Global Smart Weapons Market, By Product (Missiles, Munitions, Guided Projectiles, Guided Rockets, Precision Guided Firearms), Technology (Laser, Radar, GPS, Infrared, Others), Platform (Air, Land, Naval), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Smart Weapons Market
The smart weapons market is expected to witness market growth at a rate of 6.10% in the forecast period of 2021 to 2028 and is expected to reach USD 21,306.18 million by 2028. Data Bridge Market Research report on smart weapons market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The penetration of modernization is escalating the growth of smart weapons market.
Smart weapons refer to the type of weapons that enable the user to hit the target with higher accuracy with the help of guidance system. Various missiles such as air-to-ground missiles and guided weapons that are equipped with laser or satellite guidance systems are categorized under the smart weapons. They use navigation satellites for confirming the target.
The rapid integration of various navigation and communication technologies in weapon systems, acts as one of the major factors driving the growth of smart weapons market. The availability and innovation of different types of smart weapons such as air-to-ground missiles and guided weapons because of the modernization in weapon manufacturing technology and increase in need for precision munitions accelerate the market growth. The change in the nature of warfare, increase in the need to reduce logistics burden along with demand for high precision arms and ammunition further influence the market. Additionally, modernization and replenishment programs, rise in cost of maintenance and aging military equipment and increase in need to reduce security damage positively affect the smart weapons market. Furthermore, standardization of weapons and growing risk from terrorism extends profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, presence of arms transfers regulations and reducing defense budgets of advanced economies are the factors expected to obstruct the market growth. The issues with the weapon integration are projected to challenge the smart weapons market in the forecast period of 2021-2028.
This smart weapons market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart weapons market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Smart Weapons Market Scope and Market Size
The smart weapons market is segmented on the basis of product, technology and platform. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the smart weapons market is segmented into missiles, munitions, guided projectiles, guided rockets and precision guided firearms. Missiles are further segmented into anti-tank missiles & standoff missiles, air-to-air & air-to–surface missile and anti-ship & anti-submarine missile. Munitions are further segmented into guided bombs and target pods. Guided projectiles are further segmented into artillery shells and mortar rounds. Guided rockets are further segmented into anti-tank & tactical rockets, air-to-air & air-to-surface and anti-submarine. Precision guided firearms are further segmented into small smart weapons, shoulder fired weapons and smart guns.
- On the basis of technology, the smart weapons market is segmented into laser, radar, GPS, infrared and others. Radar is further segmented into active homing and passive homing. Infrared is further segmented into IIR homing and IR homing. Others are further segmented into wire-guided, satellite, optical and micro computing.
- On the basis of platform, the smart weapons market is segmented into air, land and naval.
Global Smart Weapons Market Country Level Analysis
The smart weapons market is analyzed and market size, volume information is provided by country, product, technology and platform outlook as referenced above.
The countries covered in the global smart weapons market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the smart weapons market because of the high defense budget and favorable regulatory scenario within the region. Asia-Pacific is expected to witness the fastest growth during the forecast period of 2021 to 2028 because of the surge in investment in the defense sector and rise in terrorism activities in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Weapons Market Share Analysis
The smart weapons market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart weapons market.
The major players covered in the smart weapons market report are Lockheed Martin Corporation., Raytheon Technologies Corporation, MBDA Inc., General Dynamics Corporation, BAE Systems., Boeing., L3Harris Technologies, Inc., Thales Group, Textron Inc., Rheinmetall AG, Alliant Techsystems, IAI, Denel Dynamics, Northrop Grumman., Saab, Airbus S.A.S., Aselsan, Rafael Advanced Defense Systems Ltd., Diehl Stiftung & Co. KG, and Leonardo among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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