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Smart Weapons Market Analysis, Trends, Growth, Research And Forecast 2032
Smart Weapons Market
The Business Research Company's Smart Weapons Global Market Report 2023 identifies the increasing global and regional instability is driving the growth of the smart weapons market. Transnational and regional instability refers to the political instability in neighbouring countries. Many countries have adopted smart weapons to protect themselves from rising regional instability and to protect themselves from threats by neighbouring countries.
The global smart weapons market size grew from $13.77 billion in 2022 to $15.2 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of smart weapons is expected to grow to $21.11 billion in 2027 at a CAGR of 8.6%.
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Major competitors in the smart weapons market are Lockheed Martin, MBDA, Inc., Orbital ATK, General Dynamics Corporation, BAE Systems, The Boeing Co., Textron, Inc., MBDA, Northrop Grumman, Raytheon Company, Rheinmetall AG, Thales Group, Israel Aerospace Industries, Denel Dynamics, Rafael Advanced Defense Systems Ltd. BAE Systems, L-3 Fuzing And Ordnance Systems Inc., L3Harris Technologies Inc., Alliant Techsystems Inc.
A key trend in the smart weapons market includes increasing strategic partnerships and collaborations. For instance, in February 2021, German automotive and arms manufacturer Rheinmetall Denel Munition and American aerospace and defense technology company Northrop Grumman signed a ten-year deal to develop ammunition technologies for future artillery operations. By equipping 155mm artillery rounds with an integrated M1156 precision guidance kit, the agreement focuses on precision-guided enhanced range artillery ammunition solutions (PGK).
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The smart weapons market is segmented -
• By Type: Air-to-ground Missiles, Surface-to-air Missiles, Smart Bombs, Sensor Fused Weapons, Directed Energy Weapons, Precision Artillery Munitions, Electromagnetic Pulse Weapons, Smart Bullets, Other Smart Weapons
• By Platform: Air, Naval, Land
• By Technology: Laser Guidance, Infrared Guidance, Radar Guidance, Satellite Guidance
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the smart weapons market.
The Business Research Company's "Global Smart Weapons Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Smart Weapons Market Include:
1. Executive Summary
2. Smart Weapons Market Characteristics
3. Smart Weapons Market Trends And Strategies
4. Smart Weapons Market - Macro Economic Scenario
5. Smart Weapons Market Size And Growth
……
26. Africa Smart Weapons Market
27. Smart Weapons Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Weapons Market
29. Smart Weapons Market Future Outlook and Potential Analysis
30. Appendix
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