Global Rocket and Missile Market

Rocket and Missile Market Insights

The rocket and missile market is examined to achieve resolute development in CAGR by 4.7% during the forecast period (2020-2026). A missile (guided missile) is a convoyed airborne ranged armament proficient in self-propelled flight. Missiles have four system segments, that are targeting/guidance system, flight system, engine, and warhead whereas, a rocket is a missile or a spacecraft. Missiles are used as a form of weaponry by the Defense sector whereas, rockets can be used by the Defense and aerospace domain. Rockets are utilized as fireworks, artificial satellites, human spaceflight, and space journeys. Due to the inopportune influence of the COVID-19 pandemic, industries had to observe stringent lockdown and follow strict safety protocols which resulted in redirecting the focus towards healthcare resulting in the decline of growth of the market. Yet, during the forecast period, increasing research & development activities in aerospace & defense, rising border disputes between nations, and demand for weaponry will administer as factors accelerating the reach of the global market.

Rocket and Missile Market: By Type of Launch Mode

Air-To-Air, Surface-To-Air, Surface-To-Surface, Air-To-Surface and Subsea-To-Surface are the market categories based on mode of launch. The surface-to-surface launch segment will be noticed to hold the largest share of the global market in the forecast period. The incorporation of contemporary digital technology in Defense and military, demand for unmanned vehicles, and active technological phylogenies are some of the several factors coaxing the evolution of the global market.

Rocket and Missile Market: By Type of Propulsion

Based on the type of scramjet, propulsion, liquid propulsion, solid propulsion, hybrid propulsion, ramjet, and turbojet is the categorization of the market. Solid propulsion is the dominating segment based on propulsion but, scramjet propulsion will become the fastest-growing segment in the forecast period. The rise in fiscal year budgets for Defense by the government of various countries, emerging space programs, and an increase in demand for cruise missiles function as the drivers for the augmentation of the market.

Rocket and Missile Market: By Region

As per the geographical studies, the market is seen to dominate the North American region. The acceleration of inter-country conflicts, rise in terrorist activities, headways concerning Defense exercises across the globe are the factors directing the scope of the market. However, the market for Asia-Pacific would be immensely growing in the coming years

Rocket and Missile Market Share and Competitor Analysis

Kongsberg Gruppen ASA, Thales Group, Raytheon Technologies Corporation, Lockheed Martin Corporation, MBDA Holdings SAS, Mesko SA, Roketsan AS, Saab AB, Denel Dynamics, General Dynamics Corporation, Nammo AS, Rafael Advanced Defense Systems Ltd., and other industries are the dominant players in the global rocket and missile market.

Please note: This is not an exhaustive list of companies profiled in the report.

Check the Press Release on Global Rocket and Missile Market Report