The valuation of the global market for nuclear missiles and bombs isexpected to cross $126 billion by the end of this decade, Allied MarketResearch, an international market research agency has claimed.
According to a recent report, the valuation of the global market fornuclear arms stood at $73 billion at the end of 2020, meaning the market isexpected to surge 72.6% by 2030.
The demand for small nuclear warheads for land, water, and air-launchedballistic missiles would drive the growth of the international nuclearmarket. Water-launched nuclear ballistic missiles accounted for a quarterof the international nuclear market in the previous decade.
While North America dominated the global nuclear arms market in theprevious decade, Asia-Pacific is set to take control of this marketprimarily due to different initiatives of Pakistan and China to furthercement their nuclear capabilities.
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The report from the Allied Market Research comes at a time when numerouskey international and regional stakeholders have increased their defensebudgets amid Russian military aggression against Ukraine.
The report notes that global defense spending saw a dip during theCoronavirus pandemic as almost all the countries were forced to redirectsignificant funding to their healthcare systems.link
