Switzerland, militarily neutral, ordered five Patriot ground-to-air missile systems in 2022, which were to be delivered between 2026 and 2028.
US authorities have delayed the deliveries as resources have been reallocated because of the Ukraine conflict and now the US-Israeli war with Iran.
The delay could be between five and seven years.
The government said Wednesday that it was now looking at the SAMP/T NG missile, made by French-led European consortium, and Israel's Barak MX.
A South Korean system has been rejected.
Amid heightening international tensions, the government has said it will spend more than 70 billion francs up to 2039 on reinforcing its defences.
It said in a statement that "abandoning the purchase of the Patriot system without a replacement is not an option in the current situation."
But it added that it was "important" for the country to "quickly acquire a second system that meets its needs in light of the threat, allows for an expansion of the area to be protected, and reduces dependence on a single supplier or a single supply chain."
It also said that "aspects relevant to foreign policy and economic policy" would be taken into account alongside technical and military considerations.
The SAMP/T NG is made by a joint venture between French firm Thales and the MBDA European arms consortium.
The Barak MX is made by Israel Aerospace Industries.
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