Smart Weapons Market is Forecasted to Reach US$ 28.04 Billion in 2028, Says Stratview Research

The global smart weapons market is projected to witness a growth rate of 7.8% annually from 2022 to 2028 with an anticipated size of US$ 28.04 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global smart weapons market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 28.04 billion
Growth (CAGR): 7.8% during 2022-2028
Forecast Period: 2022-2028
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Smart Weapons Market:

The global smart weapons market is segmented based on type, technology type, platform type, and region.

Based on type - The smart weapons market is divided into missiles, munitions, guided rockets, guided projectiles, precision-guided firearms and others. The missiles segment held the largest share of the market in 2021 owing to the increasing demand for missiles from the defense forces. The munitions segment is expected to grow at the fastest rate owing to growing demand for next-generation precision-guided munitions.

Based on technology type - The smart weapons market is segmented into satellite guidance, radar guidance, infrared guidance, laser guidance, and others. The laser guidance segment is projected to show continued demand in the near future due to its high accuracy, reliability and quick-hit capability. The satellite guidance segment is projected to grow at an exponential rate during the forecast period owing to the rising demand for GPS-guided smart weapons that can operate smoothly even during bas weather conditions.

Based on platform type - The market is segmented into land, maritime, and airborne. The land segment is expected to grow at the fastest CAGR during the forecast period due to the rapid expansion of military forces across the world along with a rise in the procurement of smart weapons by land-based forces. The airborne segment is expected to grow at a rapid rate in the near future.

To know the most attractive segments, click here:
https://stratviewresearch.com/2909/smart-weapons-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America was the largest smart weapons market in 2021 and is forecast to lead the market during the forecast period. This growth outlook is majorly attributed to the following:

• This is due to the high defense budget, technological advancements, favorable regulations, and presence of key manufacturers in the region.

However, Asia-Pacific is expected to witness the fastest demand growth by 2028 owing to the surge in investments in the defense sector, rise in terrorism activities, and unstable socio-political scenarios in the region. Further, emerging economies such as India and China are also investing heavily in smart weapons, apart from modernizing their existing military equipment.

Smart Weapons Market Drivers:

Some of the key drivers listed in the report are given below.

• Demand for precision strike weapons that reduce collateral damage and constant fear of national security across many unstable economies of the world.
• A constant rise in the defense budget of many countries along with an increased spending on the upgrade of weapons technology are some of the prominent factors that boost market demand.

Top Companies in the Smart Weapons Market:

Stratview Research has identified the following companies as the top market players.
• Lockheed Martin
• MBDA, Inc.
• The Boeing Co.
• BAE Systems
• General Dynamics Corporation
• Orbital ATK
• Textron, Inc.
• Northrop Grumman
• Raytheon Company
• Thales Group
• Rheinmetall AG
• Denel Dynamics
• Israel Aerospace Industries
• Rafael Advanced Defense Systems Ltd
• L3Harris Technologies Inc.
• L-3 Fuzing And Ordnance Systems Inc.
• Alliant Techsystems Inc.
• Diehl Stiftung & Co. KG, General Dynamics
• United Technologies Corporation
• China Aerospace Science & Industry Corp.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Smart Weapons Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Guided Missile Market: https://stratviewresearch.com/3777/guided-missile-market.html
• Anti-tank Missile System Market: https://stratviewresearch.com/3011/anti-tank-missile-system-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.