What is Military Smart Weapons Market Scope?
Military smart weapons are modern weapon systems that are able to guide themselves to the target with the help of on-board computers. Weapons such as bombs and projectiles guided by lasers have higher accuracy in hitting the target as compared to normal weapons. Increasing demand for anti-tank missile systems by the United States government, serves as a key driver for the growth of the land segment of the market, by the platform. The US Department of Defense is currently developing the Joint Air-to-Ground Missile (JAGM), which will replace the Hellfire family of missiles. The increasing cost of maintenance and aging military equipment have resulted in increased demand for the smart weapons market.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | The Boeing Company (United States), Lockheed Martin Corporation (United States), Raytheon Company (United States), Northrop Grumman Corporation (United States), L3Harris Technologies, Inc. (United States), General Dynamics Corporation (United States), Orbital ATK (United States), Textron Inc. (United States), MBDA, Inc. (United Kingdom) and BAE Systems PLC (United Kingdom) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Military Smart Weapons market study is being classified by Type (Missiles, Guided Rockets, Ammunition, Guided Projectiles, Guided Firearms and Others), by Application (
) and major geographies with country level break-up.
The military smart weapons market is highly fragmented, owing to the presence of a number of players who provide different weapons based on different technologies. Investments in the development of advanced weapons systems by the manufacturers for precise targeting, and tracking, and attacking the target are expected to help them gain a competitive edge over the other competitors. Analysts at AMA predicts that Manufacturers from United States will contribute to the maximum growth of Global Military Smart Weapons market throughout the predicted period.
The Boeing Company (United States), Lockheed Martin Corporation (United States), Raytheon Company (United States), Northrop Grumman Corporation (United States), L3Harris Technologies, Inc. (United States), General Dynamics Corporation (United States), Orbital ATK (United States), Textron Inc. (United States), MBDA, Inc. (United Kingdom) and BAE Systems PLC (United Kingdom) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Rheinmetall AG (Germany), Safran SA (France), Israel Aerospace Industries Ltd. (Israel), Rafael Advanced Defense Systems Ltd. (Israel), Kongsberg Gruppen (Norway), Denel SOC (South Africa) and SAAB AB (Sweden).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Military Smart Weapons market by Type, Application and Region.
On the basis of geography, the market of Military Smart Weapons has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In 2016, The United States Navy signed a contract with BAE Systems worth approximately USD 600 million to provide advanced precision kill weapon system (APKWS) laser-guided rockets. and The US Army placed an order BONUS, a 155-millimeter heat-seeking anti-tank shell, from BAE Systems Bofors and Nexter Systems.
Influencing Market Trend
- Development of Biometric Technology in the Weapons Such As Palm Print Scanners Or Voice Recognition
Market Drivers
- Increasing Need for a Smart Weapons Owing To Increase in Terrorist Activities Globally
- Increasing Defense Budget and Government Support
- Continuous Development and Procurement of Modern Warfare Equipment
Opportunities
- Growing Demand from Emerging Economies
- Standardization of Ancient Weapons
Restraints
- Regulations on Export of Such Products in Some Countries
- Declining Defense Budgets of Advanced Economies
Challenges
- Integration of Weapon and Lack of Mature Technology
Key Target Audience
Military Smart Weapons Manufacturers, Regulatory Bodies, Component Suppliers, Technology Providers, Parts/Accessories Suppliers, Government Authorities, Military & Defense Industry, Traders/Exporters/Importers, End-Use Industry and Others
Customization available in this Study:
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To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.