Chicago, IL -- (SBWIRE) -- 07/11/2017 -- The rockets and missiles are mainly used for destroying the helicopters, tanks, submarine, artilleries, aircrafts, incoming rockets or missiles, ships, and armored vehicles. Rockets are self-propelled munitions and unguided powered by rocket motors or jet engines while the missiles are self-propelled weapons and guided mainly used for air to surface combat, surface to air combat and air to air combat. The major trend for rockets and missiles market to surge is the growing defense budget every year in the developing countries. Across the globe, the defense forces are continuously equipping their relevant troops with the advanced as well as enhanced rockets and missiles for strengthening their air force, armed forces, and naval force. Thus, the growing demand for strengthening of defense forces global is fueling the market for rockets and missiles.

The report tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the rocket and missile market. The scope of this report covers the rocket and missile market by its major segments, which include the types, applications, and the major geographic regions.

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Regionally, the global market for rockets and missiles is segmented into Europe, North America, Asia-Pacific, Middle East & Africa and Latin America. Among these, the US is anticipated to dominate the global market for rockets and missiles over the forecast period. The rapid growth in this region is due to growing R&D activities undertaken for advanced technological design development of man portable warfare systems. In the coming years, the growth of rocket and missile market in China is anticipated to be very high. The reason behind this growth is that China has been heavily investing heavily in development and design of portable air defense systems. Several developing countries such as India and China, among other regions are investing heavily in ballistic missiles. Also, these countries are investing for doing advancement in technologies and focus on wide range production of offensive fighting vehicles.

KEY PREMIUM INDUSTRY INSIGHTS

The global market for rockets and missiles is driven by so many factors but high cost of advanced technologies is a major challenge. Manufacturers of rocket and missiles are continuously focusing on improving it by integrating different advanced technologies.

As these technologies are so costly as compared to traditional technologies so the price of final product is increasing which is limiting the adoption of these latest technologies in developing countries. As the manufacturing organizations are developing and designing so this market has budding opportunities to grow in the coming years.

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