Rocket and Missile Market Report 2026

Rocket and Missile Market Overview

• Rocket and Missile market size has reached to $68.26 billion in 2025 • Expected to grow to $91.76 billion in 2030 at a compound annual growth rate (CAGR) of 5.9% • Growth Driver: Elevated Defense Budgets Propelling Growth In The Rocket And Missile Market • Market Trend: Strategic Innovations In The Rocket And Missile Market • North America was the largest region in 2025.

What Is Covered Under Rocket and Missile Market?

Rockets and Missiles refer to a category of military weapons system that uses rocket propulsion to deliver explosive warheads to their targets. The primary purpose of rockets is not only used in weapons but to deliver scientific apparatus or humans to regions inaccessible by conventional modes of transportation. Additionally, a missile is an autonomous uncrewed rocket capable of delivering a payload to a specific location to destroy the object/target. The main type of rocket and missile are missile and rocket. A missile is a flying weapon with an engine that allows it to travel long distances. It flies enormous distances in the air before exploding when it reaches its target. It includes guidance type that has guided and self-guided rocket and missile, which uses different propulsion such as ramjet, turbojet, scramjet, liquid propulsion, solid propulsion, and hybrid propulsion. It is applied towards air-to-air, air-to-surface, surface-to-air, surface-to-surface, air-to-marine, and marine-to-air.

What Is The Rocket and Missile Market Growth Forecast?

The rocket and missile market size is expected to see strong growth in the next few years. It will grow to $91.76 billion in 2030 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to growing development of next-generation precision-guided missiles with enhanced targeting accuracy, rising investment in hypersonic weapon technologies driving demand for advanced propulsion systems, increasing adoption of modular missile architectures enabling faster production and customization, advancement in lightweight materials supporting improved missile speed and maneuverability, expanding global security concerns driving continued procurement of multi-role rockets and missiles. Major trends in the forecast period include miniaturization of guidance and actuator systems, increased emphasis on multirole/dual-use missile systems, modularization and commonality of subsystems across missile families, growth in indigenous propulsion and solid motor manufacturing programs, expanded focus on countermeasures and survivability (ecm/decoys).

Global Rocket and Missile Market Segmentation

1) By Type: Missile, Rocket 2) By Guidance Type: Guided, Self-Guided 3) By Propulsion Type: Ramjet, Turbojet, Scramjet, Liquid Propulsion, Solid Propulsion, Hybrid Propulsion 4) By Platform: Air-To-Air, Air-To-Surface, Surface-To-Air, Surface-To-Surface, Air-To-Marine, Marine-To-Air Subsegments: 1) By Missile: Tactical Missiles, Strategic Missiles, Cruise Missiles, Ballistic Missiles, Air-To-Air Missiles, Surface-To-Air Missiles 2) By Rocket: Launch Vehicles, Space Rockets, Sounding Rockets, Military Rockets, Propellant Rockets

What Is Driver Of The Rocket and Missile Market?

The rising defense budget is expected to boost the growth of the rocket and missile market going forward. A defense budget refers to a financial plan or allocation of funds set aside by a government or a nation to cover the costs associated with its military and defense-related activities. Increased defense budgets provide the financial means necessary for robust research, development, procurement, and maintenance of advanced rocket and missile systems, thereby strengthening a nation's defense capabilities and driving growth in the rocket and missile market. For instance, in October 2025, according to the UK Parliament's House of Commons Library, a UK-based government administration, Defence spending outlined in the 2025 Spending Review is expected to total USD 83.3 billion (£62.2 billion) in 2025/26, increasing to USD 98.2 billion (£73.5 billion) in 2028/29, which corresponds to an annual average real-terms growth rate of 3.8% over this period. Therefore, the rising defense budgets are driving the growth of the rocket and missile industry.

Key Players In The Global Rocket and Missile Market

Major companies operating in the rocket and missile market are Denel Dynamics (Pty) Ltd., General Dynamics Corporation, Kongsberg Defence & Aerospace AS, Lockheed Martin Corporation, MBDA Incorporated, Roketsan Roket Sanayii ve Ticaret A.S., Mesko S.A., Nordic Ammunition Company, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, Saab AB, Thales Group, Bharat Dynamics Limited, Aerojet Rocketdyne Holdings Inc., Hindustan Aeronautics Limited, Larsen & Toubro Ltd., Rostec State Corporation, Tactical Missiles Corporation, Almaz-Antey Concern, Novator Design Bureau, JSC Makeyev Design Bureau, Yuzhnoye Design Office, YUZHMASH, Pakistan Ordnance Factories, Konstruktorskoye Byuro Radioelektronnykh Priborov, NPO Mashinostroyenia, The Boeing Company, Northrop Grumman, Defence Research and Development Organisation

Global Rocket and Missile Market Trends and Insights

Major companies operating in the rocket and missile market are developing advanced technologies such as air missiles to meet larger customer bases, more sales, and increase revenue. An air missile, commonly referred to as a guided missile or simply a missile, is a propelled projectile that is designed to navigate through the air towards a specific target. For instance, in February 2023, Bharat Dynamics Limited (BDL), an India-based manufacturer of ammunition and missile systems, launched Vertical Launched VL SR SAM, a Semi-Active Laser Seeker Homing Anti-Tank Guided Missile and Drone Delivered Missile. The VL SR SAM stands out as an advanced, ship-based, all-weather air defense system, designed for rapid response in safeguarding against supersonic sea-skimming threats. Comprising a canisterized missile, Weapon Control System (WCS), Vertical Launcher Unit (VLU), Multi-Function Radar (MFR), Launcher Control System (LCS), Data Link Transceiver (DLX), and Inertial Navigation System (INS), this next-generation system offers a comprehensive defense solution. The Semi-Active Laser Seeker Homing Anti-Tank Guided Missile, characterized by its subsonic nature, boasts a 4000-meter range and a 25-second flight time. Notably versatile, it can be deployed from either a tripod or a BMP, providing flexibility in various scenarios. The Drone Delivered Missile stands out for its lightweight and miniaturized design, specifically tailored for engaging soft-skinned targets. With a range of 1.5 km and a swift flight time of 9 seconds, it excels in addressing threats delivered by drones with efficiency and precision.

What Are Latest Mergers And Acquisitions In The Rocket and Missile Market? L3Harris Technologies Inc. Acquires Aerojet Rocketdyne Inc. to Strengthen Defense and Space Capabilities

In July 2023, L3Harris Technologies Inc., a US-based aerospace and defense company, acquired Aerojet Rocketdyne Inc. for an undisclosed amount. With this acquisition, L3Harris Technologies, Inc. aims to strengthen the defense industrial base, enhance competition, accelerate innovation in propulsion systems, expand its capabilities in missile defense, hypersonics, and advanced rocket engines, and establish a stable global supply network to better serve the Department of Defense and civil space customers worldwide. Aerojet Rocketdyne, Inc. is a US-based aerospace manufacturing company that specializes in providing propulsion systems, rocket engines, and energetics solutions for defense and space applications.

Regional Insights

North America was the largest region in the rocket and missile market in 2025. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain

What Defines the Rocket and Missile Market?

The rockets and missiles market consists of sales of control actuator systems, rocket motor, gas generators, turbine and pumps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Rocket and Missile Market Report 2026?

The rocket and missile market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the rocket and missile industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.