Global Rocket And Missiles Market Outlook, 2029

The Global Rocket and Missiles market is projected to exceed USD 70 Billion by 2029, driven by advancements in aerospace technology.

The Rockets & Missiles market has evolved significantly since the mid-20th century, driven by military advancements and geopolitical dynamics. Initially developed during World War II, rockets and missiles quickly became integral to defense strategies worldwide, with innovations such as intercontinental ballistic missiles (ICBMs) and cruise missiles shaping global military capabilities. The Cold War era saw intense competition between the United States and the Soviet Union, spurring rapid technological advancements in missile systems. Today, the market is characterized by a competitive landscape dominated by major defense contractors such as Lockheed Martin, Raytheon Technologies, Northrop Grumman, and BAE Systems. These companies leverage extensive research and development capabilities to produce advanced missile systems for various applications, including air defense, precision strikes, and space exploration. Emerging players and nations, particularly in Asia-Pacific, are also contributing to the market with indigenous missile development programs aimed at enhancing regional security and technological sovereignty. Geopolitical tensions and evolving threats continue to drive innovation and investment in this dynamic sector. According to the research report, “Global Rocket and Missiles Market Outlook, 2029” published by Bonafide Research, the market is anticipated to cross USD 70 Billion by 2029. The Rocket and Missiles Market refers to the Global Market for rocket systems and guided missiles used in various applications, including defence, space exploration, and commercial sectors. Rockets and missiles are sophisticated weapons that provide long-range strike capabilities, strategic deterrence, and precision targeting. They play a vital role in modern warfare, space missions, and scientific research. The rocket and missiles market is expected to witness significant growth in the coming years, driven by increasing defence spending, geopolitical tensions, technological advancements, and space exploration initiatives. Guided missiles segment is projected to dominate the market, owing to their precision strike capabilities, long-range engagements, and versatility in various mission scenarios. The market for hypersonic missiles is expected to witness substantial growth, driven by the need for advanced, fast-response weapons systems that can overcome advanced air defences. Increasing demand for miniaturized missiles and rockets for special operations, unmanned platforms, and portable systems is expected to drive market growth. Space exploration and commercial satellite launches are anticipated to contribute to the market's growth, with increased demand for reliable launch vehicles and satellite deployment systems.

What's Inside a Bonafide Research`s industry report?

Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

Download Sample

Market Trends Miniaturization and Precision: The market is witnessing a trend towards the miniaturization of rockets and missiles to enhance portability, operational flexibility, and precision strike capabilities. Miniaturized missiles and rockets offer advantages such as reduced size, weight, and cost while maintaining high accuracy and lethality. • Hypersonic Missiles: There is a growing focus on hypersonic missile technology, which enables missiles to travel at speeds exceeding Mach 5. Hypersonic missiles offer increased manoeuvrability, reduced response time, and the ability to penetrate advanced air defence systems, making them a significant area of development in the market. • Multi-Role Rockets and Missiles : There is an increasing demand for multi-role rockets and missiles that can perform various functions, such as anti-ship, anti-aircraft, anti-tank, and surface-to-surface missions. The development of versatile and adaptable missile systems provides cost-effective solutions and operational flexibility. Market Opportunities

Make this report your own

Have queries/questions regarding a report?

Take advantage of intelligence tailored to your business objective

Manmayi Raval

Manmayi Raval

Research Consultant

Defence Modernization Programs: Many countries are investing in the modernization of their defence forces, including the procurement of advanced rocket and missile systems. Defence modernization initiatives create opportunities for manufacturers to supply state-of-the-art rockets and missiles that enhance military capabilities and ensure strategic deterrence. • Space Exploration and Commercial Satellite Launches : The growing interest in space exploration, satellite deployment, and commercial space launches presents opportunities in the rocket and missiles market. The demand for reliable launch vehicles and satellite deployment systems for scientific research, telecommunications, Earth observation, and other commercial applications continues to rise. • Counterterrorism and Border Security: The increasing focus on counterterrorism efforts and border security drives the demand for rockets and missiles with capabilities for precision strikes, long-range engagements, and effective border surveillance. These systems aid in neutralizing threats, defending borders, and maintaining national security. Market Threats Stringent Export Control Regulations : The rocket and missiles market faces challenges due to stringent export control regulations imposed by various countries to prevent the proliferation of advanced missile technology. These regulations restrict the transfer of critical technologies, components, and systems, limiting market access and international collaboration. • Budget Constraints: Economic constraints and budget limitations in some countries can pose challenges to the growth of the rocket and missiles market. Defence budget cuts and prioritization of other military capabilities may impact the procurement of rockets and missiles, leading to delayed or reduced orders.

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now
Manmayi Raval

Based on the report, the Speed segment segmented into Subsonic, supersonic, hypersonic. Hypersonic segment is leading in the Rockets & Missile Market due to it’s capability to travel at speeds exceeding Mach 5, which enables rapid target engagement and enhanced maneuverability. These advanced speeds offer significant strategic advantages in both offensive and defensive military applications, driving increased investment and development efforts globally. The hypersonic sub-segment is leading in the Rockets and Missile Market's speed segment due to its transformative impact on modern warfare and defense strategies. Hypersonic missiles, capable of traveling at speeds exceeding Mach 5 (approximately 3,800 miles per hour), offer significant advantages over traditional ballistic and cruise missiles. Their unparalleled speed and maneuverability make them extremely difficult to detect and intercept, enhancing their effectiveness in penetrating advanced defense systems. This capability is particularly crucial in the context of growing global security threats and the need for nations to maintain strategic military superiority. The development and deployment of hypersonic missiles are driven by major defense players like the United States, Russia, and China, all of which are heavily investing in hypersonic technology to gain a competitive edge. These missiles can be used for a variety of missions, including precision strikes against high-value targets, anti-ship roles, and strategic deterrence, adding to their versatility and appeal. The emphasis on hypersonic technology is also fueled by advancements in materials science, propulsion systems, and aerodynamics, enabling the creation of more efficient and effective hypersonic weapons. Moreover, the pursuit of hypersonic capabilities aligns with broader defense modernization programs, where nations aim to upgrade their arsenals with next-generation technologies. As geopolitical tensions rise and the threat landscape evolves, the demand for hypersonic missiles is accelerating, prompting increased research, development, and procurement activities in this sub-segment. Based on the report, the Product segment segmented Cruise, ballistic, rockets, torpedoes. Cruise segment is leading in the Rockets & Missile Market due to its versatility and precision. Cruise missiles offer long-range capabilities with high accuracy, making them ideal for precise strikes on specific targets. They are favoured for their ability to evade detection and interception through terrain following and guidance systems, enhancing their effectiveness in modern warfare scenarios. The Cruise Missile segment is often noted for its leading position due to several key factors. Cruise missiles are highly versatile and capable of delivering precision strikes with pinpoint accuracy over long distances. Unlike ballistic missiles, cruise missiles are powered throughout their flight and can navigate around obstacles, making them ideal for striking specific targets with minimal collateral damage. This precision is crucial in modern warfare scenarios where minimizing civilian casualties and infrastructure damage is paramount. Furthermore, cruise missiles offer significant tactical advantages in both offensive and defensive operations. They can be launched from various platforms including ships, submarines, aircraft, and ground-based launchers, providing flexibility in deployment across different domains of warfare. Their ability to carry conventional or nuclear warheads adds to their strategic value, making them effective deterrents and force multipliers for nations possessing them. Technological advancements have also contributed to the dominance of cruise missiles in the market. Improvements in guidance systems, propulsion technologies, and stealth capabilities have enhanced their accuracy, range, and survivability, making them increasingly difficult to intercept by enemy air defenses. This technological edge has further bolstered their attractiveness to military forces seeking reliable and effective long-range strike capabilities. North America is leading the Rockets & Missile Market due to significant defense spending, advanced technology development, and strong aerospace infrastructure. Meanwhile, the Asia-Pacific (APAC) region is the fastest growing market, driven by increasing defense budgets, regional security tensions, and rapid technological advancements. North America's leadership in the Rockets and Missiles Market is primarily driven by the United States' substantial investments in defense and space exploration. The U.S. government allocates significant portions of its budget to defense spending, supporting the development and procurement of advanced missile systems and rocket technologies. Major defense contractors such as Lockheed Martin, Raytheon, and Northrop Grumman, which are based in North America, play a crucial role in maintaining this dominance by continually innovating and delivering cutting-edge systems to the U.S. military and its allies. Additionally, NASA's robust space exploration initiatives further bolster the region's market leadership, fostering advancements in rocket technologies. The strategic geopolitical positioning of the U.S., coupled with its need to maintain technological superiority in defense capabilities, ensures continued investment and leadership in this market. In contrast, the Asia-Pacific (APAC) region is the fastest-growing market for rockets and missiles, driven by escalating geopolitical tensions, rising defense budgets, and rapid technological advancements. Countries such as China, India, Japan, and South Korea are significantly increasing their defense expenditures to enhance their military capabilities amidst regional security challenges. China, in particular, is investing heavily in both its missile programs and space capabilities, aiming to rival the technological prowess of the U.S. and assert its dominance in the region. Whereas, India's focus on modernizing its military arsenal and expanding its space program, exemplified by initiatives like the Indian Space Research Organization (ISRO), also contributes to the region's rapid growth. Additionally, regional conflicts and the need for advanced defense systems to protect national interests drive the demand for state-of-the-art rockets and missiles. The involvement of local defense manufacturers, supported by government initiatives and partnerships with global defense firms, further accelerates the market's growth in APAC. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Rockets & Missile Market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Speed • Subsonic • Supersonic • Hypersonic By Product • Cruise • Ballistic • Rockets • Torpedoes By Propulsion • Solid • Liquid • Hybrid • Ramjet • Turbojet • Scramjet The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Rockets & Missile industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

Request Table of Contents

First Name

Last Name

Company Name

Job Title

Business Email

Contact Number

Description
Logo

Global Rocket And Missiles Market Outlook, 2029

Contact usWe are friendly and approachable, give us a call.