PORTLAND, Ore. – Developing and advanced countries interested in boosting weapons capability are driving more investment in the defense sector, resulting in a growing market for global missile guidance systems, according to the Allied Market Research firm.
“This is attributed to the increase in territorial conflicts among countries,” the firm said in a recent press release. “However, variation in raw supply costs and high capital investment are the main restraints in the global missile guidance system market.”
The firm said high capital investment means that systems are less affordable for underdeveloped countries, limiting market expansion. But the firm also noted that the defense sector is bound to experience technological advances, which could create lucrative growth opportunities for the market.