Missile Propulsion System Market Size, Share & Russia Ukraine War Impact Analysis, By Propulsion System (Solid Propulsion, Liquid Propulsion, Hybrid Propulsion, and Others), By Launch Type (Surface-to-Air, Air-to-Air, Surface-to-Surface, and Others), By Range (Short, Medium, Intermediate, and Intercontinental), By Missile Type (Ballistic Missile, Cruise Missiles, and Others), and Regional Forecast, 2024-2032

Missile propulsion system refers to the mechanism or technology used to generate the necessary thrust and propulsion for a missile. It is responsible for accelerating and propelling the missile through the air or space to reach its intended target. The propulsion system converts stored energy, typically in the form of fuel and oxidizer, into high-velocity exhaust gases that create the necessary thrust. These propulsion systems often incorporate additional components, such as igniters, valves, actuators, and control systems, to regulate and control the thrust, direction, and speed of the missile. The missile propulsion system market size is expected to display strong growth during the forecast period of 2024-2032.

The overall design and configuration of the missile propulsion system play a critical role in determining the missile's range, speed, maneuverability, and effectiveness in fulfilling its mission objectives.

The global missile propulsion system market is expected to grow significantly due to increasing demand for advanced missile systems by various countries for defense purposes. The growing need for enhanced precision, range, and maneuverability of missiles drives the development of innovative propulsion systems. Additionally, technological advancements play a significant role as a driver in this industry. Continuous research and development efforts aimed at improving propulsion system efficiency, reducing weight, and increasing overall performance contribute to the growth of the market.

Additionally, the integration of advanced materials and propulsion technologies, such as solid-state propulsion and miniaturized systems, further drive the market growth. Furthermore, increasing geopolitical tensions and conflicts around the world also expected to propels the market growth.

Stringent regulations and export controls imposed by governments to prevent the proliferation of missile technology can limit the market expansion. Additionally, high development and manufacturing costs associated with advanced propulsion systems pose a challenge to market growth, especially for emerging economies with limited defense budgets.

Russia Ukraine War Impact on Missile Propulsion System Industry

The Russia-Ukraine war has significantly impacted the global missile propulsion system industry. The conflict has spurred nations to strengthen their defense capabilities, leading to increased demand for advanced missile systems and propulsion technology. This has resulted in a shift in defense strategies and priorities, with a focus on enhancing missile range, accuracy, and effectiveness. However, the war has also introduced challenges such as disruptions in the global supply chain, affecting the availability of critical components. The competitive environment driven by the conflict has led to pricing pressures and market saturation. Additionally, concerns over technology proliferation and export controls have emerged. Overall, the industry faces opportunities for growth but must navigate these challenges to ensure its resilience and adaptability in the changing geopolitical landscape.

The missile propulsion system market, by propulsion system the market is segmented into solid propulsion, liquid propulsion, hybrid propulsion, and others. By launch type the market is bifurcated into surface-to-air, air-to-air, surface-to-surface, and others. By range the market is divided into short, medium, intermediate, and intercontinental. By missile type, the market is segregated into ballistic missiles, cruise missiles, and others.

Key Insights

The report will include the following key insights:

• The report analyzes a detailed industry overview, including qualitative and quantitative information.


• The report analyzes an overview and forecast of the missile propulsion system market based on various segments.


• The report also analyzes comprehensive PEST analysis for all five regions, i.e., North America, Europe, Asia Pacific, and Rest of the World, after evaluating economic, social, political, and technological factors affecting the impact of the cargo drones market in these regions.

Regional Analysis

The North American region currently dominates the missile propulsion system market and is expected to continue its dominance during the forecast period. This is primarily due to the highest military spending in the US. The country is robustly investing in procuring and developing new missile and missile defense systems. The United States is a major contributor to the market, strongly focusing on developing and deploying advanced missile propulsion system technologies. Europe has a significant presence in the market, with several countries investing in defense modernization and missile system upgrades.

The Asia Pacific region is witnessing substantial growth in the forecast period. Increasing defense budgets, geopolitical tensions, and the pursuit of advanced missile technologies contribute to the market's expansion. Countries such as China, India, and Japan are investing significantly in developing indigenous missile systems, creating opportunities for companies.

Key Players

• BAE Systems


• Bharat Dynamics


• Boeing


• Denel Dynamics


• Frontier Electronic Systems


• General Dynamics


• Israel Aerospace Industries


• Leonardo


• Lig Nex1


• Lockheed Martin


• Northrop Grumman Corporation


• Rafael Advanced Defense Systems


• Raytheon Technologies


• Thales Group


• The Boeing Company

Missile Propulsion System Market Segmentation

Recent Developments

• In March 2023, The U.S. Army’s Aviation and Missile Center has selected Lockheed Martin to develop an advanced propulsion Long Range Maneuverable Fires (LRMF) missile. The missile can be fired from existing Army launchers to defeat distant threats at ranges that significantly exceed those of the PrSM baseline.

• In January 2023, China’s Type 052D destroyer gets upgraded propulsion system. The Nanning, a destroyer independently developed by China, received an upgraded propulsion system among many other modifications,