Nuclear Missiles And Bombs Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 92.21 Billion |
| Market Size (2029) | USD 117.44 Billion |
| CAGR (2024 - 2029) | 4.96 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Nuclear Missiles And Bombs Market Analysis
The Nuclear Missiles And Bombs Market size is estimated at USD 92.21 billion in 2024, and is expected to reach USD 117.44 billion by 2029, growing at a CAGR of 4.96% during the forecast period (2024-2029).
The increasing military expenditure and the rising threats for various nations due to border security issues and the growing terrorism, along with the advancements in hypersonic missile technologies are the major factors anticipated to drive the growth of the market. Companies have adopted collaboration, long-term agreements, joint ventures, and associations with the Atlantic Council, Brookings Institution, and Carnegie Endowment for International Peace as their key development strategies in the nuclear bombs and missiles market. However, the treaty on the prohibition of nuclear arms, which is intended to prohibit the use of nuclear weapons, may restrain the market growth during the forecast period.
Nuclear Missiles And Bombs Market Trends
Nuclear Missiles to Dominate Market Share During the Forecast Period
The nuclear missiles segment is expected to lead the market share owing to the advantages of missiles over bombs and rising defense expenditures. According to the Stockholm International Peace Research Institute (SIPRI), the global military expenditure in 2022 was USD 2,240 billion, which was 3.7% higher than the global military expenditure in 2021. The growth in defense budgets will support the nations to enhance their combat capabilities and help them execute their defense strategies as planned.
Nuclear missiles have a wide range of operations, ranging up to thousands of miles, which is not the case with gravity bombs. Also, nuclear missiles can be operated remotely so that the person launching the weapon does not have any physical or radiational effect following the blast. This may not be the case with gravity-dropped bombs, in which the pilot will be in near vicinity to the bomb. Suppose the gravity bombs are dropped utilizing a UAV. In that case, it must be survivable enough to penetrate modern air defenses and drop nuclear gravity bombs on the enemy territory, which is something only a few aircraft are currently capable of. Due to such advantages, the development and procurement of the nuclear missiles segment are currently high.
North America is Expected to Witness Highest Growth
North America is expected to lead the market growth during the forecast period owing to the increase in budget allocation for nuclear weapons programs in the US. The Congressional Budget Office (CBO) estimated in May 2021 that the US will spend a total of USD 634 billion over the next 10 years to sustain and modernize its nuclear arsenal, which is 28 percent higher than the previous 10-year projection released in 2019.
Also, the US stockpile of nuclear warheads and bombs is continually refurbished through NNSA’s Life Extension Program (LEP). Existing warheads are certified annually to be safe and reliable. The NNSA is currently pursuing a controversial and expensive plan to refurbish or replace nearly every warhead type in the stockpile.
As of 2021, American nuclear forces on land consist of 400 Minuteman III ICBMs spread among 450 operational launchers staffed by Air Force Global Strike Command. Those in the seas consist of 14 nuclear-capable Ohio-class Trident submarines, nine in the Pacific and five in the Atlantic. Nuclear capabilities in the air are provided by 60 nuclear-capable heavy bombers, 20 B-2 bombers, and 40 B-52s.
Nuclear Missiles And Bombs Industry Overview
The nuclear missiles and bombs market is semi-consolidated, with a handful of players owning the market share. MBDA, RTX Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, and THALES are some of the prominent players in the market. Players in the market are focusing on developing advanced missiles with higher speeds and lethality, which will help them gain new contracts with the militaries. As such, the focus on developing hypersonic nuclear-capable missiles that can penetrate advanced air defense systems has increased, with the major defense contractors currently working towards developing such technologies. Partnerships among players will facilitate technology transfer, thereby helping the growth of the players during the forecast period.
Nuclear Missiles And Bombs Market Leaders
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MBDA
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Lockheed Martin Corporation
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THALES
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RTX Corporation
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Northrop Grumman Corporation
*Disclaimer: Major Players sorted in no particular order
Nuclear Missiles And Bombs Market News
- October 2023: The US DoD awarded a contract worth approximately USD 1 billion to Lockheed Martin Corporation to conduct engineering, manufacturing, and design work to provide a “low technical risk and affordable” RV for the Mk21A program, which will fit a new RV to the US’ Sentinel nuclear missile system.
- November 2022: The US Navy awarded Lockheed Martin Corporation a contract worth USD 581.2 million for supplying additional UGM-133A Trident II Submarine-launched nuclear ballistic missiles. The contract also involved a foreign military sale to the United Kingdom. It is expected to be completed by September 2027.
Nuclear Missiles And BombsMarket Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Nuclear Missiles
5.1.2 Gravity Bombs
5.2 Missile Range
5.2.1 Less than 1000km
5.2.2 1000km - 5000km
5.2.3 Greater than 5000km
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 MBDA
6.2.2 RTX Corporation
6.2.3 Lockheed Martin Corporation
6.2.4 Northrop Grumman Corporation
6.2.5 THALES
6.2.6 The Boeing Company
6.2.7 Rafael Advanced Defense Systems Ltd.
6.2.8 Tactical Missiles Corporation
6.2.9 BAE Systems plc
6.2.10 Safran SA
6.2.11 Aerojet Rocketdyne
6.2.12 General Dynamics Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Nuclear Missiles And Bombs Industry Segmentation
Nuclear missiles and bombs are nuclear weapons that are designed to release energy explosively as a result of nuclear fission, nuclear fusion, or a combination of the two processes. Nuclear warheads can be delivered by means of either nuclear missiles or can be dropped by gravity in the form of bombs.
The nuclear missiles and bombs market is segmented by type, missile range, and geography. By type, the market is segmented by nuclear missiles and nuclear bombs. By missile range, the market is segmented into less than 1000km, 1000km - 5000km, and greater than 5000km. The report also covers the sizes and forecasts for the market across different regions.
For each segment, the market sizing and forecasts have been provided in value (USD).
| Type | |
| Nuclear Missiles | |
| Gravity Bombs |
| Missile Range | |
| Less than 1000km | |
| 1000km - 5000km | |
| Greater than 5000km |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Rest of the World |
Nuclear Missiles And BombsMarket Research FAQs
How big is the Nuclear Missiles And Bombs Market?
The Nuclear Missiles And Bombs Market size is expected to reach USD 92.21 billion in 2024 and grow at a CAGR of 4.96% to reach USD 117.44 billion by 2029.
What is the current Nuclear Missiles And Bombs Market size?
In 2024, the Nuclear Missiles And Bombs Market size is expected to reach USD 92.21 billion.
Who are the key players in Nuclear Missiles And Bombs Market?
MBDA, Lockheed Martin Corporation, THALES, RTX Corporation and Northrop Grumman Corporation are the major companies operating in the Nuclear Missiles And Bombs Market.
Which is the fastest growing region in Nuclear Missiles And Bombs Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Nuclear Missiles And Bombs Market?
In 2024, the North America accounts for the largest market share in Nuclear Missiles And Bombs Market.
What years does this Nuclear Missiles And Bombs Market cover, and what was the market size in 2023?
In 2023, the Nuclear Missiles And Bombs Market size was estimated at USD 87.64 billion. The report covers the Nuclear Missiles And Bombs Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Nuclear Missiles And Bombs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Nuclear Missiles And BombsIndustry Report
Statistics for the 2024 Nuclear Missiles And Bombs market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nuclear Missiles And Bombs analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
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