Summary

The global ballistic missiles market is projected to grow from approximately USD 5.2 billion in 2024 to USD 7.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of around 5.8% during the forecast period of 2025-2030.

This growth is primarily driven by the increasing number of wars and conflicts worldwide, prompting nations to enhance their offensive and defensive missile capabilities.

Industry Trends and Drivers

  • High Speed and Long Range: Ballistic missiles are favored for their ability to travel long distances at high speeds with relatively lower investment compared to targeted missiles. For example, China's DF-41 ballistic missile can travel between 12,000 to 15,000 kilometers at speeds around Mach 25, making it challenging for radar systems to detect.
  • Demand for Hypersonic Missiles: The deployment of advanced missile defense systems like THAAD, Aegis, and S-400 has increased the demand for hypersonic ballistic missiles capable of evading these defenses. Innovations in propulsion systems and multi-stage technology are being pursued to meet this demand.
  • Challenges in Precision: The inability to control traditional ballistic missiles post-launch necessitates precise calculations to avoid collateral damage. Inaccuracies, such as Iran's Emad missile missing its target by 65 kilometers, highlight the importance of precision to maintain credibility and effectiveness.

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Segmentation and Region

  • By Range:
    • Short-Range Ballistic Missiles
    • Medium-Range Ballistic Missiles
    • Intermediate-Range Ballistic Missiles
    • Intercontinental Ballistic Missiles (ICBMs): Dominated the market with a 59% share due to their extended range and high-speed capabilities.
  • By Launch Mode:
    • Surface to Surface
    • Surface to Air
    • Air to Air
    • Air to Surface
    • Subsea to Air
  • By Propulsion System:
    • Solid Propellant
    • Liquid Propellant
  • By Region:
    • Asia-Pacific: Expected to dominate the market with a projected share of around 38%, driven by increased defense spending in countries like China and India.

Market Leaders

Leading companies in the ballistic missiles market include:

  • Lockheed Martin
  • Northrop Grumman
  • General Dynamics
  • Israel Aerospace Industries
  • Safran
  • Ariane Group
  • Naval Group
  • Rosoboronexport
  • China Aerospace Corporation
  • Bharat Dynamics Limited
  • Korean Aerospace Industries
  • BAE Systems
  • Aerojet Rocketdyne
  • Raytheon Technologies
  • MBDA
  • Rostec
  • Thales Group
  • Hanwha Group
  • Roketsan Roket Sanayii ve Ticaret A.S

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