Market Size of Asia-Pacific Missiles and Missile Defense Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Missiles and Missile Defense Systems Market Analysis
The Asia-Pacific missiles and missile defense systems market is anticipated to register a CAGR of over 10% during the forecast period.
The missile and missile defense market in Asia Pacific witnessed a mild impact due to the COVID-19 pandemic. Increased defense expenditure and rising procurement contracts of advanced missile systems from the defense forces helped to drive the market during the pandemic period.
Asia-Pacific has been one of the global hotspots for military conflicts. The increasing number of territorial issues in the region propelled the countries to procure advanced missiles and missile defense systems to strengthen their defenses against potential adversaries. The growth in defense budgets of several nations in the region has also facilitated the procurement of newer missiles and missile defense systems, thereby, driving the growth of the market.
Asia-Pacific Missiles and Missile Defense Systems Industry Segmentation
Missiles and missile defense systems include weapons and technologies used for the detection, tracking, interception, and destruction of attacking missiles.
The Asia Pacific missiles and missile defense systems market is segmented by range and type. By range, the market is segmented into short, medium, intermediate, and intercontinental. By type, the market is segmented into missile defense systems, air-to-air missiles, air-to-surface missiles, surface-to-surface missiles, and surface-to-air missiles. The report offers the market size and forecasts by value (USD billion) for all the above segments.
| Range | |
| Short | |
| Medium | |
| Intermediate | |
| Intercontinental |
| Type | |
| Missile Defense Systems | |
| Air-to-air missiles | |
| Air-to-surface missiles | |
| Surface-to-surface missiles | |
| Surface-to-air missiles |
| Geography | |||||||
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Asia-Pacific Missiles and Missile Defense Systems Market Size Summary
The Asia-Pacific missiles and missile defense systems market is poised for significant growth, driven by increased defense expenditures and the procurement of advanced missile systems. The region, a hotspot for military conflicts, has seen countries ramp up their defense capabilities in response to territorial disputes and potential threats. This has led to a surge in the acquisition of intercontinental missiles, which are expected to dominate the market due to their strategic importance and the higher costs associated with their development and procurement. Nations such as China, India, Japan, North Korea, and South Korea are at the forefront of this development, with China being a major player due to its substantial defense budget and extensive missile inventory. The focus on developing submarine-launched ballistic missiles further underscores the region's commitment to enhancing its missile capabilities.
The market landscape is characterized by a few key players, with publicly owned companies like the Defense Research and Development Organization (DRDO) in India and China Aerospace Science and Industry Corporation leading the charge. These companies have been instrumental in driving indigenous missile development, which poses challenges for foreign entities seeking to enter the market. The consolidation of the market is evident as these players hold significant shares, supported by their advanced technological capabilities and strategic investments. China's dominance is further bolstered by its ongoing development and testing of sophisticated missile systems, aimed at countering regional threats and maintaining its strategic edge. The interplay of these factors is expected to sustain the market's growth trajectory in the coming years.
Asia-Pacific Missiles and Missile Defense Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Range
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2.1.1 Short
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2.1.2 Medium
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2.1.3 Intermediate
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2.1.4 Intercontinental
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2.2 Type
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2.2.1 Missile Defense Systems
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2.2.2 Air-to-air missiles
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2.2.3 Air-to-surface missiles
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2.2.4 Surface-to-surface missiles
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2.2.5 Surface-to-air missiles
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 South Korea
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2.3.1.4 Japan
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2.3.1.5 Rest of Asia-Pacific
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Asia-Pacific Missiles and Missile Defense Systems Market Size FAQs
What is the current Asia-Pacific Missiles and Missile Defense Systems Market size?
The Asia-Pacific Missiles and Missile Defense Systems Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Missiles and Missile Defense Systems Market?
Defence Research and Development Organisation (DRDO), China Aerospace Science and Industry Corporation, JSC Tactical Missiles Corporation, Israel Aerospace Industries and Mitsubishi Heavy Industries, Ltd. are the major companies operating in the Asia-Pacific Missiles and Missile Defense Systems Market.
