Missiles Market Analysis

On the basis of product type, the missile market is segmented into cruise missile and ballistic missile, out of which, ballistic missile are estimated to grow at fastest rate owing to the rising internal and external security threats across the world. Additionally, in order to strengthen the destructive powers, accuracy and capabilities of ballistic missile, investments in research & development are increased significantly, which in turn, is accelerating the market growth. Further, initiatives taken by armed forces regarding modernization and development of nuclear ballistic missile are anticipated to create huge demand for ballistic missile.

Our in-depth analysis of the global market includes the following segments

By Product Type	Cruise Missile Anti-ship Missile Anti-tank Missile Anti-submarine Missile Ballistic Missile
By Launch Mode	Surface to Surface Surface to Air Air to Surface Air to Air Others
By Range	Short Range Medium Range Intermediate Range Long Range
By Propulsion Type	Solid Liquid Hybrid Others
By End Users	Original Equipment Manufacturers Military Component Suppliers Others

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of missile is assessed at USD 58.56 billion.

Missile Market size was valued at USD 55.37 billion in 2023 and is expected to reach USD 136.71 billion by 2036, expanding at around 7.2% CAGR during the forecast period i.e., between 2024-2036.

North America industry is set to dominate majority revenue share by 2036, attributed to long term programs for defense systems, continuous demand from US military along with increased investments in technologically advanced missile systems.Â

The major players in the market are Lockheed Martin Corporation, Raytheon Technologies, Northrop Grumman Corporation, Boeing, Tactical Missiles Corporation, Aerojet Rocketdyne, Rafael Advanced Defense Systems Ltd, Avibras Industria Aeroespacial SA, Israel Aerospace Industries Limited, and others.

Missiles Market Analysis