Global Cruise Missiles Market Overview: 2025-2030
Base Year: 2024
Historical Years: 2020-23
Forecast Years: 2025-2030
The Global Cruise Missiles Market size was valued at around USD 2.3 billion in 2024 and is projected to reach USD 3.4 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 7% during the forecast period, i.e., 2025-30.
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Global Cruise Missiles Market Dynamics: 2025-2030
Global Cruise Missiles Market Driver:
Increased Geopolitical Tensions Driving Demand for Advanced Missiles – These days’ countries around the globe are prioritizing their defense capabilities as geopolitical tensions are rising and this has been fueling the demand for sophisticated weapons such as cruise missiles. Precision strike systems are in huge demand due to ongoing conflicts and territorial disputes, especially in areas like the South China Sea, Eastern Europe, and the Middle East. For instance, the ongoing Russia-Ukraine conflict has highlighted the importance of cruise missiles strategically especially in contemporary warfare. Russia has deployed more than 11,466 missiles from September 2022 to 2024.
Moreover, the U.S. is also getting aligned with worldwide trends of warfare. The U.S. Department of Defense spent 2023, more than USD 142 billion on the procurement of advanced war weapons including sophisticated cruise missile systems. Given the fact that cruise missiles provide precision long-range capabilities and strategic deterrence, thus these developments demonstrate the effect of geopolitical instability that drives up investments in these weapons worldwide.
Global Cruise Missiles Market (2025-30): Segmentation Outlook
The market report has segmented the market into the following categories:
By Launch Type
-Air – Market Size & Forecast 2020-2030, (USD Million)
-Surface Combatants – Market Size & Forecast 2020-2030, (USD Million)
-Submarine – Market Size & Forecast 2020-2030, (USD Million)
-Land – Market Size & Forecast 2020-2030, (USD Million)
By Range
-Short-Range Missiles – Market Size & Forecast 2020-2030, (USD Million)
-Medium-Range Missiles – Market Size & Forecast 2020-2030, (USD Million)
-Long-Range Missiles – Market Size & Forecast 2020-2030, (USD Million)
Long-range missiles dominate the Global Cruise Missile Market with roughly 45% market share.
By Speed
-Subsonic – Market Size & Forecast 2020-2030, (USD Million)
-Supersonic – Market Size & Forecast 2020-2030, (USD Million)
-Hypersonic – Market Size & Forecast 2020-2030, (USD Million)
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
The Global Cruise Missiles Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2025–2030 at the global level. Based on the analysis, the market has been further classified as:
Based on Range:
- Short-Range Missiles
- Medium-Range Missiles
- Long-Range Missiles
Long-range missiles dominate the Global Cruise Missile Market with roughly 45% market share. These systems are preferred because of their strategic significance in contemporary defense providing the ability to precisely strike valuable targets over great distances. Missiles with a long range like; The Tomahawk of the Navy of the U.S. and the Kalibr of Russia have ranges of more than 1,500 kilometers allowing for cross-border operations without having to worry about immediate retaliation. They have been adopted primarily by major military powers due to the increased focus on power projection and deterrence. Additionally, long-range systems are essential to the development of hypersonic missiles a major area of interest for countries such as China and India. These features solidify long-range cruise missiles’ dominance in the market and make them essential in contemporary warfare.
Based on Speed:
- Subsonic
- Supersonic
- Hypersonic
Subsonic cruise missiles command a market share of roughly 50% worldwide because of their widespread deployment, cost-effectiveness, and demonstrated dependability. These missiles are valued for their accuracy, long range, and versatility across multiple platforms including air sea, and land. They usually operate at speeds lower than Mach 1 such as; the Tomahawk and the Kalibr, which have thousands of active units worldwide. Both established and developing militaries are drawn to subsonic missiles due to their affordability and adaptability. To strengthen its strategic arsenal, India prioritizes subsonic versions in its Nirbhay missile program. Because of their long-standing place in international defense plans, subsonic missiles continue to lead the market even though hypersonic and supersonic systems are becoming more popular.
North America commands a 40% share of the Global Cruise Missile Market due to significant investments in advanced defense technologies and a robust military infrastructure.
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Top Companies Operating in the Global Cruise Missiles Market:
Lockheed Martin Corporation, The Boeing Company, DRDO, Avibras Industria Aeroespacial S/A, MBDA Inc., RTX Corporation, Raytheon Technologies Corporation, Tactical Missiles Corporation, Kongsberg Gruppen ASA, Roketsan Roket Sanayii ve Ticaret AS, Bharat Dynamics Limited, China Aerospace Science and Technology Corporation, Aerojet Rocketdyne Inc., NORINCO, Denel Dynamics, and Others.
Industry Recent Development:
- October 2024: Lockheed Martin boosted production of JASSM and LRASM missiles with a new U.S. government contract, enhancing defense capabilities. The contract supports increased annual production through the Large Lot Procurement pilot program.
- January 2024: Japan’s Ministry of Defense (MoD) formally signed a contract worth about USD 1.7 billion with the U.S. Government to acquire up to 400 U.S.-made long-range Tomahawk cruise missiles from fiscal year 2025 to 2027.
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