Smart Weapons Market Report 2024: Strategies And Recent Developments | Lockheed Martin Corporation, MBDA Incorporated, Orbital ATK Inc., General Dynamics Corporation

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The Business Research Company offers in-depth market insights through Smart Weapons Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The smart weapons market size has grown strongly in recent years. It will grow from $15.04 in 2023 to $16.52 in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to export and international sales, growing demand for precision-guided munitions (PGMs), growing demand for multi-role weapons, focus on electronic warfare and countermeasures, demand for interoperable weapons systems.

The smart weapons market size is expected to see strong growth in the next few years. It will grow to $23.31 in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to counter-terrorism efforts, budget allocations for defense, cybersecurity integration, modernization of armed forces, rising demand for precision strike weapons. Major trends in the forecast period include artificial intelligence (AI) and machine learning (ml), miniaturization and increased autonomy, directed energy weapons (dew), counter-drone and counter-missile systems, human-machine teaming and decision support.

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Market Segmentation:
The main types of smart weapons include air-to-ground missiles, surface-to-air missiles, smart bombs, sensor-fused weapons, directed energy weapons, precision artillery munitions, electromagnetic pulse weapons, smart bullets, and other smart weapons. Air-to-ground missiles refer to missiles fired from military aircraft to hit ground targets on land, at sea, or both. The different smart weapons technologies include laser guidance, infrared guidance, radar guidance, and satellite guidance used on platforms including air, naval, and land.

Major Driver - Evolving Global And Regional Instability Fueling Smart Weapons Market Growth
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 neighboring countries. Many countries have adopted smart weapons to protect themselves from rising regional instability and to protect themselves from threats by neighboring countries. For instance, in May 2023, according to a report published by Stockholm International Peace Research Institute, a Sweden-based nonprofit organization supporting the use of digital technology in the academic community, 64 multinational peace operations were carried out in 38 nations and territories worldwide in 2022. This was more procedures performed than in any year over the previous ten years combined. As of the end of 2022, there were 114 984 international personnel serving in multilateral peace operations across the globe, up 2.79 percent from the previous year. Therefore, the increasing transnational and regional instability drives the smart weapons market.

Competitive Landscape:
Major companies operating in the smart weapons market include Lockheed Martin Corporation, MBDA Incorporated, Orbital ATK Inc., General Dynamics Corporation, BAE Systems plc., The Boeing Company, Textron Inc., Northrop Grumman Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Thales Group, Israel Aerospace Industries Ltd., Denel SOC Ltd., Rafael Advanced Defense Systems Ltd., L3Harris Technologies Inc., Alliant Techsystems Inc., Leonardo-Finmeccanica, Saab AB, Aselsan A.S., Diehl Stiftung & Co. KG, OTO Melara S.P.A, United Technologies Corporation., China Aerospace Science and Industry Corporation Limited., The ExOne Company, Höganäs AB, MTU Aero Engines AG

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Top Trend - Growing Emphasis On Strategic Collaborations In The Smart Weapons Market
Increasing strategic partnerships and collaborations is a key trend gaining popularity in the smart weapons market. 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).

The Table Of Content For The Market Report 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
…..
27. Smart Weapons Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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