Rocket and Missile Market Size Expected to Grow at a CAGR over 5% from 2022 to 2030

September 2020, Research Report on the Global Rocket and Missile Market.

Rocket and Missile Market Forecast

The Rocket And Missiles Market Is Estimated At $54 Billion In 2021 Growing At A CAGR Of 5% From 2022 To 2030.

The increasing defense expenditure and increasing cross border disputes are primarily driving the growth of the market. Additionally, the increasing development of advanced weapon systems is driving the growth of the market.

Market USP

Development of guided missile systems

Growth Opportunities in the Market

The air-to-surface segment is expected to record the highest growth in the market: The air-to-surface segment is expected to register the highest CAGR during the review period. This is due to the increasing development of air to surface missiles that can be launched by fighter jets and helicopters.

The surface-to-surface segment accounted for the largest market share in 2019. This is due to the high demand for surface-to-surface missiles during warfare situations.

The solid propulsion segment accounted for the largest share in 2019: The solid propulsion segment accounted for the largest share of the global rocket and missile market in 2019 primarily due to the extensive use of solid-state propulsion in many rockets globally.

The turbojet segment is expected to register the highest CAGR during the forecast period due to the wide use of turbojet in missiles.

Key Players

• Denel Dynamics (South Africa)


• General Dynamics Corporation (US)


• Kongsberg Gruppen ASA (Norway)


• Lockheed Martin Corporation (US)


• MBDA Holdings SAS (France)


• Mesko SA (Poland)


• Nammo AS (Norway)


• Rafael Advanced Defense Systems Ltd (Israel)


• Roketsan AS (Turkey)


• Saab AB (Sweden)


• Thales Group (France)


• Raytheon Technologies Corporation (US)