The Rockets and Missiles Market size was valued at USD 56.8 billion in 2023 and is estimated to reach USD 92.80 billion by 2031 with a growing CAGR of 6.3% from 2024 to 2031.
Due to continual increases in military budgets around the world and the need for new rockets and missiles to resist modern combat around the country's border, the rockets and missiles industry is likely to develop. Additionally, an increase in the number of conflicts and high defence spending are two important drivers driving the global market. Various governments, including the United States, China, India, and Russia, are investing considerably in modernizing their military forces. As a result, several armament makers are refocusing their efforts on producing rockets and missiles. However, challenges with missile integration pose a threat to the rocket and missile market's growth.
To get more information on Rockets and Missiles Market - Request Free Sample Report
KEY DRIVERS
The performance of US weapon systems is unrivaled, giving US defense forces a tactical fighting edge over any foe in any weather. The US Department of Defense (DoD) has requested USD 247.3 billion in acquisition funding for Fiscal Year (FY) 2020, which includes funding from the Base budget and the Overseas Contingency Operations (OCO) fund, totaling USD 143.1 billion for procurement and USD 104.3 billion for development, research, evaluation, and test (RDT&E). The funding requested in the budget request provides a balanced portfolio approach to achieving the National Defense Strategy's military force objective. The budget for USD 247.3 billion includes USD 83.9 billion for Major Defense Procurement Programs (MDAPs), which are large-scale acquisition programs.
exceed the cost ceiling set by the Under Secretary of Defense for Acquisition and Sustainment Approximately the last five years, the Missile Defense Agency reports a rise of over 1,200 more ballistic missiles. Outside of the United States, the North Atlantic Treaty Organization, Russia, and China, the total number of ballistic missiles has climbed to about 5,900. Hundreds of missile launchers and launchers are currently within range of deployed US soldiers. As a result, the market for rockets and missiles is being driven by governments' increasing demand for military programmers to guard against numerous threats.
RESTRAINTS
Import-export control regimes, exchange restrictions, the Foreign Corrupt Practices Act, and the Export Administration Act are only a few of the federal and legislative norms and regulations that state-owned defense organizations must follow. Many governments prevent munition makers from exporting their goods, limiting their ability to serve foreign clients. This makes it difficult for weapons makers to sell their products internationally.
Terrorist groups obtaining access to advanced equipment such as anti-tank-guided weapons and advanced land mines exacerbated the problem of technology and weapon transfer. As a result, technology and weapon transfers to other countries are strictly regulated. This aspect is a stumbling block to the rocket and missile market's expansion.
OPPORTUNITIES
The development of next-generation missiles with cutting-edge technology poses a significant threat to important locations and assets such as military airbases and ships. among the latest developments are high-speed cruise missiles and Nuclear-capable ballistic missiles. Various countries are developing new weaponry capable of destroying high-end air defense systems such as the MEADS, the Patriot Advanced Capability-3 (PAC-3), and the S-400. India, China, and Russia have developed hypersonic missiles that are challenging to intercept with missile defense systems. Missile developed jointly by India and Russia, The BrahMos missile,is difficult to intercept by earlier missile defense systems.
These improvements have necessitated the creation of new-generation high-speed air defense electronic warfare systems. Governments throughout the world are working on the development of stealth aircraft while also investing considerably in modern surveillance systems to counter stealth technology.
CHALLENGES
The integration of smaller precision-guided weapons is a simpler process than that of bigger ones. For example, missile integration occurs at three levels: first on the missile itself, second with the platform from which it is fired, and third with the current command and control network. The integration of diverse electronic devices, sensors, warheads, kill vehicles, propulsion systems, and other subsystems is extremely complex. The challenge rises in the case of Several Independent Re-entry Vehicle (MIRV) ballistic missiles, which contain multiple warheads assigned for multiple targets. Furthermore, if the missile is to be loaded with a nuclear payload, the integration process is extremely complex and requires professional engineers to complete the task. Integrating a missile with a launching platform provides benefits like as compatibility with a greater range of platform carriage, an unconstrained carriage envelope, safe and precise storage separation, and increased platform survivability. Checking for launch platform compatibility, limitations, firepower, survivability, missile-carrying, and launch compatibility is essential.
IMPACT OF COVID-19
Even as the globe deals with the COVID-19 pandemic, military procurement, maintenance, and manufacture in practically every country continues, because national safety is paramount and protecting soldiers is a top priority.
Defense spenders such as the United States and Russia commit around 4% of their GDP to defense, which is a significant sum. But, for the time being, all army movements, missions, and drills have been halted.
Cessation or reduction of military exercises would diminish engagement time, informal testing, and equipment assessment, as well as the latent rocket and missile market development potential.
Supply-side shocks are among the most visible effects of the pandemic's ramifications on the defense sector. Businesses based in virus-stricken nations or those depending on supply chain operations situated in impacted countries are the direct victims of the epidemic.
By Launch Mode
Surface-to-Surface: This segment held the biggest market share in 2023 and is predicted to grow at a steady CAGR throughout the forecast period.
conventional weapons such as Surface-to-surface missiles and rockets, and as such, they are generally utilised by military forces.
Air-to-Surface: During the review period, this category is predicted to have the greatest CAGR. The growing usage of guided missiles launched by fighter planes and helicopters is likely to boost expansion in this market.
Surface-to-Air: In 2023, this sector held the second-largest market share. This is due to the increased usage of surface-to-air missiles to eliminate enemy aircraft.
By Propulsion
Solid Propulsion: In 2023, this sector dominated the rocket and missile market. This is because solid-state propulsion systems are widely used in rockets.
Hybrid propulsion: is predicted to grow at the fastest rate during the forecast period. This is owing to a rise in demand for hybrid propulsion systems for intercontinental ballistic missiles.
Turbojet: During the projected period of 2024 to 2031, the segment is expected to increase steadily. In missiles, turbojet propulsion methods are commonly employed.
MARKET ESTIMATION
The surface-to-surface launch mode is expected to account for the greatest percentage of the rockets and missiles market in 2023.
The rockets and missiles market has been divided into surface to surface, surface to air, air-to-air, air to surface, and subsea to surface launch modes. Surface-to-surface rockets and missiles are launched from land or sea. They can be fired from handheld, vehicle-mounted, or stationary installations. These missiles, which are utilised in land combat operations, are meant to strike targets on the ground or at sea. As a result, they are also referred to as ground-to-ground rockets and missiles.
From 2024 to 2031, the North American market is expected to contribute the most. During the forecast period, North America is expected to have the highest regional share of the rockets and missiles market. Northrop Grumman Corporation, Lockheed Martin, Raytheon Technologies, and General Dynamics Corporation are all headquartered in the United States. These players are constantly investing in the research and development of new and innovative technology employed in the missile defense system.
By Speed
Subsonic
Supersonic
Hypersonic
By Product
Cruise
Ballistic Missiles
Rockets
By Propulsion Type
Solid
Liquid
Hybrid
Ramjet
Turbojet
Scramjet
By Guidance Mechanism
Guided
UnGuided
By Launch Mode
Surface to Surface
Surface to Air
Air to Air
Air to surface
Subsea to Surface
REGIONAL ANALYSIS
From 2024 to 2031, the North American market is expected to contribute the most. During the forecast period, North America is expected to hold the highest geographic share of the ROCKETS AND MISSILES market. Northrop Grumman Corporation, Lockheed Martin, Raytheon Technologies, and General Dynamics Corporation are all headquartered in the United States. These players are constantly investing in the research and development of new and improved technology utilized in missile defense systems.
Need any customization research on Rockets and Missiles Market - Enquiry Now
REGIONAL COVERAGE
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Key Players are Northrop Grumman Corporation, Lockheed Martin Corporation, BAE Systems, Thales Group and other Players.
Lockheed Martin Corporation-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 56.8 Billion |
| Market Size by 2031 | US$ 92.80 Billion |
| CAGR | CAGR of 6.3% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Speed (Subsonic, Supersonic, Hypersonic), Product, Propulsion Type (Solid, Liquid, Hybrid Propulsion, Ramjet, Turbojet and Scramjet), Guidance Mechanism (Guided and Unguided) • By Launch Platform |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Northrop Grumman Corporation, Lockheed Martin Corporation, BAE Systems, and Thales Group. |
Ans: The Rockets and Missiles Market size was valued at US$ 56.8 billion in 2023.
Ans: The Rockets and Missiles Market is to grow at a CAGR of 6.3% from 2024 to 2031.
Terrorist groups obtaining access to advanced equipment such as anti-tank guided weapons and advanced land mines exacerbated the problem of technology and weapon transfer. As a result, technology and weapon transfers to other countries are strictly regulated. This aspect is a stumbling block to the rocket and missile market's expansion.
With a market share of 62 percent and a revenue of 38.33 billion, the missile segment dominated the market.
Defense plans to protect governments from various threats, as well as increased defence spending by emerging economies
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Market Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Rockets and missiles market, By Speed
8.1 Subsonic
8.2 Supersonic
8.3 Hypersonic
9. Rockets and missiles market, By Product
9.1 Cruise
9.2 Ballistic Missiles
9.3 Rockets
9.4 Torpedoe
10. Rockets and missiles market, By Propulsion Type
10.1 Solid
10.2 Liquid
10.3 Hybrid
10.4 Ramjet
10.5 Turbojet
10.6 Scramjet
11. Rockets and missiles market, By Guidance Mechanism
11.1 Guided
11.2 UnGuided
12. Rockets and missiles market, By Launch Mode
12.1 Surface to Surface
12.2 Surface to Air
12.3 Air to Air
12.4 Air to surface
12.5 Subsea to Surface
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14. Company Profiles
14.1 HITACHI LTD.
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 AB VOLVO
14.3 CATTERPILLAR INC.
14.4 CNH INDUSTRIAL N.V
14.5 DEERE AND COMPANY
14.6 DOOSAN INFRACOE CO.LTD
14.7 J C BAMFORD EXCAVATORS. LTD.
14.8 KOMATSU LTD.
14.9 Liebherr-international AG
14.10 XCMG GROUP
15. Competitive Landscape
15.1 Competitive Benchmark
15.2 Market Share Analysis
15.3 Recent Developments
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Aircraft Pumps Market Size was valued at USD 3.14 billion in 2023, expected to reach USD 5.12 billion by 2032 and grow at a CAGR of 5.7% over the forecast period 2024-2032.
The Unmanned Underwater Vehicles (UUV) Market Size was valued at USD 4.12 billion in 2023 and is expected to reach USD 13.29 billion by 2031 with an emerging CAGR of 15.8% over the forecast period 2024-2031.
The Aircraft Electric Motors Market size was valued at USD 8.85 billion in 2023 and is expected to reach USD 19.35 billion by 2032 and grow at a CAGR of 9.08% over the forecast period 2024-2032.
The Aircraft Sensors Market Size was valued at USD 4.5 billion in 2023 and is expected to reach USD 6.98 billion by 2032 with a growing CAGR of 5% over the forecast. period 2024-2032.
The Aviation Software Market Size is expected to reach USD 6.01 Bn by 2030 and grow at a CAGR of 9 % over the forecast period 2023-2030.
The Aerobatic Aircraft Market size was USD 828 million in 2023 and is expected to reach USD 1294.2 million by 2032, growing at a CAGR of 5.1% over the forecast period of 2024-2032.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
