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Guided Munitions Market 2018-2023 | Worldwide Overview By Lockheed Martin, Raytheon, Boeing, BAE, IAI, MBDA, Rafael, Kongsberg, Northrop Grumman, L-3 and FN Herstal

11-06-2018 06:24 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Research Future

Guided Munitions

Guided Munitions

Guided Munitions Market by Product (Missiles, Rockets, Projectiles, Arms, Loitering Weapons, Others), Technology (Laser, Infrared, Radar, GPS, Others), Platform (Airborne, Land-based, Naval), & Region – Forecast till 2023

The key players in global guided munitions market are Lockheed Martin Corporation (U.S.), Raytheon Company (U.S.), Boeing (U.S.), BAE Systems Plc. (U.K), Israel Aerospace Industries (Israel), MBDA (France), Rafael Advanced Defense Systems Ltd (Israel), Kongsberg Group (Norway), Northrop Grumman Corporation (U.S.), L-3 Technologies Inc. (U.S.), and FN Herstal S.A (Belgium).

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Market Scenario

Guided munitions, also known as smart weapons, smart munitions, or guided ammunition, can be aimed and directed at single or multiple targets. It relies either on external guidance or its own guidance systems. It can be launched from aircraft, ships, submarines, and land vehicles. Many military programs are focusing on precision ammunition, especially on PG (precision guided) kits, artillery munitions, and other anti-tank and standoff weapons with a Low Rate Initial Production (LRIP). Significant investments have been made on the development of technological advancements with ongoing R&D, which should lead to rapid growth of the market during the forecast period. However, major restraints of the market are the extremely complicated weapon guidance systems and restricted range of maneuverability.

The increased focus on developing autonomous weapons and countering terror activities will offer new growth opportunities for the market players. Some of the factors that are responsible for the growth of the global guided munitions market are the increasing regional conflicts across the globe, rising terrorist activities, and increased use of smart weapons.

Furthermore, there were several contracts and agreements that have resulted in the growth of the market. For example, in 2018, Lockheed Martin signed a contract with the U.S. Navy, for follow-on production of Enhanced Laser Guided Training Rounds to support the Paveway II Laser Guided Bomb (LGB) weapons training. In the same year, Raytheon Company signed a contract with the U.S. Navy to integrate precision-guided standoff weapon into the F-35 Joint Strike Fighter’s C variant. During the same period, L&T MBDA Missile Systems Ltd signed a contract with the Indian Armed Forces, under the ‘Make in India’ initiative to indigenously design, manufacture, and supply highly advanced guided weapon systems. Similarly, in 2014, Boeing signed a contract with the U.S. Air Force, to manufacture arming devices for air-launched cruise missile (ALCM), a long-range subsonic, self-guided missile.

The global guided munitions market is segmented by product, technology, platform, and region. By product, the guided missiles are the most widely used guided munitions, and they accounted for the largest market share in 2017, due to the rising demand for guided missiles for tactical operations. In terms of technology based on guided munitions, the infrared segment is estimated to have the largest demand in the market during the forecast period, because of the rising demand for technologically advanced autonomous weapons. Among the platforms, the land-based guided munitions segment are most widely used and had the largest market share in 2017, due to the high demand for anti-tank missile systems by the military forces, globally.

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. North America is expected to dominate the market in 2023, due to the rising counter terrorist activities and various military equipment modernization programs. In Europe, there has been an increased procurement of smart weapons by developed countries, such as Germany, the U.K, and France, as a result of which the region is estimated to trail North America, during the forecast period.

Thus, the global guided munitions market is estimated to witness a CAGR of 5%, during 2018 to 2023.

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Scope of Report

The report for Global Guided Munitions Market of Market Research Future comprises extensive primary research, along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders; it helps the reader gain a deeper insight into the market and industry performance. The report gives a clear picture of current market scenario, including historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also contains a broad study of the different market segments and regions.

Table Of Contents

1 Executive Summary

2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model

3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends

Continued.......

List Of Tables

Table 1 Global Guided Munitions Market: By Region, 2018-2023
Table 2 North America Global Guided Munitions Market: By Country, 2018-2023
Table 3 Europe Global Guided Munitions Market: By Country, 2018-2023
Table 4 Asia Pacific Global Guided Munitions Market: By Country, 2018-2023
Table 5 Middle East & Africa Global Guided Munitions Market: By Country, 2018-2023
Table 6 Latin America Global Guided Munitions Market: By Country, 2018-2023
Table 7 Global Guided Munitions Market, By Product, By Regions, 2018-2023
Table 8 North America Global Guided Munitions Market, By Product, By Country, 2018-2023
Table 9 Europe Global Guided Munitions Market, By Product, By Country, 2018-2023
Table 10 Asia Pacific Global Guided Munitions Market By Product, By Country, 2018-2023

Continued......

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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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