In Rust, rockets are the ammunition for rocket launchers, which fire aoe damage that can hit up to 4 walls at once. This type of ammunition is particularly effective against buildings.
In terms of trajectory, rockets are launched forward with a considerable speed upon firing. However, the trajectory eventually falls off due to the in-game gravity effect.
In fact, the rockets is currently the best tool for raiding and building destruction. Rockets are also deadly against humans due to its high damage rates and aoe range.