Smart Weapons Market, By Product (Missiles, Munitions, Guided Rockets, Guided Projectiles, Guided Fi

Published Date: | Report Code : AD1957250

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Smart Weapons are projectiles and bombs which are widely known for their accuracy. They are generally guided by lasers and other means. The increasing Technology of smart weapons in the defense sector due to the rising security has propelled the smart weapons market.

The global smart weapons market is segmented based on product, platform, and technology.

Based on the product, it is segmented into missiles, munitions, guided projectiles, guided rockets, and precision-guided firearms. owing to the rising number of army modernization programs, increasing procurement of military equipment, and a rise in defense budgets globally, there has been a rise in the demand and use of munitions and missiles segment.

By platform, it is segmented into air, land and naval. The rising need to be self-reliant and have a strong defense background is the major reason fueling the growth of the segment.

Based on technology, it is divided into infrared, lasers, GPS, radar, and others. There has been a brisk rise in the demand and usage of infrared technology as it is very accurate and precise. There have been tremendous advancements in infrared technology and it is most widely used in military force Technologies which includes night vision, target acquisition, tracking, and surveillance.

Key Factors Impacting Market Growth:

  • The rising cost of the maintenance and aging military equipment has resulted in increased demand for the smart weapons market.
  • Modernization in the manufacturing of weapon
  • Increasing demand for high precision arms and ammunition

Regional Outlook: 

The smart weapons market by region has been segmented by North America, Western Europe, Asia Pacific, Middle East, Eastern Europe, and the Rest of the World. The rest of the World includes South America and Africa. North America and the European region have been traditional regions for the aerospace & defense sector with the presence of major manufacturers and high market demand. In addition to this, these regions have been aggressive in terms of technological developments and research. This is one of the key factors governing the demand for smart weapons market during the forecast period. Major countries in these regions include the US, France, UK, Germany, Italy, Russia, Canada, and So on. This sector is one of the key contributors to the economies in the region. The Asia Pacific is estimated to be the fastest-growing region with increasing expenditure on defense and space research. With the presence of some of the fastest-growing economies including India and China, this region is projected to be a major market for smart weapons during the forecast period. Other key countries in the region include South Korea, Japan, and Australia. The Middle East region promises a high potential demand for the smart weapons market during the forecast period. Major countries in this region include UAE, Saudi Arabia, Iran, Israel, and others. The rest of the World is an emerging market for smart weapons with demand from countries including South Africa, Brazil, Argentina, Nigeria, and others during the forecast period.

Market Segmentation:

By Product:

  • Missiles
  • Munitions
  • Guided Rockets
  • Guided Projectiles
  • Guided Firearms 

By Platform:

  • Land
  • Air
  • Naval

By Technology:

  • Infrared
  • Lasers
  • GPS
  • Radar
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Product
    • By Platform
    • By Technology
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Product
    • By Platform
    • By Technology
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Product
    • By Platform
    • By Technology
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Product
    • By Platform
    • By Technology
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Product
    • By Platform
    • By Technology
  • Rest of the World
    • By Region (South America, Africa)
    • By Product
    • By Platform
    • By Technology

Companies Covered:  Textron Defense Systems, Raytheon Company, Israel Aerospace Industries, General Dynamics, Denel Dynamics, Boeing, Rafael Advanced Defense Systems Ltd. BAE Systems, OTO Melara S.P.A, L-3 Fuzing, and Ordnance Systems Inc. and Alliant Techsystems Inc.

Reasons to Buy This Report:

  • Market size estimation of the global smart weapons market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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