Smart Weapons Market by Product (Missiles, Munitions, Guided Projectiles, Guided Rockets, Guided Firearms, and Directed Energy Weapons), Technology (Laser, Infrared, Radar, GPS, and Others), and Platform (Air, Land, and Naval): Global Opportunity Analysis and Industry Forecast, 2021–2030
Smart weapons are projectiles or bombs that are known for their accuracy and are guided by lasers, which are intended to precisely hit a specific target to minimize collateral damage. It includes guided weapons, steerable bombs, sensor-fused weapons, and air-to-ground missiles equipped with laser or satellite guidance technology. In addition, smart weapons guidance technology can be infrared, electro-optical, or laser. The guidance technology consists of sensors to detect a target and lock the weapon onto the target.
The global smart weapon market is driven by the growth in demand for advanced precision strike weapons and the unstable security of countries. However, arms transfer regulations imposed on import and export of smart weapons pose a major restraint for the smart weapon market. On the contrary, a surge in the defense budget and increase in spending on up-gradation of weapons technology are factors that create new growth opportunities for prominent players in the smart weapon market. For instance, in September 2021, the U.S. Navy signed a contract with Northrop Grumman Corporation to proceed with low rate initial production (LRIP) for the AGM-88G Advanced Anti-Radiation Guided Missile Extended Range (AARGM-ER).
The smart weapon market is segmented on the basis of product, technology, platform, and region. On the basis of product, the market is categorized into missiles, munitions, guided projectiles, guided rockets, guided firearms, and directed energy weapons. On the basis of technology, the market is classified into laser, infrared, radar, GPS, and others. On the basis of platform, the market is divided into air, land, and naval. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in this report include BAE Systems Plc., General Dynamics Corporation, L3Harris Technologies Inc., Leonardo S.p.A., Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Raytheon Technologies Corporation, Thales Group, and The Boeing Company.
KEY BENEFITS FOR STAKEHOLDERS
This study presents analytical depiction of the global smart weapon market analysis along with the current trends and future estimations to depict imminent investment pockets.
The overall smart weapon market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global smart weapon market with a detailed impact analysis.
The current smart weapon market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
By Product
Missiles
Munitions
Guided Projectiles
Guided Rockets
Guided Firearms
Directed Energy Weapons
By Technology
Laser
Infrared
Radar
GPS
Others
By Platform
Air
Land
Naval
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY PLAYERS
BAE Systems Plc.
General Dynamics Corporation
L3Harris Technologies Inc.
Leonardo S.p.A.
Lockheed Martin Corporation
MBDA
Northrop Grumman Corporation
Raytheon Technologies Corporation
Thales Group
The Boeing Company
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