Demand for rockets and missiles advances due to rising military expenditure

Market - Mohit Shah - Jun 21,2017

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demand for rockets and missiles advances due to rising military expenditure

The rockets and missiles market on the worldwide level is expected to rise at a CAGR of 3.4% between 2017 and 2025; the valuation is anticipated to reach US$ 43.01 billion.

Rockets and missiles are designed with an aim to destroy the enemy aircrafts, tanks, helicopters, ships, armored vehicles, submarine and artilleries among others. It is interesting to know that, rockets are self-propelled, unguided munitions, powered by rocket motors or jet engines, while the missiles are self-propelled, guided weapons which are utilized for surface to air combat, air to air combat and air to surface combat.

It has been analyzed that, the year on year defense and military expenditure is growing in the developing countries. This factor is viewed as a major trend for the rockets and missiles market on the global level. Various defense forces around the world are constantly preparing their respective troops with the latest and improved rockets and missiles so as to strengthen their air force, armed force and naval force.

As per a recent report published by Market Research Reports Search Engine (MRRSE), the global rockets and missiles market is projected to rise at a CAGR of 3.4% between 2017 and 2025. If this pace is retained, the concerned market might surely reach a valuation of US$ 43.01 billion by the end of 2025. Technological advancements are surely going to push the rockets and missiles sector in the near future. These potential opportunities are offered by the manufacturing companies which are designing smokeless missiles. The smokeless missiles can be launched from an aircraft or a naval ship or from land, without offering any clue of the exact firing region to the enemy. 

Currently, the prime vendors of rockets and missiles include BAE Systems (U.K), Raytheon Company (U.S.), Northrop Grumman Corporation (U.S.), Lockheed Martin Corporation (U.S.), Boeing (U.S.), Leonardo (Italy) and General Dynamics Corporation (U.S.).

 

For more information on this report visit- http://www.mrrse.com/rockets-missiles-market