Cruise Missiles Market Overview: 2025-30
Base Year: 2024
Historical Years: 2020-23
Forecast Years: 2025-30
The 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. Growing defense budgets and military modernization initiatives drive significant growth in the cruise missiles global market. China, India, and the United States have all raised their defense budgets dramatically. The Financial Year 2025 Defense Appropriations Act allocates USD 851.7 billion to address global threats, support service members, and strengthen the defense industrial base in the United States. The increase in funding is a result of the increased need for long-range precision strike capabilities which are crucial for contemporary combat.
Markntel Advisor’s Cruise Missiles Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Cruise Missiles Market drivers, barriers, Cruise Missiles Market Trends, and Key Players in Cruise Missiles Market.
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Cruise Missiles Market Dynamics: 2025-30
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 (2025-30): Segmentation Outlook
The market report has segmented the market into the following categories:
- 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)
- 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
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Top Companies Operating in the Cruise Missiles Market:
- 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
- Others
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