Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Cruise Missiles Market, 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. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Cruise Missiles Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

  • Forecast Period: 2025-2030
  • Market Size in 2024: USD 2.3 billion
  • CAGR (2025-2030): 7%

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Global Cruise Missiles Market Segmentation Breakdown:

  • By Launch Type
    • Air – Market Size & Forecast 2020-2030, (USD Million)
    • Surface Combatants – Market Size & Forecast 2020-2030, (USD Million)
    • Submarine – Market Size & Forecast 2020-2030, (USD Million)
    • Land – Market Size & Forecast 2020-2030, (USD Million)
  • By Range
    • Short-Range Missiles – Market Size & Forecast 2020-2030, (USD Million)
    • Medium-Range Missiles – Market Size & Forecast 2020-2030, (USD Million)
    • Long-Range Missiles – Market Size & Forecast 2020-2030, (USD Million)

Long-range missiles dominate the Global Cruise Missile Market with roughly 45% market share. These systems are preferred because of their strategic significance in contemporary defense providing the ability to precisely strike valuable targets over great distances.

  • By Speed
    • Subsonic – Market Size & Forecast 2020-2030, (USD Million)
    • Supersonic – Market Size & Forecast 2020-2030, (USD Million)
    • Hypersonic – Market Size & Forecast 2020-2030, (USD Million)

Subsonic cruise missiles command a market share of roughly 50% worldwide because of their widespread deployment, cost-effectiveness, and demonstrated dependability.

Geographical Growth Insights:

  • By Region
    • North America
    • South America
    • Europe
    • The Middle East & Africa
    • Asia-Pacific

North America commands a 40% share of the Global Cruise Missile Market due to significant investments in advanced defense technologies and a robust military infrastructure.

MarkNtel Advisors Highlights Key Market Drivers for Cruise Missiles Market:

Increased Geopolitical Tensions Driving Demand for Advanced Missiles – These days’ countries around the globe are prioritizing their defense capabilities as geopolitical tensions are rising and this has been fueling the demand for sophisticated weapons such as cruise missiles. Precision strike systems are in huge demand due to ongoing conflicts and territorial disputes, especially in areas like the South China Sea, Eastern Europe, and the Middle East. For instance, the ongoing Russia-Ukraine conflict has highlighted the importance of cruise missiles strategically especially in contemporary warfare. Russia has deployed more than 11,466 missiles from September 2022 to 2024.

Moreover, the U.S. is also getting aligned with worldwide trends of warfare. The U.S. Department of Defense spent 2023, more than USD 142 billion on the procurement of advanced war weapons including sophisticated cruise missile systems. Given the fact that cruise missiles provide precision long-range capabilities and strategic deterrence, thus these developments demonstrate the effect of geopolitical instability that drives up investments in these weapons worldwide.

A Comprehensive Analysis of Leading Companies in Global Cruise Missiles Market

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

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Global Cruise Missiles Industry Recent Development:

  • October 2024: Lockheed Martin boosted production of JASSM and LRASM missiles with a new U.S. government contract, enhancing defense capabilities. The contract supports increased annual production through the Large Lot Procurement pilot program.
  • January 2024: Japan's Ministry of Defense (MoD) formally signed a contract worth about USD 1.7 billion with the U.S. Government to acquire up to 400 U.S.-made long-range Tomahawk cruise missiles from fiscal year 2025 to 2027.

What are the growth Opportunity driving the Global Cruise Missiles Market?

Retrofitting and Upgrading Legacy Missile Systems – The Global Cruise Missiles Market offers substantial opportunities for retrofitting and upgrading legacy missile systems as countries seek to modernize their current arsenals while minimizing expenses. Many nations keep sizable stockpiles of outdated missile systems that need to be upgraded to meet contemporary combat needs including the U.S., Russia, and India. For example, the U.S.A. modernized the Air Forces AGM-86 Air-Launched Cruise Missiles, replacing nearly every part including modifying the engine and updating sophisticated guidance systems.

With the help of retrofitting, military forces can improve missile performance by adding features like electronic counter-measures precision targeting, and enhanced propulsion without having to invest in completely new systems. For countries seeking to preserve technological parity, this strategy is an economical and environmentally responsible way to promote sustainability by reducing production waste. For instance,

  • Tomahawk Cruise Missiles, the Australian government invested over $1.3 billion to upgrade its Hobart Class destroyers with more than 200 Tomahawk cruise missiles. This retrofitting effort included integrating advanced navigation and propulsion systems to enhance the missiles' precision and range.

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Key Advantages of the Report by MarkNtel Advisors:

Accurate Revenue Projections: The report provides precise revenue estimates for the market and its key subsegments, benefiting both market leaders and new entrants.

Strategic Insights for Stakeholders: By understanding the competitive landscape, stakeholders can strategically position their businesses and develop effective go-to-market strategies.

Comprehensive Market Dynamics Analysis: The report offers valuable insights into the key drivers, restraints, challenges, and opportunities within the market, helping stakeholders make well-informed decisions.

Note: If you need additional information not included in the report, we can customize it to suit your requirements.

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About Us –

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

More Research Studies: 

  • The Global Cruise Missiles Marketsize was valued at around USD 126 million 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 (2025-30).
  • The Global Cruise Missiles Marketsize was valued at around USD 0.95 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 17% during the forecast period, i.e., 2025-30.
  • The Global Mushroom Market size was valued at around USD 64 billionin 2024 and is projected to reach USD 99 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.

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