Rocket and Missile Market by Product (Missiles, Rockets & Torpedoes), Speed (Subsonic, Supersonic, Hypersonic), Propulsion Type (Solid, Liquid, Hybrid Propulsion, Ramjet, Turbojet and Scramjet), Launch Mode, Guidance Mechanism, and Region -Global Forecast 2024 – 2029

SKU: GMS-1632

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OVERVIEW

The Rocket and Missile Market is currently valued at USD 57.7 billion in 2024 and will be growing at a CAGR of 6.1% over the forecast period to reach an estimated USD 77.4 billion in revenue in 2029. The rocket and missile market is a dynamic and technologically advanced sector characterized by constant innovation and strategic developments. With applications spanning military defense, space exploration, and commercial ventures, this market is driven by the increasing demand for precision-guided munitions, satellite launches, and space exploration missions. Key players in the industry continually invest in research and development to enhance capabilities such as accuracy, range, and payload capacity while simultaneously focusing on cost-effectiveness and reliability. Geopolitical tensions and evolving security threats globally also contribute to the growth of this market as nations seek to bolster their defense capabilities and assert their presence in space. Furthermore, the emergence of private space companies alongside traditional government agencies adds a new dimension of competition and collaboration, fostering a vibrant and competitive landscape within the rocket and missile market.

Geopolitical tensions and increasing security threats worldwide propel nations to invest in advanced defense systems, including missile defense and offensive capabilities, driving demand in both military and defense sectors. Additionally, the expansion of space exploration initiatives by governments and private entities fuels the demand for launch vehicles and satellite deployment systems. Technological advancements, such as miniaturization, advanced propulsion systems, and increased automation, enhance the capabilities and efficiency of rockets and missiles, further stimulating market growth. Moreover, the growing commercialization of space, including satellite-based services, space tourism, and resource exploration, opens up new avenues for market expansion and investment.

Market Dynamics

Drivers:

Geopolitical tensions and increasing security threats worldwide propel nations to invest in advanced defense systems, including missile defense and offensive capabilities, driving demand in both military and defense sectors. Additionally, the expansion of space exploration initiatives by governments and private entities fuels the demand for launch vehicles and satellite deployment systems. Technological advancements, such as miniaturization, advanced propulsion systems, and increased automation, enhance the capabilities and efficiency of rockets and missiles, further stimulating market growth. Moreover, the growing commercialization of space, including satellite-based services, space tourism, and resource exploration, opens up new avenues for market expansion and investment.

Key Opportunities :

Key opportunities abound in the rocket and missile market, driven by various factors. The rising demand for satellite-based services, including communication, navigation, and Earth observation, presents a significant growth avenue for launch vehicle manufacturers and satellite deployment systems providers. Moreover, the increasing interest in space exploration and commercialization offers opportunities for collaboration between governments, private space companies, and research institutions, leading to advancements in propulsion technology, space habitats, and resource utilization. Additionally, the emergence of small satellite constellations and mega-constellations for global connectivity and data services creates a need for cost-effective and reliable launch solutions, fostering innovation in small satellite launch vehicles and rideshare opportunities. Furthermore, the growing focus on hypersonic weapons and defense systems presents opportunities for companies specializing in hypersonic propulsion and missile defense technologies to cater to the evolving needs of military and defense sectors.

Restraints :

While the rocket and missile market presents numerous opportunities, it also faces several restraints that could impede its growth. One significant challenge is the high costs associated with research, development, and manufacturing of advanced rocket and missile systems, which may limit market accessibility for smaller companies and emerging economies. Additionally, stringent regulatory frameworks and export controls aimed at preventing the proliferation of weapons technology can hinder international collaboration and trade within the industry. Safety concerns and the potential environmental impact of rocket launches also pose challenges, prompting increased scrutiny and regulations surrounding launch operations. Moreover, geopolitical tensions and arms control agreements may restrict the development and deployment of certain missile systems, impacting market expansion opportunities in specific regions. Furthermore, the complexity and long development cycles of rocket and missile projects can lead to delays and cost overruns, posing financial risks for both government agencies and private companies involved in these endeavors.

Regional Information:

In North America, particularly the United States, the rocket and missile market is dominated by extensive government investment in defense and space exploration initiatives. The presence of established aerospace giants like SpaceX, Boeing, and Lockheed Martin underscores the region’s technological prowess and leadership in space innovation. Moreover, the growing commercialization of space, with companies like Blue Origin and Rocket Lab competing in the launch services sector, further solidifies North America’s position as a hub for aerospace advancement and entrepreneurship. However, regulatory hurdles and budget constraints may pose challenges to market expansion despite the region’s technological expertise.

• In Europe, the rocket and missile market is characterized by a mix of government-funded space agencies and private aerospace companies. Organizations like the European Space Agency (ESA) and companies such as Airbus Defence and Space and ArianeGroup play significant roles in satellite launches, space exploration missions, and defense projects. Collaboration among European nations through initiatives like the Ariane program has bolstered regional capabilities, although competition from other global players and geopolitical uncertainties may influence market dynamics. Additionally, efforts to foster indigenous launch capabilities, such as with the development of the Ariane 6 rocket, highlight Europe’s commitment to maintaining a competitive presence in the global space industry.

• In Asia-Pacific, countries like China and India are rapidly expanding their presence in the rocket and missile market, driven by ambitious space exploration programs and growing defense expenditures. China’s aggressive investments in space infrastructure, exemplified by the success of the Long March rocket series and lunar exploration missions, position the country as a formidable player in the global space race. Similarly, India’s Indian Space Research Organisation (ISRO) has made significant strides in satellite launches, with cost-effective solutions like the Polar Satellite Launch Vehicle (PSLV) garnering international attention.

Recent Developments:

In May 2023, Northrop Grumman Systems Corp., Huntsville, Alabama, was awarded a USD 244.0 million contract modification to a previously awarded indefinite-delivery/indefinite-quality contract (HQ014718D0005). The contract modification will continue the development, integration, testing and fielding of complex advanced discrimination techniques, operation and sustainment of complex modeling and simulation techniques and tools used to model Ballistic Missile Defense System capabilities.  The work will be performed in Huntsville, Alabama; Colorado Springs, Colorado; Boulder, Colorado; and Azusa, California, and is expected to be completed by March 4, 2026. There will be no funding obligated to associated task orders at time of award. The Missile Defense Agency, Huntsville, Alabama, is the contracting activity.

• In May 2023, The U.S. Army awarded the Javelin Joint Venture (JJV) an indefinite-delivery, indefinite-quantity (IDIQ) production contract with a total ceiling of USD 7.20 billion for fiscal years 2023 to 2026 for the Javelin weapon system and associated equipment and services. This award includes a base year with authorized funding to USD 1.02 billion and production ramp support to increase Javelin All Up Round (AUR) production to 3,960 per year by late 2026.

Key Market Players:

Northrop Grumman, Lockheed Martin, Boeing, SpaceX, Airbus Defence and Space, Blue Origin, Raytheon Technologies, BAE Systems, Thales Group, Roscosmos.

Frequently Asked Questions

1) What is the projected market value of the Rocket and Missile Market?

– The Rocket and Missile Market is expected to reach an estimated value of USD 77.4 billion in revenue by 2029. 

2) What is the estimated CAGR of the Rocket and Missile Market over the 2024 to 2029 forecast period?

– The CAGR is estimated to be 6.1% for the Rocket and Missile Market over the 2024 to 2029.

3) Who are the key players in the Rocket and Missile Market?

– Northrop Grumman, Lockheed Martin, Boeing, SpaceX, Airbus Defence and Space, Blue Origin, Raytheon Technologies, BAE Systems, Thales Group, Roscosmos.

4) What are the drivers for the Rocket and Missile Market?

– Geopolitical tensions and security threats drive investment in advanced defense systems, driving demand in military and defense sectors. Space exploration, technological advancements, and commercialization of space open new avenues for market growth and investment in launch vehicles and satellite deployment systems.

5) What are the restraints and challenges in the Rocket and Missile Market?

– The rocket and missile market faces challenges such as high costs, stringent regulations, safety concerns, geopolitical tensions, and long development cycles. These factors may limit market accessibility for smaller companies and emerging economies, hinder international collaboration, and pose financial risks for government agencies and private companies involved.

6) What are the key applications and offerings of the Rocket and Missile Market?

– The applications of rocket and missile technology are diverse and far-reaching. They encompass military defense, including precision-guided munitions and missile defense systems, as well as space exploration, satellite launches, and scientific missions. Additionally, rockets and missiles play a crucial role in commercial ventures such as satellite-based communication, navigation, and Earth observation services.

7) Which region is expected to drive the market for the forecast period?

– North America is expected to have the highest market growth from 2024 to 2029

Why Choose Us?

Insights into Market Trends: Global Market Studies reports provide valuable insights into market trends, including market size, segmentation, growth drivers, and market dynamics. This information helps clients make strategic decisions, such as product development, market positioning, and marketing strategies.

Competitor Analysis: Our reports provide detailed information about competitors, including their market share, product offerings, pricing, and competitive strategies. This data can be used to inform competitive strategies and to identify opportunities for growth and expansion.

Industry Forecasts: Our reports provide industry forecasts, which will inform your business strategies, such as investment decisions, production planning, and workforce planning. These forecasts can help you to prepare for future trends and to take advantage of growth opportunities.

Access to Industry Experts: Our solutions include contributions from industry experts, including analysts, consultants, and subject matter experts. This access to expert insights can be valuable for you to understand the market.

Time and Cost Savings: Our team at Global Market Studies can save you time and reduce the cost of conducting market research by providing comprehensive and up-to-date information in a single report, avoiding the need for additional market research efforts.

METHODOLOGY

At Global Market Studies, extensive research is done to create reports which have in-depth insights across all aspects of the market such as drivers, opportunities, challenges, restraints, market trends, regional insights, market segmentation, latest developments, key players for the forecast period. Multiple methods are used to derive both qualitative and quantitative information for the report:Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 1

PRIMARY RESEARCH

Through surveys and interviews, primary research is sourced mainly from experts from the core and related industry. It includes distributors, manufacturers, Directors, C-Level Executives and Managers, alliances certification organisations across various segments of the markets value chain. Both the supply-side and demand-side is interviewed.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 2

SECONDARY RESEARCH

Our sources of secondary research include Annual Reports, Journals, Press Releases, Company Websites, Paid Databases and our own Data Repository. They also include, investor presentations, certifies publications and articles by authorised regulatory bodies, trade directories and databases.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 3

MARKET SIZE ESTIMATION

After extensive secondary and primary research, both the Bottom-up and Top-down methods are used to analyse the data. In the Bottom-up Approach, Company revenues across multiple segments are gathered to derive the percentage split per market segment. From this the Segment wise market size is derived to give the Total Market Size. In the Top-down Approach the reverse method is used where the Total Market Size is first derived from primary sources and is split into Market Segment, Regional Split and so on.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 4Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 5

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 6

DATA TRIANGULATION:

All statistics are collected through extensive secondary research and verified by interviews conducted with supply-side and demand-side in the primary research to ensure that both primary and secondary data percentages, statistics and findings corroborate.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 7

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OVERVIEW

The Rocket and Missile Market is currently valued at USD 57.7 billion in 2024 and will be growing at a CAGR of 6.1% over the forecast period to reach an estimated USD 77.4 billion in revenue in 2029. The rocket and missile market is a dynamic and technologically advanced sector characterized by constant innovation and strategic developments. With applications spanning military defense, space exploration, and commercial ventures, this market is driven by the increasing demand for precision-guided munitions, satellite launches, and space exploration missions. Key players in the industry continually invest in research and development to enhance capabilities such as accuracy, range, and payload capacity while simultaneously focusing on cost-effectiveness and reliability. Geopolitical tensions and evolving security threats globally also contribute to the growth of this market as nations seek to bolster their defense capabilities and assert their presence in space. Furthermore, the emergence of private space companies alongside traditional government agencies adds a new dimension of competition and collaboration, fostering a vibrant and competitive landscape within the rocket and missile market.

Geopolitical tensions and increasing security threats worldwide propel nations to invest in advanced defense systems, including missile defense and offensive capabilities, driving demand in both military and defense sectors. Additionally, the expansion of space exploration initiatives by governments and private entities fuels the demand for launch vehicles and satellite deployment systems. Technological advancements, such as miniaturization, advanced propulsion systems, and increased automation, enhance the capabilities and efficiency of rockets and missiles, further stimulating market growth. Moreover, the growing commercialization of space, including satellite-based services, space tourism, and resource exploration, opens up new avenues for market expansion and investment.

Market Dynamics

Drivers:

Geopolitical tensions and increasing security threats worldwide propel nations to invest in advanced defense systems, including missile defense and offensive capabilities, driving demand in both military and defense sectors. Additionally, the expansion of space exploration initiatives by governments and private entities fuels the demand for launch vehicles and satellite deployment systems. Technological advancements, such as miniaturization, advanced propulsion systems, and increased automation, enhance the capabilities and efficiency of rockets and missiles, further stimulating market growth. Moreover, the growing commercialization of space, including satellite-based services, space tourism, and resource exploration, opens up new avenues for market expansion and investment.

Key Opportunities :

Key opportunities abound in the rocket and missile market, driven by various factors. The rising demand for satellite-based services, including communication, navigation, and Earth observation, presents a significant growth avenue for launch vehicle manufacturers and satellite deployment systems providers. Moreover, the increasing interest in space exploration and commercialization offers opportunities for collaboration between governments, private space companies, and research institutions, leading to advancements in propulsion technology, space habitats, and resource utilization. Additionally, the emergence of small satellite constellations and mega-constellations for global connectivity and data services creates a need for cost-effective and reliable launch solutions, fostering innovation in small satellite launch vehicles and rideshare opportunities. Furthermore, the growing focus on hypersonic weapons and defense systems presents opportunities for companies specializing in hypersonic propulsion and missile defense technologies to cater to the evolving needs of military and defense sectors.

Restraints :

While the rocket and missile market presents numerous opportunities, it also faces several restraints that could impede its growth. One significant challenge is the high costs associated with research, development, and manufacturing of advanced rocket and missile systems, which may limit market accessibility for smaller companies and emerging economies. Additionally, stringent regulatory frameworks and export controls aimed at preventing the proliferation of weapons technology can hinder international collaboration and trade within the industry. Safety concerns and the potential environmental impact of rocket launches also pose challenges, prompting increased scrutiny and regulations surrounding launch operations. Moreover, geopolitical tensions and arms control agreements may restrict the development and deployment of certain missile systems, impacting market expansion opportunities in specific regions. Furthermore, the complexity and long development cycles of rocket and missile projects can lead to delays and cost overruns, posing financial risks for both government agencies and private companies involved in these endeavors.

Regional Information:

In North America, particularly the United States, the rocket and missile market is dominated by extensive government investment in defense and space exploration initiatives. The presence of established aerospace giants like SpaceX, Boeing, and Lockheed Martin underscores the region’s technological prowess and leadership in space innovation. Moreover, the growing commercialization of space, with companies like Blue Origin and Rocket Lab competing in the launch services sector, further solidifies North America’s position as a hub for aerospace advancement and entrepreneurship. However, regulatory hurdles and budget constraints may pose challenges to market expansion despite the region’s technological expertise.

• In Europe, the rocket and missile market is characterized by a mix of government-funded space agencies and private aerospace companies. Organizations like the European Space Agency (ESA) and companies such as Airbus Defence and Space and ArianeGroup play significant roles in satellite launches, space exploration missions, and defense projects. Collaboration among European nations through initiatives like the Ariane program has bolstered regional capabilities, although competition from other global players and geopolitical uncertainties may influence market dynamics. Additionally, efforts to foster indigenous launch capabilities, such as with the development of the Ariane 6 rocket, highlight Europe’s commitment to maintaining a competitive presence in the global space industry.

• In Asia-Pacific, countries like China and India are rapidly expanding their presence in the rocket and missile market, driven by ambitious space exploration programs and growing defense expenditures. China’s aggressive investments in space infrastructure, exemplified by the success of the Long March rocket series and lunar exploration missions, position the country as a formidable player in the global space race. Similarly, India’s Indian Space Research Organisation (ISRO) has made significant strides in satellite launches, with cost-effective solutions like the Polar Satellite Launch Vehicle (PSLV) garnering international attention.

Recent Developments:

In May 2023, Northrop Grumman Systems Corp., Huntsville, Alabama, was awarded a USD 244.0 million contract modification to a previously awarded indefinite-delivery/indefinite-quality contract (HQ014718D0005). The contract modification will continue the development, integration, testing and fielding of complex advanced discrimination techniques, operation and sustainment of complex modeling and simulation techniques and tools used to model Ballistic Missile Defense System capabilities.  The work will be performed in Huntsville, Alabama; Colorado Springs, Colorado; Boulder, Colorado; and Azusa, California, and is expected to be completed by March 4, 2026. There will be no funding obligated to associated task orders at time of award. The Missile Defense Agency, Huntsville, Alabama, is the contracting activity.

• In May 2023, The U.S. Army awarded the Javelin Joint Venture (JJV) an indefinite-delivery, indefinite-quantity (IDIQ) production contract with a total ceiling of USD 7.20 billion for fiscal years 2023 to 2026 for the Javelin weapon system and associated equipment and services. This award includes a base year with authorized funding to USD 1.02 billion and production ramp support to increase Javelin All Up Round (AUR) production to 3,960 per year by late 2026.

Key Market Players:

Northrop Grumman, Lockheed Martin, Boeing, SpaceX, Airbus Defence and Space, Blue Origin, Raytheon Technologies, BAE Systems, Thales Group, Roscosmos.

Frequently Asked Questions

1) What is the projected market value of the Rocket and Missile Market?

– The Rocket and Missile Market is expected to reach an estimated value of USD 77.4 billion in revenue by 2029. 

2) What is the estimated CAGR of the Rocket and Missile Market over the 2024 to 2029 forecast period?

– The CAGR is estimated to be 6.1% for the Rocket and Missile Market over the 2024 to 2029.

3) Who are the key players in the Rocket and Missile Market?

– Northrop Grumman, Lockheed Martin, Boeing, SpaceX, Airbus Defence and Space, Blue Origin, Raytheon Technologies, BAE Systems, Thales Group, Roscosmos.

4) What are the drivers for the Rocket and Missile Market?

– Geopolitical tensions and security threats drive investment in advanced defense systems, driving demand in military and defense sectors. Space exploration, technological advancements, and commercialization of space open new avenues for market growth and investment in launch vehicles and satellite deployment systems.

5) What are the restraints and challenges in the Rocket and Missile Market?

– The rocket and missile market faces challenges such as high costs, stringent regulations, safety concerns, geopolitical tensions, and long development cycles. These factors may limit market accessibility for smaller companies and emerging economies, hinder international collaboration, and pose financial risks for government agencies and private companies involved.

6) What are the key applications and offerings of the Rocket and Missile Market?

– The applications of rocket and missile technology are diverse and far-reaching. They encompass military defense, including precision-guided munitions and missile defense systems, as well as space exploration, satellite launches, and scientific missions. Additionally, rockets and missiles play a crucial role in commercial ventures such as satellite-based communication, navigation, and Earth observation services.

7) Which region is expected to drive the market for the forecast period?

– North America is expected to have the highest market growth from 2024 to 2029

Why Choose Us?

Insights into Market Trends: Global Market Studies reports provide valuable insights into market trends, including market size, segmentation, growth drivers, and market dynamics. This information helps clients make strategic decisions, such as product development, market positioning, and marketing strategies.

Competitor Analysis: Our reports provide detailed information about competitors, including their market share, product offerings, pricing, and competitive strategies. This data can be used to inform competitive strategies and to identify opportunities for growth and expansion.

Industry Forecasts: Our reports provide industry forecasts, which will inform your business strategies, such as investment decisions, production planning, and workforce planning. These forecasts can help you to prepare for future trends and to take advantage of growth opportunities.

Access to Industry Experts: Our solutions include contributions from industry experts, including analysts, consultants, and subject matter experts. This access to expert insights can be valuable for you to understand the market.

Time and Cost Savings: Our team at Global Market Studies can save you time and reduce the cost of conducting market research by providing comprehensive and up-to-date information in a single report, avoiding the need for additional market research efforts.

METHODOLOGY

At Global Market Studies, extensive research is done to create reports which have in-depth insights across all aspects of the market such as drivers, opportunities, challenges, restraints, market trends, regional insights, market segmentation, latest developments, key players for the forecast period. Multiple methods are used to derive both qualitative and quantitative information for the report:Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 1

PRIMARY RESEARCH

Through surveys and interviews, primary research is sourced mainly from experts from the core and related industry. It includes distributors, manufacturers, Directors, C-Level Executives and Managers, alliances certification organisations across various segments of the markets value chain. Both the supply-side and demand-side is interviewed.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 2

SECONDARY RESEARCH

Our sources of secondary research include Annual Reports, Journals, Press Releases, Company Websites, Paid Databases and our own Data Repository. They also include, investor presentations, certifies publications and articles by authorised regulatory bodies, trade directories and databases.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 3

MARKET SIZE ESTIMATION

After extensive secondary and primary research, both the Bottom-up and Top-down methods are used to analyse the data. In the Bottom-up Approach, Company revenues across multiple segments are gathered to derive the percentage split per market segment. From this the Segment wise market size is derived to give the Total Market Size. In the Top-down Approach the reverse method is used where the Total Market Size is first derived from primary sources and is split into Market Segment, Regional Split and so on.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 4Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 5

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 6

DATA TRIANGULATION:

All statistics are collected through extensive secondary research and verified by interviews conducted with supply-side and demand-side in the primary research to ensure that both primary and secondary data percentages, statistics and findings corroborate.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 7

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