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Smart Assault Rifle Market

Smart Assault Rifle Market Size study, by Product (Telescopic Sight, Collimating Optical Sight, Reflex Sight, Missiles, Munitions, Guided Rockets, Guided Projectiles, Guided Firearms), by Technology (Infrared, Laser, Radar, Global Positioning System, and Others), by Platform (Land, Naval, and Air), and Regions | Global Market Forecasts 2022-2028

Report Id: SNS/A&D/1164 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Smart Assault Rifle Market Size was valued at USD 15.71 billion in 2021 and is expected to reach USD 24.41 billion by 2028, and grow at a CAGR of 6.5% over the forecast period 2022-2028.

Smart weapons are computer-controlled devices equipped with radio, infrared, laser, global positioning system and satellite navigation system, which provide incredible accuracy and precision. Smart weapons are also referred to as precision-directed weapons aimed at direct targeting strikes and minimizing associated hazard injuries. Smart weapons are used and aided by the use of external applications, located locally. The smart weapons system has changed the course of military involvement and its tactics. Cruise Arrows use information from the navigation satellite to maintain proper direction and direction during flight. Smart guns have protections that allow them to operate only when activated by an authorized person, thus reducing misuse, theft of firearms, and situations of self-harm. Protective features on smart devices include RFID (Radiofrequency Identification Device) chips, fingerprint recognition, biometric sensors, machine locks, and magnetic kit.

Smart Assault Rifle Market Revenue Graph

MARKET DYNAMICS:

KEY DRIVERS:

  • Growing need

  • Geopolitical conflict

  • Higher effectiveness

RESTRAINTS:

  • Stringent government rule

  • Illegal usage

OPPORTUNITIES:

  • Market expansion

  • Modern enhancement

CHALLENGES:

  • Middle East & Africa conflict

  • High cost

THE IMPACT OF COVID-19

According to the MRFR, the current projections for the growth of the global smart market by 2028 are expected to be lower than the previous COVID-19 estimates. The epidemic has had a devastating effect on the aviation, defense and maritime industry worldwide. In the defense industry, due to declining tax revenues by declining GDP, it is also expected to reduce the demand for new aircraft, submarines, underground vehicles, and related defense application programs over the next few years. This is also expected to reduce the need for smart weapons.

Many governments around the world are focused on controlling the COVID-19 outbreak in their countries. Therefore, they invest heavily in health care and vaccine development. Therefore, the cost of protection in new systems is expected to decrease over the next few years. The cost of protection is expected to increase gradually during the forecast period after the end of the epidemic.

By product:

Missiles

The missiles segment held the most market share and is expected to grow at the fastest rate during the review period. This is due to the increased development of technologically advanced missiles as well as increased global demand.

Munitions

During the projection period, this category is expected to develop at a stable rate. This is due to a rise in the demand for munitions as weapons.

Guided Projectiles

During the forecast period, this segment is expected to have the greatest CAGR. This is owing to the rising use of guided projectiles by military forces around the world for UAVs, fighter jets, and helicopters.

By platform

The market is divided into three categories according to on the platform: air, land, and naval.

During the forecast period, the land segment is expected to increase the fastest. Increased defense spending, rapid military force expansion, and increased procurement of smart weapons will drive segmental growth. CGI has signed a contract with the United States Army to assist its Aviation and Missile Command programs. The contract was valued at USD 92.5 million. The air segment will experience significant expansion as air forces increase their desire for precision weaponry. The DRDO-developed Smart Anti-Airfield Weapon was launched from the Indian Air Force's Sukhoi Su-30MKI and SEPECAT Jaguar aircraft. The naval segment will experience moderate growth as naval forces increase their procurement of directed energy weapons.

By Technology

The development of technologically advanced products will drive the most rapid growth in the laser guidance segment. The market is classified into laser guidance, infrared guidance, radar guidance, satellite guidance, and others based on technology.

The laser guidance market is expected to increase at an exponential rate in the future years. The advent of cutting-edge technology, such as lasers, has resulted in increased precision and operating efficiency. During the forecast period, the satellite guidance segment is expected to increase significantly. The increase is attributed to an increase in demand for GPS-guided smart guns, which can work efficiently even in adverse weather conditions.

COMPETITIVE LANDSCAPE:

The worldwide smart weapons market is likely to expand significantly in the future years as defense spending and navy modernization plans increase. The presence of various worldwide and regional suppliers characterizes the global smart weapons industry. The market is extremely competitive, with all firms attempting to achieve the greatest possible market share. The primary variables influencing the global market growth include frequent changes in government policies, fierce rivalry, and government restrictions. The vendors compete on price, product quality, and dependability.

Market Key Players Operating in the Global Smart Weapons Market Are

Lockheed Martin Corporation, Raytheon Technologies Corporation, BAE Systems, PLC, The Boeing Company, L-3 Communications Holdings, Inc., MBDA, Inc, General Dynamics Corporation, Orbital ATK, Thales Group, Textron Inc, Rheinmetall Ag, and Other players.

Key Market Segment:

By Technology:

  • Laser

  • Radar

  • GPS

  • Infrared

  • Others

By Platform:

  • Air

  • Land

  • Naval

By Product:

  • Telescopic Sight

  • Collimating Optical Sight

  • Reflex Sight

  • Missiles

  • Munitions

  • Guided Projectiles

  • Guided Rockets

  • Precision Guided Firearms

Smart Assault Rifle Market Segment Chart

REGIONAL ANALYSIS:

North America is made up of two large countries: the United States and Canada. North America leads the world in military spending and technology breakthroughs, and there is a huge demand for smart weaponry. Although Canada invests in the development of such advanced weaponry, the country's smart weapons business is mostly reliant on the United States. Because of the presence of significant manufacturers such as Lockheed Martin, Raytheon Technologies Corporation, and Northrop Grumman, the region held the greatest proportion of the overall market in 2022.

Furthermore, the increased military expenditures by the US Department of Defense on smart weapons in recent years have resulted in a major surge in demand in the regional market. APAC Races Ahead at the Quickest Rate as China and India Take the Lead MRFR expects the Asia-Pacific market to grow at the fastest rate during the forecast period, owing to key economies increased defense spending. Due to increased investments in smart weaponry, major countries such as China, Japan, India, and Australia are driving market expansion in Asia-Pacific.

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 Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Smart Assault Rifle Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 15.71 Billion
Market Size by 2028 US$ 24.41 Billion
CAGR CAGR of 6.5% 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 Product (Telescopic Sight, Collimating Optical Sight, Reflex Sight, Missiles, Munitions, Guided Rockets, Guided Projectiles, Guided Firearms)
• By Technology (Infrared, Laser, Radar, Global Positioning System, and Others)
• By Platform (Land, Naval, and Air)
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 Lockheed Martin Corporation, Raytheon Technologies Corporation, BAE Systems, PLC, The Boeing Company, L-3 Communications Holdings, Inc., MBDA, Inc, General Dynamics Corporation, Orbital ATK, Thales Group, Textron Inc, Rheinmetall Ag, and Other players.
DRIVERS • Growing need
• Geopolitical conflict
• Higher effectiveness
RESTRAINTS • Stringent government rule
• Illegal usage


Frequently Asked Questions (FAQ) :


Table of Contents:

 

1. Introduction

1.1 Market Definition

1.2 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 Ukraine-Rusia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Smart Assault Rifle Market, By Technology

8.1 Laser

8.2 Radar

8.3 GPS

8.4 Infrared

8.5 Others

 

9. Smart Assault Rifle Market, By Platform

9.1 Air

9.2 Land

9.3 Naval

 

10. Smart Assault Rifle Market, by Product

10.1 Telescopic Sight

10.2 Collimating Optical Sight

10.3 Reflex Sight

10.4 Missiles

10.5 Munitions

10.6 Guided Projectiles

10.7 Guided Rockets

10.8 Precision Guided Firearms

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2    Canada

11.2.3    Mexico

11.3        Europe

11.3.1    Germany

11.3.2    UK

11.3.3    France

11.3.4    Italy

11.3.5    Spain

11.3.6    The Netherlands

11.3.7    Rest of Europe

11.4        Asia-Pacific

11.4.1    Japan

11.4.2    South Korea

11.4.3    China

11.4.4    India

11.4.5    Australia

11.4.6    Rest of Asia-Pacific

11.5        The Middle East & Africa

11.5.1    Israel

11.5.2    UAE

11.5.3    South Africa

11.5.4    Rest

11.6        Latin America

11.6.1    Brazil

11.6.2    Argentina

11.6.3    Rest of Latin America

 

12. Company Profiles

12.1 Lockheed Martin Corporation

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.1 Raytheon Technologies Corporation

12.2 BAE Systems, PLC

12.3 The Boeing Company

12.4 L-3 Communications Holdings, Inc.

12.5 MBDA, Inc.

12.6 General Dynamics Corporation

12.7 Orbital ATK

12.8 Thales Group

12.9 Textron Inc

12.10Rheinmetall Ag

 

13. Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

 

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content-specific facts that can be sued to solve specific problems. Since the collected data is fresh and first-hand therefore it makes the study more accurate and genuine.

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Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses, and observation of on-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.

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