China to Become World's Largest Missile Producer

Two of China's major missile producers — China North Industries Corporation and China Precision Machinery Import-Export Corporation — are expected to turn out 50,000 ballistic missiles for the nation, according to a report in the latest issue of the Aviation Week & Space Technology, a magazine with ties to the US military.

To win a potential territorial conflict against Japan over islands in the East China Sea, the Aviation Week & Space Technology stated that China is currently targeting Tokyo with around 1,000 missiles. However, this number of missiles is only a fraction of China's total production capacity, the report said, adding that the missiles are designed and produced to enable China to subdue its enemy without real fighting.

In next five years, China is likely to become the world's largest missile producer, US military analysts claim. China North Industries Corporation will lead to become the largest missile manufacturer and is expected to produce around 29,992 missiles, taking a 15% world market share. US defense contractor Raytheon is expected to rank second, producing 23,744 missiles and taking a world market share of 12%, the analysts said.

As for China Precision Machinery Import-Export Corporation, it is expected to rank third with 11,232 missiles and a share of 6%, according to the report. [via]