Military Security & Defence Market Research News

Rocket and missile industry examined in new market research report

Military Market Research

The rocket and missile market is projected to grow from USD 55.53billion in 2017 to USD 70.00billion by 2022, at a CAGR of 4.74% from 2016 to 2022. This market is driven by several factors, such as rising number of geopolitical conflicts, wars and cross-border disputes, rise of a symmetric warfare, and increasing military use of offensive weapons for tactical operations.

Rocket and Missile Companies Profiled In Report: Lockheed Martin Corporation (U.S.), MBDA, Inc. (U.K.), Rafael Advanced Defense Systems (Israel), Thales Group (France), Saab AB (Sweden), Raytheon Company (U.S.), and Kongsberg Gruppen (Norway), among others.

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However, high cost involved in the development of missile systems and the declining defense budgets of developed countries may restrain the growth of the rocket and missile market in the U.S., the U.K., France, and Germany.

The target audience for the report includes:

  • Original Equipment Manufacturers (OEMs)
  • Component Suppliers
  • Military
  • Other Service Providers

“Ballistic missile type segment projected to grow at the highest CAGR during the forecast period”

Based on missile type, the rocket and missile market has been segmented into cruise missile and ballistic missile. The ballistic missile segment is projected to grow at the highest CAGR during the forecast period.

This high growth can be attributed to the increasing demand for Surface-to-Air Missiles (SAMs) and huge investments made for the procurement of ballistic missiles by armed forces across the globe.

“Asia-Pacific market to grow at the highest CAGR during the forecast period”

The Asia-Pacific rocket and missile market is projected to grow at the highest CAGR during the forecast period. In the Asia-Pacific region, the rocket and missile market in China is projected to grow at the highest CAGR during the forecast period, owing to technological advancements, rising incidences of armed conflict, and war against terrorism.

The increasing demand for military equipment from emerging nations and rising terrorist activities in South Asia are some of the factors fueling the demand for rockets and missiles in the region. China is also one of the largest exporters and manufacturers of defense systems.

In February 2017, China showcased its DF-16 missile, which is a medium-range ballistic missile with an operational range of 1,000 km. Countries such as the U.S., India, and Japan face an increasing threat from China due to its growing capability in missiles and rockets.

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Rocket and Missile Market Overview -   

Rocket & Missile Market, By Type:

  • Missile
  • Rocket

Rocket & Missile Market, By Subtype:

  • Missile
  • Rocket

Rocket & Missile Market, By Launch Mode:

  • Surface-to-Surface (SSM)
  • Surface-to-Air (SAM)
  • Air-to-Surface (ASM)
  • Air-to-Air (AAM)
  • Subsea-to-Surface (SuSM)

Rocket & Missile Market, By Launch Mode:

  • Solid Propulsion
  • Liquid Propulsion
  • Hybrid Propulsion
  • Ramjet
  • Turbojet
  • Scramjet

Rocket & Missile Market, By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Middle East
  • Rest of the World

From an insight perspective, this research report has focused on various levels of analysis—industry analysis, vendor dive analysis, company profiles and business strategy of top players, which together comprise and discuss basic views on competitive landscape, emerging and high-growth segments of the rocket and missile market, high-growth regions and countries, and their respective regulatory policies, government initiatives, and market drivers, restraints, and opportunities.

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