Market Size of APAC Ballistic Missile Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
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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.
