| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 0.63 Billion |
| Market Size (2030) | USD 1.02 Billion |
| CAGR (2025 - 2030) | 9.90 % |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Cruise Missile Market Analysis
The Asia-Pacific Cruise Missile Market size is estimated at USD 0.63 billion in 2025, and is expected to reach USD 1.02 billion by 2030, at a CAGR of 9.90% during the forecast period (2025-2030).
Asia-Pacific remains a significant region for military conflicts, with increasing territorial disputes prompting countries to acquire advanced cruise missiles for defense capabilities. The expanding defense budgets across several regional nations support the development and acquisition of new cruise missile systems, contributing to market growth.
The increasing role of missiles in modern warfare has necessitated governments to maintain substantial cruise missile inventories. Recent technological developments have enhanced cruise missiles with autonomous navigation, non-ballistic trajectory capabilities, low-altitude operation, and hypersonic and supersonic speeds. These improvements are expected to drive significant market expansion during the forecast period.
The Asia-Pacific cruise missile market faces several obstacles, including technical challenges in developing advanced missile defense and reliable guidance systems. The market growth is further constrained by regulatory factors, such as international arms control agreements and export restrictions, which affect industry operations.
Asia-Pacific Cruise Missile Market Trends
Long-Range Missiles Projected to Dominate the Market During the Forecast Period
Long-range missiles' manufacturing and procurement costs exceed those of other missile types due to their extended travel distance requirements and advanced warhead capabilities. The Asia-Pacific region shows increasing demand for long-range missiles, primarily driven by the need to protect extensive land-based borders from neighboring threats.
Countries including China, India, Japan, and South Korea continue to develop long-range missile capabilities for their military forces. The escalation of cross-border conflicts and political tensions, particularly between China-India and China-Taiwan, has prompted various Asian nations to strengthen their defense capabilities. The SIPRI Report 2023 identifies China and India as the second and fourth largest global defense spenders, with a combined defense budget of USD 379.6 billion.
These increased defense investments support the procurement of advanced long-range missiles and modern weapon systems. In November 2024, the Defence Research and Development Organisation (DRDO) completed the initial flight test of the Long Range Land Attack Cruise Missile (LRLACM) from the Integrated Test Range (ITR) in Chandipur, Odisha, using a mobile articulated launcher.
Additionally, in August 2023, Australia announced plans to acquire Tomahawk cruise missiles to enhance its long-range defense capabilities. The procurement includes a USD 1.1 billion purchase of over 200 Tomahawk cruise missiles from the US for the Royal Australian Navy's Hobart-class destroyers, featuring a strike range of 1,500km. These developments indicate continued growth potential for the long-range missile segment during the forecast period.
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China to Dominate Market Share During the Forecast Period
China ranks among the world's largest defense spenders, with an approximate expenditure of USD 296 billion in 2023, according to SIPRI. The country maintains one of the world's largest inventories of cruise and ballistic missiles, positioning itself among the top 5 countries globally in missile capabilities.
Regional tensions, particularly in the South China Sea, have driven China to develop and deploy an advanced cruise missile arsenal. The People's Liberation Army (PLA) serves as a primary user of these missile systems. China's manufacturing capabilities span across all cruise missile categories, with several designs influenced by Western systems such as Exocet, Harpoon, and Tomahawk missiles. The country's arsenal includes imported Russian systems, notably the supersonic 3M80E Moskit / SS-N-22 Sunburn and the 3M54/3M14 Klub/Kalibr / SS-N-27 Sizzler missiles.
China has enhanced its strategic capabilities through long-range bombers equipped with supersonic cruise missiles. The H-6N, the most recent variant of China's H-6 strategic bomber, incorporates the CJ-100 missile, extending its strike range to 6,000 km (3,728 miles). The country has expanded its air-launched cruise missile capabilities, developing systems such as the CJ-20, an air-launched version of the Changjian-10 (CJ-10) land-attack cruise missile (LACM) capable of carrying conventional and nuclear warheads.
At the 15th Airshow China in November 2024, China demonstrated its missile technology advancement by showcasing various systems, including the CM-98, YJ-12E, and YJ-18E. The continuous development and integration of diverse cruise missile variants into China's arsenal indicates potential market growth for cruise missiles in China during the forecast period.
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Asia-Pacific Cruise Missile Industry Overview
The Asia Pacific cruise missile market exhibits a semi-consolidated structure, with a few key players controlling significant market shares. Major companies include the Defence Research and Development Organisation (DRDO), IAI, Mitsubishi Heavy Industries, Ltd., China Aerospace Science and Industry Corporation, and Kongsberg Gruppen ASA.
Regional powers such as China, India, and South Korea have prioritized indigenous missile development due to challenges in interoperability between countries' missile systems and defense networks. International collaboration has emerged as a strategy to develop advanced cruise missile systems. A notable example is the BrahMos missile, jointly developed by India's DRDO and Russia's NPOM. BrahMos, recognized as one of the world's fastest supersonic cruise missiles, features Land-Attack and Anti-Ship variants. The Indian Navy (IN) and Indian Army (IA) have successfully inducted and operationalized the BRAHMOS weapon system.
Asia-Pacific Cruise Missile Market Leaders
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Kongsberg Gruppen ASA
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China Aerospace Science and Industry Corporation
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Defence Research and Development Organisation (DRDO)
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IAI
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Mitsubishi Heavy Industries, Ltd.
- *Disclaimer: Major Players sorted in no particular order
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Asia-Pacific Cruise Missile Market News
- April 2024: Taiwan announced plans to deploy a long-range variant of the Hsiung Feng II land-attack cruise missile (LACM), designated as Hsiung Sheng. This missile procurement is part of a USD 15.05 billion special budget allocated by Taiwan's Ministry of National Defense (MND) for advanced military weapons acquisition between 2022 and 2026.
- May 2024: BrahMos Aerospace announced plans to export its supersonic cruise missiles to Southeast Asian countries during the Defence Services Asia (DSA) 2024 exhibition in Kuala Lumpur.
Asia-Pacific Cruise Missile Industry Segmentation
Cruise missiles are self-propelled, guided weapons that travel at supersonic or subsonic speeds to strike targets on land, sea, or air. Due to their precision targeting capabilities and ability to penetrate defense systems, cruise missiles are essential components of modern military operations.
The Asia-Pacific cruise missile market is segmented based on launch platform, range, and geography. By launch platform, the market is segmented into air, sea, and land. By range, the market is classified into short-range missiles, medium-range missiles, and long-range missiles. Short-range missiles have a range of less than 300 km, medium-range missiles range between 300 km and 1,000 km, and long-range missiles have a range exceeding 1,000 km. The report also offers the market size and forecasts for five countries across the region. For each segment, the market sizing and forecasts were made based on revenue (USD).
| Launch Platform | Air |
| Sea | |
| Land | |
| Range | Short-range Missiles |
| Medium-range Missiles | |
| Long-range Missiles | |
| Geography | China |
| India | |
| South Korea | |
| Japan | |
| Australia | |
| Rest of Asia-Pacific |
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Asia-Pacific Cruise Missile Market Research Faqs
How big is the Asia-Pacific Cruise Missile Market?
The Asia-Pacific Cruise Missile Market size is expected to reach USD 0.63 billion in 2025 and grow at a CAGR of 9.90% to reach USD 1.02 billion by 2030.
What is the current Asia-Pacific Cruise Missile Market size?
In 2025, the Asia-Pacific Cruise Missile Market size is expected to reach USD 0.63 billion.
Who are the key players in Asia-Pacific Cruise Missile Market?
Kongsberg Gruppen ASA, China Aerospace Science and Industry Corporation, Defence Research and Development Organisation (DRDO), IAI and Mitsubishi Heavy Industries, Ltd. are the major companies operating in the Asia-Pacific Cruise Missile Market.
What years does this Asia-Pacific Cruise Missile Market cover, and what was the market size in 2024?
In 2024, the Asia-Pacific Cruise Missile Market size was estimated at USD 0.57 billion. The report covers the Asia-Pacific Cruise Missile Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Cruise Missile Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Asia-Pacific Cruise Missile Industry Report
Statistics for the 2025 Asia-Pacific Cruise Missile market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Cruise Missile analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
