Global Smart Weapons Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Product;

Missiles, Ammunitions and Other.

By Technology;

Satellite Guidance, Radar Guidance, Infrared Guidance and Laser Guidance.

By Platform;

Land, Sea and Air.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn469648952 Published Date: February, 2024 Updated Date: March, 2024

Introduction

Global Smart Weapons Market (USD Million), 2020 - 2030

In the year 2023, the Global Smart Weapons Market was valued at USD 17,254.30 million. The size of this market is expected to increase to USD 24,278.53 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 5.0%.

The global smart weapons market represents a significant segment within the broader defense industry, characterized by the integration of advanced technologies to enhance precision, efficiency, and effectiveness in modern warfare. Smart weapons encompass a diverse array of munitions, including guided missiles, precision-guided munitions (PGMs), smart bombs, and guided artillery shells, among others. These weapons leverage sophisticated guidance systems, sensors, and communication technologies to accurately engage targets with minimal collateral damage, offering militaries strategic advantages in various operational scenarios.

One of the primary drivers of the smart weapons market's growth is the increasing emphasis on precision strike capabilities by defense establishments worldwide. As modern conflicts evolve and adversaries adopt asymmetrical tactics, there is a growing demand for weapons systems that can deliver precise and decisive responses. Smart weapons provide military forces with the ability to neutralize high-value targets while minimizing the risk to friendly forces and civilian populations, thereby reshaping doctrines and strategies across the defense landscape.

Moreover, technological advancements, particularly in areas such as artificial intelligence (AI), data analytics, and miniaturization, are driving innovation within the smart weapons sector. These advancements enable the development of more sophisticated guidance systems, improved target recognition capabilities, and enhanced situational awareness for weapon platforms. Furthermore, integration with network-centric warfare concepts allows for greater coordination and interoperability among different weapon systems and military units, enhancing overall operational effectiveness.

The global smart weapons market is also influenced by geopolitical dynamics, with countries seeking to maintain or enhance their military capabilities to safeguard national interests and address emerging security threats. This has led to increased investments in research and development (R&D) to bolster indigenous defense capabilities and partnerships or alliances for technology transfer and collaboration. Additionally, the proliferation of smart weapons among both state and non-state actors has raised concerns regarding arms control, non-proliferation efforts, and the ethical implications of autonomous weapon systems, shaping discussions and policies at the international level.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product
    2. Market Snapshot, By Technology
    3. Market Snapshot, By Platform
    4. Market Snapshot, By Region
  4. Global Smart Weapons Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Precision Strike Emphasis
        2. Technological Advancements
        3. Geopolitical Dynamics
      2. Restraints
        1. Arms Control Concerns
        2. Non-Proliferation Challenges
        3. Ethical Implications
      3. Opportunities
        1. R&D Investments
        2. Technology Partnerships
        3. Emerging Security Threats
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Smart Weapons Market, By Product, 2022 - 2032 (USD Million)
      1. Missiles
      2. Ammunitions
      3. Other
    2. Global Smart Weapons Market, By Technology, 2022 - 2032 (USD Million)
      1. Satellite Guidance
      2. Radar Guidance
      3. Infrared Guidance
      4. Laser Guidance
    3. Global Smart Weapons Market, By Platform, 2022 - 2032 (USD Million)
      1. Land
      2. Sea
      3. Air
    4. Global Smart Weapons Market, By Geography, 2022 - 2032 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN(Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. General Dynamics Corporation
      2. Israel Aerospace Industries Ltd
      3. Lockheed Martin Corporation
      4. Northrop Grumman Corporation
      5. Rafael Advanced Defense Systems Ltd
      6. Rheinmetall AG
      7. The Boeing Company
      8. MBDA
      9. L3Harris Technologies, Inc
      10. BAE Systems plc
      11. Raytheon Company
      12. Safran SA
  7. Analyst Views
  8. Future Outlook of the Market

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