PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1720039
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1720039
Solid Rocket Motors Market size was valued at US$ 6,820.32 Million in 2024, expanding at a CAGR of 8.20% from 2025 to 2032.
Solid rocket motors are used in aerospace and defence applications, delivering high thrust and reliability. They contain a preloaded propellant that burns entirely within the motor, ensuring a more straightforward design and operation. These characteristics make solid rocket motors ideal for missions requiring rapid deployment and minimal maintenance. Their ability to perform reliably under extreme conditions makes them essential for missiles used in strategic deterrence, air defence, and tactical operations. Solid rocket motors are integral to launch vehicles in the space sector, providing the initial thrust needed to propel payloads beyond Earth's atmosphere efficiently. With advancements in reusable space technologies, their role continues to evolve.
Solid Rocket Motors Market- Market Dynamics
The increasing reliance on defence systems on their stability, safety, and high energy density propel market demand
The solid rocket motor market is expanding due to the increasing reliance of defence systems on their stability, safety, and high energy density. Their capability to deliver high thrust in diverse operational conditions makes them essential for critical missile defence programs such as THAAD and GMLRS. Another key driver of market growth is the long shelf life of solid rocket motors, allowing them to be stored for extended periods without significant degradation. This approach enables swift deployment, aligning with contemporary defence priorities for rapid-response systems. The National Defense Industrial Strategy highlights the need to strengthen solid rocket motor production to address geopolitical concerns, especially in the Indo-Pacific region. To support this goal, funding between USD 5-75 million over five years is directed toward developing domestic prototype production lines and creating a scalable, competitive supply chain, driving further market growth.
Solid Rocket Motors Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.20% over the forecast period (2025-2032)
Based on product type segmentation, space launch was predicted to show maximum market share in the year 2024
Based on end user segmentation, government and defence was the leading application in 2024
On the basis of region, North America was the leading revenue generator in 2024
The Global Solid Rocket Motors Market is segmented on the basis of Product Type, Component, End User, and Region.
The market is divided into three categories based on product type: Missiles, Rocket Artillery, and Space Launch Vehicles. The space launch vehicle segment is expected to hold the largest share of the solid rocket motor market, driven by expanding applications in satellite deployment, deep space exploration, and commercial space ventures. Solid rocket motors are integral to launch vehicles. They serve as boosters or first-stage propulsion systems due to their ability to provide high thrust with simplicity and reliability in extreme conditions. The rising demand for telecommunications, internet services, and Earth observation is accelerating launch requirements. Companies such as SpaceX, Rocket Lab, ISRO (India), and CNSA (China) conduct frequent launches; many rely on solid rocket motors for small- to medium-payload missions due to their cost efficiency. Additionally, the rapid expansion of small satellite constellations for IoT and 5G applications further drives market demand.
The market is divided into two categories based on end users: Government & Defense and Commercial Operators. The government and defence sectors are projected to lead the solid rocket motor market, as national security and space exploration programs depend heavily on these propulsion systems. Solid rocket motors are widely used in ballistic missiles, tactical weapons, missile defence systems, and space launch vehicles, playing a critical role in military and scientific missions. Governments prioritise solid rocket motors for their reliability, extended storage capabilities, and rapid deployability. Key defence applications include ICBMs, hypersonic missiles, and advanced tactical weapon systems. Increasing geopolitical tensions are prompting significant investments in modernising missile arsenals, particularly those reliant on solid rocket motors for high-performance applications.
Solid Rocket Motors Market- Geographical Insights
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is expected to contribute the largest share of the solid rocket motor market, supported by its well-established aerospace and defence industries, substantial government investments, and a strong ecosystem of major corporations and emerging start-ups. The region, particularly the United States, has a long-standing leadership in missile defence, space exploration, and military technology, all of which depend on solid rocket motors. The demand for high-performance missile systems-such as ballistic missiles, hypersonic weapons, and missile interceptors-remains high. Key programs fuel market expansion, including the U.S. Department of Defense's strategic deterrence initiatives like the Ground-Based Strategic Deterrent (GBSD). Additionally, increasing focus on hypersonic missile development drives the need for advanced solid propulsion systems capable of withstanding extreme stress conditions.
Key players operating within the solid rocket motor use organic and inorganic strategies to sustain their advantage over competitors and ensure growth. In the case of organic growth, leading companies focus on continuous technological progress and invest heavily in research and development. These efforts aim to further improve the efficiency, reliability, and performance of solid rocket motors. At the same time, organisations develop innovative propulsion systems based on the changing needs of defence and space applications to maintain a competitive edge in an exceedingly contested market. On the inorganic side, strategic marketing assumes importance in market development and capability enhancement so that the companies can pool resources with defence contractors and aerospace companies and save costs on risk elimination while providing them with strategic access to critical technologies. By this means, the acquisition makes the company capable of quickly assimilating state-of-the-art propulsion technologies, further enhancing its capabilities and entering new geographic markets. Thus, it and other methods help industry leaders reinforce their positions and promote steady growth in an intensely competing and ever-altering technological environment.
In June 2022, Northrop Grumman Corporation secured a multi-year contract exceeding USD 2 billion with United Launch Alliance (ULA). This agreement aims to scale up the production of GEM 63 and GEM 63XL solid rocket boosters, reinforcing Northrop Grumman's presence in the expanding space launch sector.