A new Reportlinker report predicts the global missile and missile defense systems market will reach $36.0 billion by 2025 from $23.7 billion in 2015.
The report analyzes the factors that drive the demand for missile and missile defense systems tools, market trends and challenges faced by industry and also presents a market forecast for the next decade, Reportlinker said Wednesday.
Reportlinker noted that the increasing threat of weapons of mass destruction drives the demand for missiles and missile defense systems.
The Asia Pacific region will represent 39 percent of the global missile and missile defense systems market, followed by North America and Europe, according to the report.
Reportlinker said the air defense systems segment will account for 40 percent of the market and the surface-to-air missiles 17 percent.
Other missile defense systems include surface-to-surface, air-to-surface, air-to-air, anti-tank and anti-ship missiles.