According to the Stockholm International Peace Research Institute, missile sales have become number 2 in the US defense sector. And a handful of US companies dominate production.
As with aircraft, missile sales are based on international alliances and treaties. And those sales can become hot button issues, like a recent proposal to sell Boeing’s Harpoon missile to Taiwan or a failed offer to sell the Raytheon-made Patriot missile system to Turkey.
As defense technology advances, cheaper alternatives such as smaller guided missiles and loitering ammunition could change the dynamics of the battlefield.
“We have entered a kind of new rocket age,” said Tom Karako, Senior Fellow at the Center for Strategic and International Studies.
Check out the video above to find out how the US missile business works, how much money it makes for American defense companies, and what happens to the future of the industry.