Rockets and Missiles Market: Drivers and Challenges

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In-Depth Analysis of Rockets and Missiles Market
Share, Trends and Forecast to 2026 According to
the new research report, the "Rockets and
Missiles Market by Speed (Subsonic, Supersonic,
Hypersonic), Product, Propulsion Type (Solid,
Liquid, Hybrid Propulsion, Ramjet, Turbojet and
Scramjet), Guidance Mechanism (Guided and
Unguided), Launch Platform Region - Forecast to
2026", published by MarketsandMarkets, the
Rockets and Missiles Market size is projected to
grow from USD 58.3 billion in 2021 to USD 73.8
billion by 2026, at a CAGR of 4.8 from 2021 to
2026. The demand for these weapons has
witnessed significant
growth rising
recently due to threats of
insurgencies that have highlighted the need for
precision stand-off Thus, it
attacks and surgical strikes. is imperative to
avoid collateral damage and provide combatants
with
advanced weapons have led to the growth of
Rockets and Missiles market. Download PDF
Brochure _at_ https//www.marketsandmarkets.com/pdfdo
wnloadNew.asp?id203298804 The Rockets and
Missiles market includes major players Northrop
Grumman Corporation (US), Lockheed Martin
Corporation (US), BAE Systems (UK), and Thales
Group (France). These players have spread their
business across various countries includes North
America, Europe, Asia Pacific, and Rest of the
World. COVID-19 has impacted their businesses as
well. Industry experts believe that COVID-19 has
affected missile defense system production and
services globally in 2020. Defense programs to
defend nations against various threats. The
performance of US weapon systems is unmatched,
ensuring that the US defense forces have a
tactical combat advantage over any adversary in
any weather condition. The Fiscal Year (FY) 2020
acquisition (Procurement and Research,
Development, Test, and Evaluation (RDTE))
funding requested by the US Department of Defense
(DoD) totals USD 247.3 billion, which includes
funding in the Base budget and the Overseas
Contingency Operations (OCO) fund, totaling USD
143.1 billion for Procurement and USD 104.3
billion for RDTE. The funding in the budget
request represents a balanced portfolio approach
to implement the military force objective
established by the National Defense Strategy. Of
the USD 247.3 billion in the request, USD 83.9
billion finances Major
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Defense Acquisition Programs (MDAPs), which are
acquisition programs that exceed a cost
threshold established by the Under Secretary of
Defense for Acquisition and Sustainment. Accordin
g to the Missile Defense Agency, there has been
an increase of over 1,200 additional ballistic
missiles over the last 5 years. The total of
ballistic missiles outside the US, the North
Atlantic Treaty Organization, Russia, and China
has risen to over 5,900. Hundreds of launchers
and missiles are currently within the range of US
deployed forces. Hence, the increasing need for
defense programs by nations to defend against
various threats is driving the ROCKETS AND
MISSILES market. The missile segment is projected
to grow at the highest CAGR rate for the ROCKETS
AND MISSILES market during the forecast period. A
missile plays an important role in ROCKETS AND
MISSILES majorly for land, air, and marine
platforms. The missile segment has been further
sub-segmented further segmented into cruise
missiles and ballistic missiles. The missile
segment is projected to reach USD 57.1 billion
by 2026. In the Asia Pacific region, this segment
is projected to register the highest CAGR during
the forecast period. Browse in-depth TOC on
"Rockets and Missiles Market" 250 Tables 51
Figures 245 Pages The hypersonic segment is
projected to register the highest CAGR of 6.6
during the forecast period Based on speed, the
ROCKETS AND MISSILES market has been segmented
into subsonic, supersonic, and hypersonic.
Hypersonic rockets and missiles are equipped
with a propulsion system to enable them to attain
a speed of Mach 5 or higher, which is five times
faster than the speed of sound. Hypersonic
precision-guided weapons are difficult to
counter due to their high speed. Currently, these
weapons are in a development phase and are
expected to be operational in the near
future. The solid propulsion segment is projected
to grow at the highest CAGR rate for the ROCKETS
AND MISSILES market during the forecast
period. Based on propulsion type, the ROCKETS AND
MISSILES market has been segmented into Solid,
Liquid, Hybrid Propulsion, Ramjet, Turbojet, and
Scramjet. Solid propulsion uses solid
propellants to boost missiles and rockets. Solid
propellants consist of a homogenous mixture of
various composites, which are easier to store and
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handle. These systems cost less and offer a large
amount of thrust to the missiles.
High-performance propellants and modified grains
enhance the capability of solid propulsion. By
launch mode, the surface-to-surface segment is
estimated to account for the largest share (31)
of the ROCKETS AND MISSILES market in 2021 Based
on launch mode, the ROCKETS AND MISSILES market
has been segmented into surface to surface,
surface to air, air to air, air to surface, and
subsea to surface. Surface to surface rockets
and missiles are fired from the ground or the
sea. They can be launched from hand-held or
vehicle-mounted devices or fixed installations.
These missiles used in land warfare operations
are designed to hit ground or sea targets.
Hence, they are also known as ground to ground
rockets and missiles. The North American market
is projected to contribute the largest share from
2021 to 2026 North America is projected to be
the largest regional share of ROCKETS AND
MISSILES market during the forecast period. Major
companies such as Northrop Grumman Corporation,
Lockheed Martin, Raytheon Technologies, and
General Dynamics Corporation are based in the
US. These players continuously invest in the RD
of new and advanced technology used in rocket and
missile market. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id203298804
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