Missiles And Missile Defense Systems Market Expansion In The Near Future At A CAGR Of 4.50% During The Forecast Period 2023 To 2032.

Escalating hostilities between different nations is expected to drive market expansion in the near future at a CAGR of 4.50% during the forecast period 2023 to 2032.

Market Research Future (MRFR) has published a cooked research report on the “Global Missiles and Missile Defense Systems Market” that contains information from 2018 to 2032. The missiles and missile defense systems market is estimated to register a CAGR of 4.50% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global missiles and missile defense systems market - Raytheon, MBDA, Lockheed Martin Corporation, Boeing, Rafael Advanced Defense Systems, Thales, Bharat Dynamics, Mectron, Sagem, Makeyev Design Bureau, Tactical Missiles, Kongsberg Defense Systems, Denel Dynamics, Saab, BAE Systems, Alliant Techsystems, Rheinmetall Defense, Northrop Grumman, Aerojet Rocketdyne, and BrahMos Aerospace.

Missiles and Missile Defense Systems Market Highlights

The global missiles and missile defense systems market is accounted to register a CAGR of 4.50% during the forecast period and is estimated to reach USD 35.963 billion by 2032.

The primary drivers propelling the market are the escalating hostilities among nations and the expanding number of missile defense system expenditures made by various nations globally. Additionally, as technology advances in the field of missiles and missile defense systems, more nations may decide to purchase cutting-edge systems could spur growth in the near future. In addition, major corporations are currently making significant global investments in the development of missiles and missile defense systems.

Segment Analysis

The global missiles and missile defense systems market has been segmented into type and application.

On the basis of type, the market is segmented into Missile Defense Systems, Surface-To-Air Missiles, Air-To-Surface Missiles, Air-To-Air Missiles, and Anti-Ship Missiles. The missile defense systems segment was attributed to holding the largest market share in 2022. Missile defense systems are designed to detect, locate, and eliminate enemy missiles that are getting close to Earth. New missile defense systems are being purchased by nations all over the world in an attempt to gain an advantage in the struggle for military domination. The growing defense budget is another major driver driving the market's growth.

Based on application, the global missiles and missile defense systems market has been segmented into Military, Simulation Exercises, and Other. The military segment was expected to hold the largest market share in 2022. The primary drivers of the market's growth are expected to be the military's purchase and modernization initiatives in response to emerging threats. The multiple contracts for helicopters, infantry fighting vehicles (IFVs), military aircraft, and armored personnel carriers (APCs) equipped with launchers and warheads that are currently in place are expected to create a parallel demand for countermeasures like interceptor missiles and missile defense systems throughout the forecast period.

Regional Analysis

The global missiles and missile defense systems market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe missiles and missile defense systems market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The missiles and missile defense systems market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World missiles and missile defense systems market comprises of Middle East, Africa, and Latin America.

The largest market share for missiles and missile defense systems was maintained by the North American region due to rising defense budget expenditures, the need to build cutting-edge plans for aggressive space-based missile defense systems, and the growing demand for missile defense systems with advanced technology. In addition, North America is the largest user of defense hardware and is acquiring sophisticated weapons to establish military superiority and maintain safety and harmony.

Moreover, the Europe market has been persistently growing over the forecast period. A significant amount of money is being invested in research and development, and a number of missile manufacturers are cooperating and establishing joint ventures to exchange technology and expertise. Major players profit from supplying weaponry and missile defense systems to governments both domestically and abroad.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period spurred by efforts to modernize the military, rising regional tensions, and technological developments. Market participants can invest in R&D, make money, and improve national security by taking advantage of these opportunities. Furthermore, innovation, indigenization, and cooperation will be crucial elements in determining the market's future.

Furthermore, the rest of the world's missiles and missile defense systems market is divided into the Middle East, Africa, and Latin America. The market for missiles and missile defense systems in rest of the world looks bright going forward. It is anticipated that regional conflicts, modernization initiatives, and technology breakthroughs will propel the market's continuous expansion. The market environment will be shaped by the advancement of integrated air and missile defense systems, directed energy weapons, and hypersonic missiles.

Key Findings of the Study

• The global missiles and missile defense systems market is expected to reach USD 35.963 billion by 2032, at a CAGR of 4.50% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market driven by technical advancements, growing regional tensions, and military modernization initiatives.


• Based on application, the military segment was attributed to holding the largest market in 2022, with an approximate market share of 43%.


• Raytheon, MBDA, Lockheed Martin Corporation, Boeing, Rafael Advanced Defense Systems, Thales, Bharat Dynamics, Mectron, Sagem, Makeyev Design Bureau, Tactical Missiles, Kongsberg Defense Systems, Denel Dynamics, Saab, BAE Systems, Alliant Techsystems, Rheinmetall Defense, Northrop Grumman, Aerojet Rocketdyne, and BrahMos Aerospace.