Allied Analytics The Objective of the “Global Smart Weapons Market ” report is to depict the trends and upcoming for the Smart Weapons industry over the forecast years. Smart Weapons Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2016 to 2022 mulling over 2015 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.
Smart Weapons Market Report, published by Allied Market Research, projects that the smart weapons market size is expected to reach $99,380 million by 2022, growing at a CAGR of 11.6% from 2016 to 2022. This is attributed to the increase in defense expenditure by the governments paired with rising demand for precision strike weapons. North America is expected to be the largest market during the forecast period 2016-2022.
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Among air-to-surface missiles, surface-to-air missiles, smart bombs, sensor fused bombs, directed energy weapons, precision artillery munitions, electromagnetic pulse weapons, smart bullets, and other types of smart weapons, air-to-surface missiles holds the highest market share. Air-to-ground missiles are advantageous in terms of targeting from a distance and off the range of the targets air defenses. However, other weapon that includes unmanned aircrafts and drones is the fastest-growing sub-segment.
North America is the highest revenue-generating region and is expected to maintain its dominance throughout the forecast period. Nonetheless, Asia-Pacific is estimated to be the fastest-growing region due to an increase in the security threats, border breach, and conflicts with the neighboring countries in the region
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Smart Weapons Market Driving Forces:
Increasing defense expenditure by governments of major economies
Growth in demand for precision strike weapons.
Increasing number of security threats from terrorist organizations
Market Restraints and Opportunities:
Arms transfer regulations imposed on import and export
Higher cost of smart weapons compared to conventional weapons
Changing weapons procurement policies of major defiance equipment importers
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Key Market Players Profiled
Raytheon Company
L-3 Communications Holdings
General Dynamics Corporation
Lockheed Martin Corporation
Boeing Company
Northrop Grumman
Airbus Group
United Technologies Corporation
Leonardo-Finmeccanica
BAE systems
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