Missile Industry - Regional Synopsis
On the basis of regional analysis, the missile market is segmented into five major region including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is estimated to account for largest revenue share by 2037, attributed to long term programs for defense systems, continuous demand from US military along with increased investments in technologically advanced missile systems. Further, geopolitical tensions and rising violence in the region is contributing towards the improvements in the defense missile systems. The Asia Pacific region is estimated to witness highest growth owing to the increased focus of china to spend heavily on ballistic missile related technologies to prevent attacks into Chinese territory and Indian government for undertaking Ballistic Missile Defense Program along with the deployment of multi layered ballistic missile defense systems to protect from rising threats. In addition, this region is the largest spender in market owing to the bulk spending to bridge military capabilities gap.
