Missile Propulsion Systems Market
Missile Propulsion Systems Market Forecasts to 2032 – Global Analysis By Propulsion Type (Solid Propulsion, Liquid Propulsion, Hybrid Propulsion, Ramjet/Scramjet, and Cryogenic Propulsion), Missile Type, Range, Launch Platform, Component, and By Geography
According to Stratistics MRC, the Global Missile Propulsion Systems Market is accounted for $5.25 billion in 2025 and is expected to reach $9.92 billion by 2032 growing at a CAGR of 9.5% during the forecast period. Missile propulsion systems refer to advanced mechanisms that provide the thrust necessary to drive missiles through the atmosphere or into space toward designated targets. They encompass solid propellants, liquid-fueled engines, ramjets, and scramjets, selected according to desired speed and distance. These systems transform chemical or kinetic energy into motion, enabling missiles to achieve accurate trajectories, rapid acceleration, and dependable performance, making them essential components in modern aerospace and defence technologies.
According to the Stockholm International Peace Research Institute (SIPRI), military expenditure increased 9.4% globally from 2023-2024, to USD 2,718 billion.
Market Dynamics:
Driver:
Rising demand for long-range missiles
The escalating need for long-range missile capabilities is reshaping defense strategies across global powers. Nations are investing heavily in extended-range systems to enhance deterrence and strategic reach. Advancements in propulsion technologies are enabling missiles to travel farther with improved fuel efficiency and payload capacity. Emerging threats and evolving combat doctrines are accelerating procurement of intercontinental and hypersonic platforms. Integration of satellite-based targeting and real-time telemetry is further boosting operational effectiveness. As geopolitical tensions rise, long-range missile programs are becoming central to national security modernization efforts.
Restraint:
Limited availability of specialized materials
The missile propulsion sector faces constraints due to the scarcity of high-performance materials required for thermal resistance and structural integrity. Components such as advanced composites, rare earth alloys, and heat-resistant ceramics are difficult to source and manufacture at scale. Stringent defense-grade specifications and testing protocols add complexity to material qualification. Smaller suppliers struggle with production consistency and compliance, slowing innovation cycles. The integration of smart electronics and AI into propulsion systems also demands specialized shielding and insulation materials. These limitations can delay deployment timelines and increase program costs.
Opportunity:
Integration of AI and smart guidance systems
AI-driven guidance algorithms are enhancing target acquisition, trajectory correction, and fuel optimization in real time. Smart propulsion modules are being developed to dynamically adjust thrust based on mission parameters and environmental conditions. Emerging trends include autonomous swarm coordination and predictive maintenance for propulsion units. Defense agencies are prioritizing AI-enabled systems to counter agile threats and reduce human error. This convergence of software intelligence and hardware innovation is redefining missile performance benchmarks.
Threat:
Cybersecurity risks in missile systems
As missile systems become increasingly digitized, they are exposed to sophisticated cyber threats targeting command, control, and propulsion subsystems. Vulnerabilities in embedded software, communication links, and sensor networks can be exploited to disrupt mission execution. Adversaries are investing in electronic warfare and cyber intrusion tools to compromise missile reliability. The adoption of cloud-based simulation and remote diagnostics adds further risk vectors. Without robust encryption and intrusion detection protocols, propulsion systems may be susceptible to sabotage or data manipulation.
Covid-19 Impact
The pandemic disrupted global defense supply chains, delaying missile production and testing schedules. Lockdowns affected manufacturing of propulsion components and restricted access to specialized facilities. However, the crisis accelerated digital transformation, with remote simulation and virtual testing gaining traction. Strategic stockpiling and decentralized manufacturing are emerging as post-pandemic resilience strategies. The industry is now recalibrating toward flexible production ecosystems and digital twin technologies for propulsion system development.
The solid propulsion segment is expected to be the largest during the forecast period
The solid propulsion segment is expected to account for the largest market share during the forecast period, due to its reliability, cost-efficiency, and ease of storage. These systems are widely used in tactical and strategic missiles owing to their rapid launch readiness and minimal maintenance requirements. Technological advancements in composite propellants and nozzle design are enhancing thrust performance and burn stability. Defence programs are increasingly favouring solid propulsion for short- and medium-range applications. Modular solid boosters are also being integrated into hybrid configurations for multi-stage launch systems.
The space-enabled segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the space-enabled segment is predicted to witness the highest growth rate, driven by rising satellite launch demand and space militarization. Innovations in electric and ion propulsion are enabling longer missions with reduced fuel consumption. Defence agencies are investing in orbital maneuvering systems and reusable launch vehicles powered by advanced propulsion modules. The segment benefits from cross-sector collaboration with aerospace and commercial spaceflight entities. Emerging trends include AI-assisted trajectory planning and autonomous in-space refuelling. As space becomes a contested domain, propulsion technologies tailored for orbital applications are gaining strategic importance.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market sharefuelled by rising defence budgets and indigenous missile development programs. Countries like China, India, and South Korea are investing in next-gen propulsion technologies and expanding domestic manufacturing capabilities. Regional tensions and border security concerns are driving demand for tactical and strategic missile systems. Governments are promoting self-reliance through technology transfer and joint ventures with global OEMs. The region is also witnessing rapid adoption of AI-guided and hypersonic platforms. Infrastructure upgrades and policy support are accelerating propulsion system deployment across military branches.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, underpinned by technological leadership and robust R&D investment. The U.S. and Canada are pioneering breakthroughs in scramjet, hybrid, and reusable propulsion systems. Defense agencies are streamlining acquisition processes to fast-track innovation and deployment. Integration of digital engineering, simulation platforms, and AI is optimizing propulsion design and lifecycle management. The region benefits from a mature defense ecosystem and strong collaboration between government labs and private contractors.
Key players in the market
Some of the key players profiled in the Missile Propulsion Systems Market include Lockheed Martin Corporation, Anduril Industries, Raytheon Technologies Corporation, Roxel, Northrop Grumman Corporation, IHI Corporation, MBDA Missile Systems, Hanwha Aerospace, Moog Inc., Boeing Company, AerojetRocketdyne Holdings, Inc., General Dynamics Corporation, Safran S.A., Rafael Advanced Defense Systems Ltd., and Thales Group.
Key Developments:
In September 2025, Boeing and Palantir announced at the annual Air, Space & Cyber Conference the two companies are working together to integrate artificial intelligence (AI) systems and software across Boeing Defense, Space & Security (BDS) factories and programs. BDS will leverage Palantir'sgroundbreaking Foundry platform, which leverages AI to unify complex and disparate systems under a streamlined and intuitive user interface.
In September 2025, Northrop Grumman Corporation has formed a team of in-country partners to deliver advanced radar capabilities to Taiwan. Ramatek Company, Champion Auto, and Vivian and Vincent International Trading Company Ltd. have signed memoranda of understanding with the company to bring the AN/TPS/78 Advanced Capabilities Radar to Taiwan.
Propulsion Types Covered:
• Solid Propulsion
• Liquid Propulsion
• Hybrid Propulsion
• Ramjet/Scramjet
• Cryogenic Propulsion
Missile Types Covered:
• Cruise Missiles
• Ballistic Missiles
Ranges Covered:
• Short Range
• Medium Range
• Intermediate Range
• Intercontinental Range
Launch Platforms Covered:
• Ground-Based
• Airborne
• Naval
• Space-Enabled
Components Covered:
• Propellant
• Nozzle
• Guidance and Control Electronics
• Turbo Pumps
• Combustion Chamber
• Other Components
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
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o Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Missile Propulsion Systems Market, By Propulsion Type
5.1 Introduction
5.2 Solid Propulsion
5.3 Liquid Propulsion
5.4 Hybrid Propulsion
5.5 Ramjet/Scramjet
5.6 Cryogenic Propulsion
6 Global Missile Propulsion Systems Market, By Missile Type
6.1 Introduction
6.2 Cruise Missiles
6.3 Ballistic Missiles
7 Global Missile Propulsion Systems Market, By Range
7.1 Introduction
7.2 Short Range
7.3 Medium Range
7.4 Intermediate Range
7.5 Intercontinental Range
8 Global Missile Propulsion Systems Market, By Launch Platform
8.1 Introduction
8.2 Ground-Based
8.3 Airborne
8.4 Naval
8.5 Space-Enabled
9 Global Missile Propulsion Systems Market, By Component
9.1 Introduction
9.2 Propellant
9.3 Nozzle
9.4 Guidance and Control Electronics
9.5 Turbo Pumps
9.6 Combustion Chamber
9.7 Other Components
10 Global Missile Propulsion Systems Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Lockheed Martin Corporation
12.2 Anduril Industries
12.3 Raytheon Technologies Corporation
12.4 Roxel
12.5 Northrop Grumman Corporation
12.6 IHI Corporation
12.7 MBDA Missile Systems
12.8 Hanwha Aerospace
12.9 Moog Inc.
12.10 Boeing Company
12.11 Aerojet Rocketdyne Holdings, Inc.
12.12 General Dynamics Corporation
12.13 Safran S.A.
12.14 Rafael Advanced Defense Systems Ltd.
12.15 Thales Group
List of Tables
1 Global Missile Propulsion Systems Market Outlook, By Region (2024-2032) ($MN)
2 Global Missile Propulsion Systems Market Outlook, By Propulsion Type (2024-2032) ($MN)
3 Global Missile Propulsion Systems Market Outlook, By Solid Propulsion (2024-2032) ($MN)
4 Global Missile Propulsion Systems Market Outlook, By Liquid Propulsion (2024-2032) ($MN)
5 Global Missile Propulsion Systems Market Outlook, By Hybrid Propulsion (2024-2032) ($MN)
6 Global Missile Propulsion Systems Market Outlook, By Ramjet/Scramjet (2024-2032) ($MN)
7 Global Missile Propulsion Systems Market Outlook, By Cryogenic Propulsion (2024-2032) ($MN)
8 Global Missile Propulsion Systems Market Outlook, By Missile Type (2024-2032) ($MN)
9 Global Missile Propulsion Systems Market Outlook, By Cruise Missiles (2024-2032) ($MN)
10 Global Missile Propulsion Systems Market Outlook, By Ballistic Missiles (2024-2032) ($MN)
11 Global Missile Propulsion Systems Market Outlook, By Range (2024-2032) ($MN)
12 Global Missile Propulsion Systems Market Outlook, By Short Range (2024-2032) ($MN)
13 Global Missile Propulsion Systems Market Outlook, By Medium Range (2024-2032) ($MN)
14 Global Missile Propulsion Systems Market Outlook, By Intermediate Range (2024-2032) ($MN)
15 Global Missile Propulsion Systems Market Outlook, By Intercontinental Range (2024-2032) ($MN)
16 Global Missile Propulsion Systems Market Outlook, By Launch Platform (2024-2032) ($MN)
17 Global Missile Propulsion Systems Market Outlook, By Ground-Based (2024-2032) ($MN)
18 Global Missile Propulsion Systems Market Outlook, By Airborne (2024-2032) ($MN)
19 Global Missile Propulsion Systems Market Outlook, By Naval (2024-2032) ($MN)
20 Global Missile Propulsion Systems Market Outlook, By Space-Enabled (2024-2032) ($MN)
21 Global Missile Propulsion Systems Market Outlook, By Component (2024-2032) ($MN)
22 Global Missile Propulsion Systems Market Outlook, By Propellant (2024-2032) ($MN)
23 Global Missile Propulsion Systems Market Outlook, By Nozzle (2024-2032) ($MN)
24 Global Missile Propulsion Systems Market Outlook, By Guidance and Control Electronics (2024-2032) ($MN)
25 Global Missile Propulsion Systems Market Outlook, By Turbo Pumps (2024-2032) ($MN)
26 Global Missile Propulsion Systems Market Outlook, By Combustion Chamber (2024-2032) ($MN)
27 Global Missile Propulsion Systems Market Outlook, By Other Components (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
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The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
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