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.
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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 market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:
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.
Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:1) By Product Type: Missiles; Rocket Artillery; Space Launch Vehicles
2) By Component: Propellants; Nozzles; Igniters; Motor Casing
3) By End User: Government And Defense; Commercial Operators
2) By Rocket Artillery: Tactical Rockets; Long-Range Rockets; Short-Range Rockets; Multiple Launch Rocket Systems (MLRS)
3) By Space Launch Vehicles: Small-Lift Launch Vehicles; Medium-Lift Launch Vehicles; Heavy-Lift Launch Vehicles; Reusable Launch Vehicles
Companies Mentioned: Avio S.p.A.; Black Sky Industries Ltd; Bayern-Chemie GmbH; China Aerospace Science and Technology Corporation; Mitsubishi Heavy Industries Ltd.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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Table of Contents
1. Executive Summary
2. Solid Rocket Motors Market Characteristics
3. Solid Rocket Motors Market Trends And Strategies
4. Solid Rocket Motors Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market
5. Global Solid Rocket Motors Growth Analysis And Strategic Analysis Framework
5.1. Global Solid Rocket Motors PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis Of End Use Industries
5.3. Global Solid Rocket Motors Market Growth Rate Analysis
5.4. Global Solid Rocket Motors Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
5.5. Global Solid Rocket Motors Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
5.6. Global Solid Rocket Motors Total Addressable Market (TAM)
6. Solid Rocket Motors Market Segmentation
6.1. Global Solid Rocket Motors Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Missiles
Rocket Artillery
Space Launch Vehicles
6.2. Global Solid Rocket Motors Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Propellants
Nozzles
Igniters
Motor Casing
6.3. Global Solid Rocket Motors Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Government And Defense
Commercial Operators
6.4. Global Solid Rocket Motors Market, Sub-Segmentation Of Missiles, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Air-To-Air Missiles
Surface-To-Air Missiles
Surface-To-Surface Missiles
Anti-Ship Missiles
Anti-Tank Missiles
6.5. Global Solid Rocket Motors Market, Sub-Segmentation Of Rocket Artillery, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Tactical Rockets
Long-Range Rockets
Short-Range Rockets
Multiple Launch Rocket Systems (MLRS)
6.6. Global Solid Rocket Motors Market, Sub-Segmentation Of Space Launch Vehicles, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Small-Lift Launch Vehicles
Medium-Lift Launch Vehicles
Heavy-Lift Launch Vehicles
Reusable Launch Vehicles
7. Solid Rocket Motors Market Regional And Country Analysis
7.1. Global Solid Rocket Motors Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Solid Rocket Motors Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion