Zion Market Research Global Rockets and Missiles Market, 2016–2024 | Page 3

Rockets and Missiles Market
war situations. Rising demand for robust and technologically enhanced rockets and missiles
is propelling the global market. The global market for rockets and missiles is driven by
several factors; however, the market growth is hampered due to few factors such as soaring
cost of advanced technologies. The rockets and missiles manufacturers are continually
making efforts to upgrade missiles and rockets by incorporating various new technologies.
These new technologies are very expensive as compared with the old technologies. Owing
to this, the cost of the end product is increasing, further hampering the growth of the global
rockets and missiles market in developing countries.
Global Rockets and Missiles Market: Segmentation
The global rockets and missiles market is segmented on the basis of product type and
geography. Based on the product, the global market is segmented as rockets and missiles.
Further, the rocket segment is sub-segmented as air-to-ground rockets and artillery rockets.
The missiles segmented is further categorized as cruise missiles, anti-ship missiles,
surface-to-air missiles, anti-submarine missiles, and anti-tank missiles.
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Global Rockets and Missiles Market: Regional Analysis
Region-wise, the global rockets and missiles market is segmented as Europe, North
America, Asia Pacific, Latin America, and the Middle East and Africa. North America
dominates the global market mainly owing to advancements in the defense sector in this
region. This trend is followed by Asia Pacific and is anticipated to continue its dominance in
the near future.