Rockets And Missiles Market Is Expected To Grow Up To A CAGR Of 6.01% Between 2023 And 2030

The global rockets and missiles market size was evaluated at $60 billion in 2022 and is slated to hit $93 billion by the end of 2030, with a CAGR of nearly 6.01% between 2023 and 2030.

Rockets and missiles are self-propelled, precision-guided munitions and launch vehicles for military, space exploration, and commercial use, from battlefield strikes to satellite deployment systems. These advanced weapons and aerospace systems provide deterrence and strategic advantage. They now have hypersonic technology, enhanced guidance, and improved propulsion.

Browse the full “Rockets And Missiles Market By Type (Missile and Rocket), By Speed (Subsonic, Hypersonic, and Supersonic), By Propulsion Type (Solid, Scramjet, Ramjet, Hybrid Propulsion, Cryogenic, Liquid, and Turbojet), By Platform (Airborne, Naval, and Ground), By Guidance Mechanism (Guided and Unguided), By Launch Mode (Surface-to-Surface, Air-to-Air, Sea-to-Sea, Surface-to-Air, Subsea-to-Surface, and Air-to-Surface), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 - 2030”- Report at https://www.zionmarketresearch.com/report/rockets-missiles-market

The focus on military modernization and space commercialization drives the market.

Market Growth Factors

Several factors contribute to the expansion of the rockets and missiles market.

• Defense budgets: Increasing military expenditure among major powers and emerging economies accelerates procurement programs.
• Technological innovation: Propulsion, materials, and guidance systems advancements enhance performance capabilities and strategic value.
• Space industry growth: Expanding commercial launch requirements for satellite constellations drive rocket development investment.

Restraints

• International treaties: Arms control agreements and non-proliferation efforts limit certain system developments.
• Development complexity: Extended timelines and technical challenges in next-generation systems create program risks.

Rockets and Missiles Market: Report Scope

Market Segmentation

The rockets and missiles market can be segmented based on product type, launch mode, platform, guidance mechanism, speed, propulsion type, and region.

Based on product type, the rockets and missiles market is segregated into cruise, ballistic, torpedoes, and air-to-air missiles. Cruise missiles dominate the market due to their versatility, precision strike capabilities, and increasing adoption across naval, air, and ground-based platforms.

Based on launch mode, the rockets and missiles industry is segmented into surface-to-surface, surface-to-air, air-to-air, air-to-surface, and subsea-to-surface. Surface-to-surface systems lead the market due to their critical role in ground warfare, territorial defense, and long-range strategic operations.

Based on the platform, the market is categorized into airborne, naval, and ground. Ground-based missile systems lead the market as they serve a vital role in strategic deterrence, homeland defense, and intercontinental warfare.

Based on the guidance mechanism, the rocket and missile industry is divided into guided and unguided. Guided missile systems dominate the market due to advancements in GPS, inertial navigation, and AI-based targeting, ensuring precision strikes and minimizing collateral damage in modern warfare.

Based on speed, the industry is classified into subsonic, hypersonic, and supersonic. Hypersonic systems lead the market due to their ability to travel at speeds exceeding Mach 5, making them difficult to detect and intercept.

Based on propulsion type, the rockets and missiles market is classified into solid, liquid, hybrid, and ramjet/scramjet. Solid propulsion dominates the market as it offers reliability, storage stability, and operational readiness advantages critical for military applications.

North America leads the global rockets and missiles market, driven by substantial defense investments and aerospace capabilities from the United States. The region's dominance stems from extensive military modernization programs and the presence of leading defense contractors. The intense research infrastructure and advanced testing facilities strengthen North America's position in missile technology innovation. Ongoing advancement through hypersonic weapons development and next-generation deterrence systems continue to drive market expansion in the region. The increasing integration between defense agencies, aerospace companies, and technology developers is accelerating North America's development and deployment of advanced missile systems.

Key Market Players

Some key industry players operating in the global rockets and missiles market include:

• Lockheed Martin Corporation
• Almaz-Antey
• Airbus Group
• Thales Group
• General Dynamics Corporation
• Northrop Corporation
• BAE Systems plc
• Raytheon Technologies Corporation
• Leonardo S.p.A.
• The Boeing Company
• MBDA
• NPO Mashinostroyeniya
• MKB Raduga Company
• Tactical Missiles Corporation
• JSC Krasmash
• MESKO
• ROKETSAN A.S.
• Nammo AS
• Roscosmos
• Elbit Systems Ltd.
• NPO Mashinostroyeniya
• Rafael Advanced Defense Systems Ltd.
• Saab AB
• KONGSBERG
• Denel Dynamics.

Recent Developments

• In 2024, Lockheed Martin successfully demonstrated a new generation of hypersonic missile systems capable of maneuverable flight at speeds exceeding Mach 5 with unprecedented precision targeting capabilities.

In 2024, Raytheon Technologies unveiled advanced artificial intelligence integration in missile guidance systems, significantly improving target discrimination capabilities in complex electronic warfare environments.

The global Rockets and Missiles market is segmented as follows:

By Type

• Missile
• Rocket

By Speed

• Subsonic
• Hypersonic
• Supersonic

By Propulsion Type

• Solid
• Scramjet
• Ramjet
• Hybrid Propulsion
• Cryogenic
• Liquid
• Turbojet

By Platform

• Airborne
• Naval
• Ground

By Guidance Mechanism

• Guided
• Unguided

By Launch Mode

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

 By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com