Missiles Global Market To Reach Value Of About $19.5 Billion In 2025

The missiles market consists of sales of missiles by entities (organizations, sole traders and partnerships) that produce missiles. A missile is a guided airborne ranged weapon designed to deliver an explosive warhead at high speed with great accuracy.

Global Missiles Market Size And Drivers:

The global missiles market is expected to grow from $15.98 billion in 2020 to $16.21 billion in 2021 at a compound annual growth rate (CAGR) of 1.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $19.48 billion in 2025 at a CAGR of 4.7%. Increased defense spending is expected to fuel the growth of the missiles market.

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Trends In The Global Missiles Market

Artificial intelligence is a key trend gaining the popularity in the missiles market. Countries across the world are designing artificial intelligence missiles to hit targets that humans cannot reach. Artificial intelligence gives missiles the potential to strike moving targets and also provides greater accuracy over other technologies. For example, the US Army project in August 2019, the Cannon-Delivered Area Effects Munition (C-DAEM) aims to create missiles with artificial intelligence to select their targets beyond the reach of human surveillance.

Global Missiles Market Segments:
The global missiles market is further segmented –
By Product Type: Cruise Missiles, Ballistic Missiles
By Range: Short Range Missile, Medium Range Missile, Intermediate Range Missile
By Propulsion Type: Ramjet, Scramjet, Turbojet, Liquid Propulsion, Solid Propulsion, Hybrid Propulsion
By Application: Defense, Homeland Security
By Geography: The global missile market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Missiles Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides missiles market overviews, analyzes and forecasts market size and growth for the global missiles market, missiles market share, missiles market players, missiles market segments and geographies, missiles market’s leading competitors’ revenues, profiles and market shares. The missiles market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.