PUBLISHER: The Business Research Company | PRODUCT CODE: 1760418
PUBLISHER: The Business Research Company | PRODUCT CODE: 1760418
Solid Rocket Motors (SRMs) are propulsion systems that utilize solid propellants-typically a blend of fuel and oxidizer-to generate thrust. Known for their simplicity, reliability, and high thrust-to-weight ratio, SRMs are commonly used in space exploration, military operations, and satellite launch missions.
The primary product types of solid rocket motors include missiles, rocket artillery, and space launch vehicles. Missiles are precision-guided weapons powered by rocket motors, engineered to deliver explosive payloads to distant targets from various launch platforms. Key components of SRMs include propellants, nozzles, igniters, and motor casings. These motors are employed by a range of end users, including government and defense agencies, as well as commercial operators.
The solid rocket motors market research report is one of a series of new reports from The Business Research Company that provides solid rocket motors market statistics, including solid rocket motors industry global market size, regional shares, competitors with a solid rocket motors market share, solid rocket motors market segments, market trends, and opportunities, and any further data you may need to thrive in the solid rocket motors industry. This solid rocket motors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The solid rocket motors market size has grown strongly in recent years. It will grow from $5.95 billion in 2024 to $6.47 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. The growth during the historical period can be attributed to the increasing demand for space exploration, the expansion of military applications, rising budget allocations for space programs, growing demand for satellite launch services, and a higher number of space missions.
The solid rocket motors market size is expected to see strong growth in the next few years. It will grow to $8.91 billion in 2029 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period is expected to be driven by the miniaturization of aerospace technology, rising demand for high-energy propulsion systems, a greater focus on long-term space missions, increasing geopolitical tensions, and the growing demand for hypersonic weapons systems. Key trends in the forecast period include the development of high-thrust solid boosters, integration into multi-stage launch vehicles, incorporation into rapid-response military platforms, innovations in case-bonding techniques, and advancements in nozzle design for thrust vectoring.
The growing demand for defense systems is expected to drive the expansion of the solid rocket motors market. Defense systems encompass a wide range of integrated technologies, equipment, and strategies designed to protect nations or organizations from threats such as military attacks, cyber threats, or missile strikes. The increasing need for solid rocket motors in defense systems is largely driven by the rising demand for advanced surveillance, as modern defense strategies depend heavily on real-time intelligence, monitoring, and situational awareness to ensure national security and military efficiency. Solid rocket motors are essential to defense systems, providing high thrust, reliability, and flexibility, which enable advanced missile technology to be deployed quickly and precisely in diverse combat situations. For example, in December 2023, the UK Parliament's House of Commons Library reported that in 2022, the UK secured defense contracts worth £12.0 billion (around USD 15.0 billion), reflecting an increase of £4.6 billion (about USD 5.8 billion) compared to the previous year. As a result, the rising demand for defense systems is propelling the growth of the solid rocket motors market.
Key players in the solid rocket motors market are focusing on the development of advanced propulsion systems that offer enhanced performance to support next-generation defense and space missions. These next-gen propulsion systems are designed to improve rocket engine thrust, efficiency, and structural performance. They enhance solid rocket motors by increasing payload capacity, reducing weight using composite materials, and improving reliability for both defense and space applications. For example, in March 2025, L3Harris Technologies Inc., a U.S.-based defense contractor, unveiled its advanced eSR-19 solid rocket motor, featuring a lighter filament-wound composite case to boost performance. During a test by the Missile Defense Agency, the motor powered the first and second stages of an air-launched medium-range ballistic missile (MRBM). Launched from a C-17 aircraft, the USS Pinckney tracked the missile with an upgraded Standard Missile 6 system. This marked L3Harris' 39th launch in support of U.S. missile defense efforts. This development highlights the growing industry focus on next-generation propulsion technologies to meet the evolving needs of defense and space missions.
In June 2023, Anduril Industries, Inc., a U.S.-based defense technology company, acquired Adranos for an undisclosed sum. This acquisition aims to bolster the U.S. solid rocket motor supply base by fostering competition, expanding the industrial supply chain, and speeding up the development and production of critical propulsion systems for defense purposes. Adranos Inc. is a U.S.-based manufacturer specializing in solid rocket motors and fuel.
Major players in the solid rocket motors market are Avio S.p.A., Black Sky Industries Ltd, Bayern-Chemie GmbH, China Aerospace Science and Technology Corporation, Mitsubishi Heavy Industries Ltd., BAE Systems plc, L3Harris Technologies Inc., IHI Corporation, MBDA Incorporated, Aerojet Rocketdyne Holdings Inc., NOF Corporation, Kratos Defense & Security Solutions Inc., Nammo AS, Anduril Industries Inc., Karman Holdings Inc., URSA Space Systems Inc., Ultramet, EDePro d.o.o., Estes Energetics LLC, Evolution Space Inc., Firehawk Aerospace Inc., Advanced Structural Technologies Inc., X-Bow Systems Inc., Spacefields Private Limited.
North America was the largest region in the solid rocket motors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in solid rocket motors report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the solid rocket motors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The solid rocket motors market consists of sales of products including boosters, strap-on boosters, propellant, nozzles, and control thrusters. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Solid Rocket Motors Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on solid rocket motors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for solid rocket motors ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The solid rocket motors market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.