Rocket & Missiles Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™

The global rocket
missile market size is projected to reach USD 71.79 billion by
2027, exhibiting a CAGR of 4.52% during the forecast period. Growing
utilization of 3D printing technology in the production of weapons systems
worldwide is expected to aid the market make considerable gains, finds Fortune
Business Insights™ in its report, titled “Rocket and Missile Market Size, Share and COVID-19 Impact Analysis, By Type
(Missile and Rocket) By Platform (Airborne, Naval, and Ground) By Launch Mode
(Surface-to-Surface, Surface-to-Air, Air-to-Air, Air-to-Surface, and
Subsea-to-Surface,) By Propulsion (Solid, Liquid, Hybrid, Scramjet, Cryogenic,
and Ramjet), and Regional Forecast, 2020-2027”. Many governments and private defense
manufacturers are exploring the potential of additive manufacturing techniques
in the designing and engineering of rockets and missiles for space exploration
and military purposes. This rising interest is owing to the ability of 3D
printers to produce virtually any kind of three-dimensional metallic and
plastic objects.

List of the Leading
Companies Profiled in the Rocket and Missile Market Research Report are:

• Thales Group (France)


• ROKETSAN A.S.  (Turkey)


• Rafael Advanced Defense Systems Ltd. (Israel)


• MESKO (Poland)


• Lockheed Martin Corporation (The U.S.)


• General Dynamics Corporation (The U.S.)


• Saab AB (Sweden)


• Raytheon Technologies Corporation (The U.S.)


• Nammo AS (Norway)


• MBDA  (France)


• KONGSBERG (Norway)


• Denel Dynamics (South Africa)

For example, US-based Lockheed Martin
announced its plans in 2017 to develop the country’s next generation of
intercontinental ballistic missiles (ICBMs) using 3D printing. In the space
domain, NASA and Space X are aggressively experimenting with 3D printing to
produce rocket engines for spacecraft. Thus, widening application of additive
manufacturing techniques in the aerospace and defense industry will augur well
for this market in the near future.

Worldwide COVID-19
Impact Analysis:

The emergence of COVID-19 has brought
the world to a standstill. We understand that this health crisis has brought an
unprecedented impact on businesses across industries. However, this too shall
pass. Rising support from governments and several companies can help in the
fight against this highly contagious disease. Some industries are struggling
and some are thriving. Overall, almost every sector is anticipated to be
impacted by the pandemic.

We are making continuous efforts to
help your business sustain and grow during COVID-19 pandemics. Based on our
experience and expertise, we will offer you an impact analysis of coronavirus
outbreak across industries to help you prepare for the future.

Study Period:
2016-2027

Base Year: 2019

Forecast Period: 2020-2027

Historical Period: 2016-2018 

According to the report, the market
value was at USD 52.54 billion in 2019. Its other highlights
include:

• In-depth analysis of the key factors driving
  and restraining the market growth;


• Comprehensive study of all segments of the
  market;


• Identification of upcoming market
  opportunities; and


• Detailed evaluation of the impact of the
  changes in the regional and competitive dynamics on the market.

Market Restraint:

Supply Chain
Disruptions Caused by the COVID-19 Outbreak to Stall Market Growth

The rocket and missile market growth is
likely to get hampered throughout 2020 by the outbreak of the COVID-19
contagion. The pandemic has led to unforeseen shocks to supply chains
worldwide, crippling defense manufacturing activities around the globe. For
instance, the Italian shipbuilding company, Fincantieri, was forced to halt its
operations in March 2020 as the coronavirus spread like wildfire around the
world. Accentuating these disruptions is the suspension of business development
activities in the defense sector.

For example, planned expos such as the
EUROSATORY 2020, where procurement contracts are finalized, now face an
uncertain future, further affecting this industry. Moreover, major players in
rockets and missiles domain are also witnessing a sharp fall in their stock
prices. For instance, between February and March, stock value of the Thales
Group fell by 33%, while Leonardo’s declined by 55%. The cascading effect of
the coronavirus pandemic is, therefore, expected to negative on this growth in
the immediate future.

Regional Insights

High Military
Expenditure to Favor Market Growth in North America

One of the prominent factors supporting
the growth of this market in North America is the consistently high levels of
military spending in the US. This coupled with rapid adoption of advanced
military technologies in the US and Canada will aid the region command the
rocket and missile market share in the foreseeable future. In 2019, the
region’s market size was at USD 15.03 billion.

Asia Pacific is expected to exhibit
notable growth in the market owing to rising uptake of multiple independent
re-entry vehicles (MIRV) by the Chinese army. On the other hand, in Europe, the
market is set to experience promising growth on account of increasing
investment by private defense companies in ballistic missiles to cater to the
military needs of European countries.



Competitive Landscape:

Close Collaborations
between Governments and the Private Sector to Characterize the Market

The competitive landscape of this
market is highly charged up as a result of the increasing number of
collaborations between private defense contractors and government defense
agencies. This is represented through frequent awarding of contracts and other
deals to top market players by the US Armed Forces.

Rocket & Missiles
Market report Focus on:

• Extensive product offerings


• Customer research services


• Robust research methodology


• Comprehensive reports


• Latest technological developments


• Value chain analysis


• Potential Market opportunities


• Growth dynamics


• Quality assurance


• Post-sales support


• Regular report updates

Reasons to Purchase
this Report:

• Comprehensive analysis of the market growth
  drivers, obstacles, opportunities, and other related challenges.


• Tracks the developments, such as new product
  launches, agreements, mergers and acquisitions, geographical expansions,
  and joint ventures.


• Identifies market restraints and boosters.


• Identifies all the possible segments present
  in the market to aid organizations in strategic business planning. 
    

Key Questions
Answered:

• Why Choose Fortune Business Insights?


• What are the key demands and trends shaping
  the market?


• What are the key opportunities in the market?


• What are the key companies operating in the
  market?


• Which company accounted for the highest market
  share?


• What is the market size and growth rate of the
  global and regional market by various segments?


• What is the market size and growth rate of the
  market for selective countries?


• Which region or sub-segment is expected to
  drive the market in the forecast period?


• What Factors are estimated to drive and
  restrain the market growth

Industry
Developments:

• March 2020: Raytheon Company secured a USD 1 billion-worth agreement to buy
  propulsion systems for their standard missile products from Aerojet
  Rocketdyne. The agreement will span five years and is focused on
  optimizing supply chain dynamics between the two companies.


• April 2020: The US Army awarded a contract of estimated value of $6.07 billion
  to Lockheed Martin to produce and deliver Patriot Advanced Capability-3
  (PAC-3) Missile Segment Enhancement interceptors over three years till
  2023. This will bolster US’s position as a major supplier of missile
  interceptors among other leading world economies.

Browse Detailed
Research Report with Impact of COVID-19:

https://www.fortunebusinessinsights.com/industry-reports/rocket-and-missiles-market-101822

 

Table of Content:

• Introduction




• Research Scope


• Market Segmentation


• Research Methodology


• Definitions and Assumptions




• Executive Summary


• Market Dynamics




• Market Drivers


• Market Restraints


• Market Opportunities




• Key Insights




• Key Industry Developments – Key Contracts
  & Agreements, Mergers, Acquisitions and Partnerships


• Latest technological Advancements


• Porters Five Forces Analysis


• Supply Chain Analysis




• Quantitative Insights-Impact of COVID-19
  Pandemic on Global Rocket and Missile Market

• Impact of COVID-19 Pandemic on Global Rocket
  & Missile Market


• Steps Taken by Industry/Companies/Government
  to Overcome the Impact


• Key Development in the industry in Response
  to COVID-19 Pandemic


• Potential Opportunities due to COVID-19
  Outbreak

TOC Continued...!!!

Have a Look at Related Research Insights:

C5ISR Market Size,
Share and Industry Analysis, By Type (Land, Naval, Airborne, Space), By
Application (Electronic Warfare, Surveillance and Reconnaissance, Intelligence,
Command, and Control), By Solution (Product and Services), and Regional
Forecast, 2019- 2026

Air and Missile Defense Radar Market Size, Share & Industry Analysis By Range
(Short, Medium, Long), By Platform (Airborne, Naval, Land), By Application
(Ballistic Missile Defense (BMD), Conventional)and Regional Forecast, 2019-2026

Electronic Warfare Market Size, Share & COVID-19 Impact Analysis,
By Domain (Electronic Attack, Electronic Protection, and Electronic Support),
By Equipment (Jammers, Antennas, Radar Warning Receiver, Anti-radiation
Missiles, Directed Energy Weapons, and Others), By Platform (Air-based,
Sea-based, Land-based), and Regional Forecast, 2020-2027

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Read Press Release:

https://www.fortunebusinessinsights.com/press-release/global-rocket-and-missile-market-10098