Kings Research today announced the release of its latest market intelligence study, “Global Missiles and Missile Defense Systems Market: Size, Share, Trends & Forecast 2024–2031.” The report offers a detailed assessment of market dynamics, technological innovations, deployment strategies, and regional developments. It also provides insights into leading manufacturers, segment performance, and growth opportunities for defense contractors, government agencies, and strategic investors worldwide.
The global market for missiles and missile defense systems was estimated by Kings Research to be worth USD 78.12 billion in 2023 and is expected to increase at a compound annual growth rate (CAGR) of 7.61% from 2024 to 2031, reaching USD 139.25 billion.
The upgrade of military arsenals, growing geopolitical tensions that demand sophisticated missile and defense technologies, and rising global defense spending are the main drivers of growth. Demand is also rising in North America, Europe, and the Asia-Pacific areas due to the development of multi-layered missile defense networks, hypersonic missiles, and precision-guided weapons.
Missiles and missile defense systems encompass a wide range of guided and unguided missiles, interceptor systems, and defense solutions designed for national security, tactical operations, and strategic deterrence.
Modern missile systems integrate cutting-edge guidance technologies, propulsion mechanisms, and warhead capabilities to ensure high accuracy, long-range targeting, and rapid response. Defense agencies and militaries are increasingly adopting integrated missile defense networks to counter emerging threats, safeguard assets, and maintain strategic deterrence.
Kings Research identifies several key trends shaping the missiles and missile defense systems market:
- Rising Defense Budgets
Increased military spending in North America, Europe, and Asia-Pacific is a major driver for missile and defense systems. Governments are investing heavily to modernize their arsenals, including interceptor missiles, tactical systems, and anti-ballistic solutions. In fiscal year 2025, the U.S. Department of Defense allocated $28.4 billion specifically to enhance missile-defense capabilities, aimed at protecting the homeland, deployed forces, and allied territories from growing missile threats posed by nations like China and Russia (Source: https://www.war.gov/). These investments also support research, development, and procurement of next-generation systems, ensuring long-term strategic advantages.
- Advancements in Missile Technology
Modern warfare is changing as a result of emerging missile technology, such as autonomous targeting systems, precision-guided missiles, and hypersonic weapons. Because they can go faster than Mach 5, hypersonic weapons improve striking capabilities and make interception very challenging. Higher accuracy and operational efficiency are also made possible by advancements in onboard sensors and guidance systems, which also lessen collateral damage and enable more accurate missions.
- Integration of Multi-Layered Defense Systems
Multi-layered missile defense, which combines radar networks, interceptor missiles, and command-control systems, is becoming a more important component of modern defense tactics. Real-time danger identification, tracking, and interception at various distances and altitudes are made possible by this method. To increase the chance of neutralization, layered systems, for example, can engage incoming missiles in both exo-atmospheric and endo-atmospheric phases. Investing in these integrated systems gives countries the ability to defend against more sophisticated aerial threats and guarantees improved situational awareness.
The Missiles and Missile Defense Systems Market offers major strategic prospects for government organizations, aerospace companies, and defense contractors:
- Improved National Security: Strategic deterrence and territorial protection are reinforced by sophisticated missile and defense systems.
- Technological Leadership: Investing in integrated defense, hypersonic, and precision-guided technologies gives you a competitive edge.
- Revenue Growth: Long-term market possibilities are guaranteed by growing defense budgets and procurement initiatives.
- Strategic Partnerships: Access to major contracts is made easier through alliances with governments, military organizations, and academic institutions.
- Innovation Differentiation: The creation of next-generation missile technology strengthens a company's standing in the marketplace and its position in the global economy.
Regional Outlook
- North America: North America leads the global market due to substantial defense spending by the U.S. Department of Defense, procurement of advanced missile systems, and adoption of integrated missile defense networks. Programs such as Aegis Ballistic Missile Defense, THAAD, and Patriot systems support sustained market growth.
- Asia Pacific: Asia Pacific is witnessing the fastest growth driven by military modernization programs, increased government budgets, and strategic defense initiatives in countries like India, China, Japan, and South Korea. Rising geopolitical tensions in the region are further accelerating the deployment of advanced missile and defense systems.
Competitive Landscape
The missiles and missile defense systems market is highly competitive, with leading players focusing on technological innovation, strategic partnerships, and defense contracts. Prominent companies include Lockheed Martin Corporation, RTX, Boeing, Northrop Grumman, BAE Systems, Thales, Israel Aerospace Industries (IAI), Kongsberg Defence & Aerospace, MetalTek, General Dynamics Mission Systems, Inc., MBDA Inc., Rheinmetall AG, Leonardo S.p.A., Saab AB, and Denel Dynamics.
These companies are investing in R&D for hypersonic missile technology, precision-guided munitions, interceptor systems, and integrated defense networks. Strategic collaborations with governments and international defense agencies are enabling wider adoption and deployment of cutting-edge missile solutions globally. Lockheed Martin, Northrop Grumman, and Boeing remain leaders in integrated defense and missile systems, while MBDA, Thales, and Rheinmetall focus on European and APAC markets.
The full Kings Research report provides detailed segmentation by product type, deployment, technology type, range, and geography, along with competitive benchmarking, regulatory insights, and innovation trends. To request a sample, access the full report, or explore consulting services, please visit https://www.kingsresearch.com/missiles-and-missile-defense-systems-market-530.
About Kings Research
Kings Research is a global provider of syndicated research reports and strategic consulting services, helping organizations navigate emerging markets, identify opportunities, and make informed decisions. By combining validated data with industry expertise, Kings Research enables businesses to drive innovation, growth, and sustainable competitive advantage.
All market data are sourced from Kings Research proprietary analysis, validated against credible government publications, defense agency reports, and corporate disclosures. Examples cited include the U.S. Department of Defense, Lockheed Martin Corporation, Boeing, Northrop Grumman, MBDA Inc., and Thales Group.