APAC Ballistic Missile Market Size (2024 - 2029)

The APAC ballistic missile market is projected to experience growth over the forecast period, driven by increasing defense expenditures, particularly in China, due to regional territorial disputes and strategic tensions. The market's expansion is supported by advancements in missile guidance, accuracy, and flexibility, which enhance their military effectiveness and usage. However, challenges such as long research and development cycles may pose risks to market participants, potentially impacting their production capabilities and market contribution.

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Market Size of APAC Ballistic Missile Industry

APAC Ballistic Missile Market Summary
Study Period 2019-2029
Base Year For Estimation 2023
Market Size (2024) USD 2.02 Billion
Market Size (2029) USD 2.47 Billion
CAGR (2024 - 2029) 4.06 %
Market Concentration High

Major Players

APAC Ballistic Missile Market Major Players

*Disclaimer: Major Players sorted in no particular order

APAC Ballistic Missile Market Analysis

The APAC Ballistic Missile Market size is estimated at USD 2.02 billion in 2024, and is expected to reach USD 2.47 billion by 2029, growing at a CAGR of 4.06% during the forecast period (2024-2029).

  • During 2022, China's defense expenditure witnessed a 4.3% YoY growth and amounted to USD 292 billion. The rise in defense expenditure was due to growth in territorial dispute order issues with India, increasing face-offs with the US in the disputed South China Sea, and claims over Taiwan are some of the reasons for China to aggressively modernize its weaponry and equipment.
  • A long R&D cycle may expose the market players to liquidity crunch or macroeconomic downturns. This may deleteriously affect their production capabilities and hence restrict their contribution to the market.
  • The improvement in the guidance, accuracy, and flexibility of ballistic missiles has reinforced their effectiveness in military operations, thereby enhancing their appeal, prevalence, and usage. The development of technologies aimed at improving accuracy has involved the monitoring of flight paths through various methods, including terrestrial radar, optical sensors, radar imaging, and navigation and positioning satellites.

APAC Ballistic Missile Industry Segmentation

A ballistic missile is a rocket-propelled self-guided strategic weapon system, that uses projectile motion to deliver a warhead on the target. Typically, these missiles are segregated by range as short, medium, intermediate, and intercontinental ballistic missiles. Short-range ballistic missiles are missiles that have a range between about 150 km and 300 km. Medium-range ballistic missiles have a range between about 300 km and 3,500 km. Intermediate-range ballistic missiles have a range between about 3,500 km and 5,500 km. Intercontinental ballistic missiles have a range greater than 5,500 km.

The Asia-Pacific ballistic missile market is segmented based on launch mode and range. By launch mode, the market has been divided into air, surface, and sub-sea. By range, the market has been divided into short-range, medium-range, long-range, intermediate-range, and intercontinental. The report also offers the market size and forecasts for four countries across the region. 

For each segment, the market size is provided in terms of value (USD).

Launch Mode
Surface
Surface-to-Surface
Surface-to-Air
Air
Air-to-Surface
Air-to-Air
Sub-sea
Subsea-to-Air
Range
Short-Range
Medium-Range
Intermediate-Range
Intercontinental
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APAC Ballistic Missile Market Size Summary

The APAC ballistic missile market is poised for growth, driven by increasing defense expenditures and advancements in missile technology. The market is characterized by a focus on enhancing the guidance, accuracy, and flexibility of ballistic missiles, which have bolstered their effectiveness in military operations. This has led to a heightened demand for intercontinental ballistic missiles (ICBMs), favored for their long-range capabilities. Countries in the region, including China, North Korea, and India, are investing heavily in the development and modernization of their missile systems. China's defense spending is influenced by territorial disputes and strategic tensions, while North Korea continues to develop ICBMs despite international sanctions. India, as a significant defense spender, is also prioritizing indigenous missile development, further contributing to the market's expansion.

The market landscape is consolidated, with a few key players like Mitsubishi Heavy Industries, Kawasaki Heavy Industries, and Bharat Dynamics Limited holding substantial shares. These companies are actively pursuing advanced missile technologies and forming partnerships with tech firms to enhance their offerings. Government investments in state-owned enterprises are supporting the development of sophisticated missile systems, thereby strengthening the market position of regional players. The ongoing testing and development activities, such as North Korea's solid-fuel engine tests and India's Agni-V missile trials, underscore the dynamic nature of the market. These developments are expected to create new opportunities for market entrants and drive growth throughout the forecast period.

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APAC Ballistic Missile Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Launch Mode

      1. 2.1.1 Surface

        1. 2.1.1.1 Surface-to-Surface

        2. 2.1.1.2 Surface-to-Air

      2. 2.1.2 Air

        1. 2.1.2.1 Air-to-Surface

        2. 2.1.2.2 Air-to-Air

      3. 2.1.3 Sub-sea

        1. 2.1.3.1 Subsea-to-Air

    2. 2.2 Range

      1. 2.2.1 Short-Range

      2. 2.2.2 Medium-Range

      3. 2.2.3 Intermediate-Range

      4. 2.2.4 Intercontinental

APAC Ballistic Missile Market Size FAQs

The APAC Ballistic Missile Market size is expected to reach USD 2.02 billion in 2024 and grow at a CAGR of 4.06% to reach USD 2.47 billion by 2029.

In 2024, the APAC Ballistic Missile Market size is expected to reach USD 2.02 billion.

APAC Ballistic Missile Market Report Snapshots

APAC Ballistic Missile Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)