Global Rocket and Missile Market is valued approximately USD 60.92 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.74% over the forecast period 2020-2027. Rockets and missiles are normally used to wipe out the enemy helicopters, plane, tanks, incoming missiles or rockets, ships, armored cars, submarine, artilleries, and so on. Rockets are self-propelled, unguided guns, and powered with the aid of rocket cars or jet engines.
Along with it, missiles are self-propelled, guided weaponry which are used for air-to-floor combat, floor-to-air fight, and air-to-air fight. The rockets and missiles have commendable role in defending the territory of country and countering against enemies in warfare which significantly paved the growth of market in supported by global rise in budget defense of various economies.
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For instance: as per Government of India, the spending of defense in 2020 is assigned as USD 65.86 billion which is more from USD 57 billion in 2018. Similarly, Department of Defense discretionary budget, United States, assigned USD 686.1 billion in defense in 2019 which increased to USD 721.5 billion in 2020. In addition, geopolitical instabilities and changing nature of warfare are the factor propelling the globe demand for rocket and missiles. However, high cost involved in the development of missile systems is the factor hampering the growth of market over the forecast.
The regional analysis of global Rocket and Missile Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in defense expenditure in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as geopolitical instabilities and changing nature of warfare would create lucrative growth prospects for the Rocket and Missile Market across Asia-Pacific region.
Major market player included in this report are:
Lockheed Martin Corporation
BAE Systems
Raytheon Company
Denso Corporation
Northrop Grumman Corporation
General Dynamics Corporation
Boeing
Thales Group
Leonardo
Rafael Advanced Defense Systems Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By Product:
Missile
Rocket
By Mission:
Cruise Missile
Ballistic Missile
By Rocket:
Artillery Rocket
Air-to-ground Rocket
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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