Cruise Missiles Market Trends, Innovation, Size, and Key Player: RTX Corporation, Raytheon Technologies Corporation

Executive Summery

This report presents a detailed overview of the Cruise Missiles Market, highlighting key insights into its market size, share, and growth during the forecast period, i.e., 2025-2030. It explores emerging trends, competitive dynamics, and the core drivers reshaping the industry. Backed by solid data and expert analysis, the study offers segment-wise insights and reliable forecasts to guide strategic decisions. With comprehensive market analysis and forward-looking perspectives, this report serves as a practical tool for stakeholders navigating change. Whether you're an investor, policymaker, or business leader, this research helps you stay ahead in the fast-evolving Cruise Missiles industry landscape.

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Cruise Missiles Market Statistics and Key Highlights

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.

Cruise Missiles market shows steady growth
Market size expanding due to rising industry demand
Competitive landscape driven by tech and innovation
Detailed segment-wise and geography wise share analysis
Forecast reveals strong trends shaping future outlook

Key Player- Emerging Cruise Missiles Companies

Lockheed Martin Corporation
The Boeing Company
DRDO
Avibras Indstria 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
Other

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Key Driver:

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.

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Cruise Missiles Market Segmentation

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.

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)

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.

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