Rocket and Missiles Industry Size WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 3, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Rocket and Missiles Market," The rocket and missiles market was valued at $54.8 billion in 2021, and is estimated to reach $82.0 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 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.
The rockets and missiles market has witnessed significant growth in recent years, owing to rise in border disputes and the consequent increase in procurement and development of state of the art rockets & missiles to strengthen the modern combat capabilities. For instance, in April 2022, Russia expanded the scale of its missile strikes on Kyiv in response to Ukrainian forces' attacks or sabotage on Russian territory. In addition, in September 2020, the conflict between Armenia and Azerbaijan over the disputed Nagorno-Karabakh region included the heavy use of missiles, drones, and rocket artillery.
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.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A09635
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.
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.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/rocket-and-missiles-market/purchase-options
𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐑𝐨𝐜𝐤𝐞𝐭 𝐚𝐧𝐝 𝐌𝐢𝐬𝐬𝐢𝐥𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:
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.
𝐎𝐭𝐡𝐞𝐫 𝐓𝐨𝐩 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬
https://www.alliedmarketresearch.com/nuclear-missiles-and-bombs-market-A10717 - Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/chemical-biological-radiological-nuclear-cbrn-security-market-A06229 - Global Opportunity Analysis and Industry Forecast, 2024-2033
https://www.alliedmarketresearch.com/hypersonic-missile-market-A14493 - Global Opportunity Analysis and Industry Forecast, 2023 - 2032
https://www.alliedmarketresearch.com/cruise-missile-market-A10657 - Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/rocket-launchpad-market-A10831 - Global Opportunity Analysis and Industry Forecast, 2023-2032
David CorreaAllied Market Research+1 800-792-5285email us hereVisit us on social media:FacebookX
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October 03, 2024, 11:12 GMT
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