Rocket and Missile Market to Reach $68.6 Billion in 2025: Geopolitical Tensions and Space Exploration Continue to Fuel Growth

The rocket and missile market is set for significant growth, fueled by increased military and defense expenditure, geopolitical tensions, arms race dynamics, and space exploration initiatives. The market size, which stood at $64.14 billion in 2024, is predicted to grow by 6.9% to reach $68.6 billion in 2025. Further growth is expected in the coming years, with the market forecasted to reach $87.97 billion by 2029 at a compound annual growth rate (CAGR) of 6.4%. This growth will be contributed by factors such as space tourism, lunar missions, emerging threats, increased commercial satellite deployment, and the commercialization of space.

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What Factors are Driving the Rocket and Missile Market Growth?
A surge in terrorism and geopolitical instabilities is a significant driver for growth in the rocket and missile market. Increased international land border security due to unlawful activities escalates the demand for rockets and missiles. According to the US Customs and Border Protection Enforcement Statistics 2022, enforcement action rose from 646,822 in 2020 to 2,493,721 in 2022. This escalation in action underlines the heightened geopolitical instability, which catalyzes rocket and missile market growth.

How is the Global Rocket and Missile Market Segmented?
– By Type: Missile, Rocket
– By Guidance Type: Guided, Self-Guided
– By Propulsion Type: Ramjet, Turbojet, Scramjet, Liquid Propulsion, Solid Propulsion, Hybrid Propulsion
– By Platform: Air-To-Air, Air-To-Surface, Surface-To-Air, Surface-To-Surface, Air-To-Marine, Marine-To-Air.

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Who Are the Major Players Operating in the Rocket and Missile Market?
Major companies operating in the rocket and missile market include Denel Dynamics (Pty) Ltd., General Dynamics Corporation, Kongsberg Defence & Aerospace AS, Lockheed Martin Corporation, MBDA Incorporated, Roketsan Roket Sanayii ve Ticaret A.S., Mesko S.A., Nordic Ammunition Company, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, Saab AB, Thales Group, Bharat Dynamics Limited, Aerojet Rocketdyne Holdings Inc., Hindustan Aeronautics Limited, Larsen & Toubro Ltd., Rostec State Corporation, Tactical Missiles Corporation, Almaz-Antey Concern, and many others.

What Emerging Trends are Shaping the Rocket and Missile Market?
Technological advancements in the rocket and missile market are a significant trend in the industry. Companies are developing advanced weaponry such as air missiles to increase sales and reach a larger customer base. In February 2023, Bharat Dynamics Limited, an India-based manufacturer of ammunition and missile systems, launched a series of advanced weaponry tackling diverse threats with efficiency and precision.

Which Regional Markets Recorded the Most Growth in the Rocket and Missile Market?
In 2024, North America was the largest region in the rocket and missile market. The report also covers other regions including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.

What Insights does The Rocket and Missile Market Report 2025 Provide?
The Rocket and Missile Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Rockets and Missiles refer to a category of military weapons system that uses rocket propulsion to deliver explosive warheads to their targets. They are also used to deliver scientific apparatus or humans to areas inaccessible by conventional transportation.

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