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The capturability of a realistic generalized true proportional navigation (RGTPN) guidance law, against a nonmaneuvering target, is analyzed. The RGTPN law is obtained by relaxing the somewhat unrealistic assumption of constant closing velocity, made in all earlier studies on generalized true proportional navigation (GTPN), and incorporating the actual time-varying value in the guidance law. Closed-form solutions for the complete capture region of RGTPN is obtained in terms of both zero and acceptable non-zero miss distances. It is shown that the capture region of RGTPN in the initial relative velocity space is significantly smaller than that of GTPN, for reasonable values of navigation constant (N) and angular direction (η) of the missile commanded latax. However, for certain values of N and η, capturability of RGTPN is found to be better. It is also shown that if in one of the versions of GTPN, which uses constant values of both the closing velocity and the line-of-sight (LOS) angular velocity in the guidance law the corresponding realistic time-varying quantities are used, the capture region actually expands to cover the whole of the initial relative velocity space. A number of examples are given to compare the capture performance of RGTPN with other versions of the GTPN guidance laws.