OREGAON, PORTLAND, UNITED STATES , October 11, 2023 /EINPresswire.com/ — Allied Market Research published a report, titled, “Rocket and Missiles Market by Speed (Subsonic, Supersonic, Hypersonic), by Product (Cruise Missiles, Ballistic Missiles, Rockets, Torpedoes), by Guidance (Guided, Unguided), by Platform (Ground, Airborne, Naval): Global Opportunity Analysis and Industry Forecast, 2021-2031″. According to the report, the global rocket and missiles industry generated $54.8 billion in 2021, and is anticipated to generate $82.0 billion by 2031, witnessing a CAGR of 4.2% from 2022 to 2031.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/10000
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 increase in territorial conflicts, the rise in need for advanced rockets and missiles to counter the modern combat around the country’s border, and the surge in defense budget of emerging economies drive the growth of the global rocket and missiles market. However, strict regulations related to arms use & transfer and high-cost associated with rocket and missile technology are the factors that are anticipated to hamper the market growth. Contrarily, the rise in the adoption of hypersonic missile systems and the preference for automatic target recognition (ATR) missile systems present new opportunities in the coming years.
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
BAE Systems plc
Elbit Systems Ltd
Israel Aerospace Industries Ltd
Lockheed Martin Corporation
Northrop Grumman Corporation
Raytheon Technologies Corporation
The Boeing Company
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 – https://www.alliedmarketresearch.com/rocket-and-missiles-market/purchase-options
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.
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 size 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 was the highest revenue contributor. The U.S. dominated the global rockets and missile market share in North America in 2021, 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. Asia-Pacific is expected to grow at a significant rate during the forecast period, 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.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/10000
The outbreak of the Covid-19 pandemic has had a negative impact on the global rocket and missiles market, due to nationwide lockdown that forced all rocket and missiles manufacturing facilities to shut their operations.
Disruptions in the supply chain led to sudden fall in the availability of raw materials, thereby hampering the market on the global level.
Shortage of skilled labor force was a challenge to continue production in full capacity. However, the market recovered soon in the post-pandemic.
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
★By speed, the hypersonic segment is expected to register a significant growth during the forecast period.
★On the basis of product, the cruise missiles segment is anticipated to exhibit significant growth in future.
★According to guidance, the guided segment is projected to lead the global rockets and missiles market.
★According to platform, the airborne segment is projected to lead the global rockets and missiles market.
★Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
https://www.alliedmarketresearch.com/nuclear-missiles-and-bombs-market-A10717 – 𝐍𝐮𝐜𝐥𝐞𝐚𝐫 𝐁𝐨𝐦𝐛𝐬 𝐚𝐧𝐝 𝐌𝐢𝐬𝐬𝐢𝐥𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : 𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭, 𝟐𝟎𝟐𝟏-𝟐𝟎𝟑𝟎
https://www.alliedmarketresearch.com/chemical-biological-radiological-nuclear-cbrn-security-market-A06229 – 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥, 𝐁𝐢𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥, 𝐑𝐚𝐝𝐢𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥, 𝐚𝐧𝐝 𝐍𝐮𝐜𝐥𝐞𝐚𝐫 (𝐂𝐁𝐑𝐍) 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 : 𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭, 𝟐𝟎𝟐𝟏-𝟐𝟎𝟑𝟎
https://www.alliedmarketresearch.com/missile-launching-systems-market-A09626 – 𝐌𝐢𝐬𝐬𝐢𝐥𝐞 𝐋𝐚𝐮𝐧𝐜𝐡𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : 𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭, 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟐
https://www.alliedmarketresearch.com/rocket-launchpad-market-A10831 – 𝐑𝐨𝐜𝐤𝐞𝐭 𝐋𝐚𝐮𝐧𝐜𝐡𝐩𝐚𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 : 𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭, 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟐
https://www.alliedmarketresearch.com/ballistic-missile-market-A10695 – 𝐁𝐚𝐥𝐥𝐢𝐬𝐭𝐢𝐜 𝐌𝐢𝐬𝐬𝐢𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 : 𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭, 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟐