Polaris Market Research has published a detailed report on the global Rocket & Missiles Market, offering valuable insights for stakeholders. The report covers key aspects, including global market value, competitor market share, and regional distributions. It highlights current market trends and identifies future growth opportunities, providing essential data to help businesses navigate the evolving market landscape. This comprehensive analysis equips stakeholders with actionable information to make informed decisions and stay competitive. By addressing market dynamics, challenges, and emerging opportunities, the report serves as a critical resource for understanding the complexities of the Rocket & Missiles market and planning strategic actions effectively.
Global Rockets and Missiles Market size and share is currently valued at USD 59,862.24 million in 2023 and is anticipated to generate an estimated revenue of USD 98,253.49 Million by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.7% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Key Market Drivers:
- Increased defense budgets globally for national security.
- Advancements in space exploration and satellite deployment.
- Rising geopolitical tensions driving demand for advanced missile systems.
- Technological innovations in propulsion systems and materials.
- Development of hypersonic and reusable rocket technologies.
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Key Companies in Rocket & Missiles Market:
- BAE Systems
- Bharat Dynamics Limited
- Boeing
- Denel Dynamics
- L3Harris Technologies
- Lockheed Martin
- MBDA
- Northrop Grumman Corporation
- RTX
- Thales Group
Rocket & Missiles Market Scope
Market research for rockets and missiles encompasses the evaluation of rising defense budgets, advancements in propulsion systems, and the growing importance of hypersonic and reusable technologies. It covers key applications in military defense and space exploration, alongside geopolitical factors driving demand. The research examines innovations in materials, guidance systems, and their implications for cost efficiency and precision. Additionally, it includes an analysis of international collaborations and emerging private sector investments in space programs.
Rocket & Missiles Market Segmentation:
Market segmentation for rockets and missiles is categorized by product type, propulsion, application, launch platform, and region. Product types include ballistic missiles, cruise missiles, and rockets. Propulsion systems include solid, liquid, hybrid, and ramjet. Applications are divided into defense and space exploration. Launch platforms include land, air, sea, and space-based systems. Regional segmentation emphasizes defense investments in North America and Asia-Pacific, with space initiatives driving demand globally.
Rockets and Missiles Market, Speed Outlook (Revenue – USD Million, 2019 – 2032)
- Subsonic
- Supersonic
- Hypersonic
Rockets and Missiles Market, Product Outlook (Revenue – USD Million, 2019 – 2032)
- Cruise
- Ballistic
- Rockets
- Torpedoes
Rockets and Missiles Market, Propulsion Type Outlook (Revenue – USD Million, 2019 – 2032)
- Solid
- Liquid
- Hybrid
- Ramjet
- Turbojet
- Scramjet
Rockets and Missiles Market, Launch Mode Outlook (Revenue – USD Million, 2019 – 2032)
- Surface to Surface
- Surface to Air
- Air to Air
- Air to Surface
- Subsea to Surface
Rocket & Missiles Industry Developments:
- January 2024: L3Harris Technologies is upgrading its solid rocket motor manufacturing facilities to support a new contract from Lockheed Martin. Through its subsidiary, Aerojet Rocketdyne, the company will continue providing propulsion systems for the U.S. Army’s Guided Multiple Launch Rocket System (GMLRS) programs, enhancing the program’s operational capabilities.
- February 2023: At the Aero India 2023 exhibition in Bengaluru, Bharat Dynamics Limited (BDL) unveiled three cutting-edge missile technologies: the Vertical Launched-Short-Range Surface-to-Air Missile (VL SR SAM), the Semi-Active Laser Seeker Homing Anti-Tank Guided Missile for BMP-II, and a Drone Delivered Missile, showcasing advancements in missile technology and defense innovation.
- February 2024: MBDA signed two Memorandums of Understanding (MoUs) with Greek companies MILTECH and ALTUS as part of its “R&D Booster” initiative in Greece. The partnership with ALTUS focuses on developing tactical drones equipped with AKERON MP missiles, driving innovation in next-generation defense systems.
- October 2023: L3Harris Technologies, Leidos, and MAG Aerospace partnered to support the U.S. Army’s High Accuracy Detection and Exploitation System (HADES) program. This collaboration aims to deliver a fleet of advanced aerial intelligence, surveillance, and reconnaissance (ISR) aircraft, designed to collect critical operational intelligence against sophisticated adversaries.
The Rocket & Missiles market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.
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