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Precision Guided Munition Market Exhibit Strong Growth owing to Rising Defense Budgets and Shift Towards Asymmetric Warfare
Precision Guided Munition Market
The SNS Insider report forecasts that the precision guided munition market will experience a compound annual growth rate (CAGR) of 5.4% during the period from 2023 to 2030, with its value projected to rise from USD 36.67 billion in 2022 to USD 55.86 billion in 2030.
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The Major Key Company Profiles included in Precision Guided Munition market study are:
Northrop Grumman Corporation
Elbit Systems Ltd.
Israel Aerospace Industries Ltd.
KONGSBERG
Raytheon Technologies Corporation
Lockheed Martin Corporation
BAE Systems
General Dynamics Corporation
Saab AB
Precision-guided munitions (PGMs) represent a paradigm shift in modern warfare, revolutionizing the way military operations are conducted. These advanced munitions are designed to significantly enhance accuracy and reduce collateral damage, minimizing the risk to civilians and friendly forces.
Market Analysis
The global geopolitical landscape remains uncertain, and nations are prioritizing their defense capabilities to counter potential threats. As a result, defense budgets are on the rise in many countries. Governments are investing heavily in modernizing their military arsenals to maintain a strategic advantage. Precision guided munitions are an integral part of this modernization process, as they offer higher operational efficiency and cost-effectiveness compared to conventional munitions. The surge in defense spending is expected to drive demand for precision guided munition market.
Impact of Recession
While the precision guided munition market is highly advanced and critical to modern military capabilities, it remains vulnerable to economic downturns such as recessions. The key to weathering such challenges lies in adaptability, innovation, and strategic planning. By taking proactive measures, defense manufacturers can navigate through the tough times and emerge stronger when the global economy rebounds.
Segmentation Analysis
The precision guided munition market is experiencing a paradigm shift, with the subsonic and airborne segments taking center stage. Advancements in guidance systems, autonomous technologies, and propulsion systems have transformed modern warfare, enabling militaries to achieve unparalleled precision and strategic advantages. As these segments continue to dominate the precision-guided munition market, their impact on global security and defense strategies will remain profound, shaping the future of modern warfare in the years to come.
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The Precision Guided Munition Market Segments and Sub-Segments are Listed Below:
By Speed
Subsonic
Supersonic
Hypersonic
By Product
Tactical Missiles
Guided Rockets
Guided Ammunition
Torpedoes
Loitering Munitions
By Technology
Infrared
Laser
Inertial Navigation System (INS)
Global Positioning System (GPS)
Radar Homing
Anti-radiation
By Mode of Operation
Autonomous
Semi-autonomous
By Launch Platform
Land
Airborne
Naval
Regional Status & Analysis
The Asia Pacific region's ascendancy in the precision guided munition market is a reflection of its commitment to enhancing defense capabilities, technological advancements, and rising geopolitical tensions. With an ever-increasing demand for accurate and reliable munitions across air, land, and sea domains, Asia Pacific nations are well-positioned to lead the global market. As the geopolitical landscape continues to evolve, the region's dominance in the market is likely to endure, shaping the future of modern warfare in the 21st century.
Conclusion
The market is set to experience robust growth in the coming years due to technological advancements, increased defense budgets, and the evolving nature of modern warfare. As nations seek to strengthen their military capabilities and address asymmetric threats with minimal collateral damage, the demand for precision guided munitions will continue to soar.
Frequently Asked Questions/ Key Reasons to Purchase this Report
>What is the projected outlook for precision guided munition market growth?
Ans- The market is projected to surpass a value of USD 55.86 billion by the year 2030.
>What are the major factors influencing the precision guided munition market?
Ans- As international laws and public sentiments increasingly emphasize the importance of protecting civilians during armed conflicts, the demand for precision-guided munitions is likely to rise.
>Who are the leading players in the precision guided munition market?
Ans- Northrop Grumman Corporation, KONGSBERG, Raytheon Technologies Corporation, Elbit Systems Ltd., Israel Aerospace Industries Ltd., BAE Systems, General Dynamics Corporation.
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Table of Contents - Major Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Precision Guided Munitions Market Segmentation, By Speed
9. Precision Guided Munitions Market Segmentation, By Product
10. Precision Guided Munitions Market Segmentation, By Technology
11. Precision Guided Munitions Market Segmentation, By Mode of Operation
12. Precision Guided Munitions Market Segmentation, By Launch Platform
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion
Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
About US:
SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.
We assist our clients to anticipate industrial, economic, and consumer trends to drive disruptive change by fusing global experience with local information from experts throughout the world. We bring context to strategic and tactical data by bridging approaches based on data science and field research, assisting you in addressing your most pressing problems and spotting possibilities.
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