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I have a pleasure to recall that, demand for missiles is anticipated to be driven by the ever increasing threat of radical institutions (both state and non-state) with access to weapons of mass destruction. The Asia Pacific region is the largest spender in the domain with China, India, and South Korea anticipated accounting for the bulk of spending.
In terms of categories, missile defense systems (MDS) is expected to account for the highest proportion of spending, followed by markets for surface-to-air (SAM), surface-to-surface (SS), air-to-surface (AS), air-to-air (AA), anti-tank (AT) and anti-ship (AS) missiles. The market for missile defense systems is anticipated to be the largest category primarily due to the ongoing procurement of missile and air defense systems by countries of the Asia Pacific, North America and European regions.
According to Research and Markets, Global Missiles and Missile Defense Systems (MMDS) market is valued at US$33.1 billion in 2017, and is projected grow at a CAGR of 2.18%, to value US$41.0 billion by 2027.