# Rocket Missile Market

> Rocket and Missile Market Size, Share, Industry Trend & Analysis Research Report Information By Launch Mode (Surface-To-Surface, Surface-To-Air, Subsea-To-Surface, Air-To-Air and Air-To-Surface), Propulsion (Solid Propulsion, Liquid Propulsion, Hybrid Propulsion, Turbojet, Ramjet and Scramjet) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2035

- **Forecast Period:** 2025 - 2035
- **CAGR:** 8.56%
- **2024:** $ 9.1 Billion
- **2025:** $ 9.9 Billion
- **2035:** $ 22.5 Billion
- **Key Players:** Lockheed Martin (US), Northrop Grumman (US), Raytheon Technologies (US), BAE Systems (GB), Thales Group (FR), Rafael Advanced Defense Systems (IL), MBDA (GB), Kongsberg Gruppen (NO), Hanwha Defense (KR)

**Report ID:** MRFR/AD/8843-HCR · **Pages:** 167 · **Author:** Abbas Raut & Swapnil Palwe · **Last Updated:** April 06, 2026

**URL:** https://www.marketresearchfuture.com/reports/rocket-missile-market-10321

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## Market Summary

## **Rocket and Missile Market Overview**

The Rocket And Missiles Market size Anticipated to Reach At $54 Billion In 2021 Growing At A CAGR Of 5% From 2022 To 2030. rockets and missiles are the self-propelling weapons that are fired from surface to air, air to surface, or air to air. Rockets and missiles can have solid, liquid, hybrid, turbojet, ramjet, and scramjet propulsion system. The rockets and missiles can travel to more than 1,000 kilometers. Moreover, the [intercontinental ballistic missile](../../../reports/intercontinental-ballistic-missile-market-5927) can travel 5,500 kilometers. Hence the use of these weapons has been increasing from the last few years.

**Market Synopsis**

Global Rocket and Missile Market has witnessed high growth in recent years owing to the increasing defense expenditure, increasing cross border disputes, and increasing development of advanced weapon systems. However, the high development cost of rockets and missiles is expected to hinder the growth of the market to some extent.

**Market USP**

Development of guided missile systems

**Market Drivers**

**Market Opportunities**

**Recent News :**

**In April 2024,**

India conducted a test of the indigenous technology cruise missile (ITCM) from the Chandipur integrated test range, located off the coast of Odisha. The missile has a strike range of 1,000 kilometers. This subsonic long-range land-attack cruise missile, equipped with a canister-launch system, will eventually become a crucial component of the tri-service Integrated Rocket Force. This force is being established to enhance conventional combat capabilities and deterrent, without involving nuclear weapons. The missile's performance on Thursday was observed by multiple radars, electro-optical tracking systems, and telemetry sensors placed at various locations to ensure comprehensive monitoring of the flight trajectory.

The missile was propelled by the indigenous Manik turbofan engine, replacing the previous Russian engine. The trajectory of the missile, a modified version of the original Nirbhay missile equipped with domestic systems, was also tracked by Sukhoi-30MKI aircraft. The successful flight-test also confirmed the dependable performance of the domestically built propulsion system created by the Gas Turbine Research Establishment, Bengaluru. The missile is outfitted with state-of-the-art avionics and software to guarantee superior and dependable performance.

**In March 2024,** NASA initiated the launch of three sounding rockets to investigate the impact of temporary dimming of sunlight on a specific area of the Earth's upper atmosphere during the total solar eclipse on April 8, 2024. The Atmospheric Perturbations surrounding Eclipse Path (APEP) sounding rockets will be launched from NASA's Wallops Flight Facility in Virginia to investigate the disruptions in the ionosphere caused by the Moon blocking the Sun during an eclipse.

The sounding rockets were previously launched and successfully retrieved from White Sands Missile Range in New Mexico, during the annular solar eclipse in October 2023. The instruments have undergone refurbishment and will be reintroduced in April 2024. The sounding rockets were launched at three distinct intervals: 45 minutes prior to, during, and 45 minutes following the culmination of the local eclipse. It is crucial to gather data during these intervals to study the impact of the Sun's abrupt departure on the ionosphere, which can cause disruptions that may interfere with human communications.

**Key Players**

### Rocket Missile Market Industry Developments

- **Q2 2024: Lockheed Martin wins $4.5 billion U.S. Army contract for next-generation missile systems** Lockheed Martin was awarded a $4.5 billion contract by the U.S. Army to produce next-generation missile systems, including upgrades to the Precision Strike Missile (PrSM) program, aimed at enhancing long-range strike capabilities.
- **Q2 2024: Northrop Grumman opens new missile manufacturing facility in West Virginia** Northrop Grumman inaugurated a new state-of-the-art missile manufacturing facility in West Virginia, expanding its production capacity for advanced missile systems to meet growing defense demand.
- **Q2 2024: Rafael and Raytheon sign partnership to co-develop next-gen air defense missile** Israeli defense company Rafael and U.S.-based Raytheon announced a strategic partnership to co-develop a new generation of air defense missiles, targeting both domestic and international markets.
- **Q3 2024: India successfully tests Agni-Prime ballistic missile** India's Defence Research and Development Organisation (DRDO) announced the successful test launch of the Agni-Prime ballistic missile, marking a significant milestone in the country's indigenous missile development program.
- **Q3 2024: MBDA secures €1.2 billion contract to supply air defense missiles to Germany** European missile manufacturer MBDA signed a €1.2 billion contract to supply Germany with advanced air defense missile systems as part of the country's military modernization efforts.
- **Q3 2024: South Korea's Hanwha Aerospace wins $1 billion missile export deal with UAE** Hanwha Aerospace secured a $1 billion contract to export guided missile systems to the United Arab Emirates, strengthening South Korea's position in the global defense market.
- **Q4 2024: Aerojet Rocketdyne completes acquisition by L3Harris Technologies** Aerojet Rocketdyne announced the completion of its acquisition by L3Harris Technologies, creating a combined entity with expanded capabilities in rocket propulsion and missile systems.
- **Q4 2024: Japan's Mitsubishi Heavy Industries unveils new hypersonic missile prototype** Mitsubishi Heavy Industries revealed a prototype of its new hypersonic missile, designed for rapid deployment and enhanced maneuverability, as part of Japan's defense modernization strategy.
- **Q1 2025: U.S. Department of Defense awards $2.1 billion missile contract to Raytheon** Raytheon Technologies received a $2.1 billion contract from the U.S. Department of Defense to supply advanced missile systems for both domestic and allied military forces.
- **Q1 2025: Thales launches new surface-to-air missile system for export markets** Thales Group announced the launch of its latest surface-to-air missile system, targeting export markets in Asia and the Middle East, with enhanced targeting and countermeasure capabilities.
- **Q2 2025: BAE Systems appoints new CEO to lead missile and rocket division** BAE Systems named a new CEO for its missile and rocket division, signaling a strategic focus on innovation and international expansion in advanced weaponry.
- **Q2 2025: Kongsberg signs $475 million contract to deliver Naval Strike Missiles to U.S. Navy** Kongsberg Defence & Aerospace secured a $475 million contract to supply its Naval Strike Missile system to the U.S. Navy, supporting fleet modernization and enhanced maritime strike capabilities.

**Segmentation**

**By Launch Mode**

**By Propulsion**

**By Region**

## Market Drivers

### Geopolitical Instability

The Rocket Missile Market is significantly influenced by geopolitical instability and regional conflicts. Ongoing tensions in various parts of the world, such as the Middle East and Eastern Europe, have heightened the need for advanced missile systems. Countries facing security threats are increasingly investing in missile technology to bolster their defense capabilities. For instance, recent military conflicts have prompted nations to enhance their missile arsenals, leading to a surge in procurement activities. This environment of uncertainty and potential conflict is likely to sustain demand for rocket missiles, as nations prioritize their defense strategies. Consequently, the Rocket Missile Market is poised for growth as countries respond to evolving security challenges.

### Increased Defense Budgets

The Rocket Missile Market is experiencing a notable surge in defense budgets across various nations. Governments are prioritizing military spending to enhance their defense capabilities, which includes the procurement of advanced missile systems. For instance, recent reports indicate that defense budgets in several countries have increased by an average of 5 to 10 percent annually. This trend is likely to continue as nations seek to modernize their armed forces and address emerging threats. The emphasis on national security and the need for deterrence strategies are driving investments in missile technology, thereby propelling the growth of the Rocket Missile Market. As countries allocate more resources to defense, the demand for sophisticated rocket missiles is expected to rise, creating opportunities for manufacturers and suppliers in this sector.

### Technological Innovations

Technological advancements play a crucial role in shaping the Rocket Missile Market. The integration of cutting-edge technologies such as artificial intelligence, precision guidance systems, and advanced propulsion mechanisms is revolutionizing missile capabilities. These innovations enhance accuracy, range, and effectiveness, making modern missile systems more formidable. For example, the development of hypersonic missiles, which can travel at speeds exceeding Mach 5, is gaining traction among military forces. This shift towards high-tech solutions is likely to attract significant investments in research and development, further stimulating the Rocket Missile Market. As nations strive to maintain a competitive edge, the continuous evolution of missile technology is expected to drive demand and foster growth in this sector.

### Modernization of Armed Forces

The modernization of armed forces is a key driver of the Rocket Missile Market. Many nations are undertaking comprehensive military modernization programs aimed at upgrading their existing missile systems and acquiring new technologies. This trend is particularly evident in countries seeking to replace outdated equipment with state-of-the-art missile systems that offer enhanced capabilities. Reports suggest that several nations are investing billions in modernization efforts, which include the development of next-generation missile systems. As military forces adapt to contemporary warfare requirements, the demand for advanced rocket missiles is expected to rise. This modernization drive not only strengthens national defense but also propels the growth of the Rocket Missile Market.

### Emerging Threats and Security Challenges

The Rocket Missile Market is increasingly shaped by emerging threats and evolving security challenges. As new forms of warfare and asymmetric threats arise, nations are compelled to reassess their defense strategies. The proliferation of missile technology among non-state actors and rogue states poses significant risks, prompting countries to enhance their missile capabilities. For instance, the rise of cyber warfare and the potential for missile attacks from unconventional sources have led to a reevaluation of defense priorities. In response, governments are likely to invest in advanced missile systems to counter these threats effectively. This focus on addressing emerging security challenges is expected to drive demand within the Rocket Missile Market, as nations seek to ensure their preparedness against a diverse range of threats.

## Future Outlook

The Rocket Missile Market is projected to grow at an 8.56% CAGR from 2025 to 2035, driven by technological advancements, increased defense budgets, and geopolitical tensions.

**New opportunities:**

- Development of advanced propulsion systems for enhanced range and accuracy.
- Integration of AI for real-time targeting and decision-making capabilities.
- Expansion into emerging markets with tailored missile solutions.

By 2035, the market is expected to solidify its position as a critical component of global defense strategies.

## Segment Insights

### By Application: Military (Largest) vs. Civil (Fastest-Growing)

The Rocket Missile Market's application segment is defined by its distinct classifications: Military, Civil, Research, and Commercial. The Military sector commands the largest share of the market, reflecting global defense spending and increased geopolitical tensions. This dominance comes from ongoing military investments in advanced missile systems, driven by the need for enhanced operational capabilities and deterrence strategies. Conversely, the Civil segment is observed to be the fastest-growing, as more governments and agencies explore rocket technology applications for non-military purposes, such as space exploration and satellite deployment.

Military (Dominant) vs. Civil (Emerging)

The Military application within the Rocket Missile Market remains dominant due to the substantial investments made by nations in developing sophisticated missile defense systems and offensive capabilities. This segment's growth is propelled by ongoing conflicts and a focus on national security. In contrast, the Civil application represents an emerging sector that is quickly gaining traction, fueled by advancements in technology and an increasing recognition of the role that rocket launches play in scientific research and commercial satellite deployment. While the Military segment focuses on defense and deterrence, the Civil segment is more about innovation and exploration, positioning it as a complementary force in the overall market.

### By End Use: Defense Forces (Largest) vs. Government Agencies (Fastest-Growing)

In the Rocket Missile Market, the End Use segmentation reveals that Defense Forces hold the largest share, primarily driven by national security needs and military readiness. As global tensions rise, the investment in missile technology by defense sectors remains substantial, establishing them as the backbone of the market. Meanwhile, Government Agencies are rapidly gaining ground, exhibiting the fastest growth rate as they increasingly focus on defensive and strategic capabilities, leading to heightened demand for advanced missile systems.

End Use: Defense Forces (Dominant) vs. Government Agencies (Emerging)

The Defense Forces segment of the Rocket Missile Market signifies a dominant force, driven by expansive budgets and a focus on modernization. This segment benefits from established procurement processes, influencing technology adoption and leading innovation in missile systems. Conversely, Government Agencies represent an emerging segment, with governments investing more in advanced missiles for national defense and security. This segment is characterized by partnerships with private contractors to develop specialized missile solutions, catering to evolving threats and expanding operational capabilities. Both segments are critical to the market, contributing to advancements in missile technology and strategic defense initiatives.

### By Type: Ballistic Missile (Largest) vs. Cruise Missile (Fastest-Growing)

The Rocket Missile Market is prominently segmented into four main types: Ballistic Missiles, Cruise Missiles, Tactical Missiles, and Strategic Missiles. Among these, Ballistic Missiles hold the largest share, largely due to their long-range capabilities and established deployment systems. In contrast, Cruise Missiles, thanks to their precision targeting and versatility, are rapidly gaining traction, making them the fastest-growing segment in the market. Understanding the dynamics between these missile types is crucial for stakeholders aiming to leverage growth opportunities.

As military strategies evolve, the demand for various missile types is influenced by technological advancements and geopolitical tensions. Ballistic Missiles are favored for their strategic advantages, while the increasing conflicts and dynamic air operations boost the adoption of Cruise Missiles, leading to their accelerated growth. Furthermore, the focus on modernizing defense systems and enhancing military preparedness drives innovation and investment within these segments, reflecting a shifting paradigm in warfare methodologies.

Ballistic Missile (Dominant) vs. Tactical Missile (Emerging)

Ballistic Missiles are known for their capacity to deliver payloads over long distances, often utilizing ballistic trajectories which makes them dominant in strategic military applications. They are a cornerstone of national defense strategies, offering substantial deterrence capabilities. On the other hand, Tactical Missiles are emerging as a critical component of modern warfare, designed for short-range engagement scenarios. Their effectiveness in battlefield environments and adaptability to swift operational needs make them increasingly relevant. The integration of technological advancements in guidance systems enhances their precision and responsiveness, positioning Tactical Missiles as a vital asset for tactical operations. Consequently, the growing focus on rapid response and battlefield versatility underscores their rising prominence in the missile market.

### By Launch Platform: Land-Based (Largest) vs. Sea-Based (Fastest-Growing)

The rocket missile market is predominantly driven by land-based launch platforms, which account for the largest share due to their strategic advantages in military applications and range capabilities. Sea-based platforms are rapidly gaining traction, as they offer flexibility and can be deployed in diverse maritime environments, which makes them essential for modern naval operations. This increasing reliance on sea-based systems is indicative of a broader trend in defense strategies worldwide.

Growth in the rocket missile market is amplified by technological advancements and a rising demand for versatile launch platforms. With emerging geopolitical tensions, nations are investing in advanced missile systems across all platforms, particularly with sea-based systems being prioritized for their rapid mobility. Investments in R&D are expected to further enhance the operational efficiency and effectiveness of these launch platforms, providing significant growth opportunities in the coming years.

Land-Based (Dominant) vs. Air-Based (Emerging)

Land-based launch platforms are recognized as the dominant segment in the rocket missile market, primarily due to their reliability and established infrastructure. These systems are designed to deliver precision strikes and are often integrated with advanced targeting technologies, ensuring effectiveness in various military operations. On the other hand, air-based launch platforms are seen as emerging contenders, leveraging rapid deployment and versatility in targeting. These platforms can operate from a range of aircraft, offering a strategic edge in missile deployment. The technological advancements in air-based systems, coupled with increasing investments, position them to gain market share as nations seek to enhance their aerial capabilities.

### By Guidance System: GPS Guidance (Largest) vs. Inertial Guidance (Fastest-Growing)

The Rocket Missile Market showcases a diverse range of guidance systems, with GPS Guidance currently holding the largest market share. It is renowned for its precision and reliability in various conditions, making it the go-to choice for many missile systems. Inertial Guidance, while holding a smaller share, is experiencing rapid growth due to its ability to function without external signals, making it vital for operations in contested environments.

Guidance Systems: GPS (Dominant) vs. Inertial (Emerging)

GPS Guidance is recognized as the dominant force in the Rocket Missile Market, owing to its unmatched accuracy and adaptability for modern warfare. This guidance system offers real-time location data, ensuring missiles strike their intended targets with high efficiency. On the other hand, Inertial Guidance is emerging as a critical technology that uses internal sensors to track the missile's position, allowing for greater autonomy and operational flexibility, particularly in environments where GPS signals may be disrupted. Together, these systems represent the duality of reliance on satellite support and the push for self-sufficient technologies.

## Regional Market Share Analysis

### North America : Defense Innovation Leader

North America continues to lead the rocket missile market, holding a significant share of 4.55 in 2024. The region's growth is driven by increased defense budgets, technological advancements, and a focus on modernization of military capabilities. Regulatory support from government initiatives further catalyzes demand, ensuring that North America remains at the forefront of missile technology development.

The competitive landscape is characterized by major players such as Lockheed Martin, Northrop Grumman, and Raytheon Technologies, which dominate the market. These companies are heavily invested in R&D, leading to innovative solutions that meet evolving defense needs. The U.S. government’s commitment to enhancing national security through advanced missile systems solidifies the region's position as a global leader in the rocket missile sector.

### Europe : Strategic Defense Collaborations

Europe's rocket missile market is projected to grow, with a market size of 2.73 in 2024. The region benefits from strategic collaborations among NATO countries, which enhance defense capabilities and foster innovation. Regulatory frameworks are increasingly supportive, promoting joint ventures and technology sharing, which are crucial for meeting the rising defense demands in Europe.

Leading countries such as the UK, France, and Germany are at the forefront of this market, with key players like BAE Systems and Thales Group driving advancements. The competitive landscape is marked by a focus on developing next-generation missile systems, ensuring that European nations can effectively respond to emerging threats. The emphasis on collaborative defense initiatives further strengthens the region's market position.

### Asia-Pacific : Emerging Defense Market

The Asia-Pacific region is witnessing rapid growth in the rocket missile market, with a size of 1.82 in 2024. This growth is fueled by increasing military expenditures, regional tensions, and a focus on indigenous defense production. Countries are investing heavily in modernizing their armed forces, which is driving demand for advanced missile systems and technologies.

Key players in this region include Hanwha Defense and Kongsberg Gruppen, which are expanding their presence through partnerships and local manufacturing. Nations like India, South Korea, and Japan are leading the charge in missile development, focusing on enhancing their defense capabilities. The competitive landscape is evolving, with a strong emphasis on innovation and technological advancements to meet the unique security needs of the region.

### Middle East and Africa : Emerging Defense Sector

The Middle East and Africa region represents a nascent market for rocket missiles, with a size of 0.1 in 2024. Despite its smaller market share, there is significant potential for growth driven by geopolitical tensions and increasing defense budgets. Countries in this region are recognizing the need to enhance their military capabilities, leading to a gradual rise in demand for missile systems.

Key players are beginning to establish a foothold in this market, with local defense companies exploring partnerships with global firms. Nations such as the UAE and Saudi Arabia are investing in advanced military technologies, aiming to bolster their defense strategies. The competitive landscape is still developing, but the focus on modernization presents opportunities for growth in the rocket missile sector.

## Competitive Benchmarking

The Rocket Missile Market is characterized by a dynamic competitive landscape, driven by technological advancements, geopolitical tensions, and increasing defense budgets across various nations. Key players such as Lockheed Martin (US), Northrop Grumman (US), and Raytheon Technologies (US) are at the forefront, each adopting distinct strategies to enhance their market positioning. Lockheed Martin (US) emphasizes innovation through its investment in advanced missile systems, while Northrop Grumman (US) focuses on strategic partnerships to bolster its capabilities. Raytheon Technologies (US) is actively pursuing digital transformation initiatives to streamline operations and improve product offerings. Collectively, these strategies contribute to a competitive environment that is increasingly focused on technological superiority and operational efficiency.In terms of business tactics, companies are localizing manufacturing to reduce costs and enhance supply chain resilience. This approach is particularly evident in regions with burgeoning defense sectors, where firms are establishing production facilities to cater to local demands. The market structure appears moderately fragmented, with several key players exerting influence, yet the presence of emerging companies is gradually reshaping the competitive dynamics. The collective actions of these major firms indicate a trend towards consolidation, as they seek to leverage synergies and enhance their competitive edge.

In November  Lockheed Martin (US) announced a strategic partnership with a leading technology firm to develop next-generation missile systems that integrate artificial intelligence (AI) capabilities. This collaboration is poised to enhance Lockheed Martin's product offerings, enabling more precise targeting and improved operational efficiency. The integration of AI into missile systems is likely to redefine operational paradigms, positioning Lockheed Martin as a leader in innovative defense solutions.

In October  Northrop Grumman (US) secured a multi-million dollar contract with the U.S. Department of Defense to supply advanced missile defense systems. This contract not only underscores Northrop Grumman's robust capabilities but also reflects the increasing demand for sophisticated defense solutions amid rising global tensions. The financial implications of this contract are substantial, potentially enhancing Northrop Grumman's market share and reinforcing its strategic position in the sector.

In September  Raytheon Technologies (US) unveiled a new missile system designed for enhanced interoperability with allied forces. This development is indicative of Raytheon's commitment to fostering international partnerships and ensuring that its products meet the evolving needs of global defense strategies. The emphasis on interoperability may facilitate collaborative defense efforts, thereby strengthening Raytheon's competitive stance in the market.

As of December  the Rocket Missile Market is witnessing trends that emphasize digitalization, sustainability, and AI integration. Strategic alliances are increasingly shaping the competitive landscape, as companies recognize the value of collaboration in driving innovation. The shift from price-based competition to a focus on technological advancement and supply chain reliability is becoming evident. Moving forward, competitive differentiation will likely hinge on the ability to innovate and adapt to emerging technologies, positioning firms that prioritize these aspects at the forefront of the market.

## Recent News & Developments

- **Q2 2024: Lockheed Martin wins $4.5 billion U.S. Army contract for next-generation missile systems** Lockheed Martin was awarded a $4.5 billion contract by the U.S. Army to produce next-generation missile systems, including upgrades to the Precision Strike Missile (PrSM) program, aimed at enhancing long-range strike capabilities.
- **Q2 2024: Northrop Grumman opens new missile manufacturing facility in West Virginia** Northrop Grumman inaugurated a new state-of-the-art missile manufacturing facility in West Virginia, expanding its production capacity for advanced missile systems to meet growing defense demand.
- **Q2 2024: Rafael and Raytheon sign partnership to co-develop next-gen air defense missile** Israeli defense company Rafael and U.S.-based Raytheon announced a strategic partnership to co-develop a new generation of air [defense](https://www.marketresearchfuture.com/reports/defense-electronics-market-12379) missiles, targeting both domestic and international markets.
- **Q3 2024: India successfully tests Agni-Prime ballistic missile** India's Defence Research and Development Organisation (DRDO) announced the successful test launch of the Agni-Prime ballistic missile, marking a significant milestone in the country's indigenous missile development program.
- **Q3 2024: MBDA secures €1.2 billion contract to supply air defense**[**missiles**](https://www.marketresearchfuture.com/reports/missiles-missile-defense-systems-market-16124)**to Germany** European missile manufacturer MBDA signed a €1.2 billion contract to supply Germany with advanced air defense missile systems as part of the country's military modernization efforts.
- **Q3 2024: South Korea's Hanwha Aerospace wins $1 billion missile export deal with UAE** Hanwha Aerospace secured a $1 billion contract to export guided missile systems to the United Arab Emirates, strengthening South Korea's position in the global defense market.
- **Q4 2024: Aerojet Rocketdyne completes acquisition by L3Harris Technologies** Aerojet Rocketdyne announced the completion of its acquisition by L3Harris Technologies, creating a combined entity with expanded capabilities in rocket propulsion and missile systems.
- **Q4 2024: Japan's Mitsubishi Heavy Industries unveils new hypersonic missile prototype** Mitsubishi Heavy Industries revealed a prototype of its new hypersonic missile, designed for rapid deployment and enhanced maneuverability, as part of Japan's defense modernization strategy.
- **Q1 2025: U.S. Department of Defense awards $2.1 billion missile contract to Raytheon** Raytheon Technologies received a $2.1 billion contract from the U.S. Department of Defense to supply advanced missile systems for both domestic and allied military forces.
- **Q1 2025: Thales launches new surface-to-air missile system for export markets** Thales Group announced the launch of its latest surface-to-air missile system, targeting export markets in Asia and the Middle East, with enhanced targeting and countermeasure capabilities.
- **Q2 2025: BAE Systems appoints new CEO to lead missile and rocket division** BAE Systems named a new CEO for its missile and rocket division, signaling a strategic focus on innovation and international expansion in advanced weaponry.
- **Q2 2025: Kongsberg signs $475 million contract to deliver Naval Strike Missiles to U.S. Navy** Kongsberg Defence & Aerospace secured a $475 million contract to supply its Naval Strike Missile system to the U.S. Navy, supporting fleet modernization and enhanced maritime strike capabilities.

**Segmentation**

**By Launch Mode**

- **Surface-To-Surface**: This segment accounted for the largest market share in 2019 and is expected to register a steady CAGR during the forecast period. The surface-to-surface rockets and missiles are conventional weapons and thus are primarily used by the military forces.
- **Air-To-Surface**: The segment is expected to register the highest CAGR during the review period. The increasing use of guided missiles that are launched by fighter jets and helicopters is expected to drive the growth of this segment.
- **Surface-To-Air**: The segment accounted for the second-largest market share in 2019. This can be attributed to the increasing use of surface-to-air missiles for destroying enemy aircraft.

**By Propulsion**

- **Solid Propulsion**: The segment dominated the rocket and missile market in 2019. This is due to the wide use of solid-state propulsion systems in rockets.
- **Hybrid Propulsion**: The segment is expected to register the highest CAGR during the forecast period. This is due to the increasing demand for hybrid propulsion systems for [intercontinental ballistic missiles](../../../reports/intercontinental-ballistic-missile-market-5927).
- **Turbojet**: The segment is expected to witness steady growth during the forecast period, 2019 to 2026. The turbojet propulsion systems are widely used in missiles.

**By Region**

- **North America**: North America dominates the rocket and missile market and is projected to continue to do so throughout the forecast period. The increasing adoption of rocket and missile by the US and Canada for performing military missions are expected to drive the growth of the regional market.
- **Europe**: Europe accounted for the second-largest market share in 2019 primarily due to the presence of prominent players, such as Kongsberg Gruppen ASA, Thales Group, MBDA Holdings SAS, and Saab AB, and increasing investments by these companies in developing advanced rockets and missiles.
- **Asia-Pacific**: The market in this region is projected to expand at a high CAGR during the forecast period. Increasing defense expenditure and rising terrorist activities in India, Indonesia, and Australia are driving the growth of the regional market.
- **Middle East & Africa**: The increasing defense expenditures by countries such as Saudi Arabia, the UAE, and Israel is driving the growth of the rocket and missile market in the Middle East & Africa.
- **Latin America**: An increase in the use of advanced weapon systems by the defense organizations in Brazil and Mexico is also expected to boost the demand for rockets and missiles in the region.

## Report Scope

| MARKET SIZE 2024 | 9.1(USD Billion) |
| --- | --- |
| MARKET SIZE 2025 | 9.9(USD Billion) |
| MARKET SIZE 2035 | 22.5(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 8.56% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| Market Forecast Period | 2025 - 2035 |
| Historical Data | 2019 - 2024 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Lockheed Martin (US), Northrop Grumman (US), Raytheon Technologies (US), BAE Systems (GB), Thales Group (FR), Rafael Advanced Defense Systems (IL), MBDA (GB), Kongsberg Gruppen (NO), Hanwha Defense (KR) |
| Segments Covered | Application, Type, Launch Platform, Guidance System, Range |
| Key Market Opportunities | Advancements in precision-guided munitions enhance operational effectiveness in the Rocket Missile Market. |
| Key Market Dynamics | Technological advancements and geopolitical tensions drive innovation and competition in the rocket missile market. |
| Countries Covered | North America, Europe, APAC, South America, MEA |

## Frequently Asked Questions

**Q: What is the projected market valuation of the Rocket Missile Market by 2035?**
A: The Rocket Missile Market is projected to reach a valuation of 22.5 USD Billion by 2035.

**Q: What was the market valuation of the Rocket Missile Market in 2024?**
A: In 2024, the Rocket Missile Market had a valuation of 9.1 USD Billion.

**Q: What is the expected CAGR for the Rocket Missile Market during the forecast period 2025 - 2035?**
A: The expected CAGR for the Rocket Missile Market during the forecast period 2025 - 2035 is 8.56%.

**Q: Which companies are considered key players in the Rocket Missile Market?**
A: Key players in the Rocket Missile Market include Lockheed Martin, Northrop Grumman, Raytheon Technologies, Boeing, Thales Group, MBDA, Rafael Advanced Defense Systems, Kongsberg Gruppen, and Saab AB.

**Q: What are the projected values for the Military segment by 2035?**
A: The Military segment of the Rocket Missile Market is projected to reach between 3.5 and 8.5 USD Billion by 2035.

**Q: How does the projected valuation for the Civil segment compare to the Military segment by 2035?**
A: By 2035, the Civil segment is expected to reach between 2.0 and 5.0 USD Billion, which is lower than the Military segment's projected range.

**Q: What is the anticipated growth for the Tactical Missile segment by 2035?**
A: The Tactical Missile segment is projected to grow to between 2.0 and 5.0 USD Billion by 2035.

**Q: What is the expected valuation for the Air-Based launch platform by 2035?**
A: The Air-Based launch platform is expected to reach a valuation between 2.73 and 6.45 USD Billion by 2035.

**Q: What guidance system is projected to have the highest valuation by 2035?**
A: The Active Radar Guidance system is projected to have the highest valuation, reaching between 3.1 and 8.0 USD Billion by 2035.

**Q: What is the projected value for the Government Agencies segment by 2035?**
A: The Government Agencies segment is projected to reach between 2.0 and 5.0 USD Billion by 2035.


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*This Markdown endpoint is provided for AI systems and LLM crawlers. For the full interactive report visit https://www.marketresearchfuture.com/reports/rocket-missile-market-10321*