Global Smart Weapons Market Size study, by Product (Missiles, Munitions, Guided Rockets, Guided Projectiles, Guided Firearms, Others), by Technology (Infrared, Laser, Radar, Positioning System (GPS), Others), by Platform (Land, Maritime, Airborne), and Re

Global Smart Weapons Market Size study, by Product (Missiles, Munitions, Guided Rockets, Guided Projectiles, Guided Firearms, Others), by Technology (Infrared, Laser, Radar, Positioning System (GPS), Others), by Platform (Land, Maritime, Airborne), and Regional Forecasts 2022-2032

Global Smart Weapons Market is valued at approximately USD 18 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2024-2032. Smart weapons, equipped with advanced technologies such as GPS, radio, infrared, laser, and satellite guidance systems, provide unparalleled accuracy and precision, ensuring minimal collateral damage and enhanced operational efficiency. These precision-guided munitions are a pivotal advancement in modern warfare, drastically changing the dynamics of military strategy by integrating intelligent systems for improved target engagement and safety.

The growing imperative for precision strike weapons, coupled with the volatile international security landscape, drives the demand for smart weapons. This surge is further bolstered by the increasing defense budgets aimed at upgrading weapon technology. For instance, Northrop Grumman Corporation's contract with the U.S. Navy for the low-rate initial production of AGM-88G Advanced Anti-Radiation Guided Missile Extended Range (AARGM-ER) exemplifies the escalating demand for sophisticated weapons systems. Moreover, the technological advancements in smart weapons and the rise in urban air mobility initiatives present various lucrative opportunities over the forecast years. The market faces challenges from stringent arms transfer regulations, as highlighted by the Arms Trade Treaty. This treaty, aimed at controlling and reducing the trade of smart weapons, poses significant constraints on market growth.

The key regions considered for the Global Smart Weapons Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Smart Weapons Market in terms of revenue. The market growth in the region is being attributed to factors including high defense spending and extensive military modernization initiatives. The presence of key players such as Boeing, Lockheed Martin, and Northrop Grumman further accentuates the region's market leadership. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by increasing defense budgets and the presence of major defense contractors like Thales Group and BAE Systems.

Major market players included in this report are:
The Boeing Company
L-3 Communications Holdings Inc.
MBDA Inc.
General Dynamics Corporation
Orbital ATK
Thales Group
Textron Inc.
Rheinmetall AG
Lockheed Martin Corporation
Raytheon Technologies Corporation
BAE Systems PLC
Northrop Grumman Corporation
Rafael Advanced Defense Systems Ltd.
Kongsberg Gruppen ASA
Elbit Systems Ltd.

The detailed segments and sub-segment of the market are explained below:
By Product:
Missiles
Munitions
Guided Rockets
Guided Projectiles
Guided Firearms
Others

By Technology:
Infrared
Laser
Radar
Positioning System (GPS)
Others

By Platform:
Land
Maritime
Airborne

By Region:
North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico
Rest of Latin America

Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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