The Global Rocket and Missile Market was valued at USD 62.50 billion in 2024 and is projected to grow from USD 66.83 billion in 2025 to USD 85.22 billion by 2029, at a CAGR of 6.4% during the forecast period. In terms of volume, the market will likely grow from 138,808 units in 2024 to 183,672 units by 2029. The growth is driven by increasing global defense expenditure, the development of advanced missile systems, and rising security concerns worldwide. Key technological innovations such as miniaturization of missile systems, rapid AI integration, and the advent of new-generation air and missile defense systems are expected to further propel market expansion.