Precision Guided Munitions Market Will Reach USD 51.20 Billion By 2026: With Top Players: MBDA, Kongsberg Group, Boeing, Israel Aerospace Industries, BAE Systems Plc., etc.

The Global Precision Guided Munitions Market is forecast to reach USD 51.20 Billion by 2026, according to a new report by Reports and Data. The precision-guided munitions are ammunitions designed to hit a target in a precise manner. This reduces the collateral damage exponentially and makes the weapon more lethal. The weapon is depended on its own or external guidance system.

Avail the inside scoop of the Sample report @ https://www.reportsanddata.com/sample-enquiry-form/1544

Companies considered and profiled in this market study
Raytheon Company, Lockheed Martin Corporation, Boeing, Israel Aerospace Industries, BAE Systems Plc., MBDA, Kongsberg Group, Rafael Advanced Defense Systems Ltd., L-3 Technologies Inc., and FN Herstal S.A among others.

The ammunition is launched from submarines, aircraft, land vehicles and ships. It reduces the risk factor of the procedure, all while increasing the cost and complication for the defense segment.

The market for precision-guided munitions is driven by factors such as, an increase in regional conflicts across the globe, increase in terror activities and tactical innovations. Rapid advancement in technology along with high growth in demand for precision guided munitions globally, will induce market growth.

These types of weapons are also known as a smart weapons and/or smart munitions. Rapid advancement in technology has, in a way, eliminated the problem of shooting from moving objects. However, these weapons have extremely complicated guidance systems and are restricted in range, which can limit the growth of the market.

Further key findings from the report suggest

o On the basis of platform, the market is segmented into airborne, land-based, and naval sectors. The airborne platform held a market share of 26% in the year 2018.

o A hypersonic missile is one that travels faster than Mach 5. It is also known as an air-breathing weapon and differs from the intercontinental missiles as it is handled externally.

o Loitering ammunitions has proliferated the market and is used in at least 14 countries. The utilization of such lethal autonomous weapons in countries is an issue of concern and has been a topic of discussion among most organizations.

o Land-based platforms find the most use in precision-guided munitions. It is forecasted have a CAGR of 7.5% followed closely by the naval platforms with a CAGR of 7.2% during the forecast period.

o North America has a large budget for the defense sector. It held a market share of 33% in the year 2018. In the name of security and defense, the world is gearing up with the latest weapons and technologies.

o Military forces across the globe use precision-guided munitions to modernize their military abilities. Tactical missiles have the highest CAGR of 8.0% during the forecast period.

o The constant conflict of the US and Israel with other countries is leading the region to spend more on defense and protecting itself with latest technologies and weapons.

Ask for available discounts on this report by reaching out to us at @ https://www.reportsanddata.com/discount-enquiry-form/1544

For the purpose of this report, Reports and Data have segmented into the global Precision Guided Munitions market on the basis of Product, Speed, Type, Technology, Platform, and Region:

Product Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)
Guided Rockets
Tactical Missiles
Loitering Munitions
Guided Ammunitions
Others

Speed Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)
Hypersonic
Non-Hypersonic

Type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)
Autonomous
Semi-Autonomous

Technology Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)
Infrared
Inertial Navigation System (INS)
Global Positioning System (GPS)
Semi-Active Lasers
Radar Homing
Anti-Radiation
Others

Platform Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)
Airborne
Land-Based
Naval

Regional Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)
North America
Europe
Asia Pacific
MEA
Latin America

Browse Table of Contents with Facts and Figures of Precision Guided Munitions Market Report at: https://www.reportsanddata.com/report-detail/precision-guided-munitions-market

This type of missile or bomb is an artillery shell that is equipped with a terminal guidance system. The electrical system in the device guides it to the last phase until the impact. The guidance unit is designed in such a way that it can sense electromagnetic radiation that is reflected or emitted within its view.

Key selling points of this research study
1. The study gives an in-depth evaluation of the evolving competitive scenario that gives the reader/client a competitive edge.

2. It offers a holistic view of all critical aspects boosting or limiting the growth of the sector

3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.

4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.

Contact Us:

John Watson
Head of Business Development
Reports And Data
40 Wall St. 28th floor New York City, NY 10005 United States
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Reports and Data | Web: www.reportsanddata.com

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

This release was published on openPR.