Missiles

Global Missiles Market to Reach US$254.1 Billion by 2030

The global market for Missiles estimated at US$193.0 Billion in the year 2024, is expected to reach US$254.1 Billion by 2030, growing at a CAGR of 4.7% over the analysis period 2024-2030. Surface-to-Surface, one of the segments analyzed in the report, is expected to record a 4.5% CAGR and reach US$63.6 Billion by the end of the analysis period. Growth in the Air Defense segment is estimated at 4.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$51.7 Billion While China is Forecast to Grow at 7.8% CAGR

The Missiles market in the U.S. is estimated at US$51.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$53.9 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.4% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.0% CAGR.

strong>Global Missiles Market - Key Trends and Drivers Summarized

What Are Missiles and How Do They Work?

Missiles are sophisticated guided weapons designed to deliver a payload from a launch point to a target with precision. They can be classified based on their launch mode, range, or the type of payload they carry, including conventional and nuclear warheads. Missiles operate using a propulsion system—rocket motors or jet engines—that drives them to their targets at high speeds. Guidance systems are crucial, with missiles employing various methods such as inertial guidance, radar guidance, or GPS navigation to find and strike their targets accurately. The technology behind missiles is complex and involves aerodynamics, rocket science, electronics, and materials science to ensure functionality under extreme conditions.

How Are Missiles Used in Modern Warfare?

The use of missiles has revolutionized modern warfare, offering nations the ability to project power rapidly across great distances. In military contexts, missiles serve various roles, from anti-tank and anti-aircraft weapons to strategic ballistic missiles capable of carrying nuclear warheads over intercontinental distances. The strategic importance of missiles is evident in their deterrent capability, as they can deliver swift, retaliatory strikes that complicate enemy planning and operations. Moreover, the development of anti-missile defense systems like the Patriot and S-400 has become crucial in protecting nations from aerial threats, including incoming missiles and aircraft.

What Trends Are Shaping the Future of Missile Technology?

Emerging technologies are dramatically shaping the future of missile systems. The integration of artificial intelligence (AI) is enhancing the accuracy and decision-making capabilities of missile guidance systems, allowing for more autonomous operations and adaptability in dynamic combat environments. Additionally, hypersonic missiles, which travel at speeds greater than Mach 5, are becoming a significant focus of military investment due to their ability to evade traditional missile defense systems. Another trend is the miniaturization of technology, which allows for smaller, yet more powerful, missiles that can be deployed in greater numbers, enhancing their strategic utility in battlefields.

What Drives the Growth of the Missile Market?

The growth in the missile market is driven by several factors. Increasing geopolitical tensions and the need for national and regional security enhancements compel countries to invest heavily in advanced missile systems. Technological advancements, such as the development of stealth capabilities and electronic countermeasures, are critical in shaping procurement strategies as nations seek to maintain technological superiority. Additionally, shifts in military strategy towards asymmetric warfare and the increasing role of unmanned aerial vehicles (UAVs) necessitate the integration of missiles into these platforms. Consumer behavior, particularly the demand from governments for quick-reaction, high-precision weapons systems, also significantly influences market dynamics.

SCOPE OF STUDY:

The report analyzes the Missiles market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Surface-to-Surface, Air Defense, Air-to-Surface, Air-to-Air, Antitank, Bombs (Guided), Antiship, Intelligent Munitions, Other Types)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 24 Featured) -

• BAE Systems Plc
• Israel Aerospace Industries Ltd.
• Leonardo S.p.A.
• Lockheed Martin Corporation
• MBDA Missile Systems
• RUAG AG
• Safran SA
• Thales Group
• The Boeing Company

AI INTEGRATIONS
We`re transforming market and competitive intelligence with validated expert content and AI tools.

Instead of following the general norm of querying LLMs and Industry-specific SLMs, we built repositories of content curated from domain experts worldwide including video transcripts, blogs, search engines research, and massive amounts of enterprise, product/service, and market data.

TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by increasing the Cost of Goods Sold (COGS), reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher. Show more