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Global Rocket and Missiles Market to Grow at a CAGR of 4.6% During the Period 2024-2032, Driven by Increased Military Spending

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Rocket and Missiles Market

Global Rocket and Missiles Market Analysis, Outlook, Report: By Type: Missile, Rocket; By Platform: Airborne, Naval, Ground; By Launch Mode: Surface-to-Surface, Surface-to-Air, Air-to-Air, Air-to-Surface, Subsea-to-Surface; By Propulsion: Solid, Liquid, Hybrid, Scramjet, Turbojet, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Rocket and Missiles Market Outlook

The global rocket and missiles market is expected to grow at a CAGR of 4.6% during the period 2024-2032. The market is expected to be driven by countries’ expenditures towards acquiring new and advanced rocket and missile systems to strengthen their defence capabilities.

 

Global Rocket and Missiles Market

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Global Market Likely to be Driven by Nations’ Spending Towards Increasing Military Capabilities

Increased military expenditures of countries are also fuelled by their rivalries and tensions with rival nations. Further, continual advancements in rocket and missile systems warrant constant modernization of military capacities in order to remain prepared for dynamic and ever-changing threat scenarios. United States, China, India, Russia, United Kingdom, Saudi Arabia, Germany, France, Japan, and South Korea are major nations with significant military spending.

A missile is a rocket-propelled weapon intended to deliver a high-speed, high-accuracy explosive warhead. Missiles range in size from small tactical weapons (with a range of only a few hundred feet) to considerably larger strategic weapons with a range of thousands of miles. Almost all missiles have some sort of guidance and control system, thus, are commonly called guided missiles.

A rocket is a term used to describe an unguided military missile, as well as any launch vehicle employed to sound the upper atmosphere or place a satellite in orbit. A torpedo is an undersea missile propelled by a propeller, and a cruise missile is a guided missile propelled along a low, level flight path by an air-breathing jet engine.

 

Tactical and Ballistic Missiles form a Significant Part of the Global Rocket and Missiles Market

While missiles may be propelled by liquid-fuelled as well as solid-fuelled rocket engines, solid fuel is favoured for military applications. Tactical guided missiles (missiles designed for deployment within the immediate battle area) are commonly propelled at double the speed of sound toward their targets by such engines. On the other hand, strategic missiles (intended to hit targets far beyond the conflict area) are either cruise or ballistic missiles.

Ballistic missiles are rocket-powered only in the initial (boost) flight-phase, thereafter, they adhere to an arcing trajectory to the target. As the ballistic warhead falls back to Earth pulled by gravity, it reaches speeds that are several times that of sound. Cruise missiles, on the other hand, are jet-propelled, and maintain subsonic speeds throughout their flights.

During flight, almost all missiles are kept steady by stabilizing fins. Additionally, guided missiles carry control systems to adjust their flight paths. The simplest control systems are aerodynamic; these use movable vanes or flaps to adjust air-flow through the stabilizing fins. Ballistic missiles are required to travel beyond the Earth’s atmosphere, and employ a more complex system – thrust vectoring – in which gas-streams from the rocket engine are deflected by placing vanes within the exhaust nozzle or by swivelling the whole engine.

In a missile, the guidance system is the most important component. Tactical missiles employ electronic sensors to locate the target by sensing energy released or reflected therefrom.

Tactical guided missiles are of five types - air-to-air, air-to-surface, surface-to-air, antiship, and antitank or assault – and are normally classified according to the location of the launch platform and target.

Ballistic missiles are generally classified as short-range ballistic missiles (SRBMs), medium-range ballistic missiles (MRBMs), intermediate-range ballistic missiles (IRBMs), and intercontinental ballistic missiles (ICBMs).

 

Global Rocket and Missiles Market Segmentation

 

Global Rocket and Missiles Market by Segment

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By type, the market is segmented into:

  • Missile (further broken down according to type as given below)
    • Cruise Missile (further broken down by type as given below)
    • Surface-to-Air Missile
    • Anti-Ship Missile
    • Anti-Tank Missile
    • Anti-Submarine Missile
    • Ballistic Missile
  • Rocket (further broken down by type as given below)
    • Artillery Rocket
    • Air-Launched Rocket

By platform, the market is classified into:

  • Airborne
  • Naval
  • Ground

By launch mode, the market is divided into:

  • Surface-to-Surface
  • Surface-to-Air
  • Air-to-Air
  • Air-to-Surface
  • Subsea-to-Surface

By propulsion, the market is segmented into:

  • Solid
  • Liquid
  • Hybrid
  • Scramjet
  • Turbojet
  • Ramjet

By region, the market is divided into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Global Rocket and Missiles Market by Region

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Key Industry Players in the Global Rocket and Missiles Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Denel SOC Ltd (Denel Dynamics)
  • General Dynamics Corporation
  • Kongsberg Gruppen ASA
  • Lockheed Martin Corporation
  • MBDA Missiles Systems Inc.
  • Rafael Advanced Defense Systems Ltd.
  • Raytheon Technologies Corporation
  • Others

The EMR report gives an in-depth insight into the industry 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:

  • Type
  • Platform
  • Launch Mode
  • Propulsion
  • Region
Breakup by Type
  • Missile
  • Rocket
Breakup by Platform
  • Airborne
  • Naval
  • Ground
Breakup by Launch Mode
  • Surface-to-Surface
  • Surface-to-Air
  • Air-to-Air
  • Air-to-Surface
  • Subsea-to-Surface
Breakup by Propulsion
  • Solid
  • Liquid
  • Hybrid
  • Scramjet
  • Turbojet
  • Ramjet
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Denel SOC Ltd (Denel Dynamics)
  • General Dynamics Corporation
  • Kongsberg Gruppen ASA
  • Lockheed Martin Corporation
  • MBDA Missiles Systems Inc.
  • Rafael Advanced Defense Systems Ltd.
  • Raytheon Technologies Corporation
  • Others
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 Rocket and Missiles Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Rocket and Missiles Historical Market (2018-2023) 
    8.3    Global Rocket and Missiles Market Forecast (2024-2032)
    8.4    Global Rocket and Missiles Market by Type
        8.4.1    Missile
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
            8.4.1.3    Breakup by Type
                8.4.1.3.1    Cruise Missile
                8.4.1.3.2    Breakup by Type
                    8.4.1.3.2.1    Surface-to-Air Missile
                    8.4.1.3.2.2    Anti-Ship Missile
                    8.4.1.3.2.3    Anti-Tank Missile
                    8.4.1.3.2.4    Anti-Submarine Missile
                8.4.1.3.3    Ballistic Missile
        8.4.2    Rocket
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
            8.4.2.3    Breakup by Type
                8.4.2.3.1    Artillery Rocket
                8.4.2.3.2    Air-Launched Rocket
    8.5    Global Rocket and Missiles Market by Platform
        8.5.1    Airborne
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Naval
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Ground
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Rocket and Missiles Market by Launch Mode
        8.6.1    Surface-to-Surface
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Surface-to-Air
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Air-to-Air
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Air-to-Surface
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Subsea-to-Surface
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
    8.7    Global Rocket and Missiles Market by Propulsion
        8.7.1    Solid
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Liquid
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Hybrid
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Scramjet
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Turbojet
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
        8.7.6    Ramjet
            8.7.6.1    Historical Trend (2018-2023)
            8.7.6.2    Forecast Trend (2024-2032)
    8.8    Global Rocket and Missiles Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Rocket and Missiles 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 Rocket and Missiles 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 Rocket and Missiles 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 Rocket and Missiles 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 Rocket and Missiles 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    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Denel SOC Ltd (Denel Dynamics)
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    General Dynamics Corporation
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Kongsberg Gruppen ASA
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Lockheed Martin Corporation
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    MBDA Missiles Systems Inc.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Rafael Advanced Defense Systems Ltd.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Raytheon Technologies Corporation
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Others
16    Key Trends and Developments in the Market

 

List of Figures and Tables

1.    Global Rocket and Missiles Market: Key Industry Highlights, 2018 and 2032
2.    Global Rocket and Missiles Historical Market: Breakup by Type (USD Million), 2018-2023
3.    Global Rocket and Missiles Market Forecast: Breakup by Type (USD Million), 2024-2032
4.    Global Rocket and Missiles Historical Market: Breakup by Platform (USD Million), 2018-2023
5.    Global Rocket and Missiles Market Forecast: Breakup by Platform (USD Million), 2024-2032
6.    Global Rocket and Missiles Historical Market: Breakup by Launch Mode (USD Million), 2018-2023
7.    Global Rocket and Missiles Market Forecast: Breakup by Launch Mode (USD Million), 2024-2032
8.    Global Rocket and Missiles Historical Market: Breakup by Propulsion (USD Million), 2018-2023
9.    Global Rocket and Missiles Market Forecast: Breakup by Propulsion (USD Million), 2024-2032
10.    Global Rocket and Missiles Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global Rocket and Missiles Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Rocket and Missiles Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America Rocket and Missiles Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe Rocket and Missiles Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe Rocket and Missiles Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific Rocket and Missiles Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific Rocket and Missiles Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America Rocket and Missiles Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America Rocket and Missiles Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa Rocket and Missiles Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa Rocket and Missiles Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Global Rocket and Missiles Market Structure

Key Questions Answered in the Report

What is the growth rate of the global rocket and missiles market?

The global rocket and missiles market is projected to grow at a CAGR of 4.6% between 2024 and 2032.

What are the major industry drivers?

The major drivers of the market include the modernisation of military capacities, increasing research and development activities, increasing government spending, and increasing need for defence programs by nations.

What are the key industry trends of the global rocket and missiles market?

The countries’ increasing expenditures towards acquiring new and advanced rocket and missile systems and increasing incidences of terrorist activities are the key industry trends propelling the market's growth.

What are the major regional markets of rocket and missiles, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the segments based on type in the market?

Based on type, the market is segmented into missile and rocket. The missile is further divided into cruise missile and ballistic missile while the rocket is divided into artillery rocket and air-launched rocket.

What are the major platforms of rocket and missiles in the market?

The major platforms include airborne, naval, and ground.

What are the different launch modes of the market?

The different launch modes are surface-to-surface, surface-to-air, air-to-air, air-to-surface, and subsea-to-surface.

What are the segments based on propulsion in the market?

Based on propulsion, the market is divided into solid, liquid, hybrid, scramjet, turbojet, and ramjet.

Who are the key industry players, according to the report?

The major players in the industry are Denel SOC Ltd (Denel Dynamics), General Dynamics Corporation, Kongsberg Gruppen ASA, Lockheed Martin Corporation, MBDA Missiles Systems Inc., Rafael Advanced Defense Systems Ltd., and Raytheon Technologies Corporation, among others.

Analyst Review

The global rocket and missiles market was driven by the countries’ increasing expenditures towards acquiring new and advanced rocket and missile systems in the historical period. Aided by the increasing research and development activities and increasing government spending, the market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 4.6%.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market is segmented into missile and rocket. The major platforms include airborne, naval, and ground. The different launch modes are surface-to-surface, surface-to-air, air-to-air, air-to-surface, and subsea-to-surface. Based on propulsion, the market is divided into solid, liquid, hybrid, scramjet, turbojet, and ramjet. The major regional markets for the rocket and missiles are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the industry are Denel SOC Ltd (Denel Dynamics), General Dynamics Corporation, Kongsberg Gruppen ASA, Lockheed Martin Corporation, MBDA Missiles Systems Inc., Rafael Advanced Defense Systems Ltd., and Raytheon Technologies Corporation, 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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