Smart Weapons

Smart Weapons

Global Smart Weapons Market to Reach US$30.3 Billion by 2030

The global market for Smart Weapons estimated at US$20.4 Billion in the year 2023, is expected to reach US$30.3 Billion by 2030, growing at a CAGR of 5.9% over the analysis period 2023-2030. Smart Missiles, one of the segments analyzed in the report, is expected to record a 5.4% CAGR and reach US$9.9 Billion by the end of the analysis period. Growth in the Smart Munitions segment is estimated at 5.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$6.0 Billion While China is Forecast to Grow at 6.4% CAGR

The Smart Weapons market in the U.S. is estimated at US$6.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.9 Billion by the year 2030 trailing a CAGR of 6.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.2% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR.

Global Smart Weapons Market - Key Trends & Drivers Summarized

Smart weapons represent a significant advancement in modern military technology, incorporating advanced guidance systems, sensors, and data analytics to enhance precision, effectiveness, and situational awareness. These weapons include smart bombs, guided missiles, guided firearms, guided projectiles, guided rockets, directed energy weapons, precision-guided munitions, and smart bullets, each designed to strike targets with high accuracy while minimizing collateral damage. The integration of GPS, laser guidance, and infrared targeting systems allows smart weapons to adapt to changing conditions and targets in real-time. This technological sophistication not only improves mission success rates but also enhances the safety of military personnel by reducing the need for close combat and exposure to enemy fire.

The development and deployment of smart weapons are driven by the increasing need for precision in modern warfare. Traditional weapons often lack the accuracy required for complex and high-stakes military operations, leading to unintended damage and casualties. Smart weapons address these issues by offering pinpoint accuracy, even in challenging environments. Additionally, the rising complexity of modern battlefields, where combatants often operate in densely populated urban areas, necessitates the use of weapons that can distinguish between hostile targets and civilians. Advances in artificial intelligence and machine learning are further enhancing the capabilities of smart weapons, enabling them to process vast amounts of data and make autonomous decisions in real-time.

The growth in the smart weapons market is driven by several factors. Firstly, the increasing demand for precision in military operations is pushing the adoption of advanced guided weapon systems. Secondly, technological advancements in guidance systems, sensors, and AI are enhancing the accuracy and reliability of smart weapons. Thirdly, the geopolitical landscape and rising defense budgets are driving investments in modernizing military arsenals with state-of-the-art weaponry. Lastly, the need to reduce collateral damage and civilian casualties in conflict zones is leading to the development and deployment of more sophisticated smart weapons. These factors collectively contribute to the rapid expansion and innovation in the smart weapons market.

Select Competitors (Total 80 Featured) -

• BAE Systems PLC
• Collins Aerospace
• Boeing Company, The
• Ball Corporation
• China Aerospace Science and Technology Corporation (CASC)
• Almaz-Antey
• Armament Systems & Procedures Inc. (ASP, Inc.)
• Bharat Dynamics Limited
• Combined Systems, Inc.
• Condor Non-Lethal Technologies
• Axon Enterprise, Inc.
• Adsys Controls, Inc.
• Applied Companies Corp.
• BlueHalo
• Baykar Technologies

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