Dublin, Feb. 07, 2022 (GLOBE NEWSWIRE) -- The "Rockets and Missiles Market by Speed (Subsonic, Supersonic, Hypersonic), Product, Propulsion Type (Solid, Liquid, Hybrid Propulsion, Ramjet, Turbojet and Scramjet), Guidance Mechanism (Guided and Unguided), Launch Platform & Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global Rockets and Missiles market size is projected to grow from USD 58.3 billion in 2021 to USD 73.8 billion by 2026, at a CAGR of 4.8% from 2021 to 2026.
The Rockets and Missiles market is expected to witness growth due to a consistent increase in defense budget across the globe and the need for advanced Rockets and Missiles to counter the modern combat around the country's border. Furthermore, the increasing number of conflicts and high defense spending are some of the major factors driving the market globally.
Governments of various countries, such as the US, China, India, and Russia, are spending heavily on modernizing their military resources. Thus, a large number of weapon manufacturers are shifting their focus towards developing precision-guided munitions. However, issues related to the integration of missiles pose a challenge for Rockets and Missiles market growth.
Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), BAE Systems (UK), and Thales Group (France) are some of the leading players operating in the Rockets and Missiles market. These companies secure contracts from governments of different countries to carry out various Rockets and Missiles programs.
The missile segment is projected to grow at the highest CAGR rate for the rockets and missiles market during the forecast period
A missile plays an important role in rockets and missiles majorly for land, air, and marine platforms. The missile segment has been further sub-segmented further segmented into cruise missiles and ballistic missiles. The missile segment is projected to reach USD 57.1 billion by 2026. In the Asia Pacific region, this segment is projected to register the highest CAGR during the forecast period.
The hypersonic segment is projected to register the highest CAGR during the forecast period
Based on speed, the rockets and missiles market has been segmented into subsonic, supersonic, and hypersonic. Hypersonic rockets and missiles are equipped with a propulsion system to enable them to attain a speed of Mach 5 or higher, which is five times faster than the speed of sound. Hypersonic precision-guided weapons are difficult to counter due to their high speed. Currently, these weapons are in a development phase and are expected to be operational in the near future.
The solid propulsion segment is projected to grow at the highest CAGR rate for the rockets and missiles market during the forecast period
Based on propulsion type, the rockets and missiles market has been segmented into Solid, Liquid, Hybrid Propulsion, Ramjet, Turbojet and Scramjet. Solid propulsion uses solid propellants to boost missiles and rockets. Solid propellants consist of a homogenous mixture of various composites, which are easier to store and handle. These systems cost less and offer a large amount of thrust to the missiles. High-performance propellants and modified grains enhance the capability of solid propulsion.
By launch mode, the surface-to-surface segment is estimated to account for the largest share (21) of the rockets and missiles market in 2021
Based on launch mode, the rockets and missiles market has been segmented into surface to surface, surface to air, air to air, air to surface, and subsea to surface. Surface to surface rockets and missiles are fired from the ground or the sea. They can be launched from hand-held or vehicle-mounted devices or fixed installations. These missiles used in land warfare operations are designed to hit ground or sea targets. Hence, they are also known as ground to ground rockets and missiles.
The North American market is projected to contribute the largest share from 2021 to 2026
North America is projected to be the largest regional share of rockets and missiles market during the forecast period. Major companies such as Northrop Grumman Corporation, Lockheed Martin, Raytheon Technologies, and General Dynamics Corporation are based in the US. These players continuously invest in the R&D of new and advanced technology used in the missile defense system.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Rockets and Missiles Market
4.2 Rockets and Missiles Market, by Propulsion Type
4.3 Rockets and Missiles Market, by Product
4.4 Rockets and Missiles Market, by Launch Mode
4.5 Rockets and Missiles Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Defense Programs to Secure Nations Against Various Threats
5.2.1.2 Increasing Defense Expenditure of Emerging Economies
5.2.1.3 Heavy Investments in Indigenous Missile Defense Systems
5.2.1.4 Increasing Need for Missile Detection Systems
5.2.1.5 Changing Nature of Warfare
5.2.2 Restraints
5.2.2.1 Stringent Regulations for Arms Transfer
5.2.2.2 High Complexity and Requirement of Periodic Maintenance of Rockets and Missiles
5.2.2.3 High Development Cost of Missile Systems
5.2.3 Opportunities
5.2.3.1 Miniaturization of Missiles and Their Components
5.2.3.2 Rising Adoption of Ai in Military Operations
5.2.3.2.1 Ai in Missile Defense Testing and Operations
5.2.3.3 Development of New-Generation Air and Missile Defense Systems
5.2.3.4 Development of Hybrid Rockets and Missiles
5.2.4 Challenges
5.2.4.1 Integration Issues of Larger Rockets and Missiles
5.3 Covid-19 Impact on Rockets and Missiles Market
5.4 Ranges and Scenarios
5.5 Value Chain Analysis of Rockets and Missiles Market
5.6 Trends/Disruption Impacting Customer Business
5.6.1 Revenue Shift and New Revenue Pockets for Rockets and Missiles Manufacturers
5.7 Rockets and Missiles Market Ecosystem
5.7.1 Prominent Companies
5.7.2 Private and Small Enterprises
5.7.3 Ecosystem
5.7.4 Demand-Side Impacts
5.7.4.1 Key Developments from January 2020 to November
5.7.5 Supply-Side Impact
5.7.5.1 Key Developments from January 2021 to December
5.8 Pricing Analysis
5.9 Porter'S Five Forces Analysis
5.9.1 Threat of New Entrants
5.9.2 Threat of Substitutes
5.9.3 Bargaining Power of Suppliers
5.9.4 Bargaining Power of Buyers
5.9.5 Intensity of Competitive Rivalry
5.10 Regulatory Landscape
5.10.1 North America
5.10.2 Europe
5.10.3 Asia-Pacific
6 Industry Trends
6.1 Introduction
6.2 Technology Analysis
6.2.1 Next Generation Interceptor (Ngi) Program
6.2.2 Hypersonic Defense Systems
6.2.3 Development of Defense Technology
6.2.4 Anti-Satellite Missiles & Weapons
6.2.5 Smart E-Bombs & Hypersonic Munition
6.2.6 Advanced Tactical Data Links
6.2.7 Next-Generation Target Locking Technology
6.2.8 Infrared Technology
6.2.9 Fiber-Optic Guidance Systems
6.2.10 Network-Enabled Weapons
6.2.11 Hybrid Guidance Systems
6.2.12 Semi-Active Laser (Sal) Guidance Systems
6.2.13 Automatic Target Recognition (Atr)
6.3 Use Case Analysis
6.3.1 Use Case: Missile
6.4 Impact of Megatrends
6.4.1 Next-Generation Missile Seekers
6.4.2 Active Phased Array Radar (Apar)
6.5 Innovations and Patent Registrations
7 Rockets and Missiles Market, by Product
7.1 Introduction
7.2 Missiles
7.2.1 Cruise Missiles
7.2.1.1 Short Range (<300 Km)
7.2.1.2 Medium Range (300-1000 Km)
7.2.1.3 Long Range (>1000 Km)
7.2.2 Ballistic Missiles
7.2.2.1 Short Range Ballistic Missiles (Srbm)
7.2.2.2 Medium Range Ballistic Missiles (Mrbm)
7.2.2.3 Intermediate Range Ballistic Missiles (Irbm)
7.2.2.4 Intercontinental Ballistic Missiles (Icbm)
7.3 Rockets
7.3.1 Increasing Effectiveness of Overall Combat Platform Drives Market
7.3.2 Artillery Rockets
7.3.2.1 Shoulder-Fired Rockets
7.3.3 Multiple Launch Rocket Systems (Mlrs)
7.4 Torpedoes
7.4.1 Modern and Advanced Submarine Torpedoes Influence Market Demand
8 Rockets and Missiles Market, by Speed
8.1 Introduction
8.2 Subsonic
8.2.1 Subsonic Speed Munitions Play Key Role in Modern Warfare
8.3 Supersonic
8.3.1 Increased Demand and Integration for Supersonic Munitions Due to High Capabilities
8.4 Hypersonic
8.4.1 Highly Advanced Hypersonic Weapons is Expected to Boost the Market
9 Rockets and Missiles Market, by Propulsion Type
9.1 Introduction
9.2 Solid Propulsion
9.2.1 Lower Operational Cost and High Thrust Drives Demand for Solid Propulsion
9.3 Liquid Propulsion
9.3.1 Prithvi, Scud, Rsm - Widley Procured Missiles That Use Liquid Propulsion
9.4 Hybrid Propulsion
9.4.1 Safer Attributes of Hybrid Propulsion Disrupt Market Trends
9.5 Ramjet
9.5.1 Requirement of High Speed for Rockets and Missiles Increases Demand for Ramjet Engines
9.6 Turbojet
9.6.1 Supersonic Speed of Aircraft and Missiles Leads to More Demand for Turbojet Engines
9.7 Scramjet
9.7.1 Scramjet to Provide and Maintain Supersonic and Hypersonic Speed Throughout the Cruise Phase
10 Rockets and Missiles Market, by Launch Mode
10.1 Introduction
10.2 Surface to Surface
10.2.1 Versatility in Launching Drives Surface to Surface Segment
10.3 Surface to Air
10.3.1 Majority of Anti-Aircraft Systems for Anti-Air Warfare Operations Increases Demand for Surface to Air Rockets and Missiles
10.4 Air to Air
10.4.1 Dominance in Dogfight and Aerial Combat Fuels Demand for Air to Air Rockets and Missiles
10.5 Air to Surface
10.5.1 Air to Surface Rockets and Missiles Market Driven by Need for Overall Dominance of Space
10.6 Subsea to Surface
10.6.1 Fortification Efforts at Ports for Better Security Boost Subsea to Surface Rocket and Missile Demand
11 Rockets and Missiles Market, by Guidance Mechanism
11.1 Introduction
11.2 Guided
11.2.1 Development of Long-Range Guided Missiles and Rockets to Lead Market
11.3 Unguided
11.3.1 Modernization and Technological Advancements in Unguided Rockets to Boost Demand
12 Regional Analysis
13 Competitive Landscape
13.1 Introduction
13.2 Market Share Analysis of Leading Players,
13.3 Market Share Analysis,
13.4 Competitive Evaluation Quadrant
13.4.1 Star
13.4.2 Pervasive
13.4.3 Emerging Leaders
13.4.4 Participants
13.5 Competitive Scenario
13.5.1 New Product Launches
13.5.2 Deals
14 Company Profiles
14.1 Northrop Grumman Corporation
14.2 Lockheed Martin Corporation
14.3 Raytheon Technologies Corporation
14.4 the Boeing Company
14.5 General Dynamics Corporation
14.6 Bae Systems
14.7 Israel Aerospace Industries
14.8 Thales
14.9 Lig Nex1 Co. Ltd.
14.10 Bharat Dynamics Limited
14.11 Mbda
14.12 Elbit Systems
14.13 Kongsberg
14.14 Saab Ab
14.15 Diehl Defence
14.16 Rafael Advanced Defense Systems Ltd.
14.17 Hanwha Defense
14.18 General Atomics
14.19 Kbp Instruments Design Bureau
14.20 Denel Dynamics
14.21 Almaz-Antey
14.22 Roketsan
14.23 Spetstechnoexport (Ste)
14.24 Frontier Electronic Systems Corp.
14.25 Ariane Group
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/f841oo
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