Press Release

Global Cruise Missiles Market to Reach USD3.4 Billion by 2030 Due to Increased Geopolitical Tensions

The Global Cruise Missiles Market size was valued at around USD 2.3 billion in 2024 and is projected to reach USD 3.4 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 7% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. The Global Cruise Missiles Market is expanding significantly due to rising defense budgets and military modernization programs. Budgets for defense have increased notably in the U.S., China, and India. The need for long-range precision strike capabilities which are essential for modern warfare has led to an increase in funding. The need for advanced weapons like cruise missiles. The market is also being driven by rising geopolitical tensions as nations prioritize improving their defense capabilities. Particularly in regions like the Middle East, the South China Sea, and Eastern Europe, the continuous conflicts and territorial disputes have raised the demand for precision strike systems.

Additionally, by creating hypersonic Missile systems like China's DF-17 and Russia's 3M22 Zircon both countries have positioned themselves as leaders in next-generation warfare technology. Due to their increased speed and ability to survive in contested environments stealth and hypersonic technologies are becoming increasingly important.

Additionally, the expansion of the global defense markets is being driven by the Middle East and Asia-Pacific. Concerns about regional security are driving the region's growth, particularly in countries like Saudi Arabia and Japan that are heavily investing in missile technologies to bolster their strategic defense capabilities. Another significant trend is the use of modular missile systems which provide versatility for multi-mission operations. These systems increase military flexibility in a variety of combat scenarios by allowing them to alter guidance systems and payloads.

Moreover, public-private partnerships are causing a significant shift in the cruise missile industry. Collaborations between the private sector and the defense industry are accelerating development and fostering innovation. Because nations strive for technological superiority, the market for cruise missiles is evolving ensuring that it will remain an essential part of modern military strategy, further states the research report, “Global Cruise Missiles Market Analysis, 2025”.

Global Cruise Missiles Market Segmentation Analysis

High Demand for Long-Range Missiles Driving Market Growth

Based on range, the market is further bifurcated into Short-Range Missiles, Medium-Range Missiles, and Long-Range Missiles. In the Global Cruise Missiles Market, long-range missiles are the leading segment accounting for nearly 45% of the entire market. This dominance in the market is due to its strategic significance in contemporary defense which enables it to precisely strike valuable targets over a longer distance. The Tomahawk of the Navy of the U.S. and the Kalibr of Russia have been adopted due to the increased focus on power projection and deterrence by major military powers.

Moreover, in countries like India and China, these long-range systems are a major area of interest as they are essential to the development of hypersonic missiles. Hence all these combined factors make long-range missiles essential in contemporary warfare and amplify their dominance in the global market.

North America Dominates the Global Cruise Missiles Market

Geographically, North America accounts for 40% market share, dominating the Global Cruise Missiles Market because of the large investment in the strong military infrastructure and defense technologies. The United States is the major country contributing to the region's growth by providing significant sums of money for modernization initiatives and cruise Missiles development. The robust research and development capabilities and the government-private defense contractor partnerships like Raytheon Technologies and Lockheed Martin further boost the North American Cruise Missiles Market.

In addition, the widespread deployment across a range of platforms including aerial and naval units also propel the market demand for these Missiles in the region. Additionally, the Navy's reliance on Tomahawk Missiles and Canada's growing emphasis on updating its missile defense systems also contributed to North America's dominance in the Global Cruise Missiles Market.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Lockheed Martin Corporation, The Boeing Company, DRDO, Avibras Industria Aeroespacial S/A, MBDA Inc., RTX Corporation, Raytheon Technologies Corporation, Tactical Missiles Corporation, Kongsberg Gruppen ASA, Roketsan Roket Sanayii ve Ticaret AS, Bharat Dynamics Limited, China Aerospace Science and Technology Corporation, Aerojet Rocketdyne Inc., NORINCO, Denel Dynamics, and 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 various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers 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?