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Pulished Date August, 2021
ID: 12032
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Cruise Missile Market by Launch Platform (Air, Surface Combatants, Land and Submarine), Range (Short-range Missiles, Medium-range Missiles, and Long-range Missiles), Application (Attack and Defensive) and Speed (Subsonic, Supersonic, and Hypersonic) - Global Industry Analysis on Size, Share, Trends, Opportunities, Growth & Forecast Report | 2021 – 2026

Pulished: August, 2021
ID: 12032
Pages: 175

Cruise Missile Market Trends and Forecast 2026:

The size and share of the Cruise Missile Market are expected to grow at a decent figure during the forecast period 2021 to 2026, with an increase in its CAGR of 13.3%.

An uncrewed rocket vehicle is referred to as a missile. It's made up of a guidance system and an explosive substance. A ground-based communication center guides a rocket.

A Cruise Missile is used in the military to protect from terrestrial targets. The central portion of the flight path will remain in the atmosphere at a constant speed. The purpose of designing Cruise Missiles is to deliver a large warhead over long distances with high quality.

Development in advanced technology, cruise missiles is capable of traveling at supersonic speeds. Moreover, these missiles can do self-navigation and can fly on a non-ballistic, low-attitude trajectory. Therefore, the central theme of cruise missiles is to attack prominent targets like ships, command bunkers, dams & bridges. 

Key Trends in the Cruise Missile Market: 

There is a massive demand for cruise missiles due to heavy usage in military and defense in all countries over the globe. Governments are also taking the initiations over the armies and allotting more funds to provide advanced machines and equipment to save their nations. Moreover, the political threats with terrorists in borders of countries are estimated to arrange particular budgets from the government. Furthermore, the growing of threats and anti-security activities will push the market to grow faster.

One major factor hampering the cruise missile market is the high cost involved in the production of missiles. In addition, increased complexity and more maintenance are pulling back the growth of the market.

Development of advanced technologies through Missile Technology Control Regime (MTCR) membership with more effective methods. In addition, various countries are showing interest in exporting short-range missiles, and the Invention of hybrid fuel-powered missiles are growing opportunities in the cruise missile market.

Integration of missiles is the major challenge influencing the market. It is more compliable to integrate all the assembling parts and handle them with care without product failure.




Market Size Available

2021 – 2026

Base Year


Forecast Period

2021 - 2026



Segments Covered

By Launch Platform,  By Range, Cruise Missile Market - By Speed, By Application, By Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Lockheed Martin Corporation, Morgan Advanced Material PLC, Raytheon Company, DuPont, The Boeing Company, Aerojet Rocketdyne, Roketsan A.S., MBDA, Ceradyne Inc.,Tactical Missiles Corporation.

Market Segmentation of Cruise Missile Market with evaluated insights until 2026:

Cruise Missile Market - By Launch Platform:

  • Air
  • Surface Combatants
  • Land
  • Submarine

The launch platform's global Cruise Missile market is segmented into air, surface combatants, land, submarine. Among this segmentation, air-launched cruise missiles were dominating the market.

Cruise Missile Market – By Range:

  • Short-range Missiles
  • Medium-range Missiles
  • Long-range Missiles

Cruise Missile Market - By Speed:

  • Subsonic
  • Supersonic
  • Hypersonic

Based on speed, the Supersonic segment is holding the largest market share. A supersonic missile relies mainly on sheer speed and inbuilt electronic countermeasures to breach the air defense network of hostile enemy forces. United States, China, Russia, the United Kingdom, France, and India, can produce supersonic cruise missiles. For example, Russia is now developing the 9M730 Burevestnik, also known as the SSC-X-9 Skyfall, to deliver long-range strategic nuclear strikes.

Cruise Missile Market - By Application:

  • Attack
  • Defensive

Cruise Missile Market - By Region:

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

North America is projected to have the largest market share over the projection period, with the highest CAGR among all the regions. In terms of geography, the area also had the largest market share in 2019. The primary cause for the region's supremacy is the rise of the U.S. cruise missile business.

The current U.S. president recommended a national security budget of USD 740.5 billion for F.Y. 2021 in February 2020, with USD 705.4 billion allocated to the Department of Defense (DoD). The base procurement budget for F.Y. 2021 is USD 131.75 billion, with USD 21.3 billion given to munitions purchase for the Air Force, Navy, and Army. Harpoon, AMRAAM, JASSM/JASSM ER, Harpoon, and Tomahawk are commonly used cruise missiles by the U.S. Air Force and Navy.

Furthermore, the most excellent RDT&E budget of USD 106.6 billion was sought as part of the new military budget to invest in developing critical emerging technologies such as hypersonic, autonomy, and artificial intelligence (A.I.), among others. Thanks to such significant investments in advanced technology, the country intends to develop and deploy upgraded missiles in the coming years.

For example, the government declared in February 2020 that in F.Y. 2022, it would establish a program to develop a new nuclear-armed, submarine-launched cruise missile with a separate budget. In addition, the Nuclear Posture Review (in 2018) focused on developing two new nuclear capabilities.

The missile's development is expected to be completed within the next decade, according to the government. The U.S. Navy aims to induct 20 guided-missile frigates (FFGs) as part of the FFG(X) program over the next decade. In addition, the U.S. Air Force made an order for 78 new F-35 fighter aircraft in April 2020. The market for cruise missiles is expected to rise due to such purchases of the sea and air platforms.

Market Major Key Players:

Some of the significant key players listed in the report are

  • Lockheed Martin Corporation
  • Morgan Advanced Material PLC
  • Raytheon Company
  • DuPont
  • The Boeing Company
  • Aerojet Rocketdyne
  • Roketsan A.S.
  • MBDA
  • Ceradyne Inc. 
  • Tactical Missiles Corporation

COVID Analysis on Cruise Missile Market:

Due to COVID-19, many industries are gone to downfall in sales, production, and other reasons. Regarding the cruise missile market, it directly affected production and demand due to a decrease in the workforce. The Production raw materials used for manufacturing the missiles were not available.

Many leading companies in the missile industry are struggling in creating supply chain and disruption in the market due to facing problems in transportation and shortage of workforce.

In addition, the global economy is affecting the industry by the financial impact on firms and financial markets. Due to the pandemic, some companies are continuing where some are shuttered. Key companies dominating the market are also suffering because manufacturing jobs are onsite, and there is no chance to work from another place.

1. Introduction                                                                                 

                1.1 Market Definition                                                                    

                1.2 Scope of the report                                                                

                1.3 Study Assumptions                                                                 

                1.4 Base Currency, Base Year and Forecast Periods                                                                          

2. Research Methodology                                                                                           

                2.1 Analysis Design                                                                         

                2.2 Research Phases                                                                      

                                2.2.1 Secondary Research                                                           

                                2.2.2 Primary Research                                                 

                                2.2.3 Data Modelling                                                      

                                2.2.4 Expert Validation                                                  

                2.3 Study Timeline                                                                          

3. Report Overview                                                                                        

                3.1 Executive Summary                                                                

                3.2 Key Inferencees                                                                       

4. Market Dynamics                                                                                       

                4.1 Impact Analysis                                                                         

                                4.1.1 Drivers                                                      

                                4.1.2 Restaints                                                  

                                4.1.3 Opportunities                                                        

                4.2 Regulatory Environment                                                                       

                4.3 Technology Timeline & Recent Trends                                                                            

5. Competitor Benchmarking Analysis                                                                                    

                5.1 Key Player Benchmarking                                                                     

                                5.1.1 Market share analysis                                                        

                                5.1.2 Products/Service                                                  

                                5.1.3 Regional Presence                                                               

                5.2 Mergers & Acquistion Landscape                                                                      

                5.3 Joint Ventures & Collaborations                                                                        

6. Market Segmentation                                                                                              

                6.1 Cruise Missile Market , By Launch Platform                                                                  

                                6.1.1 Air                                                               

                                6.1.2 Surface Combatants                                                           

                                6.1.3 Land                                                           

                                6.1.4 Submarine                                                              

                                6.1.5 Market Size Estimations & Forecasts (2021-2026)                                                   

                                6.1.6 Y-o-Y Growth Rate Analysis                                                             

                                6.1.7 Market Attractiveness Index                                                          

                6.2 Cruise Missile Market , By Range                                                                      

                                6.2.1 Short-range Missiles                                                           

                                6.2.2 Medium-range Missiles                                                     

                                6.2.3 Long-range Missiles                                                            

                                6.2.4 Market Size Estimations & Forecasts (2021-2026)                                                   

                                6.2.5 Y-o-Y Growth Rate Analysis                                                             

                                6.2.6 Market Attractiveness Index                                                          

                6.3 Cruise Missile Market , By Application                                                                            

                                6.3.1 Attack                                                       

                                6.3.2 Defensive                                                

                                6.3.3 Market Size Estimations & Forecasts (2021-2026)                                                   

                                6.3.4 Y-o-Y Growth Rate Analysis                                                             

                                6.3.5 Market Attractiveness Index                                                          

                6.4 Cruise Missile Market , By Speed                                                                      

                                6.4.1 Subsonic                                                  

                                6.4.2 Supersonic                                                              

                                6.4.3 Hypersonic                                                              

                                6.4.4 Market Size Estimations & Forecasts (2021-2026)                                                   

                                6.4.5 Y-o-Y Growth Rate Analysis                                                             

                                6.4.6 Market Attractiveness Index                                                          

7. Geographical Landscape                                                                                         

                7.1 Global Identity Governance and Administration Market, by Region                                                                  

                7.2 North America - Market Analysis (2021 - 2026)                                                                            

                                7.2.1 By Country                                                              



                                7.2.2 By Launch Platform                                                             

                                7.2.3 By Range                                                  

                                7.2.4 By Application                                                        

                                7.2.5 By Speed                                                 

                7.3 Europe                                                                         

                                7.3.1 By Country                                                              






                                       Rest of Europe                                   

                                7.3.2 By Launch Platform                                                             

                                7.3.3 By Range                                                  

                                7.3.4 By Application                                                        

                                7.3.5 By Speed                                                 

                7.4 Asia Pacific                                                                  

                                7.4.1 By Country                                                              




                                       South Korea                                        

                                       South East Asia                                  

                                       Australia & NZ                                    

                                       Rest of Asia-Pacific     

        7.4.2 By Launch Platform                                                             

                                7.4.3 By Range                                                  

                                7.4.4 By Application                                                        

                                7.4.5 By Speed                                                 

                7.5 Latin America                                                                             

                                7.5.1 By Country                                                              




                                       Rest of Latin America  

                  7.5.2 By Launch Platform                                                             

                                7.5.3 By Range                                                  

                                7.5.4 By Application                                                        

                                7.5.5 By Speed                                                 

                7.6 Middle East and Africa                                                                           

                                7.6.1 By Country                                                              

                                       Middle East                                         


                                7.6.2 By Launch Platform                                                             

                                7.6.3 By Range                                                  

                                7.6.4 By Application                                                        

                                7.6.5 By Speed                                                 

8. Key Player Analysis                                                                                    

                8.1 Lockheed Martin Corporation                                                                            

                                8.1.1 Business Description                                                           

                                8.1.2 Products/Service                                                  

                                8.1.3 Financials                                                 

                                8.1.4 SWOT Analysis                                                       

                                8.1.5 Recent Developments                                                       

                                8.1.6 Analyst Overview                                                 

                8.2 Morgan Advanced Material PLC                                                                        

                8.3 Raytheon Company                                                                

                8.4 DuPont                                                                         

                8.5 The Boeing Company                                                                             

                8.6 Aerojet Rocketdyne                                                                               

                8.7 Roketsan A.S.                                                                            

                8.8 MBDA                                                                           

                8.9 Ceradyne Inc                                                                             

                "8.10 Tactical Missiles Corporation                                           

9. Market Outlook & Investment Opportunities                                                                                


                List of Tables                                                                     

                List of Figures                                                                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and also identify the regions that are still untapped
  • The segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis, and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies, and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Cruise Missile Market By Region, From 2021-2026 ( USD Billion )
  2. Global Cruise Missile Market By Launch Platform , From 2021-2026 ( USD Billion )
  3. Global Air Market By Region, From 2021-2026 ( USD Billion )
  4. Global Surface Combatants Market By Region, From 2021-2026 ( USD Billion )
  5. Global Land Market By Region, From 2021-2026 ( USD Billion )
  6. Global Submarine Market By Region, From 2021-2026 ( USD Billion )
  7. Global Cruise Missile Market By Range, From 2021-2026 ( USD Billion )
  8. Global Short-range Missiles Market By Region, From 2021-2026 ( USD Billion )
  9. Global Medium-range Missiles Market By Region, From 2021-2026 ( USD Billion )
  10. Global Long-range Missiles Market By Region, From 2021-2026 ( USD Billion )
  11. Global Cruise Missile Market By Application, From 2021-2026 ( USD Billion )
  12. Global Attack Market By Region, From 2021-2026 ( USD Billion )
  13. Global Defensive Market By Region, From 2021-2026 ( USD Billion )
  14. Global Cruise Missile Market By Speed, From 2021-2026 ( USD Billion )
  15. Global Subsonic Market By Region, From 2021-2026 ( USD Billion )
  16. Global Supersonic Market By Region, From 2021-2026 ( USD Billion )
  17. Global Hypersonic Market By Region, From 2021-2026 ( USD Billion )

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