Global Precision Guided Munition Market, By Speed (Hypersonic, Non-Hypersonic), Product (Tactical Missiles, Guided Rockets, Guided Ammunition, Loitering Munition), Technology (Infrared, Semi-Active Lasers, Inertial Navigation System (INS), Global Positioning System (GPS), Radar Homing, Anti-Radiation, Others), Type (Autonomous, Semi-Autonomous), End Use (Airborne, Land-base, 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
Precision Guided Munition Market Analysis and Insights
The precision guided munition market size is valued at USD 58.92 billion by 2028 and is expected to grow at a compound annual growth rate of 7.45% over the forecast period of 2021 to 2028. Data Bridge Market Research report on precision guided munition market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
The precision guided munitions are the shell fitted with a terminal guidance system for missiles, bombings or artillery. It consists of electrical equipment so as to guide before effect in the last stage.
The precision guided munition market has a huge potential and is expected grow over the forecast period of 2021 to 2028, owing to the high demand for precision guided munitions to minimize collateral damage. In addition, the rise in military modernization programs and reduction in logistics burden are also largely influencing the growth of the precision guided munition market. Also the rapid change in investment trends of government and increase in defense budget Need of upgrading outdated defense system are another drivers anticipated to flourish the precision guided munition market growth. Additionally, the various political insurgencies and cross border conflicts and introduction of new technologies are also expected to boost the growth of the precision guided munition market in the above mentioned forecast period.
However, the market of precision guided munition though has certain limitations which are expected to obstruct the potential growth of the market such as the various regulations related to arms transfer and high manufacturing cost, whereas the various issues related to the integration of larger precision guided munitions can challenge the growth of the precision guided munition market in the above mentioned forecast period.
- In addition, the rapid development of hybrid precision guided munitions, admittance to advanced technologies through MTCR membership and increase in the export of short-range missiles are projected to offer various growth opportunities for the precision guided munition market in the forecast period of 2021 to 2028.
This precision guided munition 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 the precision guided munition market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Precision Guided Munition Market Scope and Market Size
The precision guided munition market is segmented on the basis of speed, product, technology, type and end use. 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 speed, the precision guided munition market is segmented into hypersonic and non-hypersonic.
- Based on product, the precision guided munition market is segmented into tactical missiles, guided rockets, guided ammunition and loitering munition. Tactical missiles have further been segmented into surface-to-surface, surface-to-air, air-to-air, air-to-surface and subsea-to-surface. Guided rockets have further been segmented into surface-to-surface, air-to-surface and surface-to-air. Guided ammunition has further been segmented into guided mortar, guided artillery shells, guided bombs and guided bullets.
- On the basis of technology, the precision guided munition market is segmented into infrared, semi-active lasers, inertial navigation system (INS), global positioning system (GPS), radar homing, anti-radiation and others. Infrared has further been segmented into IIR homing and IR homing. Radar homing has further been segmented into active homing and semi-active homing.
- Based on type, the precision guided munition market is segmented into autonomous and semi-autonomous.
The precision guided munition market is segmented on the basis of end use into airborne, land-base and naval.
Precision Guided Munition Market Country Level Analysis
The precision guided munition market is analyzed and market size, volume information is provided by country, speed, product, technology, type and end use as referenced above.
The countries covered in the precision guided munition market report are 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).
Asia-Pacific leads the precision guided munition market because of the rise in tensions between the countries as well as the rise in need to strengthen the defense capabilities. Europe is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to the presence of prominent manufacturers and high investments in the military operation.
The country section of the precision guided munition market 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 Precision Guided Munition Market Share Analysis
The precision guided munition 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 precision guided munition market.
The major players covered in the precision guided munition market report are BAE Systems, Lockheed Martin Corporation, Raytheon Company, MBDA, Northrop Grumman, Kongsberg, Leonardo S.p.A., Elbit Systems Ltd., Saab AB, The Boeing Company, KBP Instrument Design Bureau, Hanwha Corporation, Israel Aerospace Industries (IAI) Ltd., Denel Dynamics, LIG Nex 1, Roketsan A.S., Thales Group, General Dynamics Corporation, L3Harris Technologies, Inc., and IMI Systems 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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