Rocket and Missile Companies

The rocket and missile market is projected to reach USD 85.22 billion by 2029, from USD 62.50 billion in 2024, at a CAGR of 6.4%. The growth of the rockets and missiles market is driven by several factors, including increasing defense programs aimed at enhancing the country security against threats. There is a surge in demand for missiles and rockets due to ongoing conflicts, along with rising global defense expenditure. Additionally, the development of missile defense systems and the nature of warfare contribute to this market expansion, as governments attempt to improve their military capabilities and preparation.

Lockheed Martin Corporation (US), RTX (US), BAE Systems (UK), Northrop Grumman (US) and Boeing (US) are some of the leading companies in the market. These companies have implemented various growth strategies such as the development of advanced rocket and missile technologies, partnerships, contracts, joint ventures and acquisitions to strengthen their position in the rocket and missile market. The organic and inorganic strategies have helped the market players expand globally.

To know about the assumptions considered for the study download the pdf brochure

Major Rocket and Missile companies include:

• Lockheed Martin Corporation (US)
• RTX (US)
• BAE Systems (UK)
• Northrop Grumman (US)
• Boeing (US)
• Israel Aerospace Industries (Israel)
• Thales (France)
• LIG Nex1 (South Korea)
• Saab AB (Norway)
• MBDA (France)
• KONGSBERG (Norway)
• Hanwha Aerospace (South Korea)
• Elbit Systems Ltd. (Israel)
• RAFAEL Advanced Defense Systems Ltd. (Israel)
• General Atomics (US)
• Denel Dynamics (South Africa)

Lockheed Martin Corporation (US)

Lockheed Martin Corporation focuses on research, design, development, and integration of advanced technology systems and related products.  The company generates revenue through following segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The Missiles and Fire Control division includes such systems as air and missile defense systems, tactical missiles, and precision strike weapon systems. Other notable programs include Patriot Advanced Capability-3, Terminal High Altitude Area Defense, Multiple Launch Rocket System, Precision Strike Missile, Joint Air-to-Surface Standoff Missile, Long Range Anti-Ship Missile, and HELLFIRE Missile. It also develops hypersonic strike weapons and produces the Javelin anti-tank missile. Lockheed Martin has around 572 manufacturing plants in over 500 cities across 50 states in the US. Its subsidiaries are Lockheed Martin UK Limited, Lockheed Martin Global, Inc., Lockheed Martin Australia Pty Limited, Lockheed Martin Canada Inc., and Lockheed Martin Logistics Management, Inc.

RTX (US)

RTX, formerly Raytheon Technologies, is one of the leading multinational aerospace and defense conglomerates. The company researches, develops, and manufactures advanced technology products in the aerospace and defense sector, including aircraft engines, avionics, aerostructures, cybersecurity, guided missiles, air defense systems, satellites, and drones. It is also a large military contractor, generating substantial revenue from the US government. RTX operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Raytheon segment produces a broad portfolio of air & missile defense systems, precision weapons, radars, and command and control systems, which deliver end-to-end solutions to detect, track, and engage threats. It excels in producing tactical rocket systems for ground forces, air-launched rockets for aerial engagements, and space launch vehicles for satellite deployment and exploration missions.

BAE Systems (UK)

BAE Systems is one of the key players in the aerospace, defense, and security sectors. The company operates through five segments: Electronic Systems, Cyber & Intelligence, Platforms & Services, Air, and Maritime. It designs and manufactures naval gun systems, munitions, torpedoes, radars, naval command and combat systems, artillery systems, and missile launchers. It also designs and manufactures missiles and missile systems through a 37.5% interest in MBDA. BAE Systems manufactures artilleries and missile launchers for the US, the UK, and other armed forces. Evolved SeaSparrow Missile (ESSM) is a medium-range surface-to-air missile designed by the company to defend warships from anti-ship cruise missiles. It has a presence in Australia, India, Saudi Arabia, the UK, and the US. Its subsidiaries include BAE Systems Integrated System Technologies, BAE Systems Maritime – Submarines, and BAE Systems Military Air & Information.

Northrop Grumman (US)

Northrop Grumman is one of the leading security companies worldwide, providing innovative cyber and C4ISR systems and solutions. The company also offers a comprehensive portfolio of innovative systems, platforms, and solutions for applications ranging from undersea to outer space and cyberspace. It operates through four segments: Aeronautics Systems, Mission Systems, Defense Systems, and Space Systems. Additionally, Northrop Grumman operates a Rockets and Missiles Division specializing in cutting-edge missile and rocket systems. With a strong focus on innovation and technological advancement, the division designs, develops, and manufactures an extensive portfolio of state-of-the-art products, including advanced missile systems for air defense, precision strikes, and surface-to-surface engagements, alongside diverse rocket platforms for ground forces, aerial engagements, and space exploration missions. Its expertise extends to strategic ICBMs for national security and nuclear deterrence.

Boeing (US)

Boeing designs, manufactures, and distributes various aerospace products, including airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles. The company also offers leasing and product support services. Its operations are structured across three segments: Commercial Airplanes (BCA), Defense, Space & Security (BDS), and Global Services (BGS). The BDS segment is involved in the research, development, production, and modification of defense systems, including rockets and missiles. It provides weapons, cruise missile systems, laser weapon systems, and integrated air and missile defense systems to the US Department of Defense and over 40 international partners. Boeing continues to expand its production capacity and capabilities to fulfill weapons programs, including the Joint Direct Attack Munition (JDAM), Small Diameter Bomb (SDB), Harpoon, Patriot Advanced Capability-3 (PAC-3) Missile Seeker, and Standoff Land Attack Missile Expanded Response (SLAM ER).

Related Reports:

Rocket and Missile Market by Product (Missiles, Rocket Artilleries, Torpedoes), Speed (Subsonic, Supersonic, Hypersonic), Propulsion Type (Solid, Liquid, Hybrid, Ramjet, Turbojet), Launch Mode, Guidance Mechanism and Region - Global Forecast to 2029

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]