Aug 31, 2022, 10:55 EST
Shibuya-ku, Tokyo, Japan, Japan, Aug 31, 2022, 10:55 /Comserve / -- 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% from 2022-2031.
“Increasing threat from aerial combat platforms and requirement of long range and high speed missiles are the major factors driving the rocket and missile market globally”.
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% from 2022-2031. This market is driven by several factors, such as rising number of geopolitical conflicts, wars and cross-border disputes, rise of asymmetric warfare, and increasing military use of offensive weapons for tactical operations. However, high cost involved in the development of missile systems and the declining defense budgets of developed countries may restrain the growth of the rocket and missile market in the U.S., the U.K., France, and Germany.
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“Ballistic missile type segment projected to grow at the highest CAGR during the forecast period”
Based on missile type, the rocket and missile market has been segmented into cruise missile and ballistic missile. The ballistic missile segment is projected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the increasing demand for Surface-to-Air Missiles (SAMs) and huge investments made for the procurement of ballistic missiles by armed forces across the globe.
“Asia-Pacific market to grow at the highest CAGR during the forecast period”
The Asia-Pacific rocket and missile market is projected to grow at the highest CAGR during the forecast period. In the Asia-Pacific region, the rocket and missile market in China is projected to grow at the highest CAGR during the forecast period, owing to technological advancements, rising incidences of armed conflict, and war against terrorism. The increasing demand for military equipment from emerging nations and rising terrorist activities in South Asia are some of the factors fueling the demand for rockets and missiles in the region. China is also one of the largest exporters and manufacturers of defense systems. In February 2017, China showcased its DF-16 missile, which is a medium-range ballistic missile with an operational range of 1,000 km. Countries such as the U.S., India, and Japan face an increasing threat from China due to its growing capability in missiles and rockets.
Break-up of profile of primary participants of the rocket and missile market:
• By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C level – 45%, Manager level – 25% , Others – 30%
• By Region: North America – 10%, Europe – 20%, APAC – 50%, RoW – 20%
Major companies profiled in the report 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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This report presents a complete analysis of the rocket and missile market during the forecast period. The rocket and missile market has been broadly classified on the basis of type (missile, rocket), launch mode (surface-to-surface (SSM), surface-to-air (SAM), air-to-air (AAM), air-to-surface (ASM), subsea-to-surface (SuSM)), propulsion (solid, liquid, hybrid, scramjet, turbojet, ramjet), and region.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analysis —industry analysis, vendor dive analysis, company profiles and business strategy of top players, which together comprise and discuss basic views on competitive landscape, emerging and high-growth segments of the rocket and missile market, high-growth regions and countries, and their respective regulatory policies, government initiatives, and market drivers, restraints, and opportunities.
The report provides insights into the following pointers:
• Market Penetration: Comprehensive information on rockets and missiles offered by the top 10 players in the rocket and missile market
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the rocket and missile market
• Market Development: Comprehensive information about lucrative markets - the report analyzes markets for rockets and missiles across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the rocket and missile market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the rocket and missile market.
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