Global Cruise Missile Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

Recent Developments:

• In November 2022, the Indian Army conducted a successful test of the BrahMos supersonic cruise missile from the Andaman and Nicobar (A&N) Islands. The Western Command of the Army specifically tested the extended-range version of the missile. According to statements from the Indian army, the BrahMos cruise missile demonstrated its capability to strike targets with a range exceeding 450 km. This test underscores India's ongoing efforts to bolster its defense capabilities and enhance its deterrence posture in the region.
• In August 2022, Russia unveiled a new cruise missile during the Army-2022 military exhibition held near Moscow. Presented by the Tactical Missiles Corporation, the missile, codenamed as the Kh-69 stealth missile, was showcased to military officials and defense enthusiasts. The Kh-69 missile has been specifically designed to engage stationary targets with precise accuracy, leveraging advanced guidance systems and information about the surrounding environment near the target area. This unveiling highlights Russia's commitment to advancing its military technology and maintaining its position as a leading player in the global arms market.

The Global Cruise Missile Market is segmented based on various factors including type, range, platform, and region. In terms of type, cruise missiles are categorized into subsonic and supersonic variants, each designed for specific mission requirements and operational environments. Subsonic cruise missiles typically offer longer loiter times and enhanced stealth characteristics, making them well-suited for covert operations and precision strikes against ground targets. On the other hand, supersonic cruise missiles provide higher speeds and shorter time-to-target capabilities, enabling rapid response and engagement of time-sensitive targets. Moreover, the market is segmented based on range, with cruise missiles ranging from short-range tactical missiles to long-range strategic missiles capable of striking targets at intercontinental distances. This segmentation allows defense planners and military operators to select cruise missiles tailored to specific operational scenarios and mission objectives.

The Global Cruise Missile Market is segmented based on platform, with missiles designed for deployment on various platforms including land-based launchers, naval vessels, submarines, and airborne platforms such as fighter jets and unmanned aerial vehicles (UAVs). Land-based cruise missiles offer strategic flexibility and can be deployed in fixed or mobile launchers to support both offensive and defensive operations. Naval cruise missiles are integrated into surface ships and submarines, providing maritime forces with long-range precision strike capabilities against surface and land targets. Additionally, air-launched cruise missiles are carried by aircraft and UAVs, extending the reach and operational flexibility of aerial platforms in conducting precision strikes deep behind enemy lines. This segmentation reflects the diverse range of platforms and operational scenarios in which cruise missiles are employed, highlighting the market's versatility and adaptability to evolving defense requirements.

Global Cruise Missile Segment Analysis

In this report, the global cruise missile market has been segmented by Launch Platform, Range and Geography.

Global Cruise Missile Market, Segmentation by Launch Platform

The Global Cruise Missile Market has been segmented by Launch Platform into Air, Sea and Land.

Air-launched cruise missiles represent a crucial segment of the market, deployed on various airborne platforms such as fighter jets, bombers, and unmanned aerial vehicles (UAVs). These missiles provide aerial platforms with long-range precision strike capabilities, enabling them to engage ground targets with minimal risk to the launching aircraft. Air-launched cruise missiles offer flexibility and versatility in conducting offensive operations, supporting both strategic and tactical missions across diverse theaters of operation.

Sea-launched cruise missiles form another significant segment within the Global Cruise Missile Market, integrated into surface ships, submarines, and naval vessels. Naval platforms equipped with cruise missiles extend the reach and firepower of maritime forces, enabling them to engage targets at long ranges with precision and lethality. Sea-launched cruise missiles provide naval commanders with a potent tool for conducting anti-ship warfare, land-attack missions, and strategic deterrence, enhancing the operational capabilities and effectiveness of maritime operations.

The land-launched cruise missile segment comprises missiles deployed on ground-based launchers, including fixed installations and mobile platforms. Land-based cruise missiles offer strategic flexibility and can be deployed in forward operating bases, border regions, and strategic locations to support defensive and offensive operations. These missiles provide ground forces with long-range precision strike capabilities, enabling them to engage enemy targets deep within enemy territory while minimizing exposure to hostile threats. Land-launched cruise missiles play a critical role in supporting ground operations, strategic deterrence, and homeland defense, contributing to the overall effectiveness and readiness of land-based military forces.

Global Cruise Missile Market, Segmentation by Range

The Global Cruise Missile Market has been segmented by Range into Short-range Missiles, Medium-range Missiles and Long-range Missiles.

Short-range missiles, medium-range missiles, and long-range missiles. Short-range cruise missiles typically have a range of up to 500 kilometers (approximately 310 miles) and are designed for tactical and close-range engagements. These missiles are commonly employed for precision strikes against targets located within relatively short distances from the launch platform, such as enemy installations, fortified positions, and infrastructure facilities. Short-range cruise missiles offer rapid response capabilities and are often utilized in scenarios where speed and precision are paramount, such as in support of ground operations or for countering imminent threats.

Medium-range cruise missiles occupy an intermediate position in the Global Cruise Missile Market, typically featuring ranges between 500 and 1,500 kilometers (approximately 310 to 930 miles). Medium-range missiles offer a balance between operational flexibility and range, allowing for precision strikes against targets located at intermediate distances. These missiles are well-suited for a variety of missions, including strategic strikes against enemy assets deep within hostile territory, as well as for conducting standoff attacks against heavily defended targets. Medium-range cruise missiles play a crucial role in modern military operations, providing commanders with the ability to project power and achieve strategic objectives with precision and minimal risk to friendly forces.

Long-range cruise missiles represent the pinnacle of precision strike capabilities in the Global Cruise Missile Market, boasting ranges exceeding 1,500 kilometers (approximately 930 miles). These missiles are designed for conducting precision strikes against high-value targets located at extended distances from the launch platform, including strategic installations, command centers, and critical infrastructure. Long-range cruise missiles offer the ability to penetrate deep into enemy territory while avoiding detection and interception, making them indispensable assets for power projection and strategic deterrence. With advancements in propulsion, guidance, and stealth technologies, long-range cruise missiles continue to evolve, providing military forces with unmatched precision strike capabilities to address emerging threats and challenges in modern warfare scenarios.

Global Cruise Missile Market, Segmentation by Geography

In this report, the Global Cruise Missile Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Cruise Missile Market Share (%), by Geographical Region, 2023

North America holds a dominant position in the Global Cruise Missile Market, driven by substantial defense spending, technological advancements, and a robust industrial base. The region is home to leading cruise missile manufacturers, including Lockheed Martin, Raytheon Technologies, and Northrop Grumman, who supply advanced missile systems to the United States Armed Forces and allied nations. Furthermore, North America benefits from strategic partnerships and defense cooperation agreements with key allies, facilitating joint development and procurement initiatives for cruise missiles. The region's focus on maintaining military superiority and addressing emerging threats, such as peer adversaries and asymmetric warfare, drives investments in cruise missile research, development, and procurement programs.

In Europe, the Global Cruise Missile Market experiences steady growth, fueled by defense modernization efforts, regional security challenges, and the need to bolster deterrence capabilities. European nations, including the United Kingdom, France, and Germany, invest in cruise missile technologies to enhance their military capabilities and contribute to NATO's collective defense initiatives. European defense contractors, such as MBDA and Saab, play a vital role in supplying cruise missiles to domestic and international customers, catering to diverse mission requirements across land, sea, and air domains. Additionally, the European defense industry collaborates on multinational projects, such as the MBDA Storm Shadow and Taurus KEPD 350, to develop next-generation cruise missiles capable of delivering precision strikes against high-value targets.

This report provides an in depth analysis of various factors that impact the dynamics of Global Cruise Missile Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers

• Geopolitical Tensions
• Precision Strike Capabilities
• Technological Advancements

• Naval Modernization : Naval modernization stands as a significant driver propelling the growth of the Global Cruise Missile Market. As maritime forces worldwide prioritize the enhancement of naval capabilities, there is an increasing demand for advanced cruise missiles tailored for deployment on surface ships and submarines. Naval modernization initiatives involve the acquisition of state-of-the-art vessels equipped with advanced weapon systems, including cruise missiles, to strengthen maritime security, assert territorial sovereignty, and deter potential adversaries. Cruise missiles play a pivotal role in naval warfare by providing long-range precision strike capabilities against surface targets, land-based assets, and naval vessels, thereby extending the reach and lethality of naval forces across vast oceanic expanses.

  The proliferation of advanced naval platforms equipped with integrated missile systems drives investments in the development and procurement of next-generation cruise missiles. Modern naval vessels, such as destroyers, frigates, and submarines, are equipped with vertical launch systems (VLS) and canister launchers capable of launching a variety of cruise missile variants. These advanced missile launch platforms enable naval forces to deploy cruise missiles in diverse operational scenarios, including littoral operations, anti-access/area denial (A2/AD) environments, and expeditionary warfare missions. Moreover, advancements in missile guidance, navigation, and propulsion technologies enhance the effectiveness and precision of cruise missiles, enabling naval forces to conduct strategic strikes with minimal risk to friendly forces and collateral damage, thereby reinforcing the importance of naval modernization as a key driver of the Global Cruise Missile Market.

Restraints

• Stringent Export Controls
• High Development and Production Costs
• Countermeasures and Defense Systems

• International Arms Control Agreements: International arms control agreements pose significant restraints on the Global Cruise Missile Market, limiting the proliferation and deployment of cruise missile systems among signatory nations. Treaties such as the Missile Technology Control Regime (MTCR) and the Strategic Arms Reduction Treaty (START) aim to prevent the spread of weapons of mass destruction (WMDs) and curb the development of long-range ballistic and cruise missile technologies. These agreements impose restrictions on the transfer, export, and development of cruise missiles with certain payload capacities and ranges, hindering the market's growth potential. Compliance with international arms control agreements requires manufacturers and exporters to navigate complex regulatory frameworks and obtain export licenses, adding administrative burdens and delays to international trade in cruise missile systems.

  International arms control agreements contribute to a fragmented regulatory environment, with varying interpretations and implementations across different countries and regions. Discrepancies in the interpretation of treaty obligations and compliance requirements may result in inconsistencies in export control policies and practices, leading to uncertainty and ambiguity for cruise missile manufacturers and exporters. Moreover, the evolving geopolitical landscape and changing security dynamics may prompt revisions to existing arms control agreements or the imposition of new restrictions, further complicating market dynamics and limiting the market's growth potential. As a result, cruise missile manufacturers must carefully navigate international arms control regimes while balancing the need to meet defense requirements and sustain business operations in an increasingly regulated environment.

Opportunities

• Enhanced Air Defense Capabilities
• Standoff Strike Capabilities
• Integration with Network-Centric Warfare

• Counter-Drone Operations: The proliferation of unmanned aerial vehicles (UAVs) and drones across military and civilian domains has presented a pressing need for effective counter-drone solutions, thereby creating a significant opportunity for the Global Cruise Missile Market. Cruise missiles, renowned for their precision strike capabilities and long-range engagement capabilities, are well-suited for countering hostile drones threatening critical assets and infrastructure. By equipping cruise missiles with advanced sensors, seekers, and target recognition algorithms, manufacturers can develop specialized variants tailored for counter-drone operations. These cruise missiles can autonomously detect, track, and engage hostile drones with high accuracy, thereby neutralizing potential threats and mitigating security risks in sensitive airspace environments.

  The integration of cruise missiles into existing air defense systems and network-centric warfare architectures enhances the effectiveness of counter-drone operations. Cruise missiles equipped with network-enabled capabilities can seamlessly collaborate with other military assets, including radars, command and control centers, and electronic warfare systems, to detect and neutralize drone threats in real-time. Additionally, the deployment of cruise missiles for counter-drone operations provides military forces with a proactive and preemptive approach to safeguarding critical assets, installations, and personnel from the growing menace of unmanned aerial threats. As the demand for robust counter-drone capabilities continues to escalate, the Global Cruise Missile Market stands poised to capitalize on this opportunity by offering innovative solutions tailored to the evolving needs of defense and security organizations worldwide.

Key players in Global Cruise Missile Market include:

• Lockheed Martin Corporation
• Raytheon Technologies Corporation
• DRDO
• The Boeing Company
• MBDA Inc.
• Tactical Missiles Corporation
• Kongsberg Gruppen
• Roketsan
• Avibras Indstria Aeroespacial S/A
• China Aerospace Science and Technology Corporation
• Aerojet Rocketdyne Inc.

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis