Ramjet)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Denel Dynamics, General Dynamics Corporation, KONGSBERG, Lockheed Martin Corporation, MBDA, MESKO, Nammo AS, SAAB, Rafael Advanced Defense Systems Ltd., and Raytheon Technologies Corporation

Rocket and Missile Market Segments Insights

Based on types, the rocket and missile market is bifurcated into missile and rocket. The missile segment is sub-segmented into ballistic missiles and cruise missiles. The rocket segment is further divided into artillery rocket and air-launched rocket. The missile segment is expected to dominate the market during the forecast period.

The ballistic missile is a self-guided strategic weapon system used to deliver the payload from the launch site to the pre-determined target it follows the ballistic trajectory. Ballistic missiles can carry powerful conventional explosives, chemical, biological, or nuclear weapons. A cruise missile is a self-guided missile with a radar system that can track terrain and fly at medium speed and low altitudes.

On the basis of platforms, the market is segregated into airborne, naval, and ground. The ground segment is projected to hold a significant share of the market during the forecast period, owing to the increasing use of land-attack cruise missile and ballistic missile globally.

In terms of launch mode, the rocket and missile market is segregated into surface-to-surface, surface-to-air, air-to-air, air-to-surface, and subsea-to-surface. The surface-to-surface missile segment is estimated to constitute a significant share of the market during the forecast period, as it is used by military in battlefield operations. The missile is launched from the ground to strike air targets such as military aircrafts and military helicopters.

Based on propulsion, the market is fragmented into solid, liquid, hybrid, scramjet, cryogenic, and ramjet. The solid segment accounts for a significant share of the market owing to the increasing use of solid fuel in ballistic missiles. Solid fuel is used in solid gas engines, as it is made from aluminum powder.

On the basis of regions, the global rocket and missile market is segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to dominate the market during the forecast period, as the US army is increasing the use of fiber optic guidance systems in various countries, and increased spending by the US and Canada on military modernization programs.

Segments

By Types

Missile
- Cruise Missile
- Ballistic Missile
Rocket
- Artillery Rocket
- Air-launched Rocket

By Platforms

Airborne
Naval
Ground

By Launch Mode

Surface-to-Surface
Surface-to-Air
Air-to-Air
Air-to-Surface
Subsea-to-Surface

By Propulsion

Solid
Liquid
Hybrid
Scramjet
Cryogenic
Ramjet

By Regions

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

By Key Players

Denel Dynamics
General Dynamics Corporation
KONGSBERG
Lockheed Martin Corporation
MBDA
MESKO
Nammo AS
SAAB
Rafael Advanced Defense Systems Ltd.
Raytheon Technologies Corporation

Competitive Landscape

Key players focus on strategies such as product launches, technological advancements, mergers and acquisitions, partnerships, collaborations, joint ventures, and research and developments (R&D). Some of the key players are Denel Dynamics, General Dynamics Corporation, KONGSBERG, Lockheed Martin Corporation, MBDA, MESKO, Nammo AS, SAAB, Rafael Advanced Defense Systems Ltd., and Raytheon Technologies Corporation.

Rocket and Missile Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Rocket and Missile Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Rocket and Missile Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Rocket and Missile Market - Supply Chain
  4.5. Global Rocket and Missile Market Forecast
     4.5.1. Rocket and Missile Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Rocket and Missile Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Rocket and Missile Market Absolute $ Opportunity
5. Global Rocket and Missile Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Rocket and Missile Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Rocket and Missile Demand Share Forecast, 2019-2026
6. North America Rocket and Missile Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Rocket and Missile Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Rocket and Missile Demand Share Forecast, 2019-2026
7. Latin America Rocket and Missile Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Rocket and Missile Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Rocket and Missile Demand Share Forecast, 2019-2026
8. Europe Rocket and Missile Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Rocket and Missile Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Rocket and Missile Demand Share Forecast, 2019-2026
9. Asia Pacific Rocket and Missile Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Rocket and Missile Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Rocket and Missile Demand Share Forecast, 2019-2026
10. Middle East & Africa Rocket and Missile Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Rocket and Missile Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Rocket and Missile Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Rocket and Missile Market: Market Share Analysis
  11.2. Rocket and Missile Distributors and Customers
  11.3. Rocket and Missile Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Denel Dynamics
     11.4.2. General Dynamics Corporation
     11.4.3. KONGSBERG
     11.4.4. Lockheed Martin Corporation
     11.4.5. MBDA
     11.4.6. MESKO
     11.4.7. Nammo AS
     11.4.8. SAAB