What's 'Explosive Replicator'?

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"Missile based weapons have a 50 percent chance of not using a missile."
What benefits does it add?
Does it mean that enemies missiles have 50% to fail?
Does it effect my ships missiles also?
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Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
Images: Rakicevic Nenad, Designecologist, Peter Spencer, Capture Blinks