Key Players:
Denel Dynamics (South Africa), General Dynamics Corporation (US), Kongsberg Gruppen ASA (Norway), Lockheed Martin Corporation (US), MBDA Holdings SAS (France), Mesko SA (Poland), Nammo AS (Norway), Rafael Advanced Defense Systems Ltd (Israel), Roketsan AS (Turkey), Saab AB (Sweden), Thales Group (France), Raytheon Technologies Corporation (US).
Market Overview:
The Rocket And Missiles Market Is Estimated At $54 Billion In 2021 Growing At A CAGR Of 5% From 2022 To 2030. The increasing defense expenditure and increasing cross border disputes are primarily driving the growth of the market. Additionally, the increasing development of advanced weapon systems is driving the growth of the market.
Global Rocket and Missile Market has witnessed high growth in recent years owing to the increasing defense expenditure, increasing cross border disputes, and increasing development of advanced weapon systems. However, the high development cost of Rocket and Missile Market is expected to hinder the growth of the market to some extent.
Segmentation :
The Rocket And Missile Market Overview has been segmented By Launch Mode, By Propulsion and By Region.
By Launch Mode
Surface-To-Surface
Air-To-Surface
Surface-To-Air
By Propulsion
Solid Propulsion
Hybrid Propulsion
Turbojet
By Region
North America
Europe
Asia-Pacific
Middle East Africa
Latin America
Market USP
Development of guided missile systems
Growth Opportunities in the Market
The air-to-surface segment is expected to record the highest growth in the market: The air-to-surface segment is expected to register the highest CAGR during the review period. This is due to the increasing development of air to surface missiles that can be launched by fighter jets and helicopters.
The surface-to-surface segment accounted for the largest market share in 2019. This is due to the high demand for surface-to-surface missiles during warfare situations.
The solid propulsion segment accounted for the largest share in 2019: The solid propulsion segment accounted for the largest share of the global Rocket and Missile Market Size in 2019 primarily due to the extensive use of solid-state propulsion in many rockets globally.
The turbojet segment is expected to register the highest CAGR during the forecast period due to the wide use of turbojet in missiles.
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