Dublin, April 17, 2025 (GLOBE NEWSWIRE) — The “Rocket and Missile Market by Product (Missiles, Rocket Artilleries, Torpedoes), Speed (Subsonic, Supersonic, Hypersonic), Propulsion Type (Solid, Liquid, Hybrid, Ramjet, Turbojet), Launch Mode, Guidance Mechanism and Region – Global Forecast to 2029” has been added to ResearchAndMarkets.com’s offering.
The rocket and missile market is anticipated to expand significantly, expected to reach USD 85.22 billion by 2029 from USD 62.50 billion in 2024, achieving a CAGR of 6.4%.
Driving this growth are factors such as U.S. defense programs addressing global threats, increased demand due to ongoing conflicts, and rising defense budgets worldwide. The advancement of missile defense systems and changing warfare dynamics further propel the market forward. Nevertheless, this growth faces challenges from stringent arms transfer regulations, the need for regular maintenance due to operational complexities, and high development costs.
Propulsion Type Insights:
The solid propulsion segment is poised to dominate the market during the forecast period. Its leadership is attributed to solidity in functionality and storage convenience, which utilizes solid propellants for military applications including tactical and artillery rockets. The potential for modular designs facilitates maintenance and upgrades, while advancements in solid propellant chemistry enhance performance and extend shelf life.
Speed Segment Insights:
The hypersonic sector is expected to register the highest CAGR, propelling growth within the rocket and missile market. Hypersonic technology, characterized by speeds exceeding Mach 5, allows for rapid and precise targeting, often bypassing conventional missile defenses. This sector benefits from ongoing investments in overcoming technical challenges, expanding usage as technology becomes more cost-effective.
Efforts in improving scramjet engines, pioneering heat-resistant materials, and enhancing targeting systems have further cemented hypersonic rockets as pivotal to this market. Advances in computational modeling also support enhanced design and performance efforts.
Regional Market Insights:
North America is forecasted to maintain its lead through 2024, primarily driven by U.S. defense initiatives, which bolster contracts and technological advancements. The region’s prominence is backed by numerous key players, advancing the sector significantly.
Comprehensive interviews conducted with industry leaders include executives from top-tier companies, providing strategic insights into the market landscape. This study categorizes the market by various factors such as product type, speed, launch mode, propulsion type, and guidance mechanisms, encompassing detailed regional analysis.
The report delivers an exhaustive review of influential factors driving the market’s growth, encompassing increased U.S. defense measures against threats, rising missile and rocket demands amid active conflicts, and indigenous missile defense development. Additionally, emerging opportunities stem from AI integration in military operations, new-generation defense systems, and the advent of hybrid rocket and missiles.
Adding to the strategic industry analysis, the report features notable companies like Lockheed Martin Corporation, RTX, BAE Systems, Northrop Grumman, and Boeing among leading market players shaping the future of rocket and missile technology.
Benefits of this Report:
This resource aids both leaders and newcomers by offering an approximation of revenue numbers, allowing a better understanding of the entire ecosystem and assisting in crafting effective market strategies. It distills complex market dynamics into actionable insights, providing stakeholders with essential tools for navigating competitive landscapes and understanding core market drivers.
- Drivers include U.S. defense initiatives, increased conflict-area demands, and technological innovations.
- Restrains involve stringent international regulations, operational complexities, and high-cost barriers.
- Opportunities lie in technological advances and system miniaturization, enhancing defense capabilities.
- Challenges pivot on effectively integrating sprawling systems within existing defense frameworks.
- Key industry shifts, product innovations, and strategic developments are thoroughly analyzed
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 360 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $62.5 Billion |
| Forecasted Market Value (USD) by 2029 | $85.22 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
Key Topics Covered:
- Drivers
- Increasing Defense Programs in US for Security Against Threats
- Surge in Demand for Missiles and Rockets due to Ongoing Conflicts
- Rising Global Defense Expenditure
- Indigenous Development of Missile Defense Systems
- Evolving Nature of Warfare
- Challenges
- Stringent Regulations for Arms Transfer
- Operational Complexity and Need for Periodic Maintenance
- High Development Cost of Missile Systems
- Opportunities
- Miniaturization of Missile Systems and Components
- Rapid AI Integration in Military Operations
- Development of New-Generation Air and Missile Defense Systems
- Advent of Hybrid Rockets and Missiles
- Case Studies
- IAF Tests Smaller Brahmos Missile Variant to Enhance Operational Capability
- US Modernizes Hypersonic Weapons to Maintain Competitive Edge
- US Expands Ground-based Missile Capabilities to Counter China in Indo-Pacific
- India Advances Hypersonic Missile Development with Scramjet Test
Company Profiles
- Lockheed Martin Corporation
- Rtx
- Bae Systems
- Northrop Grumman
- Boeing
- General Dynamics Corporation
- Israel Aerospace Industries
- Thales
- Lig Nex1
- Bharat Dynamics Limited
- Mbda
- Kongsberg
- Saab Ab
- Diehl Stiftung & Co. KG
- Hanwha Aerospace
- Fincantieri S.P.A.
- L3Harris Technologies, Inc.
- Teledyne Technologies Incorporated
- Elbit Systems Ltd.
- Rafael Advanced Defense Systems Ltd.
- Denel Dynamics
- Frontier Electronic Systems Corp.
- Arianegroup
- General Atomics
- Almaz-Antey
- Roketsan
- Brahmos Aerospace
For more information about this report visit https://www.researchandmarkets.com/r/aw2reg
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- Rocket and Missile Market
