Overview and Scope
A smart weapons refers to computer-guided weapons embedded with sensors and guided systems. These precision-guided weapons can hit targets with high accuracy and precision and are operated remotely, assisted by the use of external operating systems.
Sizing and Forecast
The smart weapons market size has grown strongly in recent years. It will grow from $15.04 in 2023 to $16.52 in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to export and international sales, growing demand for precision-guided munitions (PGMs), growing demand for multi-role weapons, focus on electronic warfare and countermeasures, demand for interoperable weapons systems.
The smart weapons market size is expected to see strong growth in the next few years. It will grow to $23.31 in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to counter-terrorism efforts, budget allocations for defense, cybersecurity integration, modernization of armed forces, rising demand for precision strike weapons. Major trends in the forecast period include artificial intelligence (AI) and machine learning (ml), miniaturization and increased autonomy, directed energy weapons (dew), counter-drone and counter-missile systems, human-machine teaming and decision support.
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Segmentation & Regional Insights
The smart weapons market covered in this report is segmented –
1) By Type: Air-to-ground Missiles, Surface-to-air Missiles, Smart Bombs, Sensor Fused Weapons, Directed Energy Weapons, Precision Artillery Munitions, Electromagnetic Pulse Weapons, Smart Bullets, Other Smart Weapons
2) By Platform: Air, Naval, Land
3) By Technology: Laser Guidance, Infrared Guidance, Radar Guidance, Satellite Guidance
North America was the largest region in the smart weapons market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the smart weapons market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing global and regional instability is driving the growth of the smart weapons market. Transnational and regional instability refers to the political instability in neighboring countries. Many countries have adopted smart weapons to protect themselves from rising regional instability and to protect themselves from threats by neighboring countries. For instance, in May 2023, according to a report published by Stockholm International Peace Research Institute, a Sweden-based nonprofit organization supporting the use of digital technology in the academic community, 64 multinational peace operations were carried out in 38 nations and territories worldwide in 2022. This was more procedures performed than in any year over the previous ten years combined. As of the end of 2022, there were 114 984 international personnel serving in multilateral peace operations across the globe, up 2.79 percent from the previous year. Therefore, the increasing transnational and regional instability drives the smart weapons market.
Key Industry Players
Major companies operating in the smart weapons market include Lockheed Martin Corporation, MBDA Incorporated, Orbital ATK Inc., General Dynamics Corporation, BAE Systems plc., The Boeing Company, Textron Inc., Northrop Grumman Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Thales Group, Israel Aerospace Industries Ltd., Denel SOC Ltd., Rafael Advanced Defense Systems Ltd., L3Harris Technologies Inc., Alliant Techsystems Inc., Leonardo-Finmeccanica, Saab AB, Aselsan A.S., Diehl Stiftung & Co. KG, OTO Melara S.P.A, United Technologies Corporation., China Aerospace Science and Industry Corporation Limited., The ExOne Company, Höganäs AB, MTU Aero Engines AG
The smart weapons market report table of contents includes:
1. Executive Summary
- Smart Weapons Market Characteristics
- Smart Weapons Market Trends And Strategies
- Smart Weapons Market – Macro Economic Scenario
- Global Smart Weapons Market Size and Growth
- Smart Weapons Market Segmentation
- Smart Weapons Market Regional And Country Analysis
………….
- Key Mergers And Acquisitions In The Smart Weapons Market
- Smart Weapons Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Smart Weapons Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Smart Weapons Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Smart Weapons Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…………
Table 74: Lockheed Martin Corporation Financial Performance
Table 75: MBDA Incorporated Financial Performance
Table 76: Orbital ATK Inc. Financial Performance
Table 77: General Dynamics Corporation Financial Performance
Table 78: BAE Systems plc. Financial Performance
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