Rocket and Missile Market
Rocket and Missile Market (Product - Missile (Cruise Missile (Surface-to-air Missile, Anti-ship Missile, Anti-tank Missile, Anti-submarine Missile), Ballistic Missile); Rocket - Artillery Rocket, Air-to-ground Rocket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Efforts to Endow Hi-tech Weapons to magnify Defense Capabilities spurs Growth in Rocket and Missiles Market
Featuring high precision and accuracy for critical applications in military, defense, and homeland security, the ever-expanding demand for rocket and missiles is fuelling the rocket and missiles market. In the interest of national security, the defense and homeland security department of a country need to be equipped with technologically advanced rockets and missiles. Governments worldwide spend very large sums of money to acquire avant-garde defense and security gear, of which rockets and missiles are crucial.
North America rockets and missiles market is predicted to rise at a notable growth rate in the forthcoming years. Factors such as massive defense budgets, presence of some large players, and in general early adoption of technology in several countries fuel growth in the rockets and missiles market of the region. The U.S. accounts for significant share in the rockets and missiles market of the region. This is due to the increasing demand from the defense forces to acquire avant-garde security gear in the interest of national security.
In Asia Pacific, developing economies such India are anticipated to provide tremendous growth opportunities to the rockets and missiles market. Substantial increase in budgets for national security is leading to purchase of highly advanced security gear to create opportunities in the overall rockets and missiles market.
The outbreak of COVID-19 impacted the growth of rockets and missiles market to a considerable extent. Disruption of supply chains, logistics matters, and lockdowns imposed in several parts of the world slowed the growth of rockets and missiles market due to the pandemic. However, lifting of lockdowns and restart of work in industrial and technological sectors is opening vistas for the rockets and missiles market.
Key companies operating in the rockets and missiles market include Lockheed Martin Corporation, Northrop Grumman Corporation, General Dynamics Corporation, Leonardo, MBDA Missiles Systems, BAE Systems, Raytheon Company, Boeing, Thales Group, and Rafael Advanced Defense Systems.
Global Rocket & Missile Market: Overview
The report provides analysis of the global rocket & missile market for the period from 2017 to 2027, wherein 2019–2027 is the forecast period and 2018 is considered the base year. Data for 2017 has been included as historical information. The report covers all trends and technologies likely to affect the market during the forecast period. It highlights drivers, restraints, and opportunities for the global Rocket & Missile Market. The study provides complete information about the market in terms of revenue (US$ Mn) across different regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report also highlights key trends affecting the global market. The report covers region-wise prominent countries/sub-regions such as the U.S, Canada, Germany, France, the U.K., India, China, Japan, GCC, South Africa, and Brazil.
The report analyzes and forecasts the market for rocket & missile at the global and regional levels. The market has been forecast based on revenue (US$ Mn) from 2019 to 2027. The study includes drivers and restraints of the global Rocket & Missile Market. It also covers the expected impact of these drivers and restraints on the market during the forecast period.
The report comprises a detailed value chain analysis which provides a comprehensive view of the global Rocket & Missile Market. Porter’s Five Forces model for the market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein product segments have been benchmarked based on their market size, growth rate, and general attractiveness.
Global Rocket & Missile Market: Taxonomy
The report segments the global rocket & missile market based on product and region. In terms of product, the market has been classified into missile and rocket. The missile segment has been sub-categorized into cruise missile and ballistic missile. Moreover, the cruise missile sub-segment has been further divided into surface-to-air missile, anti-ship missile, anti-tank missile, anti-submarine missile, and others. Based on region, the global rocket & missile market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Global Rocket & Missile Market: Research Methodology
Secondary research sources that are typically referred to include company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, internal and external proprietary databases, relevant patent and regulatory databases, national government documents, statistical databases, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market segment and sub-segment across regions. Primary interviews are conducted on an ongoing basis with market participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competition landscape, and market outlook. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Global Rocket & Missile Market: Competition Dynamics
Lockheed Martin Corporation, BAE Systems, Northrop Grumman Corporation, Raytheon Company, General Dynamics Corporation, Boeing, Thales Group, Leonardo, Rafael Advanced Defense Systems, and MBDA Missiles Systems are major players operating in the global Rocket & Missile Market. Financials, SWOT analysis, business strategies, recent developments, and other strategic information pertaining to these players have been provided in the company profiles section.
The global rocket & missile market has been segmented as follows: