Rocket and Missiles Market Growth

OREGAON, PORTLAND, UNITED STATES , April 16, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Rocket and Missiles Market by Speed (Subsonic, Supersonic, Hypersonic), by Product (Cruise Missiles, Ballistic Missiles, Rockets, Torpedoes), by Guidance (Guided, Unguided), by Platform (Ground, Airborne, Naval): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global rocket and missiles industry generated $54.8 billion in 2021, and is anticipated to generate $82.0 billion by 2031, witnessing a CAGR of 4.2% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A09635

Rockets and missiles are heavy weapon systems designed to destroy any adversary's or terrorist group's missiles or rockets, including planes, tanks, artillery, ships, helicopters, armored vehicles, and other adversaries. Furthermore, rockets and missiles are designed to deliver an explosive warhead with high speed and accuracy. Such weapons are mostly used in military activities, particularly to defend their countries from any enemy assaults. The fundamental difference between a missile and a rocket is that missiles are self-propelled.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏

Based on region, North America held the highest market share in terms of revenue 2021, accounting for around two-fifths of the global rocket and missiles market. This is owing to increase in R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making advanced, reliable, precise, and efficient warfare, security, and defense systems. However, the Asia-Pacific region is expected to witness the fastest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟓.𝟓% from 2022 to 2031, owing to rise in procurement and development of advanced missile and rocket systems across several Asian nations, for instance, China, India, Japan, and South Korea.

𝐓𝐡𝐞 𝐜𝐫𝐮𝐢𝐬𝐞 𝐦𝐢𝐬𝐬𝐢𝐥𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on product, the cruise missiles segment held the highest market share in 2021, accounting for nearly half of the global rocket and missiles market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, this segment is projected to manifest the highest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟒.𝟗% from 2022 to 2031, owing to rise in demand and development of cruise missiles throughout the world.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/rocket-and-missiles-market/purchase-options

𝐓𝐡𝐞 𝐠𝐫𝐨𝐮𝐧𝐝 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on platform, the ground segment accounted for the largest share in 2021, contributing to nearly half of the global rocket and missiles market, and is projected to maintain its lead position during the forecast period. This is owing to high demand for ground-based rockets and missiles systems globally. However, the airborne segment is expected to portray the largest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟓.𝟒% from 2022 to 2031, owing to rise in investments to develop fast and accurate air-deployed rockets and missiles globally.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐨𝐜𝐤𝐞𝐭𝐬 𝐚𝐧𝐝 𝐦𝐢𝐬𝐬𝐢𝐥𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞
BAE Systems Plc,
Elbit Systems Ltd.,
Israel Aerospace Industries Ltd. (IAI),
Kongsberg Gruppen,
LIG Nex1,
Lockheed Martin Corporation,
Northrop Grumman Corporation,
Raytheon Technologies Corporation,
Saab AB,
Thales Group,
Boeing Company.

𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡

The increase in territorial conflicts, the rise in need for advanced rockets and missiles to counter the modern combat around the country's border, and the surge in defense budget of emerging economies drive the growth of the global rocket and missiles market. However, strict regulations related to arms use & transfer and high-cost associated with rocket and missile technology are the factors that are anticipated to hamper the market growth. Contrarily, the rise in the adoption of hypersonic missile systems and the preference for automatic target recognition (ATR) missile systems present new opportunities in the coming years.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A09635

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

★By speed, the hypersonic segment is expected to register a significant growth during the forecast period.
★On the basis of product, the cruise missiles segment is anticipated to exhibit significant growth in future.
★According to guidance, the guided segment is projected to lead the global rockets and missiles market.
★According to platform, the airborne segment is projected to lead the global rockets and missiles market.
★Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐨𝐩 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬

Nuclear Bombs and Missiles Market - https://www.alliedmarketresearch.com/nuclear-missiles-and-bombs-market-A10717

Hypersonic Missiles Market - https://www.alliedmarketresearch.com/hypersonic-missile-market-A14493

Missile Launching Systems Market - https://www.alliedmarketresearch.com/missile-launching-systems-market-A09626

Ballistic Missile Market - https://www.alliedmarketresearch.com/ballistic-missile-market-A10695

Rocket Launchpad Market - https://www.alliedmarketresearch.com/rocket-launchpad-market-A10831

David Correa
Allied Market Research
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