Smart Weapons Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Weapon Type (Missiles, Munitions, Guided Projectiles, Guided Rockets, Guided Firearms, Directed Energy Weapons), By Platform (Air, Land, Naval), By Technology (Laser, Infrared, Radar, GPS, Others), and By Region
Published Date: January - 2025 | Publisher: MIR | No of Pages: 280 | Industry: Aerospace and Defense | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSmart Weapons Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Weapon Type (Missiles, Munitions, Guided Projectiles, Guided Rockets, Guided Firearms, Directed Energy Weapons), By Platform (Air, Land, Naval), By Technology (Laser, Infrared, Radar, GPS, Others), and By Region
The global smart weapons market is anticipated to register an impressive CAGR in the forecast period, 2023-2027. The market is driven by the factors such as increased defense expenditure by the countries and growing procurement of advanced technologies and equipment by leading authorities of several countries to secure the country border. Changing warfare technologies are accelerating the demand for precision strike weapons. Also, the ongoing advancements in weapon technology and increased adoption of advanced technologies by the defense sector are expected to fuel the growth of the global smart weapons market in the forecast period.
Increased Defense Expenditure by Leading Authorities Drives the Market Growth
The defense sector is considered the most valuable asset for any country as the military enforces foreign and domestic policies to protect its citizens. The government must ensure national security, including the citizen security, the country’s institutions, and the economic status of the country. The defense sector needs a massive budget to provide sufficient ammunition, weapons, and other required equipment to the army personnel. The leading authorities of different countries are focusing on adopting advanced technologies to upgrade their existing weapon technology. There have been terrorist activities that often result in lives and the economy. Therefore, to enhance the safety of their countries, the concerned authorities are increasing their budget expenditure. World military spending is continuously increasing, reaching an all-time high value of $2.1 trillion in 2021. It was a 0.7 percent increase from the previous year. The top five highest countries that spend significant amounts on their defense sector were the United States, India, China, the United Kingdom, and Russia. Smart weapons come under novel technologies and require huge funds. The growing defense spending by the leading authorities is expected to fuel the global smart weapons market growth in the forecast period.
Growing Adoption of Advanced Technologies Supports the High Market Demand
The warfare techniques are rapidly changing and are transforming into their advanced versions. Both developing and developed countries focus on the research activities and invest significant amounts in developing advanced missile systems having a higher impact and longer range than the conventional missiles. Due to the huge number of ongoing technological advancements, the demand for precision attacks and operational attacks is expected to grow at a significant rate. There is a massive demand for weapons that can minimize the collateral damage and are able to respond efficiently, thereby providing their advantage in the war zone. The increased demand for advanced weapons is expected to bolster the sales of smart weapons across the globe.
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Market Segmentation
Market Players
BAE Systems Plc., L3Harris Technologies Inc., Thales Group, The Boeing Company, Northrop Grumman Corporation, Raytheon Technologies Corporation, Leonardo S.p.A., Lockheed Martin Corporation, General Dynamics Corporation, MBDA, are the major market players operating in the global smart weapons market.
|
Attribute |
Details |
|
Base Year |
2021 |
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Historic Data |
2017 –
2020 |
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Estimated Year |
2022 |
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Forecast Period |
2023
– 2027 |
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Quantitative Units |
Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth
factors, and trends |
|
Segments covered |
·
Weapon Type ·
Platform ·
Technology |
|
Regional scope |
North America; Asia Pacific; Europe & CIS; South America;
Middle East & Africa |
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Country scope |
United States; Canada; Mexico; China, India, Japan, Thailand,
Indonesia, Australia, South Korea; Germany, France, United Kingdom, Spain,
Italy, Netherlands, Russia, Poland; Brazil, Argentina; Saudi Arabia, Iran,
Israel, UAE, Turkey |
|
Key companies profiled |
BAE Systems Plc., L3Harris Technologies Inc., Thales Group, The
Boeing Company, Northrop Grumman Corporation, Raytheon Technologies
Corporation, Leonardo S.p.A., Lockheed Martin Corporation, General Dynamics
Corporation, MBDA |
|
Customization scope |
10% free report customization with purchase. Addition or alteration
to country, regional & segment scope. |
|
Pricing and purchase options |
Avail customized purchase options to meet your exact research
needs. Explore purchase
options |
|
Delivery Format |
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request) |
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