Final frontier: Government funding is on the decline, but space tourism is set to launch

The Space Vehicle and Missile Manufacturing industry has been volatile in recent years due to its high correlation with government spending levels. Declining funding for defense and scientific research initially led to decreased industry revenue. However, surging exports of missiles helped industry players offset weaker demand at home. Additionally, NASA has implemented several programs designed to encourage increased commercial participation in space flight, increasing the industry's commercial space activity. Over the five years to 2022, the defense budget is expected to level out, with funding for certain industry products to climb. However, overall federal funding on industry products will remain constrained and may even further decline if sequestration continues...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22

Industry Threats & Opportunities

  • Despite declining funding for defense and scientific research, surging exports of missiles has benefited industry players
  • Rising tensions in the Middle East, Europe and Asia have increased demand for US missile systems
  • Climbing defense spending in emerging markets and continued geopolitical tensions will strengthen demand for missile exports
  • Industry Report - Industry Analysis Chapter

    The Space Vehicle and Missile Manufacturing industry underwent volatility over the past five years. Industry players manufacture and develop missiles (including air-defense, ballistic, air-to-air and ground missiles) space launch vehicles, relevant propulsion systems, rockets, spacecraft and associated parts and components. As government funding for defense and space programs contracted, demand for industry products fell. This caused industry revenue to initially contract. Nonetheless, industry programs were less impacted by defense cuts than other platforms, while increasing exports helped offset weaker domestic demand. In more recent years, the pick in US bombing operations in the Middle East has boosted revenue. Mor...purchase to read more.

    Additional Insights for the Space Vehicle & Missile Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Space Vehicle & Missile Manufacturing Industry are

  • Well-developed internal processes
  • Ability to take advantage of government subsidies and other grants
  • Ability to expand and curtail operations rapidly in line with market demand
  • IBISWorld analysts also discuss how external factors such as Federal funding for defense and NATO defense spending in the Space Vehicle & Missile Manufacturing industry impact industry performance..

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    What's in this report

    What is the Space Vehicle & Missile Manufacturing Industry?

    The Space Vehicle and Missile Manufacturing industry consists of businesses involved in the manufacture of guided missiles and space vehicles, including the development of prototypes and the manufacture and development of parts, propulsion units and support equipment used in guided missiles and space vehicles. This industry does not produce satellites.

    Industry Products
  • Missile systems
  • Space systems
  • Propulsion systems
  • Other missile and space vehicle parts
  • Industry Activities
  • Manufacturing complete guided missiles
  • Manufacturing complete space vehicles
  • Researching and developing complete missiles
  • Manufacturing missile and space vehicle propulsion units
  • Manufacturing missile and space vehicle components and parts
  • Researching and developing missile and space vehicle propulsion units
  • Researching and developing missile and space vehicle components and parts
  • Manufacturing and development of space ground equipment
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Federal funding for defense
  • NATO defense spending
  • Technological change for the Space Vehicle and Missile Manufacturing industry
  • Demand from satellite telecommunications providers
  • Trade-weighted index

  • Current Performance
  • Government funding
  • Trade gains significance
  • A more dynamic industry
  • Chart: Revenue Growth

  • Industry Outlook
  • Government funding stabilizes
  • Continued dynamism
  • Table: Space Vehicle & Missile Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Space Vehicle & Missile Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Space Vehicle & Missile Manufacturing
  • Public Administration

  • Key Selling Industries
  • Circuit Board & Electronic Component Manufacturing
  • Computer Manufacturing
  • Engine & Turbine Manufacturing
  • Molybdenum & Metal Ore Mining
  • Semiconductor & Circuit Manufacturing

  • Products & Services
  • Missile systems
  • Space systems
  • Propulsion systems
  • Other missile and space vehicle parts
  • Chart: Space Vehicle & Missile Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • US military
  • Domestic civilian market
  • Exports
  • Chart: Major Market Segmentation for the Space Vehicle & Missile Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages and depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Space Vehicle & Missile Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Space Vehicle & Missile Manufacturing Industry

  • Industry Globalization
    Raytheon Company, Lockheed Martin Corporation, The Boeing Company, Orbital ATK Inc., Aerojet Rocketdyne Holdings,
  • Table: Raytheon Company - financial performance
  • Table: Lockheed Martin Corporation - financial performance
  • Table: The Boeing Company - financial performance
  • Table: Orbital ATK Inc. - financial performance
  • Table: Aerojet Rocketdyne Holdings - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Space Vehicle & Missile Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Space Vehicle & Missile Manufacturing Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Federal Funding for Defense (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Missile Defense Agency (Mda)
  • The section of the US government's Department of Defense responsible for developing a layered defense against ballistic missiles.
  • National Missile Defense System (Nmds)
  • A system envisioned by the 1999 National Missile Defense Act to protect the country from ballistic missile attack by hostile sources.
  • United Launch Alliance (Ula)
  • A joint venture between major players Lockheed Martin and Boeing intended to offer greater protection and security to the space launch industry.
  • What Our Customers Say

    Why buy this report?

    The Space Vehicle & Missile Manufacturing Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Space Vehicle & Missile Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Space Vehicle & Missile Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Space Vehicle & Missile Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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