Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 98.23 Billion

CAGR (2024-2029)

6.45%

Fastest Growing Segment

Supersonic

Largest Market

North America

Market Size (2029)

USD 142.73 Billion





Market Overview

The Global Rocket and Missiles Market size reached USD 98.23 billion in 2023 and is expected to grow with a CAGR of 6.45% in the forecast period 2029.The global rocket and missiles market is an essential segment of the defense and aerospace industry, characterized by its significant role in national security, space exploration, and strategic deterrence. Rockets and missiles are advanced weaponry systems used by military forces worldwide for offensive and defensive operations. They range from short-range tactical missiles to long-range intercontinental ballistic missiles (ICBMs) and space launch vehicles. These systems are developed and deployed to deliver precision strikes, intercept threats, and launch satellites or other payloads into space. The market is driven by continuous advancements in technology, including propulsion systems, guidance systems, and warhead capabilities, which enhance the effectiveness and reliability of these complex systems.

The demand for rockets and missiles is fueled by geopolitical tensions, military modernization programs, and the need for advanced defense systems to counter evolving threats. Nations invest heavily in these technologies to maintain a strategic edge and ensure their defense capabilities are up to date with current and future threats. Innovations such as hypersonic missiles, which can travel at speeds exceeding five times the speed of sound, and anti-missile defense systems are at the forefront of market growth. The development of these advanced systems involves significant research and development efforts, often in collaboration with international allies and defense contractors, to achieve technological superiority and operational readiness.

Furthermore, the rocket and missiles market is influenced by the increasing importance of space as a strategic domain. The deployment of satellites for communication, navigation, and surveillance purposes has become a critical component of national security strategies. Space launch vehicles, which are essentially rockets designed to deliver payloads into orbit, are a vital part of this domain. As the space race intensifies, both governmental and commercial entities are investing in advanced rocket technologies to enhance their capabilities in space exploration, satellite deployment, and even potential space-based defense systems. This dual-use nature of rocket technology for both defense and space exploration purposes drives continuous innovation and substantial investment in the global rocket and missiles market.

Key Market Drivers

Geopolitical Tensions and Conflicts

Heightened global and regional tensions are significant drivers of the rocket and missiles market. In an increasingly uncertain geopolitical landscape, nations seek to bolster their defense capabilities, leading to investments in advanced missile systems for both defense and strategic deterrence.

Technological Advancements

Continuous innovations in missile technology are a driving force. These innovations encompass guidance systems, propulsion technology, and materials, resulting in missiles that offer enhanced accuracy, range, and versatility. The development of hypersonic and supersonic missiles is a prime example, allowing for rapid and unpredictable strikes.

International Defense Contracts and Alliances

Collaborative agreements between nations and established defense manufacturers significantly shape the market. These alliances facilitate the sharing of expertise and resources, leading to the cross-pollination of missile technology and contributing to market growth.

Strategic Deterrence

The need for effective strategic deterrence remains a critical driver. Countries invest in intercontinental ballistic missiles (ICBMs) and other long-range missiles to maintain a credible threat and to discourage potential adversaries from hostile actions.

Space Exploration

The demand for space launch vehicles is on the rise. Commercial satellite deployments, lunar exploration missions, and the emerging space tourism industry are driving the need for reliable and cost-effective space launch systems, influencing the market's expansion.

Regional Security Concerns

Regional security issues, such as territorial disputes, act as drivers for missile system development. Countries in volatile regions invest in a range of missile systems to secure their borders, protect their interests, and maintain military readiness.

Multi-Role Missiles

The development of multi-role missiles, capable of addressing diverse mission objectives, is a significant driver. These missiles can target land-based infrastructure, naval vessels, and aerial threats, enhancing their appeal to defense forces with varying operational needs.

Counter-Drone Capabilities

The proliferation of unmanned aerial systems, including drones, has created a demand for missile systems that can effectively counter these threats. The development of anti-drone missiles and anti-aircraft missiles to protect critical infrastructure and military assets is a notable driver.

In conclusion, the global rocket and missiles market is driven by an intricate interplay of factors, ranging from geopolitical tensions and technological advancements to international collaboration and the diversification of missile capabilities. These drivers influence the market's growth, its role in modern defense strategies, and its relevance in both conventional and emerging security challenges.


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Key Market Challenges

Strategic Arms Control Agreements

The presence of various international arms control agreements and treaties places limitations on the development and deployment of certain missile systems, particularly those with nuclear capabilities. Compliance with these agreements, such as the New START Treaty and the INF Treaty, can be a challenge for nations looking to modernize their missile arsenals.

Proliferation Concerns

The proliferation of missile technology to non-state actors and rogue nations is a significant challenge. The potential for missiles to fall into the wrong hands raises concerns about their use in acts of terrorism or regional destabilization, necessitating stringent export controls and monitoring.

Countermeasures and Missile Defense

The advancement of missile defense systems, including anti-ballistic missile systems and directed energy weapons, poses challenges for missile developers. These countermeasures require continuous innovation to maintain missile effectiveness, leading to a cycle of development and counter-development.

International Export Controls

Stringent international export controls, often driven by non-proliferation concerns, can hinder the global trade of missile systems. Export restrictions may limit market access for manufacturers and affect international collaboration on missile development.

Budget Constraints

Many countries face budget constraints that impact their ability to invest in advanced missile systems. The development and acquisition of rocket and missile technology are expensive endeavors, making it challenging for some nations to keep pace with technological advancements.

Rapid Technological Evolution

The fast-paced development of missile technology creates challenges in terms of obsolescence. Missile systems may become outdated quickly, requiring ongoing research and development to maintain operational readiness.

Complex Supply Chains

The global rocket and missiles market relies on complex and globalized supply chains. Challenges related to the security of these supply chains, including cyber threats, can disrupt production and impact the delivery of critical components.

Environmental Concerns

Rocket launches and missile testing have environmental implications, such as the release of pollutants and debris into the atmosphere. Addressing these concerns and ensuring that missile development and testing are conducted in an environmentally responsible manner are challenges for the industry.

In conclusion, the global rocket and missiles market faces multifaceted challenges, ranging from arms control agreements and proliferation concerns to budget constraints and technological evolution. Addressing these challenges requires careful consideration of international obligations, security, environmental responsibilities, and innovation in missile technology.

Key Market Trends

Hypersonic Missile Development

One of the most prominent trends is the development of hypersonic missiles, which travel at speeds exceeding Mach 5. Hypersonic technology enables missiles to bypass traditional defenses, making them highly sought after by military forces worldwide. The race to develop and deploy hypersonic missiles is intensifying, reshaping the strategic landscape.

Multi-Role Missiles

The trend toward multi-role missiles is gaining momentum. These missiles can engage a wide range of targets, including ground-based infrastructure, naval vessels, and aerial threats. The versatility of multi-role missiles is highly appealing to defense forces with diverse operational requirements.

Advanced Guidance Systems

Precision is paramount in missile technology. The integration of advanced guidance systems, including GPS, inertial navigation, and terminal homing, enhances accuracy and target selectivity. These systems are continually evolving to provide superior targeting capabilities.

Counter-Drone Missiles

The proliferation of unmanned aerial systems, including drones, has led to the development of dedicated counter-drone missiles. These missiles are designed to neutralize drone threats, addressing a growing concern in both military and civilian contexts.

Miniaturization and Swarming Technology

Smaller and more compact missiles are in demand for various applications, including drones and unmanned systems. Additionally, the concept of missile swarming, where multiple missiles cooperate to saturate enemy defenses, is gaining attention for its tactical advantages.

Space Launch Vehicles

The space industry is witnessing a surge in satellite deployment, lunar exploration missions, and the rise of space tourism. This trend drives the demand for reliable and cost-effective space launch vehicles. Rocket manufacturers are adapting to meet these evolving space-related needs.

Supersonic Missiles

Supersonic missiles that travel at speeds greater than the speed of sound are a growing trend. These missiles offer rapid response times, enhanced target penetration, and maneuverability. Advancements in propulsion systems, including scramjet engines, are contributing to their development.

Reduced Environmental Impact

Environmental concerns are influencing missile technology. Efforts are underway to make rocket launches and missile testing more environmentally responsible. These initiatives aim to minimize the release of pollutants and debris into the atmosphere.

These trends collectively illustrate the ongoing evolution and diversification of rocket and missile technology. They reflect the global focus on enhancing missile capabilities, precision, and versatility, while also addressing emerging security challenges in a rapidly changing world.

Segmental Insights

By Speed

The global rocket and missiles market, segmented by speed into subsonic, supersonic, and hypersonic categories, showcases a wide array of technological advancements and strategic applications. Subsonic missiles, which travel at speeds below the speed of sound (Mach 1), are primarily used for their precision in targeting and ability to navigate complex trajectories, making them effective for various tactical missions. These missiles often incorporate advanced guidance systems and stealth technologies to evade detection and enhance their strike capabilities. Supersonic missiles, traveling at speeds between Mach 1 and Mach 5, offer a balance of speed and accuracy, making them suitable for both offensive and defensive operations. They are designed to penetrate enemy defenses quickly and deliver payloads with high precision, utilizing sophisticated propulsion systems and aerodynamics to maintain stability and control at high velocities.

Hypersonic missiles, which travel at speeds exceeding Mach 5, represent the cutting edge of missile technology. These missiles are developed to achieve unparalleled speed and maneuverability, significantly reducing the response time available to adversaries. Hypersonic missiles are capable of evading traditional missile defense systems due to their speed and unpredictable flight paths, making them a critical component of modern military arsenals. The development of hypersonic technology involves advanced materials and propulsion systems, such as scramjet engines, which can withstand extreme temperatures and pressures encountered during hypersonic flight.

Each speed category within the rocket and missiles market serves distinct strategic and tactical purposes, driven by the need for enhanced precision, speed, and survivability in diverse operational scenarios. The continuous advancement and deployment of these missile systems are crucial for maintaining a technological edge in modern warfare and defense strategies. As nations strive to bolster their defense capabilities, investment in subsonic, supersonic, and hypersonic missile technologies remains a priority, fostering ongoing innovation and development in the global rocket and missiles.

                                                                                                                                         
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Regional Insights

The global rocket and missiles market, segmented by region into North America, Europe & CIS, Asia Pacific, South America, and the Middle East & Africa, reflects diverse military and strategic priorities driven by regional security dynamics and technological capabilities. In North America, the market is characterized by significant investments in advanced missile systems and defense technologies to address a wide range of threats. The focus on enhancing national security and maintaining global military presence drives the development and procurement of sophisticated rocket and missile systems. This region also emphasizes technological innovation, resulting in the advancement of hypersonic missiles, missile defense systems, and space launch capabilities, ensuring a robust and responsive defense infrastructure.

Europe & CIS see a strong emphasis on collaborative defense initiatives and modernization programs. The region prioritizes the development of missile systems that can enhance strategic autonomy and contribute to collective security frameworks such as NATO. European nations invest in both offensive and defensive missile technologies, including precision-guided munitions and integrated air and missile defense systems. In the CIS, countries focus on maintaining and upgrading their missile arsenals to counter regional threats and uphold their strategic deterrence capabilities. The interplay of historical defense strategies and modern technological advancements shapes the market dynamics in this region.

The Asia Pacific region experiences rapid growth in the rocket and missiles market due to increasing defense budgets and geopolitical tensions. Countries in this region are engaged in extensive missile development programs to bolster their defense capabilities and establish regional power balance. The emphasis on indigenous development of missile systems, combined with strategic partnerships and technological transfers, fuels the market. This region also focuses on expanding its space capabilities, with several countries advancing their space launch vehicle technologies for both civilian and military applications, contributing to the overall market growth.

South America presents a unique landscape where the rocket and missiles market is influenced by regional security concerns, economic conditions, and technological capabilities. Countries in this region invest in missile systems to address both internal security challenges and potential external threats. The market is driven by efforts to modernize military forces and enhance the operational readiness of their armed forces. While economic constraints may limit extensive investments, targeted procurements and collaborations with international defense partners play a crucial role in shaping the market.

In the Middle East & Africa, the rocket and missiles market is driven by ongoing conflicts, regional rivalries, and the need for robust defense capabilities. Nations in this region prioritize the acquisition of advanced missile systems to strengthen their military capabilities and protect critical infrastructure. The market is characterized by a mix of procurement from global defense suppliers and the development of indigenous missile technologies. The focus on missile defense systems is particularly prominent, reflecting the need to counter missile threats in a region marked by volatility and strategic competition.

Overall, the global rocket and missiles market exhibits distinct regional characteristics shaped by security needs, technological advancements, and geopolitical dynamics. Each region’s approach to missile development and procurement reflects its unique strategic priorities and defense objectives, driving continuous innovation and investment in this critical segment of the defense industry.

Recent Developments

  • In 2024, X-Bow announces plans to develop solid rocket motors specifically for U.S. Navy Standard missiles. This initiative aims to enhance the propulsion systems of these missiles for improved operational capabilities. The project signifies X-Bow's commitment to advancing military technology and supporting national defense initiatives. The development of solid rocket motors for Standard missiles underscores efforts to strengthen missile performance and reliability in naval operations. X-Bow's collaboration with the U.S. Navy highlights strategic partnerships in defense innovation. This endeavor is poised to elevate standards in missile propulsion technology for enhanced defense capabilities.
  • In 2024, Ursa Major Technologies has secured a contract with the US Navy to supply next-generation solid rocket motors for the Standard Missile program. This agreement underscores Ursa Major's role in advancing propulsion technology for defense applications. The solid rocket motors are expected to enhance the performance and reliability of the Standard Missile system, crucial for national defense and maritime security operations. Ursa Major's expertise in innovative propulsion solutions positions them as a key partner in bolstering US Navy capabilities.

Key Market Players

  • Lockheed Martin Corporation
  • Northrop Grumman Corporation
  • Israel Aerospace Industries Ltd
  • Elbit Systems Ltd
  • Saab AB
  • Thales SA
  • Kongsberg Gruppen ASA
  • BAE Systems plc
  • The Boeing Company
  • RTX Corporation

By Speed                                             

By Product                                            

By Guidance                                

By Region                                                              

  • Subsonic
  • Supersonic
  • Hypersonic
  • Cruise Missiles
  • Ballistic Missiles
  • Rockets
  • Torpedoes
  • Guided
  • Unguided
  • North America
  • Europe & CIS
  • Asia -Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Rocket and Missiles Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Rocket and Missiles Market, By Speed:

o   Subsonic

o   Supersonic

o   Hypersonic

  • Rocket and Missiles Market, By Product:

o   Cruise Missiles

o   Ballistic Missiles

o   Rockets

o   Torpedoes

  • Rocket and Missiles Market, By Guidance:

o   Guided

o   Unguided

  • Rocket and Missiles Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  Turkey

§  Iran

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Rocket and Missiles Market.

Available Customizations:

Global Rocket and Missiles Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Global Rocket and Missiles Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]   

Table of content

1.     Introduction

1.1.  Market Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Rocket and Missiles Market

5.    Global Rocket and Missiles Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Volume & Value

5.2.  Market Share & Forecast

5.2.1.     By Speed Market Share Analysis (Subsonic, Supersonic, Hypersonic)

5.2.2.     By Product Market Share Analysis (Cruise Missiles, Ballistic Missiles, Rockets, Torpedoes)

5.2.3.     By Guidance Market Share Analysis (Guided, Unguided)

5.2.4.     By Regional Market Share Analysis

5.2.4.1.         Asia-Pacific Market Share Analysis

5.2.4.2.         Europe & CIS Market Share Analysis

5.2.4.3.         North America Market Share Analysis

5.2.4.4.         South America Market Share Analysis

5.2.4.5.         Middle East & Africa Market Share Analysis

5.2.5.     By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2023)

5.3.  Global Rocket and Missiles Market Mapping & Opportunity Assessment

5.3.1.     By Speed Market Mapping & Opportunity Assessment

5.3.2.     By Product Market Mapping & Opportunity Assessment

5.3.3.     By Guidance Market Mapping & Opportunity Assessment

5.3.4.     By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Rocket and Missiles Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Volume & Value

6.2.  Market Share & Forecast

6.2.1.     By Speed Market Share Analysis

6.2.2.     By Product Market Share Analysis

6.2.3.     By Guidance Market Share Analysis

6.2.4.     By Country Market Share Analysis

6.2.4.1.         China Market Share Analysis

6.2.4.2.         India Market Share Analysis

6.2.4.3.         Japan Market Share Analysis

6.2.4.4.         Indonesia Market Share Analysis

6.2.4.5.         Thailand Market Share Analysis

6.2.4.6.         South Korea Market Share Analysis

6.2.4.7.         Australia Market Share Analysis

6.2.4.8.         Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.     China Rocket and Missiles Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Volume & Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Speed Market Share Analysis

6.3.1.2.2.             By Product Market Share Analysis

6.3.1.2.3.             By Guidance Market Share Analysis

6.3.2.     India Rocket and Missiles Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Volume & Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Speed Market Share Analysis

6.3.2.2.2.             By Product Market Share Analysis

6.3.2.2.3.             By Guidance Market Share Analysis

6.3.3.     Japan Rocket and Missiles Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Volume & Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Speed Market Share Analysis

6.3.3.2.2.             By Product Market Share Analysis

6.3.3.2.3.             By Guidance Market Share Analysis

6.3.4.     Indonesia Rocket and Missiles Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Volume & Value

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Speed Market Share Analysis

6.3.4.2.2.             By Product Market Share Analysis

6.3.4.2.3.             By Guidance Market Share Analysis

6.3.5.     Thailand Rocket and Missiles Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Volume & Value

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Speed Market Share Analysis

6.3.5.2.2.             By Product Market Share Analysis

6.3.5.2.3.             By Guidance Market Share Analysis

6.3.6.     South Korea Rocket and Missiles Market Outlook

6.3.6.1.         Market Size & Forecast

6.3.6.1.1.             By Volume & Value

6.3.6.2.         Market Share & Forecast

6.3.6.2.1.             By Speed Market Share Analysis

6.3.6.2.2.             By Product Market Share Analysis

6.3.6.2.3.             By Guidance Market Share Analysis

6.3.7.     Australia Rocket and Missiles Market Outlook

6.3.7.1.         Market Size & Forecast

6.3.7.1.1.             By Volume & Value

6.3.7.2.         Market Share & Forecast

6.3.7.2.1.             By Speed Market Share Analysis

6.3.7.2.2.             By Product Market Share Analysis

6.3.7.2.3.             By Guidance Market Share Analysis

7.    Europe & CIS Rocket and Missiles Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Volume & Value

7.2.  Market Share & Forecast

7.2.1.     By Speed Market Share Analysis

7.2.2.     By Product Market Share Analysis

7.2.3.     By Guidance Market Share Analysis

7.2.4.     By Country Market Share Analysis

7.2.4.1.         Germany Market Share Analysis

7.2.4.2.         Spain Market Share Analysis

7.2.4.3.         France Market Share Analysis

7.2.4.4.         Russia Market Share Analysis

7.2.4.5.         Italy Market Share Analysis

7.2.4.6.         United Kingdom Market Share Analysis

7.2.4.7.         Belgium Market Share Analysis

7.2.4.8.         Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.     Germany Rocket and Missiles Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Volume & Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Speed Market Share Analysis

7.3.1.2.2.             By Product Market Share Analysis

7.3.1.2.3.             By Guidance Market Share Analysis

7.3.2.     Spain Rocket and Missiles Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Volume & Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Speed Market Share Analysis

7.3.2.2.2.             By Product Market Share Analysis

7.3.2.2.3.             By Guidance Market Share Analysis

7.3.3.     France Rocket and Missiles Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Volume & Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Speed Market Share Analysis

7.3.3.2.2.             By Product Market Share Analysis

7.3.3.2.3.             By Guidance Market Share Analysis

7.3.4.     Russia Rocket and Missiles Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Volume & Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Speed Market Share Analysis

7.3.4.2.2.             By Product Market Share Analysis

7.3.4.2.3.             By Guidance Market Share Analysis

7.3.5.     Italy Rocket and Missiles Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Volume & Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Speed Market Share Analysis

7.3.5.2.2.             By Product Market Share Analysis

7.3.5.2.3.             By Guidance Market Share Analysis

7.3.6.     United Kingdom Rocket and Missiles Market Outlook

7.3.6.1.         Market Size & Forecast