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Global Rocket and Missile Market to reach USD 79.36 billion by the end of 2030

Global Rocket and Missile Market Size study & Forecast, by Speed (Subsonic, Supersonic, Hypersonic), by Product (Cruise Missiles, Ballistic Missiles, Rockets, Torpedoes), by Guidance (Guided, Unguided), by Platform (Naval, Ground, Airborne) and Regional Analysis, 2023-2030

Product Code: SSAD-66383719
Publish Date: 20-02-2024
Page: 200

Global Rocket and Missile Market is valued at approximately USD 57.10 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.2% during the forecast period 2023-2030. Rockets and missiles are advanced propulsion systems designed for controlled and directed flight. A rocket is a vehicle or projectile that uses thrust generated by expelled gases to propel itself forward. They find extensive applications in space exploration, satellite launches, and military use. Missiles, on the other hand, refer to guided rockets or projectiles that are designed for a specific purpose, often with the capability to change direction in flight. Missiles are categorized based on their guidance systems, such as guided, unguided, or semi-guided. They serve various purposes, including defense, offence, and exploration. Military missiles, for instance, can be surface-to-air, air-to-air, surface-to-surface, or anti-ship missiles, each tailored to specific tactical requirements. The Rocket and Missile Market is expanding because of factors such as rising military expenditure, the development of hybrid rockets & missiles as well as the rising development of indigenous missile defense systems.

The escalation in military expenditures across the globe is serving as a key driver for the growth of the Rockets and Missiles Market. As nations allocate larger budgets to enhance their defense capabilities, the demand for cutting-edge and technologically advanced weapon systems, particularly rockets and missiles, has witnessed a substantial surge. The increased funding allows for the development, acquisition, and deployment of more sophisticated missile defense systems, strategic missile programs, and precision-guided munitions. As per the Stockholm International Peace Research Institute (SIPRI), there was a 2.6% increase in global military spending, reaching around USD 1.82 trillion between 2017 and 2019 which rose by 3.7% in real terms in 2022, to reach a record high of USD 2.24 trillion. In addition, the miniaturization of missiles and their components and the rising adoption of AI in military operations are creating new opportunities for market growth. However, stringent regulations for arms transfer, high operational complexity, and the need for periodic maintenance stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Rocket and Missile Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022. The growth of the Rockets And Missiles Market in the region is propelled by the rising adoption of fiber optic guidance systems by the U.S. Army and several other nations, coupled with substantial investments in military modernization programs by the U.S. and Canada. In North America, significant market share is held by key manufacturers such as Lockheed Martin Corporation, General Dynamics Corporation, and Raytheon Technologies Corporation. This robust presence is anticipated to reinforce the region’s dominance in the rocket and missile industry, further solidifying its position in the global market. Asia Pacific is expected to grow at the fastest rate over the forecast period owing to the increasing military and defense budget, rising procurement and development of new missiles and rockets in the region.

Major market player included in this report are:
Kongsberg Gruppen
Saab AB
BAE Systems plc
Northrop Grumman Corporation
Lockheed Martin Corporation
The Boeing Company
Raytheon Technologies Corporation
Thales Group
Elbit Systems Ltd
Israel Aerospace Industries Ltd

Recent Developments in the Market:
Ø In May 2023, The U.S. Army has awarded the Javelin Joint Venture (JJV) an indefinite-delivery, indefinite-quantity (IDIQ) production contract, spanning fiscal years 2023 to 2026, with a maximum contract value of USD 7.20 billion. This comprehensive agreement covers the Javelin weapon system, including related equipment and services. The contract begins with a base year, allocated with up to USD 1.02 billion in approved funding. It incorporates provisions for production ramp support, to increase Javelin All Up Round (AUR) production to 3,960 units annually by the end of 2026.
Global Rocket and Missile Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Speed, Product, Guidance, Platform, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Speed:

By Product:
Cruise Missiles
Ballistic Missiles

By Guidance:

By Platform:

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Rocket and Missile Market, by Region, 2020-2030 (USD Billion)
1.2.2. Rocket and Missile Market, by Speed, 2020-2030 (USD Billion)
1.2.3. Rocket and Missile Market, by Product, 2020-2030 (USD Billion)
1.2.4. Rocket and Missile Market, by Guidance, 2020-2030 (USD Billion)
1.2.5. Rocket and Missile Market, by Platform, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Rocket and Missile Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Rocket and Missile Market Dynamics
3.1. Rocket and Missile Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising military expenditures Development of hybrid rockets & missiles Rising development of indigenous missile defense systems
3.1.2. Market Challenges Stringent regulations for arms transfer High operational complexity and need for periodic maintenance
3.1.3. Market Opportunities Miniaturization of missiles and their components Rising adoption of AI in military operations
Chapter 4. Global Rocket and Missile Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Rocket and Missile Market, by Speed
5.1. Market Snapshot
5.2. Global Rocket and Missile Market by Speed, Performance – Potential Analysis
5.3. Global Rocket and Missile Market Estimates & Forecasts by Speed 2020-2030 (USD Billion)
5.4. Rocket and Missile Market, Sub Segment Analysis
5.4.1. Subsonic
5.4.2. Supersonic
5.4.3. Hypersonic
Chapter 6. Global Rocket and Missile Market, by Product
6.1. Market Snapshot
6.2. Global Rocket and Missile Market by Product, Performance – Potential Analysis
6.3. Global Rocket and Missile Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
6.4. Rocket and Missile Market, Sub Segment Analysis
6.4.1. Cruise Missiles
6.4.2. Ballistic Missiles
6.4.3. Rockets
6.4.4. Torpedoes
Chapter 7. Global Rocket and Missile Market, by Guidance
7.1. Market Snapshot
7.2. Global Rocket and Missile Market by Guidance, Performance – Potential Analysis
7.3. Global Rocket and Missile Market Estimates & Forecasts by Guidance 2020-2030 (USD Billion)
7.4. Rocket and Missile Market, Sub Segment Analysis
7.4.1. Guided
7.4.2. Unguided
Chapter 8. Global Rocket and Missile Market, by Platform
8.1. Market Snapshot
8.2. Global Rocket and Missile Market by Platform, Performance – Potential Analysis
8.3. Global Rocket and Missile Market Estimates & Forecasts by Platform 2020-2030 (USD Billion)
8.4. Rocket and Missile Market, Sub Segment Analysis
8.4.1. Naval
8.4.2. Ground
8.4.3. Airborne
Chapter 9. Global Rocket and Missile Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Rocket and Missile Market, Regional Market Snapshot
9.4. North America Rocket and Missile Market
9.4.1. U.S. Rocket and Missile Market Speed breakdown estimates & forecasts, 2020-2030 Product breakdown estimates & forecasts, 2020-2030 Guidance breakdown estimates & forecasts, 2020-2030 Platform breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Rocket and Missile Market
9.5. Europe Rocket and Missile Market Snapshot
9.5.1. U.K. Rocket and Missile Market
9.5.2. Germany Rocket and Missile Market
9.5.3. France Rocket and Missile Market
9.5.4. Spain Rocket and Missile Market
9.5.5. Italy Rocket and Missile Market
9.5.6. Rest of Europe Rocket and Missile Market
9.6. Asia-Pacific Rocket and Missile Market Snapshot
9.6.1. China Rocket and Missile Market
9.6.2. India Rocket and Missile Market
9.6.3. Japan Rocket and Missile Market
9.6.4. Australia Rocket and Missile Market
9.6.5. South Korea Rocket and Missile Market
9.6.6. Rest of Asia Pacific Rocket and Missile Market
9.7. Latin America Rocket and Missile Market Snapshot
9.7.1. Brazil Rocket and Missile Market
9.7.2. Mexico Rocket and Missile Market
9.8. Middle East & Africa Rocket and Missile Market
9.8.1. Saudi Arabia Rocket and Missile Market
9.8.2. South Africa Rocket and Missile Market
9.8.3. Rest of Middle East & Africa Rocket and Missile Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. Kongsberg Gruppen Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.3.2. Saab AB
10.3.3. BAE Systems plc
10.3.4. Northrop Grumman Corporation
10.3.5. Lockheed Martin Corporation
10.3.6. The Boeing Company
10.3.7. Raytheon Technologies Corporation
10.3.8. Thales Group
10.3.9. Elbit Systems Ltd
10.3.10. Israel Aerospace Industries Ltd
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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