Missiles Market Size

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

The key factors driving the growth of the market including the spending of emerging economies into defense sector and surge in the investments for the procurement of missile. Further, increasing border threats and improvement in the national security concerns is enhancing the defense forces globally. Missile play an important role in any war owing to their range offering. On the account of this, the demand for technologically enhanced missile is propelling the market growth. Moreover, in order to protect the country during war situations, defense forces are having high demand for latest missile to secure their armed forces. Hence, these factors are estimated to drive the growth of the market.