Global Ballistic Missile Market is valued at approximately USD xxx billion in 2021 and is anticipated to grow with a healthy growth rate of more than xxx% over the forecast period 2022-2029. A ballistic missile is a type of missile that follows a ballistic trajectory, which means that it is propelled into the air by a rocket engine and then follows a predetermined path based solely on gravity and the missile’s initial velocity. The Ballistic Missile market is expanding because of factors such as the rising spending of nations on military equipment and growing international diplomatic conflicts.

Ballistic missiles can carry a variety of payloads, including nuclear, chemical, or conventional warheads, and they are primarily used for military purposes. Its prevalence has progressively increased during the last few decades. According to the Statista, in 2021 the United States ranked among highest military spending country with approx. USD 801 billion and having 38% of the total military spending share out of USD 2.1 trillion globally. Furthermore, as a share of gross domestic product , Saudi Arabia spent 6.6% on its military in 2021, followed by Russia with 4.5% and the USA with 3.5%. Another important component driving space growing international diplomatic conflicts. As per Statista, in 2021, there were 233 intrastate conflicts worldwide in total. Out of that number, 126 conflicts were classified as violent crises. In addition, According to the United Nations, at least 8,000 non-combatants have been confirmed killed with nearly 13,300 injured since the Russian invasion on February last year. In which men accounted for 61.1 % of confirmed civilian casualties and women 39.9%. At least 487 children were killed and 954 injured. Also, technological advancement in missile technology and rising government initiatives in defense sector would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Ballistic Missile stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Ballistic Missile Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key market players. According to Statista, in 2021, the United States spent approximately 44 billion U.S. dollars on nuclear weapons, the highest of any country in the world. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising cross-border conflicts within neighboring countries such as China, India and Pakistan and active participation of government organizations in the market space.

Major market player included in this report are:
BAE Systems PLC,
Thales Group,
Defence Research and Development Organisation
Advanced Defense Systems Ltd
Raytheon Technologies Corporation
Rockwell Collins,
Northrop Grumman Corporation,
Mbda Inc.
General Dynamic Corporation
Lockheed Martin Corporation

Recent Developments in the Market:
? In January 2023, Thales have signed a three-year maintenance contract with OCCAR on behalf of the French, Italian, and British warships, with an additional two-year extension. Thales demonstrates the dependability and endurance of its naval sensors such as the S1850M, as well as its commitment to assisting navies. The S1850M Long Range Air Surveillance Radar is a SMART L radar derivative.

Global Ballistic Missile Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Launch Mode, Range, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Launch Mode

By Range
Medium range
Intermediate range

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World