Solid Rocket Motor Market Size, Share & Analysis, By Platform (Missiles, Rocket Artillery, Space Launch Vehicle & Boosters, and Model & Sounding Rockets), By Stage (Single-Stage and Multi-Stage), By Component (Propellant, Igniter, Thruster/Nozzle, Motor Casing & Insulation, and Others), By End User (Space Agencies, Research Institutes, and Defense), and Regional Forecast, 2025-2032

The solid rocket motor market size was valued at USD 5,867.2 million in 2024. It is projected to grow from USD 6,345.9 million in 2025 to USD 11,067.7 million by 2032, exhibiting a CAGR of 8.27% during the forecast period. North America dominated the solid rocket motor market with a market share of 42.32% in 2024.

Solid Rocket Motors (SRMs) are used widely in missile systems for strategic deterrence, air defense, and tactical missions due to their long shelf life and consistent performance under challenging conditions. The growth of the market is driven by growing demand in defense and space applications, where SRMs are valued for their simplicity, dependability, high thrust, and quick deployment capabilities. In space technology, SRMs deliver the initial thrust required to orbit satellites and other payloads, supporting government and commercial space exploration programs. The Asia Pacific region will register the highest growth, fueled by huge investments toward space and defense modernization, followed by ongoing investments in R&D and newer propulsion technologies in North America and Europe.

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Major players in the market comprise Northrop Grumman, Aerojet Rocketdyne, Nammo AS, and China Aerospace Science and Technology Corporation. These organizations are actively pursuing innovations in SRM technologies, including novel propellant compositions for greater efficiency, green materials, and increased thrust levels. Strategic initiatives include increasing production capacity, forming alliances, and executing large-scale projects such as NASA's Space Launch System (SLS), which is projected to hold a considerable portion of the market share by 2025. In response to evolving needs from the defense and space sectors, companies also invest in R&D to advance current systems, focusing on rapid-response missile systems and reusable space launch vehicles.

GLOBAL SOLID ROCKET MOTOR MARKET KEY TAKEAWAYS

Market Size & Forecast:

• 2024 Market Size: USD 5,867.2 million
• 2025 Market Size: USD 6,345.9 million
• 2032 Forecast Market Size: USD 11,067.7 million
• CAGR: 8.27% from 2025 to 2032

Market Share:

• North America led the global solid rocket motor market in 2024, holding a 42.32% share, driven by its strong defense-industrial base and space program investments.

Key Country Highlights

• United States: With the U.S. Department of Defense investing heavily in missile modernization and Anduril Industries securing contracts to expand SRM manufacturing, the domestic SRM industry is growing steadily.
• Europe: The European Space Agency continues to innovate with programs like Ariane 6 leveraging advanced solid boosters (e.g., P120C), enhancing European SRM capabilities.
• Asia Pacific: Nations including India and China are ramping up military and space launch programs, elevating SRM demand—e.g., China's Lijian‑1 solid-propellant rocket launch.
• Middle East & Africa: Defense modernization efforts in Gulf nations, notably Saudi Arabia, UAE, and Turkey, are contributing to SRM demand growth regionally.
• Latin America: While at a smaller scale due to limited infrastructure, emerging defense and space initiatives in Brazil, Argentina, and Mexico are starting to stimulate interest in SRM systems.

Market Dynamics

Market Drivers

Government-Industry Collaborations to Drive Market Growth

Collaborative contracts and government-industry cooperative agreements drive innovation and expand production capacity. These collaborations foster the development of new technologies and approaches and extensively facilitate market access and growth opportunities. By aligning resources and sharing expertise, both sides can commence innovative projects, optimize production processes, and better respond to evolving consumer needs in a rapidly changing market.

For instance, the CASTOR rocket motor debuted as a second-stage booster for NASA's Scout X-1 rocket in September 1960. Since then, Northrop Grumman has continued to advance the CASTOR series by leveraging foundational technology derived from four generations of ballistic missile boosters and with expertise gained from expendable launch vehicle programs.

Increasing Geopolitical Tensions to Boost Market Growth

The increasing geopolitical tensions globally are likely to impact the solid rocket motor market growth positively. As countries continue to invest in their defense capabilities due to regional conflicts and strategic threats, the demand for advanced propulsion systems, especially SRMs, is expected to increase.

Nations are concentrating on building up their military arsenals, resulting in increased demand for effective and reliable missile, space, and defense propulsion technologies. In addition, the continuous arms race and increase in the scope of space research programs are intensifying the need for innovation and global competition in this sector.

Continuous Ongoing Space Exploration Programs to Boost Market Growth

Expanding space programs and commercial space ventures drive demand for SRMs, especially satellite deployment and human spaceflight missions. Their simplicity, high performance, and ability to provide initial thrust make them critical for space launch systems.

Market Restraints

High Development and Manufacturing Costs to Hinder Market Growth

The complex engineering, specialized materials, and rigorous testing required to ensure the performance, safety, and reliability of SRMs significantly increase development costs. These high barriers to entry pose challenges for smaller companies and countries with limited defense budgets, making it difficult to enter or scale within the market. Smaller defense budgets and limited industrial base in some countries restrict their ability to develop or produce SRMs domestically, forcing reliance on imports or partnerships with larger defense contractors.

Stringent Regulatory and Safety Standards to Limit Market Expansion

Compliance with strict aerospace and defense regulations and safety standards requires extensive testing, certifications, and approvals. These requirements extend development timelines and add to costs, potentially slowing the introduction of new technologies in the SRM market.

Geopolitical and Trade Uncertainties: Ongoing geopolitical tensions can complicate supply chains and international collaborations, impacting the availability of raw materials and components critical for SRM production.

Supply Chain Challenges to Hamper Market Progress

Procuring specialty materials such as advanced composites and energetic propellants is limited to a few niche suppliers. This concentration can lead to delays, supply chain disruptions, and difficulties in scaling up production rapidly to meet the growing needs of military and aerospace, especially amid geopolitical tensions and trade restrictions.

Market Opportunities

Increasing Spending on Defense Systems to Fuel Market Expansion

Increasing investments by nations globally to modernize military capabilities and procure advanced missile systems powered by solid rocket motors are a primary growth driver. SRMs are favored for their reliability, high thrust, long shelf life, and rapid deployment capabilities in strategic and tactical defense applications.

For instance, in February 2025, defense technology contractor Anduril Industries secured a USD 14.3 million contract from the U.S. Department of Defense to expand SRM production. This initiative reflects the Pentagon’s effort to strengthen domestic manufacturing capabilities amid growing supply chain concerns.

Rising Demand in Space Exploration to Drive Market Growth

Solid rocket motors are used across various aerospace applications and are particularly prominent in heavy-lift launches, satellite deployments, and lunar missions. These motor systems are used due to their high reliability and strong thrust output, making them uniquely best suited for deep space missions.

In heavy-lift operations, such as launching commercial satellites or conducting resupply missions to space stations, such motors provide consistent performance and stability, helping ensure that missions meet tight deadlines and targets.

Additionally, in lunar missions, SRMs have been used to enable soft landings and support ascent maneuvers. These functions are essential for the success of missions to study the moon's geology and assess possible resources. As space and private organizations continue to advance the boundaries of exploration, SRMs continue to be favored for their simple design and ease of integration, making them an ideal option for various space exploration operations.

Solid Rocket Motors Market Trends

Technological Innovation and R&D to Favor Market Growth

Ongoing research and development activities and innovative breakthroughs in materials science are driving the market. These advancements are improving the overall performance of SRMs, improving safety mechanisms, and promoting environmental sustainability.

Scientists are developing new composite materials that can withstand higher stresses and temperatures, making rocket propulsion systems more efficient and reliable. Technological progress in manufacturing processes is also making it possible to produce these motors with greater precision, enhancing their operational safety and efficiency.

For instance, in December 2023, Northrop Grumman Corporation successfully conducted a full-scale static test fire of a new solid rocket motor developed in less than a year as part of its Solid Motor Annual Rocket Technology Demonstrator (SMART Demo). The company reported that the SMART Demo successfully demonstrated several innovative technologies, alternative manufacturing materials, and processes that reduce lead times by 75%.

Furthermore, the market is also putting greater emphasis on environmentally friendly operations. This ranges from looking for more environmentally friendly propellant alternatives with lower harmful emissions to reducing environmental impact during launches. The fusion of improved performance, stringent safety standards, and an environment-friendly approach is shaping the market's future.

Growing Reusable Space Launch Vehicles to Fuel Market Development

The solid rocket motors market is experiencing strong growth trends, driven by the growing use of SRMs in reusable space launch vehicles and the fast-growing commercial space sector. Organizations recognize that the reliability and performance benefits of SRMs make them well-suited for missions involving multiple launches.

For instance, in December 2020, ESA announced plans for the maiden flight demonstration of a prototype reusable rocket first stage named Themis in 2023. The Themis program aims to provide valuable insights into the economic worth of reusability for Europe and to develop technologies applicable to future European launchers. Themis is based on decisions made during the European technological breakthroughs in reusability and follows a leaner and cost-conscious development approach. In December 2020, ESA signed a USD 40 million contract with French prime contractor ArianeGroup for the 'Themis Initial Phase'.

For instance, in August 2024, The Wall Street Journal reported that Lockheed Martin and General Dynamics plan to build their rocket motors, seeking to tackle a persistent shortage impacting Ukraine’s defense capabilities and U.S. efforts to deter China. General Dynamics will start production next year at its facility in Arkansas, which would initially produce thousands of SRMs annually exclusively for Lockheed Martin.

SEGMENTATION ANALYSIS

By Platform

Increasing Defense Spending Amid Geopolitical Tensions Boosts Missiles Segment Growth

By platform, the market is divided into missiles, rocket artillery, model & sounding rockets, and space launch vehicle & boosters.

The missiles segment holds the largest solid rocket motor market share and is expected to maintain its dominance with the highest CAGR during the forecast period. The widespread use of SRMs in tactical and strategic missile systems is due to their compact size, reliability, and quick ignition properties, which are important for contemporary defense operations. With rising geopolitical tensions and a growing focus on developing missile arsenals, most countries are spending a lot on solid-propelled missile systems. These engines form the core of air-to-air, surface-to-air, and ballistic missile platforms due to their ability to deliver high thrust and rapid response times, strengthening the segment’s market leadership.

For instance, in April 2023, the U.S. Department of Defense awarded Aerojet Rocketdyne a USD 215.6 million cooperative agreement to upgrade and expand its SRM production capacity in support of tactical missile programs.

The space launch vehicle & boosters segment is anticipated to be the second fastest-growing segment in the SRM market. SRMs are widely used in space launch boosters, particularly in the early stages of liftoff, where maximum thrust is critical. This segment is projected to grow gradually, driven by commercial and governmental interest in satellite launches and deep space exploration. The deployment of SRMs in boosters guarantees ignition and constant thrust, which are crucial in missions demanding cost-effective and efficient launch systems. The increasing need for small satellite constellations and reusable space technologies is likely to drive this segment further.

For instance, in July 2024, the European Space Agency's Ariane 6 program neared its maiden flight, featuring newly developed P160C solid rocket boosters capable of delivering higher payloads to orbit.

For instance, in January 2025, India's ISRO is developing its Next Generation Launch Vehicle (NGLV), which will feature solid-fueled boosters in a semi-reusable design for upcoming moon and interplanetary missions. These initiatives highlight the role of solid propulsion technology in advancing space exploration capabilities and further cement the importance of SRMs in the evolving space economy.

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By Stage

Single-Stage Segment Dominates Market Due to Its Simple Design

As per stage, the market is divided into single-stage and multi-stage.

The single-stage segment captures a major share of the SRM market and is expected to show the highest CAGR during 2025-2032. These motors are widely used in short-range missiles, artillery, and sounding rockets due to their simple design, low cost, ease of production, and maintainability. Their high reliability and quick ignition capabilities make them suitable for tactical battlefield operations, where efficiency and speed are most important. Single-stage SRMs are typically used in MANPADS (Man-Portable Air-Defense Systems) systems, short-range ballistic missiles (SRBMs), and other surface-launched weapons.

Recent developments reflect a rising demand for miniature propulsion systems. For instance, in March 2025, Anduril Industries started working on a lighter solid motor to enhance capacity and efficiency within rocket artillery pods, enabling lightweight single-stage propulsion systems. These advancements reflect the growing strategic importance of single-stage SRM in short-range and rapidly deployable military applications.

Multi-stage SRMs are increasingly popular in the marketplace due to their important role in strategic missile systems and space launch vehicles. These systems ignite multiple stages sequentially, achieving greater velocity, longer ranges, and improved altitude control. This makes them essential for intercontinental ballistic missiles (ICBMs), anti-satellite missiles, and satellite launcher boosters. With increasing space exploration and long-range deterrent strategies, demands for high-performance multi-stage SRM configurations increase.

For instance, in June 2024, Anduril Industries was awarded a contract to produce second-stage rocket motors for the SM-6 missile, a critical step toward improving the U.S. Navy's long-range intercept capability.

By Component

Motor Casing & Insulation Segment Leads Due to Growing Requirement for Lightweight Structural Materials

By component, the market is segmented into propellant, igniter, thruster/nozzle, motor casing & insulation, and others (vector controls, actuators, stage separator, parachute system).

The motor casing & insulation segment holds the highest market share and is expected to advance at the highest CAGR throughout the forecast period. The increasing demand for high-performance thermal protection systems and lightweight structural materials to ensure motor safety under harsh conditions is a primary driver of this segment’s growth. Insulation shields internal components from high combustion temperatures, and the casing supplies the structural core to house high-pressure gases. Moreover, advances in composite materials such as carbon fiber-reinforced polymers and advanced ablative liners improve durability, lower weight, and facilitate increased thrust-to-weight ratios, fueling the segment growth.

For instance, in March 2025, Aerojet Rocketdyne, a unit of L3Harris, started adding new light composite casings to tactical missile systems to enhance agility and range.

Propellant is the second-largest segment in the SRM market, as it plays an essential role in determining the entire motor's thrust performance, burn time, and efficiency. Most modern SRMs utilize composite propellants of ammonium perchlorate and HTPB (hydroxyl-terminated polybutadiene) or advanced varieties with metallic dopants to improve energy density. Increased demand for powerful but less harmful propellants also contributes to heavy R&D investment for green and nano-enhanced materials, resulting in market growth.

By End User

Rising Global Tensions Encourage Defense Segment Growth

By end user, the market is divided into space agencies, research institutes, and defense.

The defense segment accounts for the highest share of the market and is also expected to register the highest CAGR throughout the forecast period. This dominance stems from expanding defense budgets globally, growing geopolitical tensions, and upgrading missile and artillery systems. Solid rocket motors are widely employed in short- and medium-range ballistic missiles, tactical rockets, anti-aircraft missiles, and interceptor systems. Their quick response, low logistical support, and simplicity of deployment make them appropriate for military use.

For example, in March 2025, Anduril Industries received a substantial contract from the U.S. Army to develop a next-generation SRM for artillery and tactical missile systems.

As there is increased global demand for hypersonic defense and precision strikes over long ranges, the defense industry will remain at the forefront of SRM demand in upgrade and new procurement programs.

The commercial segment is the second-largest end-user of SRMs, fueled by growing satellite deployment, space tourism, and small-launch vehicle initiatives. SRMs are preferred in this segment due to their high thrust, simplicity, and reliability. SRMs are employed as strap-on boosters and first-stage propulsion systems in most commercial launch vehicles. Growing demand for affordable, quick access to low Earth orbit (LEO) motivates private space companies and agencies to invest in solid-propulsion-based platforms.

For instance, in March 2025, ISRO extended its partnership with Indian private launch startups, many of which utilize solid-fueled boosters for small satellite launch vehicles.

For instance, in April 2024, the European Space Agency announced that in the coming months, Europe's Ariane 6 program, on the threshold of its first launch, will feature P120C solid rocket boosters that ESA shares with commercial customers.

As solid propulsion bridges the gap between scalability and affordability, the commercial segment market is expected to contribute to segment growth. With an increased need for low-cost, rapid-launch capabilities, the segment will further gain traction.

Solid Rocket Motor Market Regional Outlook

By geography, the market is studied across North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

North America

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North America is the leader in the global market due to its robust defense industrial base, ongoing investments in missile modernization, and presence of leading space agencies such as NASA and private companies such as SpaceX and Northrop Grumman.

The U.S. is increasing its capabilities to manufacture SRMs. The persistent interest of the U.S. Department of Defense in missile defense systems, tactical rockets, and hypersonic weapons development fuels a strong demand for SRMs in military and aerospace applications.

For Instance, in May 2024, Nammo collaborated with Raytheon, a U.S. defense provider, to expand rocket motor production in Perry, Florida.

For instance, in 2024, the U.S. Army awarded various contracts to firms such as Aerojet Rocketdyne, Northrop Grumman, and Anduril Industries to increase Indigenous SRM manufacturing under growing geopolitical tensions.

Europe

Europe continues to be an important market, fueled by coordinated defense initiatives among EU member countries and the expanding commercial and institutional space launch sectors. Solid propulsion systems, including tactical missile systems, interceptors, and NATO-compatible defense platforms, are important in European defense programs. The European Space Agency (ESA) is also a key contributor, with programs such as Ariane 6 using solid rocket boosters for the mission’s success.

For instance, in June 2024, ArianeGroup reported that a second P120C successfully tested the firing of 135 seconds conducted in Kourou, French Guiana. The P120C is the world's largest monolithic carbon-fiber solid rocket motor (SRM) and is loaded with 142 tons of propellant. It is set to power the boosters of both Ariane 62 and Ariane 64 and the first stage of the Vega-C vehicle.

Asia Pacific

Asia Pacific is the region with the strongest growth in the market, driven by rising geopolitical tensions, rapid military modernization programs, and ambitious national space missions. Countries such as India, China, South Korea, and Japan are spending majorly on missile technologies and satellite launch capabilities that rely on solid rocket propulsion. The development of private space firms in the region has also boosted the need for low-cost SRMs for lightweight launch vehicles.

For instance, in July 2022, China's Lijian-1 (ZK-1) solid propellant rocket conducted its maiden flight from the Jiuquan Satellite Launch Center in Northwest China, successfully launching six satellites into their scheduled orbits. The rocket, developed by the Chinese Academy of Sciences (CAS), is 2.65 meters in diameter and 30 meters long, making it the largest solid rocket in China.

Rest of the World

The Middle East & Africa region is experiencing steady growth in the market, primarily fueled by defense modernization programs, especially in Gulf Cooperation Council (GCC) nations. Though indigenous production of SRMs is small-scale, the region is collaborating more with international defense firms to localize missile and artillery systems, some of which incorporate solid propulsion technology. Saudi Arabia, UAE, and Turkey are leading efforts in this domain.

Latin America maintains a proportionally smaller portion of the global solid rocket motor market, constrained by tight defense budgets and an immature space infrastructure. However, there is an improvement in regional defense capabilities and building space research programs in nations such as Brazil, Argentina, and Mexico.

Competitive Landscape

Key Industry Players

Key Players Focus on Developing Next-Gen Propulsion Systems to Meet Evolving Needs of Defense

Solid rocket motors are preferred in defense and space applications due to their reliability, high thrust output, long shelf life, and deployment speed, making them critical in missile systems, tactical weapons, and space launch vehicles. SRMs are favored for their simplicity, reliability, and ability to deliver high thrust, making them ideal for military missiles and space launch vehicles. However, market growth is restricted by environmental concerns related to propellant emissions and strict regulatory frameworks. Opportunities lie in technological advancements such as lightweight composite materials and hybrid propulsion integration. At the same time, geopolitical tension and increasing investment in hypersonic and long-range strike capabilities continue to shape the market dynamics.

The market is dominated by several key players, each emphasizing innovation, strategic alliances, and capacity expansion to consolidate their market positions. Key players are Northrop Grumman (U.S.), L3Harris Technologies Inc. (U.S.), Nammo AS (Norway), China Aerospace Science and Technology Corporation (China), IHI Corporation (Japan), Rafael Advanced Defense Systems Ltd. (France), Kratos Defense & Security Solutions (U.S.), and Anduril Industries (U.S.). These companies are leading the way in creating next-generation propulsion systems with enhanced thrust, efficiency, and environmental sustainability to meet the changing requirements of both defense and commercial space uses.

LIST OF KEY SOLID ROCKET MOTOR COMPANIES PROFILED

• Northrop Grumman Corp (U.S.)
• Nammo AS (Norway)
• L3Harris Technologies Inc. (U.S.)
• Anduril (U.S.)
• China Aerospace Science and Technology Corporation (China)
• IHI Corporation (Japan)
• Rafael Advanced Defense Systems Ltd (Israeli) 
• Avio S.p.A. (Italy)
• Bayern-Chemie (Germany)
• Ursa Major (U.S.)
• Kratos Defense & Security Solutions (U.S.)
• X-Bow (U.S.)

KEY INDUSTRY DEVELOPMENTS

• May 2025- Raytheon, part of RTX, granted contracts to Nammo and Northrop Grumman for preliminary work on developing the MK72 solid rocket motor. As part of these agreements, the companies will confirm design requirements and specifications and conduct a Systems Requirements Review to enhance and confirm the proposed design concepts.
• September 2024- The Pentagon awarded Ursa Major a contract worth USD 12.5 million to expand production and testing capabilities for new solid-fuel rocket engines. The award, though small, is part of a bigger effort by the Pentagon to increase the number of rocket makers as stockpiles dwindle from supplying Ukraine and Israel in their ongoing wars.
• September 2024- Lockheed Martin Australia and Thales Australia signed a partnership agreement to explore opportunities to advance the development and production of SRMs for the Australian market.
• June 2024- Anduril Industries won a USD 19 million contract to produce second-stage SRMs for the Navy's Standard Missile-6 (SM-6), reflecting an increased emphasis on innovative propulsion technologies. These investments reflect the strategic significance of SRMs in missile defense systems worldwide.
• September 2023- The U.S. Defense Department awarded X-Bow Systems a contract worth USD 64 million to position the startup as a second supplier of large-diameter SRMs for Army and Navy hypersonic weapons programs.

REPORT COVERAGE

The research report delivers a detailed market analysis and emphasizes key aspects such as key players, components, stage, platform, and end-user of solid rocket motors. Moreover, the report deals with insights into market trends, competitive landscape, market competition, product pricing, regional analysis, market players, competition landscape, and key industry growth. In addition to the above factors, the report encompasses factors that have contributed to the market growth in recent years.

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