Delray Beach, FL, March 10, 2025 (GLOBE NEWSWIRE) — The rocket and missile market are projected to reach USD 85.22 billion by 2029, from USD 62.50 billion in 2024, at a CAGR of 6.4%. In terms of volume, the market will likely grow from 138,808 units in 2024 to 183,672 units by 2029.
This growth can be primarily attributed to the rise in defense programs worldwide and the development of advanced missile systems to mitigate increasing security threats. Exports and sales of rocket artilleries, missiles, and torpedoes are pivotal to national security, and governments are closely monitoring these trades. This helps the government prevent security threats, support allies, and maintain geopolitical stability.
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Explore the Key Players in the Rocket and Missile Industry:
- Lockheed Martin Corporation (US)
- RTX (US)
- BAE Systems (UK)
- Northrop Grumman (US)
- Boeing (US)
- Israel Aerospace Industries (Israel)
Rocket and Missile Market Segmentation Analysis:
By speed, supersonic segment to be dominant during forecast period
The supersonic segment is expected to hold the largest share of the rocket and missile market in 2029. Supersonic rockets and missiles, with speeds ranging between Mach 1 and 5, can engage targets quickly. This makes them suitable for various military applications, both offense and defense. These rockets also play a crucial role in space exploration and research activities, which require high speed and thrust to achieve desired altitudes or orbits. With the changing dynamics of global security, nations increasingly focus on handling emerging threats and maintaining strategic supremacy, which gives rise to the demand for advanced weaponry.
By region, North America to be Largest Market for Rockets and Missiles During Forecast Period
The North American rocket and missile market is expected to …
