Smart Weapons Market Share, Size and Forecast 2022-2027

IMARC Group’s latest report, titled “Smart Weapons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global smart weapons market size reached US$ 16.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 22.8 Billion by 2027, exhibiting a growth rate (CAGR) of 5.87% during 2022-2027.

Smart weapons represent computer-guided munitions that can hit a target with higher accuracy using land mines, bullets, and onboard computers. They are equipped with various technologies, such as television, laser, satellite guidance system, machine learning (ML), and artificial intelligence (AI). Smart weapons aid military personnel in dealing efficiently with combatants on the battlefield and reducing or eliminating collateral damage. They can even be programmed to filter unwanted signals in multiple-signal environments and look for a specific target on a battlefield. Consequently, smart weapons find extensive applications in the military and defense sectors across the globe.

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Competitive Landscape with Key Players: 

  • 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
  • The Boeing Company

Smart Weapons Market Demand:

The increasing geopolitical tensions among countries and the escalating focus among military organizations on upgrading the existing firefighting equipment of the armed forces are primarily driving the smart weapons market. In addition to this, the growing digital innovation and advancements of electronic warfare (EW) systems to facilitate augmented reality (AR) information to operators and the introduction of fully automated smart weapons that can self-respond or make decisions on strike are also positively influencing the global market. In line with this, inflating investments in research and development (R&D) activities to introduce high-resolution and bidirectional brain-machine interfaces that can allow diverse national security applications, including controlling active cyber defense systems, swarms of unmanned aerial vehicles (UAVs), multitasking during complex missions are acting as significant growth-inducing factors. Moreover, the launch of network-enabled weapons that can share and integrate data between systems in real-time and the rising expenditure on the modernization of the defense industry, especially in developing countries, are expected to bolster the smart weapons market in the coming years.

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Key Market Segmentation:

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
  • Sea/Naval
  • Air

Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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