Rockets and Missiles Market is Going to Boom | Global Development Trends, SWOT Analysis, Impact of Economic and Policy Aspects 2022-2030
The Global Rockets and Missiles Market was valued at USD 58.3 Bn in 2021. The market is projected to grow USD 84.8 Bn in 2028, at a CAGR of 5.7%. The increased defense expenditure of emerging economies such as China and India is likely to drive the market for rockets and missiles. Furthermore, the market is expected to grow due to the changing nature of military technologies around the world. The development of superior autonomous missile technologies is one of the market's emerging opportunities. Terrorist attacks are becoming more common, as are territorial issues that lead to confrontations with neighboring countries. This has resulted in close quarter fighting scenarios. The electronics put into conventional missiles and rockets can now be tracked with ease thanks to enhanced detecting techniques. As a result, countries must constantly improve their technologies, making it impossible to discern between them during a fight. Governments of other emerging countries, such as India