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The Rocket Launcher is a recurring weapon in the Resident Evil series. It is a large, shoulder-fired weapon that uses powerful, high-explosive rockets. These weapons inflict massive damage to almost anything - including the player if they're caught in the blast. However, they tend to be cumbersome, somewhat slow to aim, and very low on ammunition. Rocket Launchers are indeed the most powerful weapons that the player can carry.
In the Resident Evil series, the Rocket Launcher is often acquired at the end of the games to use on the final boss. However, in some games, these weapons can be bought using money. Typical Resident Evil rocket launchers have only one or two rockets; after that they become useless, as no additional rockets are available.
However, the rocket launchers can usually be unlocked and will come with infinite ammo which can be used throughout the game.