HOME Research Insight Long-Term Contracts and Agreements are Among the Key Strategies Adopted by the Leading Players to Grow in the Rocket and Missile Market



Long-Term Contracts and Agreements are Among the Key Strategies Adopted by the Leading Players to Grow in the Rocket and Missile Market


In 2017, the rocket and missile market was dominated by Lockheed Martin Corporation (U.S.), MBDA Holdings SAS (France), Rafael Advanced Defense Systems Ltd. (Israel), The Raytheon Company (U.S.), and SAAB AB (Sweden), among others. These companies are expected to continue their dominance during the forecast period.

Contracts was the key strategy adopted by the companies to grow in the rocket and missile market. This strategy accounted for a share of 85% of the total growth strategies adopted by the players of the rocket and missile market between 2014 and 2017.

Top two players of the rocket and missile market

Lockheed Martin Corporation (U.S.) operates in four business segments, namely, Aeronautics, Missiles & Fire Control (MFC), Rotary & Mission Systems (RMS), and Space Systems. The company offers rockets and missiles through Missiles & Fire Control (MFC) segment. Lockheed Martin offers products and services that cater to defense, civil, and commercial applications. Some of the major subsidiaries of Lockheed Martin Corporation include Lockheed Martin Australia Pty Limited, Lockheed Martin U.K. Limited, Lockheed Martin Canada Inc., Lockheed Martin Global, Inc. (Singapore), and Lockheed Martin Logistics Management, Inc. (U.S.). The company has operations in the Americas, Europe, Asia-Pacific, the Middle East, and Africa. Contracts is the major strategy adopted by Lockheed Martin Corporation to strengthen its position in the rocket and missile market. For instance, in 2016, Lockheed Martin signed a contract worth USD 1,452.0 million with the U.S. Army to manufacture Patriot missiles. In the same year, it signed another contract worth USD 331.8 million with the U.S. Army for the Lot 11 production of rockets with Guided Multiple Launch Rocket System (GMLRS).

MBDA Holdings SAS supplies missiles and weapon systems to the UAE and other international customers. The company designs, manufactures, and supplies an entire range of missile and missile systems to meet the requirements of the defense market. The company has a global presence predominantly in the U.S., the U.K., France, Germany, Spain, and Italy. The company gained several contracts from the Middle Eastern and European countries. For instance, in 2017, it received a contract worth USD 93.6 million from the UAE Naval Forces to supply Marte MK2/N anti-ship missiles. In the same year, it received a contract worth USD 183.0 million from the U.K. and France to modernize the Storm Shadow/SCALP missile used by the Royal Air Force.

Companies such as Lockheed Martin Corporation (U.S.) and MBDA, Inc. (U.K.) have made significant contribution to the global rocket and missile market. These companies, along with Rafael Advanced Defence Systems Ltd. (Israel) are expected to witness significant growth in the coming years, primarily owing to the strategies of long-term contracts and agreements adopted by them in recent years.

Related Reports:

Rocket and Missile Market by Type (Missile, Rocket), Launch Mode (Surface-to-Surface, Surface-to-Air, Air-to-Air, Air-to-Surface, Subsea-to-Surface), Propulsion (Solid, Liquid, Hybrid, Scramjet, Turbojet, Ramjet) & Region - Global Forecast to 2022

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