26 March 2021
Visiongain has published a new report on Rockets and Missiles Market Report to 2031: By Type (Missile and Rocket), By Subtype (Ballistic Missile, Cruise Missile, Artillery Rocket, Air-launched Rocket), By Propulsion (Solid Propulsion, Liquid Propulsion, Hybrid Propulsion, Ramjet, Turbojet, and Scramjet), and By Launch Mode (Surface-to-Surface (SSM), Surface-to-Air (SAM), Air-to-Surface (ASM), Air-to-Air (AAM), and Subsea-to-Surface (SuSM)). PLUS, Profiles of Leading Rocket and Missile Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Rocket and Missile market was valued at US$ xx billion in xx and is projected to reach at a market value of US$ xx billion by 2031.
COVID-19 Impact on Rocket and Missile Market
The COVID-19 pandemic has impacted lives of people all around the globe. It has proved quite detrimental for business across the globe and no industry and remained untouched by its impacts. This pandemic has caused a serious disruption in the supply chain and has resulted in a huge supply-demand gap in the market for rockets and missiles worldwide.
Increasing Defense Expenditure of Emerging Economies
The rising investments in procuring state-of-the-art defense equipment in the wake of growing conflicts and terrorist activities across various countries belonging to the Middle-East and Asia-Pacific regions is anticipated to drive the growth of rocket and missile market over the forecast timeframe.
Changing Nature of Warfare
The continuous advancements in developing hi-tech weaponry over the years have tremendously changed the nature of wars today. Now, a minimum number of soldiers directly wage war against each other. Mostly, the wars make use of advanced rockets and missiles to target the main establishments of the enemies.
Access to Advanced Technologies Through MTCR Membership
Through MTCR partnership, its members can play an active role in curbing the global missile non-proliferation threat. Partners also benefit from discussions and exchanges of information on licensing, interdiction, best practices, and cooperate to impede specific shipments of concern with regards to missile proliferation.
Development of Hybrid Fuel Powered Missiles
As hybrid propulsion system offers the advantages of both solid and liquid propulsions, it is growing in demand across the globe across several rocket and missile types.
Some of the companies profiled in the report include Lockheed Martin, MBDA Holdings SAS, Rafael Advanced Defense Systems Ltd., The Raytheon Company, Saab AB, Nammo as, Kongsberg Gruppen ASA, Thales Group, General Dynamics Corporation, and Mesko S.A.
In June 2020, General Dynamics Corp. secured a $3.42 billion contract to supply the U.S. Army with production and engineering services for its Hydra-70 rocket systems.
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