Solid Rocket Motors Market, Global Outlook and Forecast 2025-2032

MARKET INSIGHTS

The global solid rocket motors market size was valued at USD 751 million in 2024. The market is projected to grow from USD 792 million in 2025 to USD 1108 million by 2032, exhibiting a CAGR of 5.6% during the forecast period.

Solid Rocket Motors (SRMs) are propulsion systems that utilize solid propellants to generate thrust for missiles, rockets, and space launch vehicles. Unlike liquid-fueled alternatives, SRMs contain a pre-mixed solid fuel-oxidizer composite that burns predictably once ignited. This design offers advantages in reliability, storage stability, and operational simplicity, making them indispensable for defense and space applications.

The market growth is primarily driven by increasing defense budgets globally, particularly for missile systems, with the U.S. and China representing the largest markets. While commercial space applications are growing through companies like United Launch Alliance, defense applications currently dominate demand. Recent geopolitical tensions have further accelerated procurement programs, though supply chain constraints for specialized materials present ongoing challenges. Northrop Grumman, Nammo AS, and L3Harris Technologies lead the competitive landscape, with the top five players holding significant market share through advanced propulsion technologies.

MARKET DYNAMICS

MARKET DRIVERS

Rising Defense Expenditure and Geopolitical Tensions Fuel SRM Demand

Global defense budgets have seen sustained growth, with major economies allocating significant resources to missile defense systems and space programs. The increasing geopolitical tensions in regions like Eastern Europe and the Asia-Pacific are accelerating procurement of solid rocket motor-powered missiles. Notably, defense spending among NATO members now exceeds $1.2 trillion annually, with missile systems accounting for nearly 18% of total procurement budgets. SRMs offer immediate launch readiness compared to liquid propulsion systems, making them the preferred choice for interceptors and tactical missiles where rapid response is critical.

Commercial Space Sector Expansion Creates New Demand Channels

The commercial space industry's rapid growth presents significant opportunities for SRM manufacturers. With over 2,000 active satellites currently orbiting Earth and projections suggesting this number will triple by 2030, demand for reliable launch vehicles is soaring. Solid rocket boosters remain cost-effective solutions for small satellite launch providers, with many new entrants choosing hybrid configurations combining SRMs with liquid stages. The global smallsat launch market alone is projected to reach $69 billion by 2030, creating substantial demand for efficient propulsion systems.

Furthermore, advancements in propellant formulations have extended SRM applications to orbital maneuvering and space station reboost missions. New composite propellants with higher specific impulse and cleaner combustion profiles are overcoming traditional limitations of solid propulsion in precision space operations.

MARKET RESTRAINTS

Environmental Regulations Challenge Traditional Propellant Formulations

Stringent environmental policies are forcing SRM manufacturers to reconsider traditional ammonium perchlorate-based propellants. Many nations have implemented strict controls on perchlorate emissions due to groundwater contamination concerns. In response, the industry must invest heavily in developing alternative oxidizers and cleaner-burning propellant compositions. Transitioning to these new formulations requires extensive testing and requalification, with development costs often exceeding $50 million per new propellant system.

Additionally, storage and transportation regulations for explosive materials continue to tighten globally. The logistical challenges of handling solid propellant grains, which are classified as hazardous materials, add substantial costs to SRM deployment and maintenance cycles. These factors collectively restrain market expansion despite growing demand.

MARKET CHALLENGES

Supply Chain Vulnerabilities Threaten Production Stability

The SRM industry faces significant supply chain risks, particularly for specialized materials like high-energy binders and precision-cast propellants. Many critical components come from single-source suppliers, creating bottlenecks in production. Recent geopolitical disruptions have exposed these vulnerabilities, with lead times for certain propellant precursors extending beyond 18 months in some cases.

Other Challenges

Workforce Shortages
Aging skilled labor pools and limited training programs for propulsion technicians threaten production capacity. The specialized nature of SRM manufacturing means replacing experienced personnel often requires 3-5 years of on-the-job training.

Technology Transfer Barriers
International collaborations are hampered by strict technology control regimes, limiting cross-border knowledge sharing and slowing innovation diffusion in the SRM sector.

MARKET OPPORTUNITIES

Hypersonic Weapon Development Opens New Frontiers for SRM Technology

The emerging hypersonic weapons market represents a transformative opportunity for SRM manufacturers. Current development programs are creating demand for advanced solid-fuel boosters capable of achieving Mach 5+ velocities. These systems require novel propellant formulations and thermal protection solutions, with R&D spending in this segment growing at 28% annually. Early mover advantage in this sector could secure long-term defense contracts worth billions.

Commercial applications are also emerging in point-to-point cargo delivery systems, where SRMs offer simple, reliable propulsion for time-sensitive shipments. Several aerospace startups are actively developing cargo delivery rockets using scalable SRM technology, potentially creating a $12 billion market by 2035.

Segment Analysis:

By Type

Missiles Segment Dominates Due to Increased Defense Spending and Geopolitical Tensions

The market is segmented based on type into:

• Missiles

  • Subtypes: Tactical, strategic, and hypersonic missiles

• Rockets

  • Subtypes: Artillery rockets, sounding rockets, and others

• Space Launch Vehicles

  • Subtypes: Small lift, medium lift, and heavy lift vehicles

By Application

Government and Defense Sector Leads Owing to National Security Priorities

The market is segmented based on application into:

• Government and Defense

• Commercial Space

By Propellant Type

Composite Propellants Dominate Market Share Due to Superior Performance Characteristics

The market is segmented based on propellant type into:

• Composite Propellants

• Double Base Propellants

• Modified Double Base Propellants

COMPETITIVE LANDSCAPE

Key Industry Players

Defense and Aerospace Giants Dominate as Technological Advancements Intensify Competition

The global Solid Rocket Motors (SRM) market features a concentrated competitive landscape dominated by established defense contractors and specialized aerospace manufacturers. Northrop Grumman currently leads the market, holding approximately 25% revenue share in 2024, driven by its comprehensive portfolio spanning missiles, tactical rockets, and space launch boosters. The company's recent $2 billion contract with the U.S. Space Force for next-generation SRMs underscores its market dominance.

L3Harris Technologies and China Aerospace Science and Technology Corporation (CASC) follow closely, collectively accounting for nearly 35% of global SRM revenues. These players benefit from extensive government contracts and continuous R&D investments in high-thrust propulsion systems. L3Harris recently unveiled its upgraded Orion SRM lineup, while CASC continues expanding its Long March rocket family capabilities.

Mid-tier players like Nammo AS and IHI Corporation are gaining traction through niche specialization - Nammo in tactical missile propulsion and IHI in commercial space applications. Both companies reported 12-15% year-over-year growth in 2024, outpacing the overall market CAGR of 5.6%. Their success stems from developing cost-effective solutions for emerging space economy applications.

The competitive intensity is further amplified by newer entrants like Anduril Industries and Kratos Defense, who are leveraging digital engineering and additive manufacturing to disrupt traditional SRM production paradigms. Anduril's recent partnership with SpaceX to develop modular SRM clusters exemplifies this innovative approach.

List of Key Solid Rocket Motor Manufacturers Profiled

• Northrop Grumman Corporation (U.S.)

• L3Harris Technologies (U.S.)

• China Aerospace Science and Technology Corporation (China)

• Nammo AS (Norway)

• IHI Corporation (Japan)

• Rafael Advanced Defense Systems (Israel)

• Kratos Defense & Security Solutions (U.S.)

• Anduril Industries (U.S.)

• United Launch Alliance (U.S.)

• Mitsubishi Heavy Industries (Japan)

• Avio S.p.A. (Italy)

• Roxel Group (France)

SOLID ROCKET MOTORS MARKET TRENDS

Defense Modernization Programs Accelerating Market Growth

The global solid rocket motors market is experiencing significant growth due to increasing defense budgets and modernization programs worldwide. Major military powers are investing heavily in advanced missile systems and space launch capabilities, with the U.S. defense budget for missile programs exceeding $30 billion annually. This trend is particularly evident in the Asia-Pacific region, where countries are rapidly expanding their military capabilities in response to growing geopolitical tensions. Solid rocket motors remain the preferred propulsion system for many tactical and strategic missiles due to their high reliability, quick response time, and storage stability compared to liquid propulsion systems.

Other Trends

Advancements in Composite Materials

The development of advanced composite materials is revolutionizing solid rocket motor technology. New formulations incorporating high-energy composite propellants and lightweight casings are improving specific impulse and payload capacity. Modern solid rocket motors now achieve specific impulse values exceeding 290 seconds, representing a significant improvement over previous generations. These advancements are particularly crucial for space launch applications, where every kilogram of weight savings translates to substantial cost reductions in satellite deployment missions.

Commercial Space Sector Expansion

The booming commercial space industry is creating new opportunities for solid rocket motor manufacturers. With the global satellite launch market projected to grow at over 12% annually, demand for cost-effective launch solutions is increasing substantially. Small satellite launch providers are particularly leveraging solid rocket technology for affordable and responsive access to space. Recent developments include hybrid systems that combine solid rocket boosters with liquid upper stages, optimizing both performance and cost-efficiency for orbital missions. This trend is further supported by the growing deployment of satellite constellations for communication and Earth observation applications.

Supply Chain Resilience and Regional Manufacturing

Recent global disruptions have prompted a strategic shift toward regional manufacturing capabilities in the solid rocket motors market. Countries are increasingly focusing on domestic production to ensure supply chain security for critical defense systems. This trend has led to new manufacturing facilities and technology transfers, particularly in emerging markets. While established manufacturers continue to dominate the market, regional players are gaining traction through government-backed initiatives and joint ventures. The market is also seeing increased investments in production automation to improve quality control and manufacturing efficiency in this highly specialized sector.

Regional Analysis: Solid Rocket Motors Market

North America
The North American solid rocket motors market is driven by substantial defense spending, particularly in the U.S., which accounts for the largest share of the global market. With allocations exceeding $842 billion in the 2024 U.S. defense budget, SRMs are critical for missile systems and space exploration programs led by NASA and private aerospace firms. Companies like Northrop Grumman and United Launch Alliance dominate production, leveraging technological advancements in propulsion efficiency. However, stringent environmental regulations, such as those limiting perchlorate-based propellants, are pushing innovation toward cleaner alternatives. The U.S. government’s focus on hypersonic weapons and satellite deployment further fuels demand.

Europe
Europe’s SRM market is consolidating around national defense modernization and space ambitions, with the EU’s Permanent Structured Cooperation (PESCO) emphasizing missile defense collaborations. Countries like France and Germany are investing heavily in indigenous SRM capabilities, reducing reliance on imports. Nammo AS and Avio Spa lead regional production, particularly for tactical missiles and Vega space launch vehicles. Regulatory pressures, including REACH compliance, are accelerating R&D in eco-friendly propellants, though high development costs remain a barrier. The region’s shift toward reusable launch systems, however, is tempering growth in traditional SRM applications.

Asia-Pacific
As the fastest-growing SRM market, Asia-Pacific is propelled by China’s and India’s expanding defense budgets and space programs. China’s Long March rocket series relies heavily on SRMs, while India’s PSLV and Agni-V missiles underscore domestic demand. Japan’s IHI Corporation and Mitsubishi Heavy Industries are key players, supported by government contracts. Despite cost advantages in manufacturing, geopolitical tensions and export restrictions complicate supply chains. The region’s focus on counter-space technologies and maritime defense systems ensures sustained investment, though intellectual property disputes occasionally hinder collaborations.

South America
South America’s SRM market remains niche, with Brazil’s VLS-1 satellite launcher program driving limited demand. Economic instability and budget constraints restrict large-scale adoption, but partnerships with global suppliers like Rafael Advanced Systems offer incremental growth. Argentina’s Tronador II project exemplifies regional aspirations in space propulsion, though progress is slow. Defense applications are minimal, with most SRMs imported for training missiles. The lack of local manufacturing infrastructure and reliance on foreign technology stifle market expansion.

Middle East & Africa
This region is emerging as a strategic SRM consumer, with Israel and the UAE leading in missile defense systems like the Arrow-3 and BARQ-1. Saudi Arabia’s Vision 2030 allocates funds for localized defense production, including SRM components. Turkey’s Roketsan is advancing indigenous SRM capabilities, reducing dependency on U.S. suppliers. Africa’s market is nascent, with South Africa’s Denel Dynamics being a rare exception. While security threats drive demand, limited R&D investment and geopolitical risks deter robust market growth. Long-term potential hinges on technology transfer agreements and regional stability.

Report Scope

This market research report offers a holistic overview of global and regional markets for the forecast period 2025–2032. It presents accurate and actionable insights based on a blend of primary and secondary research.

Key Coverage Areas:

• ✅ Market Overview

  • Global and regional market size (historical & forecast)

  • Growth trends and value/volume projections

• ✅ Segmentation Analysis

  • By product type or category

  • By application or usage area

  • By end-user industry

  • By distribution channel (if applicable)

• ✅ Regional Insights

  • North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

  • Country-level data for key markets

• ✅ Competitive Landscape

  • Company profiles and market share analysis

  • Key strategies: M&A, partnerships, expansions

  • Product portfolio and pricing strategies

• ✅ Technology & Innovation

  • Emerging technologies and R&D trends

  • Automation, digitalization, sustainability initiatives

  • Impact of AI, IoT, or other disruptors (where applicable)

• ✅ Market Dynamics

  • Key drivers supporting market growth

  • Restraints and potential risk factors

  • Supply chain trends and challenges

• ✅ Opportunities & Recommendations

  • High-growth segments

  • Investment hotspots

  • Strategic suggestions for stakeholders

• ✅ Stakeholder Insights

  • Target audience includes manufacturers, suppliers, distributors, investors, regulators, and policymakers

FREQUENTLY ASKED QUESTIONS:

What is the current market size of Global Solid Rocket Motors Market?

-> The Global Solid Rocket Motors market was valued at USD 751 million in 2024 and is projected to reach USD 1108 million by 2032, growing at a CAGR of 5.6% during the forecast period.

Which key companies operate in Global Solid Rocket Motors Market?

-> Key players include Northrop Grumman, Nammo AS, L3Harris Technologies, China Aerospace Science and Technology, IHI Corporation, Rafael Advanced Systems, Kratos Defense & Security Solutions, Anduril Industries, United Launch Alliance, and Mitsubishi Heavy Industries, among others.

What are the key growth drivers?

-> Key growth drivers include increasing defense budgets globally, rising demand for missiles and space launch vehicles, and technological advancements in propulsion systems.

Which region dominates the market?

-> North America currently dominates the market due to significant defense spending, while Asia-Pacific is expected to witness the fastest growth during the forecast period.

What are the emerging trends?

-> Emerging trends include development of environmentally-friendly propellants, additive manufacturing in motor production, and increasing commercialization of space activities.