Solid Rocket Motors Market Trends, Growth, Revenue, Share, CAGR Status and Future Outlook
Solid Rocket Motors Market Growth, Size, Trends Analysis - By Platform, By End User, By Component - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jan-2025 | Report ID: AERO2502 | Pages: 1 - 263 | Formats*: |
| Category : Aerospace and Defence | |||
Solid Rocket Motors Market Introduction and Overview
According to SPER Market Research, the Global Solid Rocket Motors Market is estimated to reach USD 14.94 billion by 2034 with a CAGR of 8.35%.
The report includes an in-depth analysis of the Global Solid Rocket Motors Market, including market size and trends, product mix, Applications, and supplier analysis. These motors are used in aerospace and defense due to their simplicity, reliability, and high thrust output. They burn pre-loaded solid propellant and are ideal for missions requiring fast deployment and low maintenance. Solid rocket motors are widely used in missile systems for their excellent performance and quick thrust. Solid rocket motors are crucial for launching satellites and other payloads into orbit. They effectively help satellites overcome Earth's gravity and reach space. Both commercial and government space programs rely on solid rocket motors for their simplicity and efficiency.
By Platform Insights: The Space Launch Vehicles segment is expected to grow the fastest in the Solid Rocket market due to the increasing need for reliable propulsion systems in space missions. A rise in satellite launches, commercial space exploration, and national space programs has led to significant investments in advanced technology for solid rocket motors. Countries like Japan, South Korea, and Israel are leading this development due to their strong aerospace capabilities. Moreover, there is a growing demand for miniaturized satellites and microsatellites, driven by the needs of IoT and communications in Low Earth Orbit (LEO). This trend will likely increase the demand for efficient and reliable launch vehicles, driving the need for solid rocket motors, which are favored for their ease of integration and high thrust-to-weight ratios.
By End User Insights: The Government and Defense sector is expected to hold the largest share. These sectors drive the market due to their reliance on solid rocket motors for national security and space exploration. Solid rocket motors are used in various defense areas, including ballistic missiles, tactical weapons, missile defense systems, and space launch vehicles. Their reliability, long-term storage capabilities, and quick deployability make them important. Increasing global geopolitical tensions are prompting countries to invest in modernizing missile arsenals, which depend on solid rocket motors for high-performance applications.
By Regional Insights: Asia Pacific is expected to grow the most in the coming years because countries in the region are investing more in space exploration, defense upgrades, and missile programs. New players like Australia and Indonesia are joining, while China, India, and Japan continue their efforts. To compete, these nations need advanced solid rocket motor technology. Government support, increased R&D funding, and partnerships with global aerospace leaders are boosting Asia Pacific's skills in solid rocket motors. This shows the region's rising importance in space and defense efforts.
Market Competitive Landscape
The Global Solid Rocket Motors Market is extremely competitive, with several prominent businesses producing and supplying solid rocket motors for a variety of applications, including aerospace, defense, and space exploration. The market is driven by developments in rocket propulsion technology, increased defense budgets, and expanding space exploration activities. Northrop Grumman Innovation Systems is a prominent player in the solid rocket motor market, providing a diverse range of products for a variety of applications such as defense, space, and commercial. China Aerospace Science and Technology Corporation (CASC): CASC, a significant Chinese state-owned aerospace and defense producer, manufactures a diverse range of solid rocket motors for a variety of applications, including missiles, launch vehicles, and spacecraft.
Recent Developments:
- In June 2024, Anduril Industries received its first Pentagon contract to create and test second-stage rocket motors for the US Navy’s Standard Missile-6 (SM-6), an important defense system against various threats. The contract is projected to be worth USD 19 million.
- Nammo and Raytheon joined together in August 2024 to expand solid rocket motor manufacturing in Florida. The goal of the expansion, which should be operational by 2027, is to increase domestic manufacturing of defense systems for the US and allied defense systems.
- Xbow received contracts totaling USD 7.3 million in June 2024 to create solid rocket motors for the US Navy's Standard missile program. For Mk 72 booster motors, the initial deal was worth USD 3.3 million. USD 4 million was the value of the second contract for Mk 104 second-stage motors.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Platform, By End User, By Component. |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa. |
| Companies Covered | Northrop Grumman, Nammo AS, L3Harris Technologies Inc, China Aerospace Science and Technology corporation, IHI Corporation, Rafael Advanced Defense Systems Ltd, Kratos Defense & Security Solutions, Anduril Industries, United Launch Alliance, Mitsubishi Heavy Industries Ltd. |
Key Topics Covered in the Report:
- Global Solid Rocket Motors Market Size (FY’2021-FY’2034)
- Overview of Global Solid Rocket Motors Market
- Segmentation of Global Solid Rocket Motors Market By Platform (Missiles, Rocket Artillery, Space Launch Vehicles)
- Segmentation of Global Solid Rocket Motors Market By End User (Government & Defense, Commercial)
- Segmentation of Global Solid Rocket Motors Market By Component (Propellants, Nozzle, Igniter, Motor Casing)
- Statistical Snap of Global Solid Rocket Motors Market
- Expansion Analysis of Global Solid Rocket Motors Market
- Problems and Obstacles in Global Solid Rocket Motors Market
- Competitive Landscape in the Global Solid Rocket Motors Market
- Details on Current Investment in Global Solid Rocket Motors Market
- Competitive Analysis of Global Solid Rocket Motors Market
- Prominent Players in the Global Solid Rocket Motors Market
- SWOT Analysis of Global Solid Rocket Motors Market
- Global Solid Rocket Motors Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Solid Rocket Motors Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Solid Rocket Motors Market
7. Global Solid Rocket Motors Market, By Platform (USD Million) 2021-2034
7.1. Missiles7.2. Rocket Artillery7.3. Space Launch Vehicles
8. Global Solid Rocket Motors Market, By End User (USD Million) 2021-2034
8.1. Government & Defense8.2. Commercial
9. Global Solid Rocket Motors Market, By Component (USD Million) 2021-2034
9.1. Propellants9.2. Nozzle9.3. Igniter9.4. Motor Casing
10. Global Solid Rocket Motors Market (USD Million) 2021-2034
10.1. Global Solid Rocket Motors Market Size and Market Share
11. Global Solid Rocket Motors Market, By Region (USD Million) 2021-2034
11.1. Asia-Pacific
11.1.1. Australia11.1.2. China11.1.3. India11.1.4. Japan11.1.5. South Korea11.1.6. Rest of Asia-Pacific
11.2. Europe
11.2.1. France11.2.2. Germany11.2.3. Italy11.2.4. Spain11.2.5. United Kingdom11.2.6. Rest of Europe
11.3. Middle East and Africa
11.3.1. Kingdom of Saudi Arabia11.3.2. United Arab Emirates11.3.3. Qatar11.3.4. South Africa11.3.5. Egypt11.3.6. Morocco11.3.7. Nigeria11.3.8. Rest of Middle-East and Africa
11.4. North America
11.4.1. Canada11.4.2. Mexico11.4.3. United States
11.5. Latin America
11.5.1. Argentina11.5.2. Brazil11.5.3. Rest of Latin America
12. Company Profile
12.1. Northrop Grumman
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Nammo AS
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. L3Harris Technologies Inc
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. China Aerospace Science and Technology corporation
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. IHI Corporation
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. Rafael Advanced Defense Systems Ltd
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. Kratos Defense & Security Solutions
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. Anduril Industries
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. United Launch Alliance
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. Mitsubishi Heavy Industries Ltd
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Solid Rocket Motors Market is projected to reach USD 14.94 billion by 2034, growing at a CAGR of 8.35% during the forecast period.
Solid Rocket Motors Market grew in Market size from 2025. The Market is expected to reach USD 14.94 billion by 2034, at a CAGR of 8.35% during the forecast period.
Solid Rocket Motors Market CAGR of 8.35% during the forecast period.
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Solid Rocket Motors Market size is USD 14.94 billion from 2025 to 2034.
Solid Rocket Motors Market is covered By Platform, By End User, By Component.
The North America is anticipated to have the highest Market share in the Solid Rocket Motors Market.
The key players in the Market include Companies Covered Northrop Grumman, Nammo AS, L3Harris Technologies Inc, China Aerospace Science and Technology corporation, IHI Corporation, Rafael Advanced Defense Systems Ltd, Kratos Defense & Security Solutions, Anduril Industries, United Launch Alliance, Mitsubishi Heavy Industries Ltd.
These motors are used in aerospace and defense due to their simplicity, reliability, and high thrust output. They burn pre-loaded solid propellant and are ideal for missions requiring fast deployment and low maintenance. Solid rocket motors are widely used in missile systems for their excellent performance and quick thrust.
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