Press release
Global Smart Weapons Market: Rising Demand, Key Drivers, and Market Projections
Smart Weapons Market
What Is The Projected Market Size Of The Global Smart Weapons Market And Its Growth Rate?
The global smart weapons market has experienced significant growth in recent years and this trend is set to continue. Here are some key statistics:
• The market size was $17.36 billion in 2024.
• It is forecasted to grow to $20.02 billion in 2025, at a CAGR of 15.3%.
• Key drivers for this growth include export and international sales, increasing demand for precision-guided munitions (PGMs), multi-role weapons, electronic warfare, and interoperable weapons systems.
• The market is projected to reach $35.82 billion by 2029, growing at a CAGR of 15.7%, driven by counter-terrorism efforts, defense budget allocations, cybersecurity integration, modernization of armed forces, and rising demand for precision strike weapons.
What Is Driving The Growth In The Smart Weapons Market?
Increasing global and regional instability is a significant driver of the smart weapons market. This instability, marked by political upheavals in neighboring countries, are pushing nations to adopt smart weapons for their defense. According to Stockholm International Peace Research Institute report in May 2023, 64 multinational peace operations were carried out in 38 nations and territories in 2022, which was more than any year over the previous decade. By the end of 2022, the number of international personnel serving in multilateral peace operations worldwide rose by 2.79% from the previous year. These developments indicate a growing need for smart weapons in ensuring national and regional security.
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Who Are the Key Players Driving Smart Weapons Market Growth?
Major players 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
What Are The Key Trends In The Smart Weapons Market?
The forecast period will see the rise of several important trends in the smart weapons market:
• Usage of artificial intelligence (AI) and machine learning (ML)
• Miniaturization and increased autonomy
• Development of directed energy weapons (DEW)
• Advancements in counter-drone and counter-missile systems
• Effective human-machine teaming and decision support
What Are The Segments Of The Global Smart Weapons Market?
Segments of the global smart weapons market include:
• 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
Which Region Leads The Smart Weapons Market?
North America held the largest share in the smart weapons market in 2024 and is expected to be the fastest-growing region in the forecast period. The report also covers other regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Smart Weapons Market Global Market Report?
- Market Size Analysis: Analyze the Smart Weapons Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Smart Weapons Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Smart Weapons Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Smart Weapons Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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