Nuclear Weapons Market

The global nuclear weapons market to worth more than USD 130 billion in 2032

The increase in the requirement for nuclear weapons to enforce global dominance and strategic stability is supporting market opportunities. The developed nations such as U.S. and Russia within the nuclear bombs market will capture a higher market share whereas the developing nations such as China, and India will witness a higher growth rate during the forecast period of 2022-2032. China announced its plans to ramp up its nuclear capabilities by 60% by 2032, as compared to 2021. The rise in tension between nations across the globe due to the Russia-Ukraine conflicts, China-Taiwan conflicts, interference of NATO nations and the U.S. in several conflicts, and Iran-Israel conflicts among others have notably increased the dependency on nuclear weapons among major leading nations. Major nuclear-powered countries like China, North Korea, U.S., and Russia have already started nuclear weapons drills, attracting notable funding over the forecast period of 2022-2032. The aggressive approach of several non-nuclear organizations and proliferation treaties will also have a notable impact on ensuring business dynamics. The majority of Latin American, Middle Eastern, and African regions strongly adhere to these treaties and do not possess any type of nuclear capabilities.

The companies operating within the nuclear weapons industry are undergoing a merger, collaboration, research, development of new products, long-term contracts, and service agreements, and engagement with defense ministry and lobbyists to ensure market penetration. Geopolitical relationships and trade will also play a vital role in ensuring business contracts within the nuclear weapons market. Major countries across the globe are aggressively investing in the research and development of more destructive nuclear weapons supporting business opportunities. For instance, in February 2021, the U.S. announced the development of a nuclear missile capable of traveling 6,000 miles and carrying warhead 20 times larger than the one that was dropped on Hiroshima. The company has allocated a budget of $100 million with a timeline to make the missile operational by 2029. An initial fund of $13.3 billion was disbursed by the U.S. Air Force (USAF) to Northrop Grumman for the engineering and manufacturing of these missiles. The country plans to acquire 600 of them in the coming years.

According to the CXOs and primary research conducted, there are mixed signals for nuclear diplomacy amid the rising conflicts across the globe. More than 50 states declared ratification of the Treaty on the Prohibition of Nuclear Weapons (TPNW) as of January 2021. Furthermore, the five-year extension of New START was declared by participating nations. The delay of this policy allows nations to develop nuclear weapons without any restrictions. On January 2022, the nuclear-armed permanent members (P5): the U.S., China, France, Russia, and the UK declared no interest in inclination towards nuclear weapons amid rising global tension. However, all nations refrained from committing to non-proliferation, disarmament, and arms control agreements which were laid in 1986 as the Treaty on the Non-Proliferation of Nuclear Weapons. Such statements by countries having major contributions towards the nuclear weapons market will support business opportunities over the forecast period of 2022-2032.

The nuclear weapons market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In line with the analyzed region, the North American region will witness the highest market share followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. The rise in geopolitical tension across the globe, and the requirement to gain strategic dominance, followed by an increase in defense budget allocation towards the development of nuclear weapons to support the market growth across several regions. The major companies operating within the market are ArianeGroup, Airbus, BAE Systems, Boeing, BrahMos Aerospace, Lockheed Martin, MBDA, Northrop Grumman Corporation, Rafael Advance Defence System Ltd, and Raytheon Technologies Corporation.