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Global Cruise Missile Market Analysis, Trends, Forecast: By Launch Platform: Air, Surface Combatants, Submarine, Land; By Range: Short-range Missiles, Medium-range Missiles, Long-range Missiles; By Speed: Subsonic, Supersonic, Hypersonic; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Cruise Missile Market Outlook
The global cruise missile market is expected to grow in the forecast period of 2024-2032 at a CAGR of 13.5%.
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North America to Continue Global Dominance Over the Forecast Period
Regionally, North America is expected to maintain its dominance over the global market registering highest CAGR during the forecast period owing to the growth of the US cruise missile industry. United States accounts for the largest investment in technology advanced weapons system to counter the increasing capabilities of China and Russia. Furthermore, the region’s growth is aided by the government’s budget allocation and the involvement of private sector in weapon manufacturing industry. By speed, the segment of supersonic cruise missile held the largest share in the market with a handful of nations capable enough to possess them. Major countries have been increasing their share of investments in all kinds of launch platforms for supersonic cruise missile which are predominantly in the long-range segment.
Cruise Missile: Market Segmentation
Cruise missiles are guided and unmanned missiles designed to deliver large warheads with great precision. They can self-navigate, fly on a non-ballistic and low-altitude trajectory and travel at supersonic and hypersonic speeds. Modern cruise missiles utilise various technologies, such as terrain mapping, global positioning systems (GPS), and gyroscopes to maintain a pre-programmed flight path.
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The market is segmented by launch platform into:
- Air
- Surface Combatants
- Submarine
- Land
The cruise missile industry can be broadly categorised based on its range into:
- Short-range Missiles
- Medium-range Missiles
- Long-range Missiles
Based on speed, the market can be divided into:
- Subsonic
- Supersonic
- Hypersonic
The regional markets for cruise missile include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Cross-Border Hostilities and Warfare Diplomacy to Aid the Market Growth for Cruise Missile
The global market for cruise missile is mainly propelled by the growing influence of missiles in modern warfare strategies. From a strategic outlook, countries, or entities with possession of such advanced missiles have higher potential to keep their adversaries at bay, which is a promising factor for robust growth of the industry in the years to come. In Addition, the increasing frequency of cross-border hostilities and terrorist activities across the globe is one of the significant factors driving the growth of the industry.
Moreover, integrating artificial intelligence technology in defence is paving the way for further advancement in its utility and aiding the market growth. The rapid modernisation of present defence systems, equipping missiles with angular thrusters, which provide horizontal repositioning feature, and the use of 3D printing technology to build components and structures for missiles are some of the other factors anticipated to drive the market growth during the forecast period.
Key Industry Players in the Global Cruise Missile Market
The report presents a detailed analysis of the following key players in the global cruise missile market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Lockheed Martin Corporation
- Raytheon Technologies Corporation
- Defense Research and Development Organization (DRDO)
- The Boeing Company
- MBDA Missile Systems Inc.
- Roketsan Roket Sanayii ve Ticaret A.S.
- Avibras Indústria Aeroespacial S/A
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Launch Platform |
|
| Breakup by Range |
|
| Breakup by Speed |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Cruise Missile Market Analysis
8.1 Key Industry Highlights
8.2 Global Cruise Missile Historical Market (2018-2023)
8.3 Global Cruise Missile Market Forecast (2024-2032)
8.4 Global Cruise Missile Market by Launch Platform
8.4.1 Air
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Surface Combatants
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Submarine
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Land
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global Cruise Missile Market by Range
8.5.1 Short-range Missiles
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Medium-range Missiles
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Long-range Missiles
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Cruise Missile Market by Speed
8.6.1 Subsonic
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Supersonic
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Hypersonic
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Cruise Missile Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Cruise Missile Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Cruise Missile Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Cruise Missile Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Cruise Missile Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Cruise Missile Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Lockheed Martin Corporation
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Raytheon Technologies Corporation
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Defense Research and Development Organization (DRDO)
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 The Boeing Company
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 MBDA Missile Systems Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Roketsan Roket Sanayii ve Ticaret A.S.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Avibras Indústria Aeroespacial S/A
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Cruise Missile Market: Key Industry Highlights, 2018 and 2032
2. Global Cruise Missile Historical Market: Breakup by Launch Platform (USD Million), 2018-2023
3. Global Cruise Missile Market Forecast: Breakup by Launch Platform (USD Million), 2024-2032
4. Global Cruise Missile Historical Market: Breakup by Range (USD Million), 2018-2023
5. Global Cruise Missile Market Forecast: Breakup by Range (USD Million), 2024-2032
6. Global Cruise Missile Historical Market: Breakup by Speed (USD Million), 2018-2023
7. Global Cruise Missile Market Forecast: Breakup by Speed (USD Million), 2024-2032
8. Global Cruise Missile Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Cruise Missile Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Cruise Missile Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Cruise Missile Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Cruise Missile Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Cruise Missile Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Cruise Missile Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Cruise Missile Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Cruise Missile Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Cruise Missile Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Cruise Missile Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Cruise Missile Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Cruise Missile Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 13.5% between 2024 and 2032.
The market is being driven by the rising incorporation of missiles in military arsenals to enhance military strength and increasing investments in technologically advanced weapon systems by various governments.
The key trends of the market include the increasing terrorist activities and the integration of the latest technologies such as artificial intelligence (AI) and 3D printing in cruise missiles.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading launch platforms of cruise missile in the market are air, surface combatants, submarine, and land.
The significant ranges in the market are short-range missiles, medium-range missiles, and long-range missiles.
The various speeds of cruise missile in the market are subsonic, supersonic, and hypersonic.
The key players in the global cruise missile market are Lockheed Martin Corporation, Raytheon Technologies Corporation, Defense Research and Development Organization (DRDO), The Boeing Company, MBDA Missile Systems Inc., Roketsan Roket Sanayii ve Ticaret A.S., and Avibras Indústria Aeroespacial S/A, among others.
Analyst Review
The global cruise missile market is driven by the increasing investments in technologically advanced weapon system. Aided by the growing deployment of missiles in warfare, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 13.5%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its launch platforms, the cruise missile industry can be segmented into air, surface combatants, submarine, and land. On the basis of ranges, the industry is divided into short-range missiles, medium-range missiles, and long-range missiles. By speed, the market is categorised into subsonic, supersonic, and hypersonic. The major regional markets for cruise missile are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Lockheed Martin Corporation, Raytheon Technologies Corporation, Defense Research and Development Organization (DRDO), The Boeing Company, MBDA Missile Systems Inc., Roketsan Roket Sanayii ve Ticaret A.S., and Avibras Indústria Aeroespacial S/A, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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