No. The games is a WW2 flight sim, so presumably the designers never intended it to be expanded to the modern era. It is sort of possible to simulate guided missiles if you download the right missiles (the ones set up as aircraft) because you can spawn them in a mission and have them fly to intercept, but they won't guide to contact, and that is only available for ai aircraft (you can't do it from your plane).

CFS2 has a lot of gaps, like not being able to occupy turrets. One glaring failure that would make a big difference to the game is an acquisition variable so that you are harder to spot in bad weather or at night. AS radar that works. We can choose to turn off the little yellow box, the range and ID and the 'cone', but even then an anemy a/c will still shoot at you from 1000yds at night in heavy clouds and hit very well. It's for this reason I don't bother much with night fighting missions or with any combat after Korea. There's still enough fun with what is left.

Piers

I once had a self installing file called the CFS2 Ultimate Weapons Pack which when I ran it put a heap of missile files in my aircraft folder. I never used them so I deleted them all and got rid of the pack. Afraid I don't remember where I got it from.
There seems to be some kind of missile pack in the miscellaneous section on this site for modern russian missiles. It may give you a clue as to how they work.

P