Global Solid Rocket Motors Market Size Study, by Platform (Space Launch Vehicles, Missiles), by End-use (Government and Defense, Commercial), and Regional Forecasts 2022-2032

Description

The global solid rocket motors market was valued at approximately USD 6.28 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.1% over the forecast period 2024-2032. Solid rocket motors, a key propulsion technology in aerospace and defense, offer unique advantages in simplicity, reliability, and high thrust capabilities. Unlike liquid rocket engines, solid rocket motors are pre-loaded with a propellant that burns completely within the motor, providing operational efficiency and low maintenance.

The growing focus on defense modernization, space exploration, and satellite deployment is fueling demand for solid rocket motors globally. Governments and private organizations are investing significantly in missile defense systems, strategic deterrence programs, and reusable space technologies. The rise in geopolitical tensions is further amplifying the need for advanced ballistic and tactical missile systems, which rely heavily on solid rocket motors for their rapid deployability and long shelf life.

The expanding applications of solid rocket motors in satellite launch vehicles, particularly for small satellite constellations supporting IoT and 5G applications, are contributing significantly to market growth. Additionally, the rise in reusable launch vehicles and green propulsion technologies is expected to open new opportunities in the market.

North America currently leads the market, supported by advanced aerospace and defense infrastructure, high government spending, and a strong ecosystem of established players and start-ups. Meanwhile, the Asia-Pacific region is anticipated to exhibit the fastest growth, driven by rising investments in space programs, defense modernization, and regional security initiatives.

Key market players are actively engaging in innovation, mergers, and strategic collaborations to enhance their product offerings and capture untapped opportunities in emerging markets.

Major Market Players Included in This Report Are:

Northrop Grumman (US)
Nammo AS (Norway)
L3Harris Technologies Inc. (US)
China Aerospace Science and Technology Corporation (China)
IHI Corporation (Japan)
Rafael Advanced Defense Systems Ltd. (France)
Kratos Defense & Security Solutions (US)
Anduril Industries (US)
United Launch Alliance (US)

The Detailed Segments and Sub-Segments of the Market are Explained Below:

By Platform:

Space Launch Vehicles
Missiles
- Ballistic Missiles
- Tactical Missiles

By End-use:

Government and Defense
Commercial

By Region:

North America
- U.S.
- Canada
- Mexico
Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
Latin America
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa

Years Considered for the Study Are as Follows:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024-2032

Key Takeaways:

Comprehensive market estimates and forecasts for 10 years from 2022 to 2032.
Regional and segmental revenue analysis for enhanced market understanding.
Insights into competitive strategies and major players in the industry.
Country-level analysis of significant regions and their growth potential.
Detailed examination of market dynamics, including drivers, challenges, and opportunities.

Chapter 1. Global Solid Rocket Motors Market Executive Summary

1.1. Global Solid Rocket Motors Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Platform
- 1.3.2. By End-use
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Solid Rocket Motors Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Solid Rocket Motors Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Demand for Solid Rocket Motors in Defense Sector
- 3.1.2. Rising Satellite Deployment and Space Exploration Activities
- 3.1.3. Long Shelf Life and Low Maintenance Benefits
3.2. Market Challenges
- 3.2.1. Supply Chain Management Issues
- 3.2.2. High Initial Costs of Development
3.3. Market Opportunities
- 3.3.1. Adoption of Green Propulsion Technologies
- 3.3.2. Expanding Commercial Space Ventures
- 3.3.3. Rising Investments in Hypersonic Missile Development

Chapter 4. Global Solid Rocket Motors Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economic
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Solid Rocket Motors Market Size & Forecasts by Platform (2022-2032)

5.1. Segment Dashboard
5.2. Global Solid Rocket Motors Market: Platform Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Space Launch Vehicles
- 5.2.2. Missiles
  - 5.2.2.1. Ballistic Missiles
  - 5.2.2.2. Tactical Missiles

Chapter 6. Global Solid Rocket Motors Market Size & Forecasts by End-use (2022-2032)

6.1. Segment Dashboard
6.2. Global Solid Rocket Motors Market: End-use Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Government and Defense
- 6.2.2. Commercial

Chapter 7. Global Solid Rocket Motors Market Size & Forecasts by Region (2022-2032)

7.1. North America Solid Rocket Motors Market
- 7.1.1. U.S. Solid Rocket Motors Market
- 7.1.2. Canada Solid Rocket Motors Market
- 7.1.3. Mexico Solid Rocket Motors Market
7.2. Europe Solid Rocket Motors Market
- 7.2.1. UK Solid Rocket Motors Market
- 7.2.2. Germany Solid Rocket Motors Market
- 7.2.3. France Solid Rocket Motors Market
- 7.2.4. Italy Solid Rocket Motors Market
- 7.2.5. Spain Solid Rocket Motors Market
- 7.2.6. Rest of Europe Solid Rocket Motors Market
7.3. Asia-Pacific Solid Rocket Motors Market
- 7.3.1. China Solid Rocket Motors Market
- 7.3.2. Japan Solid Rocket Motors Market
- 7.3.3. India Solid Rocket Motors Market
- 7.3.4. South Korea Solid Rocket Motors Market
- 7.3.5. Australia Solid Rocket Motors Market
- 7.3.6. Rest of Asia-Pacific Solid Rocket Motors Market
7.4. Latin America Solid Rocket Motors Market
- 7.4.1. Brazil Solid Rocket Motors Market
- 7.4.2. Argentina Solid Rocket Motors Market
- 7.4.3. Rest of Latin America Solid Rocket Motors Market
7.5. Middle East & Africa Solid Rocket Motors Market
- 7.5.1. Saudi Arabia Solid Rocket Motors Market
- 7.5.2. UAE Solid Rocket Motors Market
- 7.5.3. South Africa Solid Rocket Motors Market
- 7.5.4. Rest of Middle East & Africa Solid Rocket Motors Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. Northrop Grumman
- 8.1.2. Nammo AS
- 8.1.3. L3Harris Technologies Inc.
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Northrop Grumman
- 8.3.2. Nammo AS
- 8.3.3. L3Harris Technologies Inc.
- 8.3.4. China Aerospace Science and Technology Corporation
- 8.3.5. IHI Corporation

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes