$41.1bn
$X.Xbn
62,816
73
$X.Xbn
Space vehicle and missile manufacturers, which develop and manufacture missiles, rockets, spacecraft and related equipment and components, have faced heavy volatility through the current period. Since the US government, particularly the Department of Defense (DoD), accounts for the majority of spending on missile and space products, performance closely correlates with government spending levels. Historically, when Congress attempts to rein in spending, funding sharply declines. Even so, rising global tensions have led to surging domestic and international defense spending. Revenue has climbed at an expected CAGR of 0.4% to $39.8 billion through the current period, including a 3.1% jump in 2024. Even though the government diverted some defense spending to COVID-19 recovery programs, the pandemic minutely impacted revenue. Profit, though, has struggled because of rising competition and high input prices.
Industry revenue has grown at a CAGR of 1.0 % over the past five years, to reach an estimated $41.1bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Raytheon Technologies Corporation | 12,456.6 | 1,610.4 | 12.9 | |
Boeing Co | 9,899.7 | 656.8 | 6.6 | |
Lockheed Martin Corporation | 6,281.3 | 787.0 | 12.5 |
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Industry revenue is measured across several distinct product and services lines, including Missile systems, Space systems and Propulsion systems. Missile systems is the largest segment of the Space Vehicle & Missile Manufacturing in the US.
Global tensions increase demand for missile systems
This industry comprises businesses involved in the manufacture of guided missiles and space vehicles, including the development of prototypes and the manufacture and development of parts, propulsion units and support equipment used in guided missiles and space vehicles. This industry does not produce satellites.
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NAICS 336414 - Space Vehicle & Missile Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Defense spending drives the industry’s growth. Rising tensions across the world are a boon for companies that specialize in missile manufacturing.
Learn about an industry's products and services, markets and trends in international trade.
The vast majority of buyers are government authorities. These government agencies comprise more than 90.0% of the total market.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Southeast region is a hub for the industry, providing close proximity to multiple government buyers. Two major companies are headquartered in Virginia.
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Competition is intense, even though few manufacturers operate in the industry. Many established names make it difficult for new companies to enter.
Learn about the performance of the top companies in the industry.
Major companies dominate the industry. The four largest manufacturers dominate the addressable market and leverage existing contracts to remain dominant.
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Space vehicle and missile manufacturers face heavy government intervetion. The United States government is responsible for heavy regulation and massive funding within the ind...
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Research and development are major costs for manufacturers. Companies that successfully innovate will gain a clear competitive advantage and secure more contracts, leading to...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Space Vehicle & Missile Manufacturing in the US industry in United States is $41.1bn in 2024.
There are 73 businesses in the Space Vehicle & Missile Manufacturing in the US industry in United States, which has grown at a CAGR of 0.8 % between 2019 and 2024.
The market size of the Space Vehicle & Missile Manufacturing in the US industry in United States has been growing at a CAGR of 1.0 % between 2019 and 2024.
Over the next five years, the Space Vehicle & Missile Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Space Vehicle & Missile Manufacturing market in United States are Raytheon Technologies Corporation, Boeing Co and Lockheed Martin Corporation
Manufacturing complete guided missiles and Manufacturing complete space vehicles are part of the Space Vehicle & Missile Manufacturing in the US industry.
The company holding the most market share in United States is Raytheon Technologies Corporation.
The level of competition is moderate and increasing in the Space Vehicle & Missile Manufacturing in the US industry in United States.