Rocket And Missiles
Rocket and Missiles Market Forecasts to 2030 - Global Analysis By Product Type (Rockets and Other Missiles), Propulsion, Range, Launch Platform, Application, End User and By Geography
According to Stratistics MRC, the Global Rocket and Missiles Market is accounted for $62.5 billion in 2024 and is expected to reach $101.4 billion by 2030 growing at a CAGR of 8.4% during the forecast period. A rocket is a device or vehicle that generates thrust through controlled combustion, expelling gas at high speeds, and is used to propel itself into the air or space. It is often used for space exploration or launching payloads like satellites. A missile, on the other hand, is a guided weapon designed to carry and deliver a payload, typically explosive, to a specific target. Powered by rockets or jet engines, missiles are equipped with guidance systems that ensure precision and accuracy, making them a crucial tool in modern military operations.
According to the Stockholm International Peace Research Institute (SIPRI), global military expenditure rose by 2.6% to approximately USD 1.82 trillion from 2017 to 2019.
Market Dynamics:
Driver:
Rising defense budgets
The increasing defense budgets worldwide are driving the growth of the market, as nations invest heavily in advanced technologies for national security. Enhanced military capabilities, modernization of defense systems, and the demand for precision-guided munitions are key factors behind this trend. Governments prioritize strategic defense spending to strengthen deterrence and counter emerging threats, fueling the development and procurement of advanced rockets and missiles across global defense sectors.
Restraint:
Strict export controls and regulations
Strict export controls and regulations in the market can hinder technological innovation and global collaboration. These restrictions limit the flow of advanced materials, components, and expertise, increasing costs and delays for manufacturers. Countries facing these controls may struggle to modernize their defense systems, while businesses may lose access to international markets. This can lead to a reduction in competition, slowing progress and limiting the growth potential of the industry.
Opportunity:
Space exploration and commercial space industry
The growth of space exploration and the commercial space industry is significantly impacting the market. Increased investments by private companies, alongside government space programs, are driving demand for innovative rocket technologies. Commercial ventures, such as satellite launches and space tourism, are expanding opportunities. This surge in space activities is accelerating advancements in rocket propulsion systems and missile technology, fostering a dynamic market for both military and commercial applications.
Threat:
Ethical considerations
Ethical considerations in the market can hinder the development and deployment of advanced technologies. Concerns about weapon proliferation, civilian casualties, and environmental damage may lead to increased scrutiny and regulations, slowing innovation. These considerations can result in delays in projects, higher compliance costs, and public opposition, limiting the market's potential. Striking a balance between military needs and ethical responsibility is a complex challenge for the industry.
Covid-19 Impact:
The COVID-19 pandemic disrupted the market by causing delays in production, testing, and supply chain operations. Lockdowns and restrictions hindered manufacturing processes, while budget reallocations in many countries focused on healthcare, leading to reduced defense spending. Additionally, international collaborations and trade were affected, slowing the development of new technologies. However, the pandemic also highlighted the importance of defense readiness, potentially increasing future investment in the sector.
The land-based segment is expected to be the largest during the forecast period
The segment is expected to account for the largest market share during the projection period. These systems include surface-to-air, surface-to-surface, and anti-tank missiles, designed for both tactical and strategic military operations. Key drivers of market growth include increasing defense spending, technological advancements in missile accuracy, range, and payload, as well as rising security concerns and geopolitical tensions. Major players are continually innovating to meet evolving military needs and ensure operational superiority.
The space tourism segment is expected to have the highest CAGR during the forecast period
The space tourism segment is expected to have the highest CAGR during the extrapolated period. Suborbital and orbital flights are becoming a reality, offering unique experiences of weightlessness and breathtaking views of Earth. As technology evolves, the cost of space tourism is expected to decrease, broadening the market to more consumers. This growing sector is creating new opportunities not only for tourism but also for commercial space exploration and research, driving innovation in aerospace technologies.
Region with largest share:
North America region is estimated to account for the largest market share during the forecast period driven. The U.S. dominates the market, with major defense contractors focusing on missile defense systems, hypersonic weapons, and space exploration technologies. Investment in modernization and research is intensifying, supporting both military and commercial aerospace sectors. This market expansion is further fueled by demand for advanced, precise, and cost-effective missile solutions.
Region with highest CAGR:
Asia Pacific is expected to register the highest growth rate over the forecast period due to increasing defense budgets and growing concerns over regional security. The adoption of cutting-edge technologies like artificial intelligence, machine learning, and autonomous systems is transforming the missile and rocket landscape. Advanced missile systems such as air defense systems, anti-ship missiles, and tactical and strategic rockets are being developed and deployed across the region.
Key players in the market
Some of the key players in Rocket and Missiles market include Lockheed Martin Corporation, Northrop Grumman, BAE Systems, Thales Group, General Dynamics, Airbus Defence and Space, Saab AB, India’s Defence Research and Development Organisation (DRDO), SpaceX, United Launch Alliance (ULA), Raytheon Missiles & Defense, General Electric, L3Harris Technologies, Israel Aerospace Industries (IAI), Leonardo S.p.A. and Mitsubishi Heavy Industries.
Key Developments:
In December 2024, Lockheed Martin is set to finalize deliveries for the first contract of its Precision Strike Missile (PrSM) by December. The PrSM significantly enhances the capabilities of systems like HIMARS and MLRS, boasting a range of 499 km, which is a substantial improvement over previous munitions.
In January 2024, Lockheed Martin introduced a mobile rocket launcher concept at the US Army's Human-Machine Integration Summit. This launcher can carry up to 24 guided artillery rockets and is designed for integration with Marine Corps vehicles, supporting various munitions including ATACMS and PrSM missiles.
Product Types Covered:
• Rockets
• Missiles
Propulsions Covered:
• Solid
• Liquid
• Hybrid
Ranges Covered:
• Short-Range
• Medium-Range
• Long-Range
Launch Platforms Covered:
• Land-Based
• Air-Based
• Sea-Based
• Space-Based
Applications Covered:
• Space Tourism
• Space Exploration
• Ballistic Missile Defense (BMD)
• Countermeasure Systems
• Search & Rescue
• Other Applications
End Users Covered:
• Government
• Military & Defense
• Civilian & Commercial
• Research & Development
• Missile Defense Systems
• Other End Users
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 2022, 2023, 2024, 2026, and 2030
- 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:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• 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 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 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 Rocket and Missiles Market, By Product Type
5.1 Introduction
5.2 Rockets
5.2.1 Space Rockets
5.2.2 Tactical Rockets
5.3 Missiles
5.3.1 Ballistic Missiles
5.3.2 Cruise Missiles
5.3.3 Anti-Aircraft Missiles
5.3.4 Anti-Ship Missiles
5.3.5 Anti-Tank Missiles
6 Global Rocket and Missiles Market, By Propulsion
6.1 Introduction
6.2 Solid
6.3 Liquid
6.4 Hybrid
7 Global Rocket and Missiles Market, By Range
7.1 Introduction
7.2 Short-Range
7.3 Medium-Range
7.4 Long-Range
8 Global Rocket and Missiles Market, By Launch Platform
8.1 Introduction
8.2 Land-Based
8.3 Air-Based
8.4 Sea-Based
8.5 Space-Based
9 Global Rocket and Missiles Market, By Application
9.1 Introduction
9.2 Space Tourism
9.3 Space Exploration
9.4 Ballistic Missile Defense (BMD)
9.5 Countermeasure Systems
9.6 Search & Rescue
9.7 Other Applications
10 Global Rocket and Missiles Market, By End User
10.1 Introduction
10.2 Government
10.3 Military & Defense
10.4 Civilian & Commercial
10.5 Research & Development
10.6 Missile Defense Systems
10.7 Other End Users
11 Global Rocket and Missiles Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Lockheed Martin Corporation
13.2 Northrop Grumman
13.3 BAE Systems
13.4 Thales Group
13.5 General Dynamics
13.6 Airbus Defence and Space
13.7 Saab AB
13.8 India’s Defence Research and Development Organisation (DRDO)
13.9 SpaceX
13.10 United Launch Alliance (ULA)
13.11 Raytheon Missiles & Defense
13.12 General Electric
13.13 L3Harris Technologies
13.14 Israel Aerospace Industries (IAI)
13.15 Leonardo S.p.A.
13.16 Mitsubishi Heavy Industries
List of Tables
1 Global Rocket and Missiles Market Outlook, By Region (2022-2030) ($MN)
2 Global Rocket and Missiles Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Rocket and Missiles Market Outlook, By Rockets (2022-2030) ($MN)
4 Global Rocket and Missiles Market Outlook, By Space Rockets (2022-2030) ($MN)
5 Global Rocket and Missiles Market Outlook, By Tactical Rockets (2022-2030) ($MN)
6 Global Rocket and Missiles Market Outlook, By Missiles (2022-2030) ($MN)
7 Global Rocket and Missiles Market Outlook, By Ballistic Missiles (2022-2030) ($MN)
8 Global Rocket and Missiles Market Outlook, By Cruise Missiles (2022-2030) ($MN)
9 Global Rocket and Missiles Market Outlook, By Anti-Aircraft Missiles (2022-2030) ($MN)
10 Global Rocket and Missiles Market Outlook, By Anti-Ship Missiles (2022-2030) ($MN)
11 Global Rocket and Missiles Market Outlook, By Anti-Tank Missiles (2022-2030) ($MN)
12 Global Rocket and Missiles Market Outlook, By Propulsion (2022-2030) ($MN)
13 Global Rocket and Missiles Market Outlook, By Solid (2022-2030) ($MN)
14 Global Rocket and Missiles Market Outlook, By Liquid (2022-2030) ($MN)
15 Global Rocket and Missiles Market Outlook, By Hybrid (2022-2030) ($MN)
16 Global Rocket and Missiles Market Outlook, By Range (2022-2030) ($MN)
17 Global Rocket and Missiles Market Outlook, By Short-Range (2022-2030) ($MN)
18 Global Rocket and Missiles Market Outlook, By Medium-Range (2022-2030) ($MN)
19 Global Rocket and Missiles Market Outlook, By Long-Range (2022-2030) ($MN)
20 Global Rocket and Missiles Market Outlook, By Launch Platform (2022-2030) ($MN)
21 Global Rocket and Missiles Market Outlook, By Land-Based (2022-2030) ($MN)
22 Global Rocket and Missiles Market Outlook, By Air-Based (2022-2030) ($MN)
23 Global Rocket and Missiles Market Outlook, By Sea-Based (2022-2030) ($MN)
24 Global Rocket and Missiles Market Outlook, By Space-Based (2022-2030) ($MN)
25 Global Rocket and Missiles Market Outlook, By Application (2022-2030) ($MN)
26 Global Rocket and Missiles Market Outlook, By Space Tourism (2022-2030) ($MN)
27 Global Rocket and Missiles Market Outlook, By Space Exploration (2022-2030) ($MN)
28 Global Rocket and Missiles Market Outlook, By Ballistic Missile Defense (BMD) (2022-2030) ($MN)
29 Global Rocket and Missiles Market Outlook, By Countermeasure Systems (2022-2030) ($MN)
30 Global Rocket and Missiles Market Outlook, By Search & Rescue (2022-2030) ($MN)
31 Global Rocket and Missiles Market Outlook, By Other Applications (2022-2030) ($MN)
32 Global Rocket and Missiles Market Outlook, By End User (2022-2030) ($MN)
33 Global Rocket and Missiles Market Outlook, By Government (2022-2030) ($MN)
34 Global Rocket and Missiles Market Outlook, By Military & Defense (2022-2030) ($MN)
35 Global Rocket and Missiles Market Outlook, By Civilian & Commercial (2022-2030) ($MN)
36 Global Rocket and Missiles Market Outlook, By Research & Development (2022-2030) ($MN)
37 Global Rocket and Missiles Market Outlook, By Missile Defense Systems (2022-2030) ($MN)
38 Global Rocket and Missiles Market Outlook, By Other End Users (2022-2030) ($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
- SWOT Analysis
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:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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