Rocket and Missiles Market Targets a Projected $82.0 Billion Valuation by 2031, Unveils Insights from Allied Market Research
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 2031.๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ - https://www.alliedmarketresearch.com/request-sample/A09635
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
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
The Boeing Company
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.
๐๐ซ๐ข๐ฆ๐ ๐๐๐ญ๐๐ซ๐ฆ๐ข๐ง๐๐ง๐ญ๐ฌ ๐จ๐ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก
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.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/rocket-and-missiles-market/purchase-options
๐๐ก๐ ๐๐ซ๐ฎ๐ข๐ฌ๐ ๐ฆ๐ข๐ฌ๐ฌ๐ข๐ฅ๐๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ฌ๐ญ๐๐ญ๐ฎ๐ฌ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
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.
๐๐ก๐ ๐ ๐ซ๐จ๐ฎ๐ง๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐ ๐ฉ๐จ๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
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 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.
๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐๐ฒ ๐๐๐๐
Based on region, North America held the highest market share in terms of revenue 2021, accounting for around two-fifths of the global rocket and missiles market. This is 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. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.5% from 2022 to 2031, 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.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/A09635
๐๐จ๐ฏ๐ข๐-๐๐ ๐๐๐๐ง๐๐ซ๐ข๐จ
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.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐๐๐๐ง๐ฌ๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
https://www.alliedmarketresearch.com/nuclear-missiles-and-bombs-market-A10717 - Nuclear Bombs and Missiles Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Aircraft Bomber and Land based missiles, Inter-Continental Ballistic Missile (ICBM), Submarine-Launched Ballistic Missile (SLBM), Others), by Range (Less Than 1,000km, 1,000Km to 5,000km, Greater than 5,000km), by Status (Active, Reserve and Retired): Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/chemical-biological-radiological-nuclear-cbrn-security-market-A06229 - Chemical, Biological, Radiological, and Nuclear (CBRN) Security Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Chemical Security, Biological Security, Radiological Security, and Nuclear Security), Function (Decontamination, Protection, Detection, and Simulation), and Application (Military and Law Enforcement): Global Opportunity Analysis and Industry Forecast, 2021-2030
https://www.alliedmarketresearch.com/hypersonic-missile-market-A14493 - Hypersonic Missile Market Size, Share, Competitive Landscape and Trend Analysis Report by Product (Hypersonic Glide Vehicles, Hypersonic Cruise Missiles), by Application (Wire Guidance, Command Guidance, Terrain Comparison Guidance, Terrestrial Guidance, Inertial Guidance, Beam Rider Guidance, Laser Guidance, RF GPS Reference) and by End User (Military, Civil): Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/missile-launching-systems-market-A09626 - Missile Launching Systems Market Size, Share, Competitive Landscape and Trend Analysis Report by Platform (Naval vessel-based, Ground vehicle-based, Airborne) and by End User (Army, Navy, Airforce): Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/cruise-missile-market-A10657 - Cruise Missile Market Size, Share, Competitive Landscape and Trend Analysis Report by Launch Platform (Air, Surface Combatants, Land, Submarine), by Range (Short-range Missiles, Medium-range Missiles, Long-range Missiles), by Application (Attack, Defensive) and by Speed (Subsonic, Supersonic, Hypersonic): Global Opportunity Analysis and Industry Forecast, 2023-2032
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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