Rocket and Missile Market Outlook: Opportunities and Challenges Through 2029

Delray Beach, FL, July 03, 2026 (GLOBE NEWSWIRE) -- The report "Rocket and Missile Market by Product (Missiles, Rocket Artilleries, Torpedoes), Speed (Subsonic, Supersonic, Hypersonic), Propulsion Type (Solid, Liquid, Hybrid, Ramjet, Turbojet), Launch Mode, Guidance Mechanism and Region - Global Forecast to 2029", The global rocket and missile market is projected to reach USD 85.22 billion by 2029, from USD 62.50 billion in 2024, at a CAGR of 6.4%.

The growth of the rockets and missiles market is driven by several factors, including increasing defense programs with the objective of strengthening country security against threats. Due to ongoing conflicts and rising defense expenditures worldwide, there is an increase in demand for missiles and rockets. In addition to changing the nature of warfare and the advancement of missile defense systems, governments efforts to strengthen their military preparedness and capabilities also contribute to this market expansion.

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203298804

Major Key Players in the Rocket and Missile Industry:

Lockheed Martin Corporation (US),
RTX (US),
BAE Systems (UK),
Northrop Grumman (US),
Boeing (US),
Israel Aerospace Industries (Israel),
Thales (France),
LIG Nex1 (South Korea),
Saab AB (Norway),
MBDA (France),
KONGSBERG (Norway).

Major Rocket and Missile companies include:

Lockheed Martin Corporation (US)

Lockheed Martin Corporation focuses on research, design, development, and integration of advanced technology systems and related products. The company generates revenue through following segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The Missiles and Fire Control division includes such systems as air and missile defense systems, tactical missiles, and precision strike weapon systems. Other notable programs include Patriot Advanced Capability-3, Terminal High Altitude Area Defense, Multiple Launch Rocket System, Precision Strike Missile, Joint Air-to-Surface Standoff Missile, Long Range Anti-Ship Missile, and HELLFIRE Missile. It also develops hypersonic strike weapons and produces the Javelin anti-tank missile. Lockheed Martin has around 572 manufacturing plants in over 500 cities across 50 states in the US. Its subsidiaries are Lockheed Martin UK Limited, Lockheed Martin Global, Inc., Lockheed Martin Australia Pty Limited, Lockheed Martin Canada Inc., and Lockheed Martin Logistics Management, Inc.

RTX (US)

RTX, formerly Raytheon Technologies, is one of the leading multinational aerospace and defense conglomerates. The company research, develops, and manufactures advanced technology products in the aerospace and defense sector, including aircraft engines, avionics, aerostructures, cybersecurity, guided missiles, air defense systems, satellites, and drones. It is also a large military contractor, generating substantial revenue from the US government. RTX operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Raytheon segment produces a broad portfolio of air & missile defense systems, precision weapons, radars, and command and control systems, which deliver end-to-end solutions to detect, track, and engage threats.

BAE Systems (UK)

BAE Systems is one of the key players in the aerospace, defense, and security sectors. The company operates through five segments: Electronic Systems, Cyber & Intelligence, Platforms & Services, Air, and Maritime. It designs and manufactures naval gun systems, munitions, torpedoes, radars, naval command and combat systems, artillery systems, and missile launchers. It also designs and manufactures missiles and missile systems through a 37.5% interest in MBDA. BAE Systems manufactures artilleries and missile launchers for the US, the UK, and other armed forces. Evolved SeaSparrow Missile (ESSM) is a medium-range surface-to-air missile designed by the company to defend warships from anti-ship cruise missiles. It has a presence in Australia, India, Saudi Arabia, the UK, and the US.

Ask for Sample Report:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=203298804

Rocket and Missile Market Segmentation:

Based on product, the missiles segment is estimated to capture largest share in the market during the forecast period.

The missile segment is estimated to capture largest share during the forecast period due to the precision and versatility of missiles in modern defense make them significant to the rocket and missile industry. There is an increasing demand for precision, speed, and adaptability due to increasing concerns regarding global safety and evolving tactics in warfare. Missiles, particularly those with precise guidance systems, offer militaries the capacity to strike crucial targets with precision and effectiveness. They are crucial for both active conflict and deterrence because of their capacity to minimize collateral damage while delivering powerful, targeted responses. This capacity also encourages ongoing investment and innovation in the market.

Based on Launch Mode, the Surface-to-Surface segment is forecasted to grow at highest CAGR during forecast period.

The Surface-to-Surface segment is forecasted to grow at the highest CAGR during the forecast period. This segment is expanding due to their versatility and cost-efficiency. These systems, designed to launch rockets or missiles from the ground to strike land or sea targets, offer nations a lower-cost alternative to aircraft and complex launch systems. Their ability to deliver targeted strikes, along with advancements that reduce production and maintenance costs, makes them accessible to countries with limited defense budgets. This affordability supports mass deployment and regular upgrades, maintaining military capabilities and driving demand in the global defense market.

North America is expected to capture the largest share during the forecast period in 2024.

The rocket and missile market in North America is expected to lead in 2024. The US is the largest market for rockets and missiles in North America. With increased military expenditure, defense contracts, and advanced rocket and missile programs, the region is leading the market. Many key players are present in this region, working on advanced rocket and missile technologies.

See More Latest Aerospace & Defence Reports:

Hypersonic Weapons Market Size, Share, Trends Growth Report by Type (Hypersonic Missiles, Hypersonic Gliding Vehicles), Domain (Land, Naval, Airborne), Range (Short-range, Medium-range, Long-range), Subsystem and Region (North America, Europe, Asia Pacific, ROW) - Global Forecast to 2030

Precision Guided Munition Market by Speed (Subsonic, Supersonic, and Hypersonic), Product, Technology, Mode of Operation (Semi-autonomous and Autonomous), Launch Platform (Land, Airborne and Naval) and Region 2026

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter , LinkedIn and Facebook .

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.