US Precision Guided Munitions Market | Growth, Trends & Key Players 2024-2031 | BAE Systems, Inc., L3Harris Technologies, Inc., Boeing Defense.

The US Precision Guided Munitions Market reached US$ 6.23 billion in 2023 and is expected to reach US$ 9.82 billion by 2031, growing with a CAGR of 5.85% during the forecast period 2024-2031.

Us Precision Guided Munitions Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The US Precision Guided Munitions Market focuses on advanced weapons equipped with targeting systems like GPS, laser guidance, and infrared tracking for high-accuracy strikes. These munitions enhance military effectiveness while minimizing collateral damage. Market growth is driven by rising defense budgets, advancements in AI-powered targeting, and increasing demand for next-generation missile and artillery systems.

List of the Key Players in the Us Precision Guided Munitions Market:

Lockheed Martin Corporation, Raytheon Technologies Corporation, Northrop Grumman Corporation, General Dynamics Corporation, BAE Systems, Inc., L3Harris Technologies, Inc., Boeing Defense, Space & Security, Harris Corporation, Textron Systems Corporation and AeroVironment, Inc.

Industry Development:

In January 2024, the U.S. Department of Defense (DoD) requested a $315 billion budget for FY 2024, allocating $15.1 billion to Large Lot Procurement (LLP) for precision-guided missile systems. This funding supports key programs, including the RIM-174 SM-6, AIM-120D AMRAAM, and AGM-158C LRASM, with a focus on enhancing missile capabilities and streamlining production.

In January 2024, the DoD introduced an expanded Multiyear Procurement (MYP) strategy for precision-guided munitions, incorporating Economic Order Quantities (EOQ) to optimize production and delivery schedules. Covering four key missile systems, this initiative aims to boost manufacturing capacity, lower unit costs, and ensure a steady supply to meet evolving defense requirements.

Growth Forecast Projected:

The Us Precision Guided Munitions Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the Us Precision Guided Munitions Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Us Precision Guided Munitions Market:

By Type: Air-Launched Munitions, Ground-Launched Munitions, Naval-Launched Munitions, Submarine-Launched Munitions.

By Guidance System: GPS Guided, Laser Guided, Infrared Guided, Electro-optical Guided, Radar Guided, Combination of Guidance Systems.

By Platform: Unmanned Aerial Vehicles (UAVs), Ground Vehicles, Naval Platforms.

By End-User: Military, Air Force, Navy, Others.

By Application: Anti-Aircraft, Anti-Ship, Anti-Tank, Surface-to-Surface, Precision Strikes, Training Simulators, Others.

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Us Precision Guided Munitions market?

➠ Who are the leading manufacturers in the Us Precision Guided Munitions industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the Us Precision Guided Munitions industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Us Precision Guided Munitions market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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