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 |
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APAC Missiles & 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.
