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Smart Weapons Market Size, Share, and Industry Report [2031]
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Smart Weapons Market Size, Share, and Industry Report [2031]

Segments - Smart Weapons Market by Products (Guided Missile [Surface-To-Air Missiles and Air-To-Ground Missiles], Electro-Magnetic Pulse Weapons, Smart Bullets, Precision Artillery Ammunitions, Direct Energy Weapons, Smart Bombs, and Sensor Fused Weapons) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Upcoming | Report ID :AD-4171 | 4.3 Rating | 70 Reviews | 223 Pages | Format : PDF Excel PPT

Report Description


Smart Weapons Market Outlook 2031

The global smart weapons market size was USD 16.43 Billion in 2022 and is anticipated to reach USD 125.29 Billion by 2031 register a considerable CAGR 5% during the forecast period, 2023–2031. The growth of the market is attributed to the rising maintenance costs and rapid update of ageing military equipment across countries.

Smart weapons can be described as a range of military arsenal and devices such as bombs and projectiles that are designed to launch using lasers or other methods to execute extreme precision of the targeted objects or locations. Using a guidance system, a smart weapon may hit a target with greater accuracy. Sensor-fused weapons, guided weapons, air-to-ground missiles, and steerable bombs with satellite or laser guidance systems are all majorly components of smart weapons.

Smart Weapons Market Outlook

These satellite-guided bombs also have guidance systems that confirm the target using navigation satellites. The availability and invention of several types of smart weapons has stemmed from advancements in weapon manufacturing technology. For instance, cruise missiles can use clever technology to use navigation satellite data to maintain a proper flight path.

In terms of acceptance and technological complexity, the market is diversified. The Indian Defence Research and Development Organization (DRDO) successfully tested a newly developed Smart Anti-Airfield Weapon on the Hawk-I jet built by Hindustan Aeronautics Limited on January 22, 2021.

Due to the COVID-19 pandemic, the budget allocation to the defense sector has been significantly curtailed by governments across nations due to shifting focus on addressing healthcare burdens. Emergency lockdown in most countries around the world had a major impact on the military sector, causing important businesses to cease production and delay smart weapon deliveries.

Rafale production was halted in March 2020 due to a production shutdown in France, which resulted in the delay of delivery of fighters to India. Despite the setbacks, the market is likely to grow steadily in the mid-2021 due to increasing subside of virus cases across the globe.

  • Changes in the nature of warfare, increasing need for high precision ammunition and armaments, and growing desire to mitigate security harm are the key factors driving the market.
  • Network enabled weapons can exchange data between network nodes and are in high demand among armed forces worldwide. These are key factors projected to propel the market.
  • Growing number of military forces' replenishment and modernization plans by major economies due to rising geo-political tension or border issues are expected to drive the market.
  • Strict government regulations on guided firearms and existing international norms to limit the testing or using ballistic weapons are major restraining factors that can hamper the market expansion.
  • Increased defense spending, the expansion of military personnel, and the procurement of modern weapons for special operations are all anticipated to create lucrative opportunities for market growth.

Scope of The Smart Weapons Market Report

The report on the global smart weapons market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Smart Weapons Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Products (Guided Missile [Surface-To-Air Missiles and Air-To-Ground Missiles], Electro-Magnetic Pulse Weapons, Smart Bullets, Precision Artillery Ammunitions, Direct Energy Weapons, Smart Bombs, and Sensor Fused Weapons)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Raytheon Company; Israel Aerospace Industries; General Dynamics; Denel Dynamics; Boeing; Rafael Advanced Defense Systems Ltd.; BAE Systems plc; OTO Melara S.P.A; L-3 Fuzing; Ordnance Systems Inc.; Alliant Techsystems Inc.; and Textron Defense Systems

Smart Weapons Market Segment Insights

Guided missile segment to expand at a considerable CAGR

On the basis of products, the smart weapons market is segmented into guided missile, electro-magnetic pulse weapons, smart bullets, precision artillery ammunitions, direct energy weapons, smart bombs, and sensor fused weapons. The guided missile segment is further categorized as surface-to-air missiles and air-to-ground missiles.

The guided missile segment is projected to expand at a considerable CAGR during the forecast period owing to the defense forces' rising requirement for sophisticated guided missiles. The emergence of Smart Tech Challenges Foundation in response to the demand for gun safety has resulted in significant developments of various smart weapons.

Smart Weapons Market Products

North America is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the large defense budget and good regulatory environment especially in the US.

However, the market of Asia Pacific is anticipated to expand at a rapid growth pace during the forecast period due to increasing defense investments from India, China, South Korea, Japan, and other countries.

Smart Weapons Market Region

Segments

The global smart weapons market has been segmented on the basis of

Products

  • Guided Missile
    • Surface-To-Air Missiles
    • Air-To-Ground Missiles
  • Electro-Magnetic Pulse Weapons
  • Smart Bullets
  • Precision Artillery Ammunitions
  • Direct Energy Weapons
  • Smart Bombs
  • Sensor Fused Weapons

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Raytheon Company
  • Israel Aerospace Industries
  • General Dynamics
  • Denel Dynamics
  • Boeing
  • Rafael Advanced Defense Systems Ltd.
  • BAE Systems plc
  • OTO Melara S.P.A
  • L-3 Fuzing
  • Ordnance Systems Inc.
  • Alliant Techsystems Inc.
  • Textron Defense Systems

Competitive Landscape

Key players competing in the global smart weapons market are Raytheon Company; Israel Aerospace Industries; General Dynamics; Denel Dynamics; Boeing; Rafael Advanced Defense Systems Ltd.; BAE Systems plc; OTO Melara S.P.A; L-3 Fuzing; Ordnance Systems Inc.; and Alliant Techsystems Inc.; and Textron Defense Systems

Several major market participants are concentrating their efforts on producing sophisticated technology goods that help to improve overall military operations. Original equipment manufacturers (OEMs) also focus on corporate expansion through military contracts, mergers and acquisitions, and other means.

For example, India launched its domestic missile, Helina which was conceived and developed by DRDO from the revolutionary light helicopter Dhruv on February 19, 2021.

Smart Weapons Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Weapons Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Smart Weapons Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Smart Weapons Market - Supply Chain
  4.5. Global Smart Weapons Market Forecast
     4.5.1. Smart Weapons Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Smart Weapons Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Smart Weapons Market Absolute $ Opportunity
5. Global Smart Weapons Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Smart Weapons Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Smart Weapons Demand Share Forecast, 2019-2026
6. North America Smart Weapons Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Smart Weapons Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Smart Weapons Demand Share Forecast, 2019-2026
7. Latin America Smart Weapons Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Smart Weapons Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Smart Weapons Demand Share Forecast, 2019-2026
8. Europe Smart Weapons Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Smart Weapons Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Smart Weapons Demand Share Forecast, 2019-2026
9. Asia Pacific Smart Weapons Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Smart Weapons Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Smart Weapons Demand Share Forecast, 2019-2026
10. Middle East & Africa Smart Weapons Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Smart Weapons Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Smart Weapons Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Smart Weapons Market: Market Share Analysis
  11.2. Smart Weapons Distributors and Customers
  11.3. Smart Weapons Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Raytheon Company
     11.4.2. Israel Aerospace Industries
     11.4.3. General Dynamics
     11.4.4. Denel Dynamics
     11.4.5. Boeing
     11.4.6. Rafael Advanced Defense Systems Ltd.
     11.4.7. BAE Systems plc
     11.4.8. OTO Melara S.P.A
     11.4.9. L-3 Fuzing
     11.4.10. Ordnance Systems Inc.
     11.4.11. Alliant Techsystems Inc.
     11.4.12. Textron Defense Systems

Methodology

Our Clients

Dassault Aviation
The John Holland Group
Pfizer
Siemens Healthcare
sinopec
Honda Motor Co. Ltd.
Nestle SA
General Electric