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Rockets and Missiles Market Share

Report ID: GMI9683
Published Date: May 2024
Report Format: PDF

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Rockets and Missiles Market Share

Lockheed Martin Corporation and Raytheon Technologies Corporation held significant market share of over 10% market share in 2023. These industry giants continue to lead the market through their technological advancements and strategic partnerships, bolstering their positions. They have been able to adjust to changing geopolitical demands and defense requirements by expanding their product portfolios owing to their proactive investments.

Through significant investments in R&D, these organizations have pioneered the development of innovative rocket and missile technology and complied with strict international security regulations. With their dedication to innovation and sustainability, they have improved performance capabilities and minimized environmental impacts, fulfilling the strict requirements of defense agencies and reinforcing global security. The strategic fusion of innovation, cooperation, and market adaptation that Lockheed Martin and Boeing have implemented has strengthened their leadership positions in the quickly changing rocket and missile industry.

Rockets and Missiles Market Companies

Major players operating in the rockets and missiles industry are:

BAE Systems plc
Boeing Company
Brahmos Aerospace
China Aerospace Science and Industry Corporation (CASIC)
Denel Dynamics
Irkut Corporation
Kongsberg Gruppen ASA
Lockheed Martin Corporation
Raytheon Technologies Corporation
Rheinmetall AG
Roketsan A.S.
Saab AB
Safran S.A.
Thales Group

Authors: Suraj Gujar, Partha Paul

Frequently Asked Questions (FAQ) :

Industry size for rockets and missiles was worth USD 57.8 billion in 2023 and is projected to expand at over 6% CAGR from 2024 to 2032, owing to the rising concerns about the global security.

The supersonic speed type segment in the rockets and missiles industry recorded 55% market share in 2023 and is estimated to depict substantial growth between 2024 and 2032, owing to the increasing demands for faster delivery of payloads, heightened military requirements for rapid response capabilities, and advancements in propulsion and aerodynamics technologies.

The missiles segment in the rockets and missiles industry is projected to account for more than USD 72 billion by 2032, as they are essential for deterrent, strategic military operations, and other defense applications.

North America market recorded 35% market share in 2023 and is anticipated to grow at significant rate between 2024 and 2032, due to the presence of strong industrial base.