Cruise Missile Market size is expected to grow at a CAGR of 10% from 2024 to 2023, reaching nearly USD 5.26 Bn. By 2023.

(EMAILWIRE.COM, July 19, 2024 ) North America, particularly the United States, holds a dominant position in the global cruise missile market due to several key factors. The U.S. leads with the largest military budget worldwide, investing heavily in the development, production, and stockpiling of advanced cruise missiles.

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The robust industrial base, featuring established defence contractors such as Raytheon Technologies and Lockheed Martin, contributes significantly to market dominance with their expertise and resources. The U.S. is also at the forefront of developing hypersonic cruise missiles, ensuring it remains ahead in missile technology.

A cruise missile is an unmanned, self-propelled guided vehicle designed to fly using aerodynamic lift and deliver a payload to a specific target.

Cruise Missile Market Segmentation

By Launch Platform:

Air

Surface Combatants

Submarine

Land

By Range:

Short Range Missiles

Medium Range Missiles

Long Range Missiles

By Speed:

Subsonic

Supersonic

Hypersonic

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Cruise Missile Market’s Key Players include

Lockheed Martin Corporation

Raytheon Technologies Corporation

DRDO

The Boeing Company

MBDA Inc.

Tactical Missiles Corporation

Kongsberg Gruppen

Roketsan

Avibras Indstria Aeroespacial S/A

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