Guided Projectile Market is Forecasted to Reach US$ 2.1 Billion in 2028, Says Stratview Research

The global guided projectile market is projected to reach US$ 2.1 billion by 2028, witnessing a market growth CAGR of 5% from 2023 to 2028, according to an analysis by Stratview Research.

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

Click here to get a free sample of the report:
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Market Statistics:
Market Size in 2028: US$ 2.1 billion
Growth (CAGR): 5% during 2023-2028
Leading Size Type: Large shelters
Leading Platform Type: Land-based Platform
Leading Product Type: Rocket
Leading Guidance Type: GPS-guided projectile
Leading Actuation Type: Thrust-based Actuation System
Leading Region: North America
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Guided Projectile Market:

The global Guided Projectile Market is segmented based on Actuation type, Platform type, Product type, Guidance type and region.

Based on Platform Type
"Land-based platform is likely to remain the major demand generator for the guided missiles in the foreseeable future."
• The market is bifurcated into land-based, airborne, and naval-based platforms.
• Among these sub-segments, the land-based platform is likely to garner the majority of the demand for guided projectiles, in the forthcoming years.
• Since the onset of the Russia-Ukraine war in 2022, there has been a greater focus of the defense authorities, across the globe, towards strengthening their land-based warfare capabilities via modernizing their defense systems and through the development of guided projectiles.
• Moreover, the demand for such projectiles is expected to increase with the increasing terror threats and border disputes, globally.

Based on Product Type
"Rocket is expected to remain the dominant and fastest-growing product type in the market during the forecast period."
• The market is segmented into artillery, rockets, and SALW (Small Arms and Light Weapons).
• Among these projectile types, the rockets contribute to the largest market share as they can engage targets at long ranges and considerably reduce collateral damage.
• These weapons can also be launched from various platforms and are equally effective against static or mobile targets. As a result, there is a large production and deployment of guided rockets across the armed forces, globally.

Based on Guidance Type
"GPS-guided projectile is likely to remain the dominant guidance type in the market during the forecast period."
• The market is segmented as GPS-guided projectiles, infrared (IR) guided projectiles, laser-guided projectiles, and others.
• Among these sub-segments, the GPS-guided projectiles account for the dominant share in the market as these are the most preferred projectile systems, across the globe.
• This is largely because the efficiency and operability of these projectiles are not hampered by the weather conditions. In addition, these weapons are also designed to be resilient to jamming.

By Actuation Type
"Thrust-based actuation is expected to contribute the largest share in the guided projectile market."
• The market is segmented into a thrust-based actuation system and a fin-based actuation system.
• As the fin-based actuation systems rely majorly on aerial resistance, they require sufficient air density and surface airflow to maintain the requisite control of the projectile.
• However, these actuation systems cannot function in low air density or exo-atmospheric conditions, due to which, they are less preferred by the projectile manufacturers, thereby occupying a small share in the market.
• Moreover, the thrust-based actuation system is even operational at high altitudes and in thin atmospheres, thus, maintaining the smooth performance of the guided projectiles. As a result, these systems generate the largest demand in the market.

To know the most attractive segments, click here for a free sample of the report:
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Which region shows the most promising growth forecast and opportunity?

The analysis suggests that North America is expected to remain the highest growth for soft wall military shelter during the forecast period. This growth outlook is mainly attributed to the following:
• This is mostly due to the large-scale investments made by the US Department of Defense (DoD) on guided projectiles in recent times coupled with the active presence of major companies such as General Dynamics Corporation, Northrop Grumman, and Raytheon Technologies Corporation, among others, in the region.
• Concurrently, Asia-Pacific is an emerging region in the global market, backed by the immense growth in the military expenses of China and India, the two regional superpowers, in recent years.

Guided Projectile Market Drivers:

Some of the key drivers listed in the report are given below.
· Ever since the beginning of the Russia-Ukraine war, there have been several new investments, contracts, and agreements in the defense industry directed at guided projectiles in Europe.
· Similarly, the ongoing border conflicts in the Asian continent, such as that of India-Pakistan, India-China, China-Taiwan, and North Korea-South Korea increase the demand for these sophisticated guided munitions. As a result, there has been a relentless growth in the demand for guided projectiles in recent times.
· With the increasing number of global military operations, the guided projectile market has witnessed a colossal improvement over the years.
· Also, there has been a large procurement and deployment of guided projectiles across the ground, airborne, and naval forces across the globe, thus strengthening the military power of the countries.

Competitive Landscape: Top 10 Companies in the Guided Projectile Market:

The market is moderately fragmented, with over 20 players. Most of the major players compete on some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:
· General Dynamics Corporation.
· Northrop Grumman
· BAE Systems
· Raytheon Technologies Corporation
· Boeing

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the 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

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