Precision Guided Munition Market Witness Vigorous Expansion And Upcoming Trends Forecast by 2025 | Top Players: Lockheed Martin Corporation, BAE System, Raytheon, Northrop Grumman, Elbit Systems, Saab AB among Others

A recent report published by QMI on precision guided munition market is a detailed assessment of the most important market dynamics. After carrying out thorough research of precision guided munition market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for precision guided munition during the forecast period. It can enable manufacturers of precision guided munition to change their production and marketing strategies in order to envisage maximum growth.

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According to the report, the global precision guided munition market is estimated to register substantial growth during the forecast period owing to increasing demand from various applications during the forecast period.

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
Segmentation for better understanding of this market and its growth prospects:

Based on the product, it is segmented into tactical missiles, guided rockets, guided ammunition, loitering munition. There has been significant growth in the demand and usage of loitering munition as they can function autonomously searching and launching attacks without human intervention, which has drastically reduced the number of rounds required to defeat a particular target.

By technology, it is classified into infrared, semi-active lasers, radar homing, Global Positioning System (GPS), Inertial Navigation System (INS), anti-radiation, and others. By type, it is segmented into, autonomous and semi-autonomous.

Factors that will have a significant impact on the market growth are:
o It reduces the collateral damage exponentially and is more lethal
o The increase in terror activities, regional disputes, and tactical innovations

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Important Developments:
o In February 2019, BAE Systems received a contract that was worth USD 114.5 million from the US Navy in order to modernize the guided-missile destroyer, USS Bulkeley (DDG 84) in its Norfolk shipyard.
o In February 2019, IAI launched Mini Harpy, which is a newly-developed loitering munition for the first time at Aero India Exhibition in Bangalore, India. It is a tactical system designed specifically for field or marine units and can be launched from land, marine, and airborne Products.
o In January 2019, Javelin, a joint venture company, was awarded a production contract for 2,100 F-Model (FGM-148F) missiles.
o In November 2018, Lockheed Martin received a contract worth USD 25.5 million from the Missile Defense Agency for the development of its Low Power Laser Demonstrator (LPLD) missile interceptor concept.
o In October 2018, Raytheon Company and Saab signed a contract with the US Army to demonstrate a laser-guided munition to be used with the Carl-Gustaf man-portable shoulder-fired launcher
Insights about regional distribution of market:
The market has been segmented in major regions to understand the global development and demand patterns of this market. For precision guided munition market, the segments by region are for North America, Asia Pacific, Western Europe, Eastern Europe, Middle East, and Rest of the World. During the forecast period, North America, Asia Pacific, and Western Europe are expected to be major regions on the precision guided munition market.

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North America and Western Europe have been dominant players in this market with the presence of major companies that have a strong infrastructure to boost the aerospace & defense sector. In addition, some of the major countries like the US, France, UK, and Canada have been global exporters of aerospace & defense technologies due to established research & development centers, and others. Also, some of the major companies operating in precision guided munition market are headquartered in these regions.

The Asia Pacific region is estimated to register the fastest growing precision guided munition market since some of the major economies like China, India, and South Korea are present in the region. In recent decades, these countries have witnessed strong government spending on defense infrastructure, as well as promoting air transport and space research. During the forecast period, the Middle East region is estimated to be a potential region for the precision-guided munition markets in the aerospace and defense sector. It is estimated that Eastern Europe will have stable demand during the forecast period. Also, the rest of the world is expected to be an emerging market with increasing demand.

Companies Covered: Lockheed Martin Corporation, BAE System, Raytheon, Northrop Grumman, Elbit Systems, Saab AB, General Dynamics, Israel Aerospace Industries, Rheinmetall AG, LIG Nex1, NORINCO, and Bharat Dynamics.
Market Segmentation:

By Product:
o Tactical Missiles
o Guided Rockets
o Guided Ammunition
o Loitering Munition

By Technology:
o Infrared
o Semi-active Lasers
o Radar Homing
o GPS
o INS
o Anti-radiation

By Type:
o Autonomous
o Semi-Autonomous

By Region:

o North America
o By Country (US, Canada, Mexico)
o By Product
o ByTechnology
o By Type

o Western Europe:
o By Country (Germany, UK, France, Spain, Rest of Western Europe)
o By Product
o By Technology
o By Type

o Eastern Europe:
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Product
o By Technology
o By Type

o Asia Pacific
o By Country (China, Japan, India, Rest of Asia Pacific)
o By Product
o By Technology
o By Type

o Middle East:
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Product
o By Technology
o By Type

o Rest of the World
o By Region (Latin America, Brazil, Rest of the World)
o By Product
o By Technology
o By Type

Reasons To Buy This Report:

o Market size estimation of the global precision-guided munitions market on a regional and global basis
o The unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:
o By Segment
o By Sub-segment
o By Region/Country

Contact:

Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: APAC +91 706 672 4848 / US +1 208 405 2835 / UK +44 121 364 6144
Email: sales@quincemarketinsights.com
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This release was published on openPR.