Top Factor Driving Precision Guided Munition Market Growth in 2025: Increase In Military Expenditure Drives The Precision-Guided Munition Market

Which drivers are expected to have the greatest impact on the over the precision guided munition market's growth?
The surge in defense spending is a key catalyst fueling the expansion of the precision-guided munition market. The military-encompassing a nation's armed forces that ensure its peace and stability-is primarily directing its spending toward modernization efforts and the growing demand for precision-guided munition. These munitions can effectively reduce incidental damage and enhance lethality against targets, which incentivizes their widespread adoption. As provided by The House of Commons Library, an informational resource linked to the lower house of the British Parliament, the UK's 2023/24 fiscal year allocated $68.8 billion (£54.2 billion) for defense expenditures. This figure is anticipated to climb to £57.1 billion ($70.74 billion) in 2024/25, marking a real-term growth of 4.5%. Thus, the escalation in defense spending is predicted to boost the precision-guided munition market's growth.

Get Your Precision Guided Munition Market Report Here:
https://www.thebusinessresearchcompany.com/report/precision-guided-munition-global-market-report

What is the future CAGR of the precision guided munition market, and how will it impact industry expansion?
Rapid expansion has been witnessed in the size of the precision guided munition market in past few years. The market is forecasted to rise from a value of $39.07 billion in 2024 to an estimated $43.12 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.4%. Reasons for this historical growth are primarily due to modernization efforts within the military, a requirement for precision, larger defense budgets, improvements in targeting and guidance technology, escalating global conflicts and actions taken against terrorism, and a need for minimizing incidental harm.

The market of precision guided munitions is predicted to witness robust growth in the upcoming years, with an expected valuation of $63.1 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 10.0%. This growth during the forecasted period can be credited to the incorporation of artificial intelligence for improved precision, increasing asymmetric warfare and counter-insurgency, mission-specific custom munitions, the expansion of unmanned aerial vehicle (uav) warfare and the growing use in maritime and naval operations. The forecast period is also expected to see key trends such as smart munitions featuring enhanced target recognition, precision munition deployment regulations, incorporation of electromagnetic and cyber warfare, munitions' miniaturization and extended loiter time, and modular munition frameworks for multi-role capabilities.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5819&type=smp

What are the most significant trends transforming the precision guided munition market today?
Prominent corporations in the precision-guided munition field are focusing their efforts on creating new technological innovations, including guided high-explosive ammunition, in order to fulfill the needs of their customers and fortify their position in the market. This type of ammunition comes with precision guidance systems, allowing for accurate and selective targeting and striking, while also lowering the risk of unintended damage by delivering the high-explosive payload accurately. For instance, Northrop Grumman Corporation, an aerospace and defense organization based in the US, was awarded a contract by the US Navy in October 2023 to work on its newly developed 57mm guided high explosive ammunition. The firm will be conducting tests on the munition and further improving it for qualification, aspiring to utilize it with the Mk110 Naval Gun Mount.

Which key market segments comprise the precision guided munition market and drive its revenue growth?
The precision guided munition market covered in this report is segmented -

1) By Product: Tactical Missiles, Guided Rockets, Guided Ammunition, Torpedoes, Loitering Munitions
2) By Technology: Infrared, Semi Active Laser, Inertial Navigation System (INS), Global Positioning System (GPS), Radar Homing, Anti-Radiation
3) By Launch Platform: Land, Airborne, Naval
4) By Mode of Operation: Semi-Autonomous, Autonomous
5) By Speed: Subsonic, Supersonic, Hypersonic

Subsegments:
1) By Tactical Missiles: Air-to-Ground Missiles, Surface-to-Air Missiles, Anti-Ship Missiles, Anti-Tank Missiles
2) By Guided Rockets: Surface-Launched Rockets, Air-Launched Rockets
3) By Guided Ammunition: Precision-Guided Artillery Shells, Guided Mortar Rounds, Smart Bombs
4) By Torpedoes: Lightweight Torpedoes, Heavyweight Torpedoes
5) By Loitering Munitions: Fixed-Wing Loitering Munitions, Rotary-Wing Loitering Munitions

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5819

What regions are at the forefront of precision guided munition market expansion?
Asia-Pacific was the largest region in the precision-guided munition market in 2024. The regions covered in the precision guided munition market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the leading players fueling growth in the precision guided munition market?
Major companies operating in the precision guided munition market include Northrop Grumman Corporation, Lockheed Martin Corporation, The Boeing Company, BAE Systems plc, General Dynamics Corporation, Thales Group, L3Harris Technologies Inc., Leonardo S.p.A., Elbit Systems Ltd., Saab AB, Israel Aerospace Industries Ltd., Rheinmetall AG, Bharat Dynamics Limited, Denel Dynamics a division of Denel SOC Ltd., LIG Nex 1 Co. Ltd., Rafael Advanced Defense Systems Ltd., Kongsberg Gruppen ASA, Roketsan A.S., China Aerospace Science and Industry Corporation, China North Industries Group Corporation Limited, Hanwha Defense Co. Ltd., Taurus Systems GmbH, Diehl Defence GmbH & Co. KG, Nexter Systems S.A., Raytheon Technologies Corporation, Aerojet Rocketdyne Holdings Inc., Precision Guided Solutions LLC, Textron Inc.

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=5819&type=smp

What Is Covered In The Precision Guided Munition Global Market Report?

•Market Size Forecast: Examine the precision guided munition market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the precision guided munition market for a structured understanding.
•Key Players Overview: Analyze major players in the precision guided munition market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the precision guided munition market.
•Segment Contributions: Evaluate how different segments drive overall growth in the precision guided munition market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the precision guided munition market.
•Industry Challenges: Identify potential risks and obstacles affecting the precision guided munition market.
•Competitive Landscape: Review strategic developments in the precision guided munition market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.