Rising demand for technologically robust rockets and missiles, growing defense budgets in the developing countries and increasing terrorist activities are some of the major factors propelling the market. However, high technology costs and decreasing budgets of developed countries hinder the market growth.
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By type the Missile segment is anticipated to witness huge growth during the forecast period as ballistic missiles have huge growth owing to rising demand for Surface-to-Air Missiles (SAMs) and heavy investment done by armed forces for the procurement of ballistic missiles across the globe.
Developing countries such as China and India are investing more in ballistic missiles due to the geopolitical scenario, regional disputes, and preparedness for war, among others. These countries are investing more in advanced technologies and focusing on manufacturing a wide range of offensive fighting vehicles.
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Geographically, North America holds the largest market share due to continuous demand from the U.S. military and engagement in various small conflicts.
Growing research and development activities undertaken in the region for the development of advanced technology-based designs of man portable warfare systems is the major factor which increases the demand for the market in this region. The U.S. is the major contributor to the growth of the market in this region.
Some of the key players in the Rocket and Missile market are BAE Systems, Thales Group,
MBDA Holdings SAS, Raytheon Company, Boeing Company, Northrop Grumman Corporation,
General Dynamics Corporation, Rafael Advanced Defense Systems Ltd., Denel Dynamics, Lockheed Martin Corporation, Saab AB, Roketsan A.S., Nammo AS, Kongsberg Gruppen ASA and Mesko S.A.
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Launch Modes Covered:
Rest of Europe
Rest of Asia Pacific
Rest of South America
Middle East & Africa
Rest of Middle East & Africa
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