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Global Rocket and Missile Market Analysis by Industry Outlook, Regional Scope and Competitive Scenario 2022-2028


Rockets and missiles are sophisticated weaponry developed to achieve defined objectives.

NEWARK, UNITED STATES, June 10, 2022 /EINPresswire.com/ — The Brainy Insights launched a study titled Rocket and Missile Market Size by Type (Missiles, & Rockets), Propulsion Type (Ramjet, Turbojet, Scramjet, Liquid Propulsion, Solid Propulsion, & Hybrid Propulsion), Platform, Launch Mode, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
The global rocket and missile market are expected to grow from 61.83 billion in 2021 to USD 92.75 billion by 2030, at a CAGR of 4.61% during the forecast period 2022-2030. The growing budgetary defense expenditure to modernize the army, navy, and air force will drive the rocket and missile market growth. The changing geopolitical dynamics, which highlight the critical nature of having a robust naval and air force defense structure, will contribute to developing new naval and air missile defense systems. Collaborative efforts between governments and private market players increased the thriving space for defense startups. The growing trend of defense indigenization will propel the growth of the rockets and missiles market. The rise of extremist groups and organizations leading to cross-border terrorism, targeted attacks, and killings have pressured the governments to improve their security measures to protect national interests, defense assets, civilian infrastructure, and the lives of their citizens. Integrating advanced weaponry to combat enemy actions has garnered the attention of the governments, who are now producing high-end missiles that are strategically placed to deter the aggressor. Advanced features will allow the military to intercept and target hostiles effectively without the active involvement of their personnel.

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The missiles segment dominated the market, with a market value of around 38.33 billion in 2021.
The type segment is divided into missiles & rockets. The missiles segment dominated the market, with a market value of around 38.33 billion in 2021.

The solid propulsion segment is expected to grow at the fastest CAGR of 5.57% over the forecast period.
The propulsion type segment is divided into ramjet, turbojet, scramjet, liquid propulsion, solid propulsion, & hybrid propulsion. Over the forecast period, the solid propulsion segment is expected to grow at the fastest CAGR of 5.57%.

The ground segment dominated the market, accounting for around 27.82 billion in global revenue.
The platform segment is divided into ground, airborne, & naval. The ground segment dominated the market, accounting for around 27.82 billion in global revenue.

The surface-to-surface segment dominated the market, with a market value of around 25.96 billion in 2021.
The launch mode segment is divided into surface-to-surface, air-to-air, surface-to-air, air-to-surface, and subsea-to-surface. The surface-to-surface segment dominated the market, with a market value of around 25.96 billion in 2021.

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Regional Segmentation Analysis:
The market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The North American region is expected to be the largest market during the forecast period. The rocket and missile market in North America has been expanding rapidly. The United States of America dominates the rocket and missile market in the North American region. The federal US government’s increasing spending on defense to maintain its global strategic army, naval, and air force bases will significantly contribute to the North American rocket and missile market.

Global Rocket and Missile Market by Type:
• Rockets
• Missiles
Global Rocket and Missile Market by Propulsion Type:
• Ramjet
• Turbojet
• Scramjet
• Liquid Propulsion
• Solid Propulsion
• Hybrid Propulsion
Global Rocket and Missile Market by Platform:
• Ground
• Airborne
• Naval

Competitive Analysis:
The market’s major players include Rafael Advanced Defense Systems Ltd., Lockheed Martin Corporation, Raytheon Technologies Corporation, Thales Group, Northrop Grumman Corporation, BAE Systems, General Dynamics Corporation, MBDA Missiles Systems, Denel Dynamics, and Saab AB, among others.

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About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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