If you have an active sensor capable of spotting missiles, you'll accumulate a tracking bonus for as long as you observe them up to the maximum. This is added to to-hit percentages to improve your chances of taking the missile down, particularly with weaponry that has inferior tracking/agility compared with their target's speed. This bonus can be displayed on the f3 system map if you find whichever checkbox it is under.
In general it is an incentive to overbuild your anti-missile sensors.