JERSEY CITY, NJ, Aug. 01, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently released a report, “Rocket and Missile Market” By speed (subsonic, supersonic and hypersonic), by product (cruise missiles, ballistic missiles, rockets and torpedoes), by launch mode (surface to surface, surface to air, air to air and others), by type of propulsion (solid, liquid, hybrid, ramjet, turbojet and others) and by geography. According to Verified Market Research, the Rocket & Missile Market size was valued at USD 56.5 Billion in 2021 and is projected to reach USD 86.4 Billion by 2030, growing at a CAGR of 4.8% from 2022 to 2030.
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Browse the table of contents in depth on “Rocket and Missile Market”
202 – Pages
126 – Tables
37 – Numbers
Overview of the global rocket and missile market
Situations of close combat have arisen as a result of the increase in terrorist activities and the escalation of regional conflicts which have provoked confrontation with neighboring countries. Innovation built into standard missiles and rockets can now be easily located using state-of-the-art tracking techniques. Therefore, nations must rely on continuously improving their abilities, which makes it difficult to distinguish during a fight. Governments in various growing countries including India are increasing their tactical spending to purchase technologically advanced rockets and missiles. These factors increase worldwide interest in the development of rockets and missiles.
However, a few factors, such as the high cost of cutting-edge innovation and invention lags, might restrain the growth of the rockets and missiles market. Over the past five years or so, there have been more than 1,200 additional ballistic missiles, according to the Missile Defense Agency. More than 5,900 ballistic missiles now exist outside the United States, the North Atlantic Treaty Organization, Russia and China. The range of forces deployed by the United States today includes hundreds of launchers and missiles. Hence, the rocket and missile market is driven by the growing demand for defense programs by countries to counter various threats.
Major market players are BAE Systems plc, Elbit Systems Ltd, Israel Aerospace Industries Ltd, Kongsberg Gruppen, LIG Nex1, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Thales Group and others.
Verified Market Research has segmented the global rocket and missile market on the basis of speed, product, launch mode, propulsion type, and geography.
- Rockets and Missiles Market, By Velocity
- Rocket and Missile Market, By Product
- cruise missile
- ballistic missiles
- Rocket and Missile Market, By Launch Mode
- Surface to surface
- Air to air
- Rocket and Missile Market, By Propulsion Type
- Rocket and Missile Market, By Geography
- North America
- The rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
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