The global cruise missile market size reached USD 2.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 3.4 Billion by 2033, exhibiting a growth rate (CAGR) of 6.1% during 2025-2033.
Report Attribute
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Key Statistics
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---|---|
Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 2.0 Billion |
Market Forecast in 2033
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USD 3.4 Billion |
Market Growth Rate 2025-2033 | 6.1% |
Cruise missile refers to an unmanned, self-propelled and guided missile used for delivering targeted warheads with enhanced precision. It can self-navigate, fly on a non-ballistic and low-altitude trajectory and travel at supersonic and hypersonic speeds. Cruise missiles consist of a guidance, payload and aircraft propulsion system that is enclosed in an airframe and can be launched using land, sea and air-based platforms. They use various technologies, such as terrain mapping, global positioning systems (GPS), inertial guidance, motion sensors and gyroscopes to maintain a pre-programmed flight path. The missiles are also programmed for surface-to-surface, surface-to-air, air-to-air, air-to-surface and subsea to surface launch modes. They use solid, liquid, hybrid, ramjet, turbojet and scramjet propulsion systems.
The rising incidence of cross-border agitations and terrorist activities across the globe is one of the key factors driving the growth of the market. Cruise missiles are crucial for enforcing defense strategies and countering terrorist threats and political and territorial issues. Moreover, the integration of artificial intelligence (AI) technology in defense systems for enhanced situational awareness and target precision is providing a thrust to the market growth. Various technological advancements, such as the development of innovative hypersonic cruise missiles that can travel faster than the speed of sound, are acting as other growth-inducing factors. These missiles are highly powerful and can be used for delivering long-range strategic nuclear strikes. Novel variants are also resistant to electronic countermeasures and are equipped with angular thrusters to reposition the missile horizontally and maneuver against airstrikes. Other factors, including the rapid modernization of existing defense systems, along with the widespread adoption of 3D printed missile components and structures, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global cruise missile market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on launch platform, speed, range and application.
Breakup by Launch Platform:
Breakup by Speed:
Breakup by Range:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aerojet Rocketdyne Inc., Avibras Industria Aeroespacial SA, China Aerospace Science and Industry Corporation Limited, Defence Research and Development Organisation, Kongsberg Gruppen, Lockheed Martin Corporation, MBDA, Raytheon Technologies Corporation, Roketsan Roket Sanayii ve Ticaret AS and The Boeing Company.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Launch Platform, Speed, Range, Application, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | Aerojet Rocketdyne Inc., Avibras Industria Aeroespacial SA, China Aerospace Science and Industry Corporation Limited, Defence Research and Development Organisation, Kongsberg Gruppen, Lockheed Martin Corporation, MBDA, Raytheon Technologies Corporation, Roketsan Roket Sanayii ve Ticaret AS and The Boeing Company |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global cruise missile market was valued at USD 2.0 Billion in 2024.
We expect the global cruise missile market to exhibit a CAGR of 6.1% during 2025-2033.
The increasing incidence of cross-border agitations and terrorist activities, along with the rising integration of Artificial Intelligence (AI) technology in defense systems for enhanced situational awareness and target precision, is primarily driving the global cruise missile market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the decline of aviation activities, thereby negatively impacting the global market for cruise missiles.
Based on the launch platform, the global cruise missile market has been divided into air, surface combatants, land, and submarine. Among these, air currently exhibits a clear dominance in the market.
Based on the speed, the global cruise missile market can be categorized into subsonic, supersonic, and hypersonic. Currently, supersonic accounts for the majority of the global market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global cruise missile market include Aerojet Rocketdyne Inc., Avibras Industria Aeroespacial SA, China Aerospace Science and Industry Corporation Limited, Defence Research and Development Organisation, Kongsberg Gruppen, Lockheed Martin Corporation, MBDA, Raytheon Technologies Corporation, Roketsan Roket Sanayii ve Ticaret AS, and The Boeing Company.