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Precision Guided Munition Market

Precision Guided Munition Market by Speed (Subsonic, Supersonic, and Hypersonic), by Mode of Operation (Semi-autonomous and Autonomous), Launch Platform (Land, Airborne and Naval), by Product, by Technology, and by Regions | Global Market Forecast to 2022-2028

Report Id: SNS/A&D/1160 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Precision Guided Munition Market is expected to increase at a CAGR of 5.4% percent from 2021 to 2028, from USD 34.8 billion in 2021 to USD 49.0 billion in 2028.

The precision-guided munition market is predicted to develop as military budgets throughout the world continue to rise, as does the requirement for superior precision-guided munition to fight contemporary conflict beyond the country's borders. Furthermore, the growing number of wars and rising defense spending are two important drivers driving the worldwide market. Various governments, including the United States, China, India, and Russia, are investing considerably in upgrading their armed forces. As a result, several weapon makers are moving their attention to the development of precision-guided munitions. However, Precision guided munitions are shells that have a terminal guiding system for missiles, bombs, or artillery. It incorporates electrical equipment to direct before the effect in the final step. The terminal guiding unit is designed to detect emitted or reflected EMR within its range of view (electromagnetic radiation). Because the impact of explosive weapons decreases with distance due to inverse cube regulation, even minor accuracy improvements allow a target to be attacked with fewer or smaller bombs. Thus, even if some guided bombs go missing, fewer air crews are put in danger, potentially reducing civilian injury and collateral damage.

Precision Guided Munition Market Revenue Graph

KEY DRIVERS:

  • New technologies and the development of a new generation of air defense systems arrow serve as a key factor in promoting the growth of the precision-led arms industry.

  • This development of arrows furthers the need for protective shields, which may increase the market demand.

  • The upgrading of the new generation of state-of-the-art missiles is a major threat to strategic areas and forums such as naval vessels and airspace.

  • Governments around the world are working hard to improve their low-cost aircraft.

  • precision-guided air defense systems need more technologies such as laser, GPS, INS, radar, etc.

RESTRAINTS:

  • In many lands, weapons manufacturers are banned from exporting their products, thus reducing their chances of working with overseas customers.

  • This prevents arms manufacturers from reaching international markets.

  • This has led to strict control over the transfer of technology and weapons to other countries.

  • This feature acts as a barrier to the growth of the precise targeted arms market.

OPPORTUNITIES:

  • The development of the new generation of advanced technology is a major threat to strategic areas such as military aircraft and ships.

  • Some of these new developments include nuclear missiles and high-speed missiles.

  •  Various countries are developing such advanced weapons that they can defeat advanced air defense systems

  • India and Russia together are building a Brahmas arrow, which is hard to stop with old defensive shields.

CHALLENGES:

  • The integration of small arms with precision-guided munitions involves a simpler process than the larger ones.

  • The integration of various electronic devices, sensors, warheads, deadly vehicles, driving systems, and other sub-systems is extremely complex.

  • Difficulty increases in the form of Multiple Independent Re-entry Vehicle missiles with multiple warheads designed for multiple targets.

  • The assembling process is very complex and requires skilled engineers to do the job.

  • These integration problems can serve as a challenge to the growth of this market.

THE IMPACT OF COVID-19:

The outbreak of COVID-19 has led to many challenges in the defense industry. Although the industry has not been significantly affected, it is still facing many economic problems after the collapse of COVID-19. Since the beginning of the genocide, the defense industry has been under attack from all over the world. The suspension of private equity, the reduction of defense costs by 2020 worldwide, and the postponement of planned contracts have had a significant impact on the defense industry. Therefore, research and development-related activities on precision-guided weapons have been delayed, due to the testing of other archery technology. In addition, with the decline in the supply of precision-directed weapons supply due to COVID-19, many companies are expected to face production shortages. Thus, it has contributed to the growth of the market.

MARKET ESTIMATION:

The report analyzes demographics, growth potential, and market potential during the forecast period. This feature leads to an estimate of market size and provides a framework for how the market will regain growth during testing.

Competitive Landscape

Market Key Player

Northrop Grumman Corporation, Elbit Systems Ltd., Israel Aerospace Industries Ltd., KONGSBERG, Raytheon Technologies Corporation, Lockheed Martin Corporation, BAE Systems, Boeing., General Dynamics Corporation, Saab AB.

KEY MARKET SEGMENT:

By Speed

  • Subsonic

  • Supersonic

  • Hypersonic

By Product

  • Tactical Missiles

  • Guided Rockets

  • Guided Ammunition

  • Torpedoes

  • Loitering Munitions

By Technology

  • Infrared

  • Laser

  • Inertial Navigation System (INS)

  • Global Positioning System (GPS)

  • Radar Homing

  • Anti-radiation

By Mode of Operation

  • Autonomous

  • Semi-autonomous

By Launch Platform

  • Land

  • Airborne

  • Naval

Precision Guided Munition Market Segment Chart

REGIONAL ANALYSIS:

The Asia Pacific dominated the global market by 2021 with a budget of more than 31%. The region is expected to continue the same trend of growing in the CAGR which is very fast in the forecast period. China, South Korea, India, North Korea, Pakistan, and Japan are among the biggest players commanding a strategic war. Growing tensions between countries in the region and the need to strengthen defense capabilities are likely to create an environment for precision-guided weapons. Growing tensions between India and Pakistan have led India to strengthen its defensive capabilities by adding advanced arrows that include Prithvi, Agni, Brahmos, and others. Technological advances and cooperation with the foreign defense departments regarding modern military equipment are expected to increase the penetration of targeted weapons.

REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Precision Guided Munition Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 34.8 Billion
Market Size by 2028 US$ 49.0 Billion
CAGR CAGR of 5.4% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Speed (Subsonic, Supersonic, and Hypersonic)
• By Mode of Operation (Semi-autonomous and Autonomous), Launch Platform (Land, Airborne and Naval)
• By Product
• By Technology
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Northrop Grumman Corporation, Elbit Systems Ltd., Israel Aerospace Industries Ltd., KONGSBERG, Raytheon Technologies Corporation, Lockheed Martin Corporation, BAE Systems, Boeing., General Dynamics Corporation, Saab AB.
DRIVERS • New technologies and the development of a new generation of air defense systems arrow serve as a key factor in promoting the growth of the precision-led arms industry.
• This development of arrows furthers the need for protective shields, which may increase the market demand.
• The upgrading of the new generation of state-of-the-art missiles is a major threat to strategic areas and forums such as naval vessels and airspace.
RESTRAINTS • In many lands, weapons manufacturers are banned from exporting their products, thus reducing their chances of working with overseas customers.
• This prevents arms manufacturers from reaching international markets.
• This has led to strict control over the transfer of technology and weapons to other countries.


Frequently Asked Questions (FAQ) :

Northrop Grumman Corporation, Lockheed Martin, Boeing, Raytheon Technologies, and General Dynamics Corporation.

New technologies and Need of protective shields and  Low-cost aircraft, Upgraded defense technologies.

Financial, Products/ Services Offered, SWOT Analysis, The SNS view.

Manufacturers/Service provider, Consultant, Association, Research institute, private and universities libraries, Suppliers and Distributors of the product.

.

The outbreak of COVID-19 has led to many challenges in the defense industry. Although the industry has not been significantly affected, it is still facing many economic problems after the collapse of COVID-19. Since the beginning of the genocide, the defense industry has been under attack from all over the world.

The suspension of private equity, the reduction of defense costs by 2020 worldwide, and the postponement of planned contracts have had a significant impact on the defense industry.


Table of Contents:

 

1.  Introduction

1.1 Market Definition

1.2 Market Scope

1.3 Research Assumptions

 

2.  Research Methodology

 

3.  Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Russia - Ukraine War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. Precision Guided Munitions Market Segmentation, By Speed

8.1 Subsonic

8.2 Supersonic

8.3 Hypersonic

 

9. Precision Guided Munitions Market Segmentation, By Product

9.1 Tactical Missiles

9.2 Guided Rockets

9.3 Guided Ammunition

9.4 Torpedoes

9.5 Loitering Munitions

 

10.  Precision Guided Munitions Market Segmentation, By Technology

10.1 Infrared

10.2 Laser

10.3 Inertial Navigation System (INS)

10.4 Global Positioning System (GPS)

10.5 Radar Homing

10.6 Anti-radiation

 

11. Precision Guided Munitions Market Segmentation, By Mode of  Operation

11.1 Autonomous

11.2 Semi-autonomous

 

12.  Precision Guided Munitions Market Segmentation, By Launch Platform

12.1 Land

12.2 Airborne

12.3 Naval

 

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2    Canada

13.2.3    Mexico

13.3        Europe

13.3.1    Germany

13.3.2    UK

13.3.3    France

13.3.4    Italy

13.3.5    Spain

13.3.6    The Netherlands

13.3.7    Rest of Europe

13.4        Asia-Pacific

13.4.1    Japan

13.4.2    South Korea

13.4.3    China

13.4.4    India

13.4.5    Australia

13.4.6    Rest of Asia-Pacific

13.5        The Middle East & Africa

13.5.1    Israel

13.5.2    UAE

13.5.3    South Africa

13.5.4    Rest

13.6        Latin America

13.6.1    Brazil

13.6.2    Argentina

13.6.3    Rest of Latin America

 

14. Company Profiles

14.1 Lockheed Martin Corporation.

14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 Boeing.

14.3 General Dynamics Corporation

14.4 Saab AB

14.5 Israel Aerospace Industries Ltd.

14.6 BAE Systems

14.7 Northrop Grumman Corporation

14.8 Elbit Systems Ltd.

14.9 Raytheon Technologies Corporation

14.10 KONGSBERG

 

15. Competitive Landscape

15.1 Competitive Benchmark

15.2 Market Share analysis

15.3 Recent Developments

 

16. Conclusion

 

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Secondary Research

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