According to recent market research, the size of the global rocket and missile market was worth USD 59.21 billion in 2021. The market is expected to expand, with a projected value of USD 61.96 billion in 2022 and a forecasted value of USD 84.77 billion by 2029. This represents a compound annual growth rate (CAGR) of 4.58% over the forecast period. Rockets and missiles are projectiles that are designed to be propelled through the air or space by means of an engine or other propulsion system. Rockets are typically used for space exploration, while missiles are designed for military purposes, such as targeting and destroying enemy aircraft, vehicles, or structures.

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