Rocket and missile market projected to reach USD 85.22 billion by 2029 with 6.4% growth rate

From GlobeNewswire: 2025-03-10 08:30:00

The rocket and missile market is projected to reach USD 85.22 billion by 2029, with a growth rate of 6.4% from 2024. The rise is attributed to defense program expansions globally and advanced missile system developments to counter security threats. Export control of rocket and missile sales aids in maintaining national security and geopolitical stability.

The supersonic segment is expected to dominate the rocket and missile market by 2029, with speeds between Mach 1 and 5 enabling quick target engagement for military applications. North America is forecasted to lead in market share due to strong defense budgets and advanced military capabilities, with significant investments in hypersonic weapons.

Guided rockets and missiles are projected to have the fastest growth, driven by advanced targeting capabilities using technologies like GPS and radar guidance. Technological advancements in propulsion systems, next-generation missile seekers, hypersonic technology, and specialized warheads are key factors shaping the market’s growth trajectory.

Key drivers for the rocket and missile market growth include increased defense programs in the US, heightened demand due to ongoing conflicts, rising global defense spending, indigenous missile defense system developments, and the evolving nature of warfare. The market’s expansion is crucial in addressing emerging security threats and maintaining strategic supremacy.



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