Market Size of Americas Ballistic Missile Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 3.15 Billion |
| Market Size (2029) | USD 3.79 Billion |
| CAGR (2024 - 2029) | 3.70 % |
| Fastest Growing Market | Latin America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Americas Ballistic Missile Market Analysis
The Americas Ballistic Missile Market size is estimated at USD 3.15 billion in 2024, and is expected to reach USD 3.79 billion by 2029, growing at a CAGR of 3.70% during the forecast period (2024-2029).
- The focus of the United States drives America's ballistic missile market to enhance its defense capabilities against its rivals and ensure the same for its allies and North Atlantic Treaty Organization (NATO) member nations. This has driven the demand for ballistic missiles throughout the region while also encouraging significant investments in the R&D of new missile technologies to ensure tactical superiority.
- However, the growth of the market may be impeded by the macroeconomic factors affecting the region, as the capital-intensive nature of the market may also render the market players vulnerable to economic crises.
- Emerging technologies such as artificial intelligence (AI) -powered defense systems and 3D printing of entire weapon platforms are envisioned to have a profound effect on the current offerings of the market players and affect the market dynamics in the future.
- To enhance its military technologies, the US is investing heavily in the research and development of artificial intelligence (AI). The armed forces are integrating AI for ISR applications, command and control applications, enhancement of autonomy, and improvement of the lethality of weapon stations, among others. The US DoD (Department of Defense) has made investments in hypersonic missile technology and autonomy in military and military electronics, such as sensors, integrated circuits, electronic warfare (EW), and power electronics, among others.
- The military expenditure by various nations is expected to increase, which would result in a surge in investments for the development and procurement of ballistic missiles during the forecast period. The development of nuclear ballistic missiles by the major military superpowers is expected to generate a huge demand for ballistic missiles in the future.
