Global Cruise Missiles Market Projected to Reach USD 3.4 Billion by 2030, Fueled by Strategic

The global cruise missiles market is witnessing lucrative growth, significantly driven by growing defense budgets and military modernization initiatives. In addition to this, the China, India, and the United States have all raised their defense budgets dramatically, ultimately augmenting the exponential growth of the Global Cruise Missiles Market.

Global Cruise Missiles Market Overview 2025-30

According to the latest report published by Markntel Advisors, 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.

The market is witnessing a fundamental transition from legacy systems to next-generation cruise missiles featuring advanced propulsion technologies, multi-mode seekers, and enhanced electronic warfare resistance, reflecting the changing nature of modern conflicts and operational requirements.

Key Takeaways from Market Study

• Hypersonic cruise missile development programs experiencing accelerated funding with substantial budget
• AI-enabled autonomous target recognition systems emerging as critical differentiators in next-generation platforms
• Anti-ship cruise missiles with extended ranges witnessing highest procurement growth among naval forces
• Dual-capable conventional/nuclear cruise missile systems under development by multiple nations
• Low-observable cruise missile technology commanding premium pricing as air defense systems advance

Segmentation Analysis Based on Launch Type, Range, Speed and Region

The industry is further bifurcated into:

By Launch Type:

• Air,
• Surface Combatants,
• Submarine,
• Land

By Range:

• Short-Range Missiles,
• Medium-Range Missiles,
• Long-Range Missiles

By Speed:

• Subsonic,
• Supersonic,
• Hypersonic

By Region:

• North America
• South America
• Europe
• Asia-Pacific
• The Middle East and Africa

Cruise Missiles Leading Players Innovating for Multi-Domain Applications

The key players essentially operating are:

• 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

Cruise Missile Market Development: Regional Procurement Trends

While North America maintains the largest market share due to sustained defense modernization programs, the Asia-Pacific region is demonstrating the fastest growth trajectory, driven by naval expansion initiatives and regional security dynamics. European nations are increasingly pursuing collaborative development programs to distribute costs while maintaining technological sovereignty.

Middle Eastern countries continue to be significant importers of cruise missile systems, with growing emphasis on establishing domestic production capabilities through technology transfer arrangements.

Future Outlook: Convergence of Autonomy and Human Control

The cruise missiles market is increasingly focused on achieving an optimal balance between autonomous operation capabilities and appropriate human oversight, particularly for systems operating in contested electromagnetic environments where communications may be degraded or denied.

With the growing trends the industry is projected to grow and expand during the forecasting years i.e., 2025-30 as the above-stated factors are changing the market landscape and opening doors to the market players. Market players can enhance their market size & revenue by meeting the changing market dynamics and evolving consumer expectations. Additionally, market players with the help of SWOT analysis can adjust their existing settings regarding the evolving market trends, which would ultimately augment the size & volume of the entire industry at the Global level.

About Us –

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

Media Contact:

Company Name: MarkNtel Advisors

Email: sales@marknteladvisors.com

Website: www.marknteladvisors.com/

Corporate Office: Office No.109, H-159, Sector 63, Noida, Uttar Pradesh - 201301, India

Explore the Kuwait White Goods Market report by MarkNtel Advisors, projecting a Cagr of 9.66% from 2023 to 2028. Discover insights on market size, trends, and growth.