The global market for rockets and missiles is expected to witness a considerable surge in the next few years, due to the rising expenditure by various governments on their respective defense and military sectors. The increase in the defense budget will help in the adoption of technologically advanced rockets and missiles needed for the strengthening of the defense forces across the globe. Considering this fact, a market research report titled as “Rockets and Missiles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” has been recently added to the vast online collection of Market Research Reports Search Engine (MRRSE). The report analyzes the current market situation as well as the future potential of the global rockets and missiles market.
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The global rockets and missiles market is expected to rise at a CAGR of 3.4% between 2017 and 2025. At this pace, the market is likely to reach a valuation of US$ 43.01 billion by the end of 2025 from US$32.10 billion in 2016. To make the report organized and easy to understand, the rockets and missiles market is segmented on basis of product types and geography. Rockets and missiles are the two types of products well-thought-out in the study. The missiles segment accounted for the largest market in 2016 and is projected to be the fastest growing segment over the forecast period from 2017 to 2025. Based on rockets, the global market is bifurcated into air to ground rockets and artillery rockets. In 2016, the artillery rockets held the maximum market share, while, the air to ground rockets are likely to rise at a faster rate than the artillery rockets during the period 2017-2025.
Cruise missiles, anti-ship missiles, surface to air missiles, anti-tank missiles, anti-submarine missiles and others are some types of the missiles. The other sub-segment includes air to ground missiles, air to air missiles, intercontinental ballistic missiles and anti-radiation missile. In 2016, surface to air missiles held the largest market share and it is also likely to grow at a significant rate as compared to other missiles in the missiles segment during the forecast period. Geographically, the global market for rockets and missiles is segmented as Asia Pacific, North America, Europe, Middle East and Africa and Latin America. The dominant region in the industry for rockets and missiles in 2016 was North America, while Asia Pacific is likely to be the fastest growing region globally.
The major vendors of rockets and missiles across the world are BAE Systems (U.K), Northrop Grumman Corporation (U.S.), Raytheon Company (U.S.), Lockheed Martin Corporation (U.S.), General Dynamics Corporation (U.S.), Boeing (U.S.), Leonardo (Italy), Rafael Advanced Defense Systems (Israel), Thales Group (France) and MBDA Missiles Systems (Germany).
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