The Global Rockets and missiles industry are both types of projectiles that are designed to be propelled through the air. However, there are some differences between the two. A rocket is a type of projectile that is propelled by the ejection of matter from the rear of the rocket. This matter, which is usually a gas or liquid, is expelled from the rocket at high speed, creating a reaction force that propels the rocket forward. Rockets are commonly used in space exploration, as well as for military and scientific purposes.
Information Source:
https://www.fortunebusinessinsights.com/industry-reports/rocket-and-missiles-market-101822
The global rocket and missile industry 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 industry Size, Share and Global Trend By Propulsion (Solid,Liquid,Hybrid,Scramjet, Cryogenic, and Ramjet), and Regional Forecast, 2020-2027”.
A missile, on the other hand, is a guided projectile that is typically designed to be launched from a vehicle or platform and directed toward a specific target. Missiles can be propelled by a variety of means, including rockets, jet engines, or even ramjet engines.
List of Companies Profiled in the Rocket and Missile Market Report:
- 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)
Missiles can be further classified into several different types, including cruise missiles, ballistic missiles, and anti-ship missiles. Cruise missiles are designed to fly at low altitudes and follow a pre-programmed flight path to their target. Ballistic missiles, on the other hand, are designed to travel in a high, arching trajectory before descending toward their target. Anti-ship missiles are specifically designed to target naval vessels.
Both rockets and missiles have a wide range of applications, from space exploration and scientific research to military operations and national defense. They are both powerful tools that can be used to achieve a variety of different objectives, depending on their design and intended use.
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.
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.
