Cluster Munitions

Cluster Munitions

Global Cluster Munitions Market to Reach US$245.8 Million by 2030

The global market for Cluster Munitions estimated at US$100.9 Million in the year 2023, is expected to reach US$245.8 Million by 2030, growing at a CAGR of 13.6% over the analysis period 2023-2030. Anti-Tank Cluster Munitions, one of the segments analyzed in the report, is expected to record a 13.8% CAGR and reach US$167.9 Million by the end of the analysis period. Growth in the Anti-Personnel Cluster Munitions segment is estimated at 13.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$27.5 Million While China is Forecast to Grow at 18.2% CAGR

The Cluster Munitions market in the U.S. is estimated at US$27.5 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$54.6 Million by the year 2030 trailing a CAGR of 18.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 10.2% and 11.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.8% CAGR.

Global Cluster Munitions Market - Key Trends and Drivers Summarized

Cluster munitions, also known as cluster bombs, are weapons designed to release multiple smaller submunitions over a wide area. Typically, these submunitions are explosive and can cover an area as large as several football fields, making them effective against dispersed targets like infantry, vehicles, and surface-to-air missile sites. However, they are also highly controversial due to the potential for unexploded submunitions to remain a danger to civilians long after conflicts have ended. Cluster munitions can be delivered by various platforms, including aircraft, artillery, and missile systems, and are used by militaries worldwide despite international efforts to ban or restrict their use due to humanitarian concerns.

The use of cluster munitions has been a subject of significant debate and regulation. The Convention on Cluster Munitions (CCM), adopted in 2008, aims to eliminate the use, transfer, and stockpiling of these weapons, emphasizing the severe humanitarian impact. Over 100 countries have signed the convention, committing to destroy their stockpiles and clear affected areas. However, notable military powers such as the United States, Russia, and China have not joined the CCM, citing their strategic military utility. As a result, these countries continue to develop and deploy cluster munitions, integrating advanced technologies to improve their effectiveness and reliability, reducing the risk of unexploded ordnance. The development and modernization of these weapons remain driven by the perceived need for effective area-denial capabilities and the ability to engage multiple targets simultaneously.

The growth in the cluster munitions market is driven by several factors, primarily technological advancements, strategic military needs, and geopolitical tensions. Advances in technology have led to the development of smarter and more reliable submunitions that are designed to self-destruct or deactivate, mitigating the risks associated with unexploded ordnance. This innovation has made cluster munitions more attractive to countries that prioritize minimizing civilian casualties while maintaining robust military capabilities. Additionally, the ongoing modernization of military forces, particularly in nations not bound by the CCM, fuels demand for these munitions as part of broader strategic arsenals. Geopolitical factors, including regional conflicts and defense policies focused on deterrence and rapid response, also contribute to the sustained demand for cluster munitions. As long as key military powers continue to value the tactical advantages offered by these weapons, the market for cluster munitions is expected to persist and potentially expand.

Select Competitors (Total 86 Featured) -

• Avibras Industria Aeroespacial S/A
• Bharat Dynamics Limited
• China Aerospace Science and Technology Corporation (CASC)
• Hanwha Group
• LIG Nex1 Co. Ltd.
• NORINCO
• Poongsan Corporation;

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.