Smart Weapons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Smart Weapons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global smart weapons market size reached US$ 17.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 24.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.89% during 2022-2028.

Smart weapons are computer-guided munitions that can hit a target with high accuracy using bullets, land mines, and onboard computers. They are equipped with technologies like laser, television, satellite guidance system, artificial intelligence (AI), and machine learning (ML). These advanced technologies aid military personnel in dealing with combatants on the battlefield and eliminating or reducing the collateral damage. Smart weapons can be programmed to filter unwanted signals in multiple-signal environments and find a specific target on a battlefield.

Smart Weapons Market Trends:
Due to rising geopolitical tensions between countries, military organizations in different parts of the world are focusing on upgrading the existing firefighting equipment of the armed forces. This represents one of the significant factors catalyzing the need for digital innovation and transformation of weapons. Smart weapons assist in analyzing battlefield situations on land, at sea, and in the air. Moreover, advanced technologies can be embedded in electronic warfare (EW) systems to provide augmented reality (AR) information to operators. In line with this, defense research and development (R&D) organizations are developing fully automated smart weapons that can make decisions on strike or self-respond. For instance, the Defense Advanced Research Projects Agency (DARPA), an agency of the United States Department of Defense, funded six organizations to support the Next-Generation Nonsurgical Neurotechnology (N3) program. This program aims at developing high-resolution, bidirectional brain-machine interfaces that can enable diverse national security applications. These applications include controlling active cyber defense systems, multitasking during complex missions, and swarms of unmanned aerial vehicles (UAVs). In addition, the increasing spending on the modernization of the defense sector is driving the market for smart weapons across the globe.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart weapons market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, technology and platform.

Breakup by Type:

Missiles
Anti-Tank Missiles and Standoff Missiles
Air-to-Air and Air-to-Surface Missiles
Anti-Ship and Anti-Submarine Missiles
Munitions
Guided Bombs
Target Pods
Guided Projectiles
Artillery Shells
Mortar Rounds
Guided Rockets
Anti-Tank and Tactical Rockets
Air-to-Air and Air-to-Surface
Anti-Submarine
Precision Guided Firearms
Small Smart Weapons
Shoulder Fired Weapons
Smart Guns

Breakup by Technology:

Satellite Guidance
Radar Guidance
Infrared Guidance
Laser Guidance

Breakup by Platform:

Land-based
Sea/Naval
Air

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Airbus SE, BAE Systems, General Dynamics Corporation, Israel Aerospace Industries, L3Harris Technologies Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, Thales Group and The Boeing Company.

Key Questions Answered in This Report:
How has the global smart weapons market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global smart weapons market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the platform?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global smart weapons market and who are the key players?
What is the degree of competition in the industry?