Rockets And Missiles Market Size, Share, Growth Analysis, By Launch Mode(Surface to Surface, Surface to Air, Air to Air, Air to Surface), By Propulsion(Solid, Liquid, Hybrid, Ramjet), By Platform(Airborne, Naval, Ground), By Product(Cruise Missiles, Ballistic Missiles, Rockets, Torpedoes), By Speed(Subsonic, Supersonic, Hypersonic), By Guidance Mechanism(Guided, Unguided), By Region - Industry Forecast 2024-2031

North America is predicted to be the biggest market over the forecast period. The growing use of fibre optic guiding systems by the US Army and other countries, as well as increased expenditure in military modernization programmes by the US and Canada, are driving market growth. The presence of major manufacturers such as Lockheed Martin Corporation, General Dynamics Corporation, and Technologies Corporation accounts for a larger market share of rockets and missiles in North America. It is increasing missile industry supremacy.

During the forecast period, Asia Pacific is predicted to have the greatest CAGR. The People's Liberation Army Navy (CHINA) and the Japan Maritime Self-Defense Force (MIRV) are increasingly employing several independent re-entry vehicles, boosting the industry's expansion.

Increased private sector investment for ballistic missile supply in Europe is projected to boost the market. The market in the United Kingdom is rising because to increased demand for precision-guided and automatic target identification technologies. The Russian Defence Ministry signed a deal with Scientific and Production Association Mashinostroyenia in August 2021 to deliver 3M22 Zircon hypersonic missiles.

The Middle East will also experience considerable growth throughout the forecast period. This rise is due to the projected deployment of missile technology by Saudi Arabia and Turkey. The Rest of the World is expected to grow considerably throughout the projected period, owing to increased defence expenditure in Latin America and Africa.