The report "Rocket and Missile
Market by Type (Missile,
Rocket), Launch Mode (Surface-to-Surface, Surface-to-Air, Air-to-Air,
Air-to-Surface, Subsea-to-Surface), Propulsion (Solid, Liquid, Hybrid,
Scramjet, Turbojet, Ramjet) & Region - Global Forecast to 2022", The rocket and missile market is projected to
grow from USD 55.53 Billion in 2017 to USD 70.00 Billion by 2022, at a CAGR of
4.74% during the forecast period. This growth can be attributed to the
increasing geopolitical conflicts, war, and terrorism, which are driving the
demand for rockets and missiles globally.
Browse 134 market data tables and 45 figures
spread through 182 pages and in-depth TOC on "Rocket and Missile Market - Global
Forecast to 2022"
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Based on type, the missile segment is projected
to lead the rocket and missile market during the forecast period.
Based on type, the rocket and missile market was dominated by the
missile segment in 2017 and is expected to continue its dominance till 2022.
Missiles are versatile weapons and can be fired in various modes, angles, and
platforms. To inflict maximum damage on adversaries, missiles are now equipped
with guidance technologies which enable them hit targets with precision.
Developing countries such as China and India, among others, are investing more
in ballistic missiles. These countries are investing more in advanced
technologies and focusing on manufacturing a wide range of offensive fighting
vehicles. For instance, in May 2017, China tested its DF-26 missile which can
attack aircraft carriers and air defense batteries with precision. India
recently signed a contract with Israel to acquire more than 275 launchers and
5,500 spike missiles. The deal includes transfer of technology to build another
1500 launchers and 30,000 missiles.
Based on launch mode, the surface-to-surface
segment is projected to grow at the highest CAGR during the forecast period.
The rocket and missile market has been analyzed and segmented
based on launch mode into surface-to-surface, surface-to-air, air-to-air,
air-to-surface, and subsea-to-surface. The rocket and missile market is
dominated by the surface-to-surface segment. This segment is projected to grow
at the highest CAGR during the forecast period, primarily driven by the upgrade
and modernization programs, procurement of cruise as well as ballistic
missiles, and use of advance guidance systems.
The U.S., China, and India are expected to be
lucrative markets for rockets and missiles.
The U.S., China, and India are expected to be the largest rocket
and missile markets in the coming years. The U.S. is estimated to dominate the
market during the forecast period. This rapid growth can be attributed to the
increasing research and development activities undertaken in the region for the
development of advanced technology-based designs of man portable warfare
systems. The China rocket and missile market is projected to grow at the
highest CAGR from 2017 to 2022. China has been investing heavily in the design
and development of guided man-portable air defense systems over the last five
years.
Major players in the rocket and missile market are 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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