Ballistic Missiles Market Size to Hit USD 7.3 Billion Mark by 2030

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The Global Ballistic Missiles Market size was valued at around USD 5.2 billion in 2024 and is projected to reach USD 7.3 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.8% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. The rise in number of wars and conflicts between various countries is the main reason behind this growth. This is because such situations incline numerous nations to make their attack and defense stronger. As a result, the demand for ballistic missiles also increases as they are highly prominent in attacking their targets with high speed and accuracy. For instance, the US has invested more than USD 140 billion in the development of 634 LGM-35 Sentinel missiles, which are intercontinental ballistic missiles.

Moreover, various countries are getting themselves equipped with highly robust missile defense systems that are capable of identifying and destroying various ballistic missiles in their way before hitting the target. Such systems include THAAD, S-400, Aegis, and much more. For instance, the US approved an arms package sale to Taiwan consisting of a surface-to-air missile defense system worth around USD 2 billion in 2024. Such systems further increase the demand for robust ballistic missiles that can travel at a very speed and hit the target with high accuracy. Such systems also increase the demand for ballistic missiles that can carry multiple warheads because it will make it difficult for defense systems to counter all warheads simultaneously.

Furthermore, multi-stage ballistic missiles have witnessed high demand in recent years. These missiles use a propulsion system multiple times in their journey. This helps them to achieve high speed as during each propulsion, the weight of the missile is less as compared to previous propulsion, due to the burning of fuel. Some examples of multi-stage ballistic missiles are Minuteman III, Trident II D5, DF-26, Agni IV, and many more. Therefore, ballistic missiles have experienced high demand in past years, and this trend is expected to continue in the future as well due to the rising war situations, thus increasing demand for hypersonic ballistic missiles with high range, further states the research report, “Global Ballistic Missiles Market Analysis, 2025.”

Global Ballistic Missiles Market Segmentation Analysis

Intercontinental Ballistic Missiles Capture the Largest Market Share

Based on the range of ballistic missiles, the market is further bifurcated into Small-Range Ballistic Missiles, Medium-Range Ballistic Missiles, Intermediate-Range Ballistic Missiles, and Intercontinental Ballistic Missiles. Here, intercontinental ballistic missiles dominate the market with a market share of around 59%. This is because of the longer range and hypersonic speed of these missiles, which makes them highly capable of being used against enemies across boundaries amid the increasing wars and conflicts, thus attracting high investment from various nations. Additionally, these missiles are launched by proper examinations of various environmental parameters that ensure their precise approach towards the target. Therefore, the high speed, long range, and high precision of these missiles are the reason behind their dominance.

Asia-Pacific to Dominate the Global Ballistic Missiles Industry

Regionally, the Asia-Pacific region is expected to be the most prominent buyer of ballistic missiles in the forecast period with a market share of around 38%. This is due to the highest number of wars and conflicts occurring among various countries in this region. This factor inclines nations of this region to invest in strengthening their defense, which would raise the investments in robust ballistic missiles. China is the most prominent country in terms of defense budget. It spent around USD 230 billion on defense in 2022. Not only China, other countries including India, Japan, North Korea, etc., are also investing in defense and making ballistic missiles domestically rather than importing them. Therefore, due to the higher war situations, a higher investment in ballistic missiles has been noted in this region.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Lockheed Martin, Northrop Grumman, General Dynamics, Israel Aerospace Industries, Safran, Ariane Group, Naval Group, Rosoboronexport, China Aerospace Corporation, Bharat Dynamics Limited, Korean People’s Army (KPA), Korean Aerospace Industries, Bae Systems, Aerojet Rocketdyne, Raytheon Technologies, MBDA, Rostec, Thales Group, Hanwha Group, Roketsan Roket Sanayii ve Ticaret A.S, Others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the regions?
6. How have buying behavior, customer inclination, and expectations from products been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?