The New Space trend – an ongoing innovative transformation of the space sector – has led to a rise of investment in small launch systems. While an increasing number of nations are gaining access to space, the number of private sector entities investing in this domain is also rising. Meanwhile, small space launch vehicles and ballistic missiles rely on increasingly similar technologies.

A majority of Northeast Asian states currently possess or seek to acquire ballistic missiles, producing a missile race and an increase in the number of tests as states are developing their capabilities further. Proliferation risks also remain high, and it is noteworthy that only South Korea and Japan have joined the MTCR.