Rockets and Missiles Market - Global Industry Analysis, Size, Share, Growth | 2025
The
global rockets and missiles market has the leading few companies
holding a good command on consumers across the globe, with the top
four companies collectively accounting for a commendable share of
over 65% in 2016, states Transparency Market Research in a recent
report. The consolidated market is intensely competitive in nature
and brand power makes the market difficult to breach for new vendors.
The top four companies in the market, namely Lockheed Martin Corp.,
Raytheon Co., Thales Group, and Northrop Grumman Corp., continue to
assert dominance with highly innovative product offerings, long-term
contracts, and massive financial resources to ramp up the level of
technological advancement in their products.
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To
achieve sustainable returns in the face of intensifying competition,
companies in the market are focusing on growth strategies such as
mergers and acquisitions, collaborations, and more stress on research
and development activities. These activities are expected to further
intensify the level of competition in the global market for rockets
and missiles.
TMR
estimates that the global market for rockets and missiles will expand
at a moderate 3.2% CAGR over the period between 2017 and 2025, rising
from a valuation of US$32.10 bn in 2016 to an opportunity of US$43.01
bn by 2025.
North
America to Continue to Hold Top Post in Global Market
In
terms of type of rockets, the global rockets and missiles market
witnessed the most promising business prospects for the segment of
artillery rockets in 2016. The segment, venerated for its ability of
destroying multitude of enemy weapons such as tanks, naval ships,
armored vehicles, and submarines, is expected to continue to command
a prominent position in terms of demand and sales in the global
market over the forecast period as well.
In
terms of geography, the market in North America dominated the global
rockets and missiles market in terms of revenue contribution in 2016.
The regional market accounted for over 30% of the global market in
the said year and is expected to further add to its share in the
global market over the report’s forecast period. Presence of some
of the leading vendors in the global market and the rising defense
budgets of the U.S. will play a key role in strengthening North
America’s role in global rockets and missiles market in the near
future.
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