Overview of the Market for Guided Missile And Space Vehicle in the USA

The U.S. market for guided missiles and space vehicles expanded rapidly to $ in 2019, with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of % y-o-y. Guided missile and space vehicle consumption peaked in 2019 and is likely to see gradual growth in the near future.

In value terms, guided missile and space vehicle production reached $ in 2019. The total output value increased at an average annual rate of +% over the period from 2013 to 2019; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of % against the previous year. Guided missile and space vehicle production peaked in 2019 and is likely to continue growth in years to come.

Guided missile and space vehicle consumption in the U.S. expanded significantly to units in 2019, surging by % against the year before. Over the period under review, the total consumption indicated a strong increase from 2013 to 2019: its volume increased at an average annual rate of +% over the last six years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the consumption volume increased by % y-o-y. Over the period under review, consumption hit record highs in 2019 and is expected to retain growth in the immediate term.

The value of the market for guided missiles and space vehicles in the U.S. totaled $ in 2019, surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of % year-to-year. Over the period under review, the market hit record highs in 2019 and is likely to continue growth in years to come.

Driven by increasing demand for guided missile and space vehicle in the U.S., the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to units by the end of .

Over the period under review, imports of guided missile and space vehicle in the U.S. were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for guided missile and space vehicle.

This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.