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The Global Precision-Guided Munitions Market size was valued at USD 36.7 billion in 2023. It is likely to grow up to USD 52.9 billion by 2030 at a CAGR of 6.3% during the forecast period ranging between 2025 and 2030. 

Modernization of technology and an increase in the defense budget are driving market expansion. These weapons are reliable, more efficient and effective than conventional bombs. Precision-guided munitions (PGMs) research, development, and acquisition are therefore rapidly growing. Modern weaponry and intelligent bombs are consuming a significant portion of the defense budgets of governments worldwide. They accomplish missions with little collateral damage thanks to the employment of GPS, laser, infrared, and electro-optical technologies. In order to minimize civilian casualties and ensure the success of missions, nations' armies are increasingly favoring high-precision bombs over conventional weapons. To equip their militaries with PGMs, major nations including the US, Russia, China, and India are steadily expanding their defense spending. The primary drivers of the expansion of the global market for precision-guided munitions are also shifts in security tactics and a preference for smart warfare technologies. However, high cost and limited budget hinder the market growth. 

Browse market data Tables and Figures spread through 137 Pages and in-depth TOC on By Product (Missiles, Smart Bombs, Shells and Mortars), By Technology (GPS-Guided, Infrared, Laser-Guided and Radar-Guided), By Speed (Subsonic, Supersonic and Hypersonic), By Launch Platform (Air-launched, Surface-launched and Naval-launched) and By Geography (North America, Europe, Asia Pacific, Rest of the World) - Forecast from 2025 to 2030.

Global Precision-Guided Munitions Market Segmentation and Key Players

By product, missiles dominated the global precision guided munition market. 

The demand for missiles is growing the fastest as they are capable of hitting targets with high accuracy at long distances. Long range, high precision and advanced guidance systems such as GPS and INS technologies have further strengthened their utility.

"North America dominated the global precision guided munition market." 

North America is the largest in the US due to its cutting-edge technologies, high demand, military budget and R&D investments. 

Some of the major players in this market are Lockheed Martin Corporation, Raytheon Technologies Corporation, BAE Systems plc, Northrop Grumman Corporation, General Dynamics Corporation, Leonardo S.p.A., Rheinmetall AG, Saab AB, Elbit Systems Ltd., L3Harris Technologies Inc., MBDA Inc.

Global Precision Guided Munition Market coverage (By Value) 

• Product Insight and Forecast 2025 - 2030
  • Missiles
  • Smart Bombs
  • Shells
  • Mortars
• Technology Insight and Forecast 2025 - 2030
  • GPS-Guided
  • Infrared
  • Laser-Guided
  • Radar-Guided
• Speed Insight and Forecast 2025 - 2030
  • Subsonic
  • Supersonic
  • Hypersonic
• Launch Platform Insight and Forecast 2025 - 2030
  • Air-launched
  • Surface-launched
  • Naval-launched

Geographical Segmentation

Global Precision Guided Munition Market by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Vietnam
  • Thailand
  • Malaysia
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries