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Precision Guided Munition Market Growing At a CAGR of Nearly More Than 9%, Globally During The Forecast Period 2023-2027: Northrop Grumman, Lockheed Martin Corporation, Boeing, BAE Systems
Precision Guided Munition Market
As per the precision guided munition market report by The Business Research Company, the increase in military expenditure is significantly driving the growth of the precision-guided munition market. The military refers to the armed forces of any country that help maintain peace and stability in the country. Military expenditure is more focused on military modernization programs and the increase in the need for precision-guided munition to minimize collateral damage and increase lethality against the target, thereby promoting the adoption of precision-guided munition. For instance, according to the Stockholm International Peace Research Institute (SIPRI), in 2020, global military expenditure rose to $2 trillion, an increase of 2.6% from 2019.
The global precision guided munition market size grew from $32.74 billion in 2022 to $36.87 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The precision guided munition market size is expected to grow to $52.55 billion in 2027 at a CAGR of 9.3%.
Read More On The Precision Guided Munition Market Report Here:
https://www.thebusinessresearchcompany.com/report/precision-guided-munition-global-market-report
Major competitors in the precision guided munition market include Northrop Grumman, Lockheed Martin Corporation, Boeing, BAE Systems, General Dynamics Corporation, Thales Group, L3 Harris Technologies Inc., Leonardo S.p.A, Elbit Systems Ltd., Saab AB, Israel Aerospace Industries.
The precision guided munition market is segmented -
• By Product: Tactical Missiles, Guided Rockets, Guided Ammunition, Torpedoes, Loitering Munitions
• By Technology: Infrared, Semi Active Laser, Inertial Navigation System (INS), Global Positioning System (GPS), Radar Homing, Anti-Radiation
• By Launch Platform: Land, Airborne, Naval
• By Mode of Operation: Semi-Autonomous, Autonomous
• By Speed: Subsonic, Supersonic, Hypersonic
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the precision guided munition market.
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The precision-guided munition market consists of sales of autonomous long range artillery munition, loitering munitions, aircraft self-protection missile, and digital guided missiles. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The Table Of Content For The Precision Guided Munition Market Include:
1. Executive Summary
2. Precision Guided Munition Market Characteristics
3. Precision Guided Munition Market Trends And Strategies
4. Precision Guided Munition Market - Macro Economic Scenario
5. Precision Guided Munition Market Size And Growth
6. Precision Guided Munition Market Segmentation
.............................
27. Precision Guided Munition Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Precision Guided Munition Market
29. Precision Guided Munition Market Future Outlook And Potential Analysis
30. Appendix
The "Global Precision Guided Munition Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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