Global Market for Smart Weapon is Anticipated to grow at a Significant Pace i.e., USD 25.6 Billion during the Forecast Period 2025 - 2030

Published Date: Nov, 2022

The report "Smart Weapon Market by Platform (Air, Land, and Naval), by Weapon Type (Missiles, Munitions, Guided Rockets, Guided Projectiles, Guided Firearms, Directed Energy Weapons, and Others), by Technology (Infrared, Laser, Global Positioning System (GPS), Radar, and Others) - Global Forecast to 2030", The global smart weapon market is expected to witness a 6.75% CAGR during the forecast period. Smart weapons are known for their accuracy and are directed by lasers. They are designed to hit a target accurately while causing the least amount of collateral damage possible. It comprises sensor-fused weapons, air-to-ground missiles with laser or satellite guidance, steerable bombs, guided weapons, and sensor-fused bombs. Infrared, electro-optical, or laser guidance technologies can also be used in smart weapons. Sensors that can identify targets and lock the weapon onto them make up the guidance technology. The market is anticipated to be driven by changes in the nature of warfare, increased demand for high-precision weapons and ammunition, assimilation of various connected technologies into smart weapons, increasing cost of maintenance, aging military equipment and growing concern over security damage.

Furthermore, the rising global and regional instability, and increased terrorist activities will lead to modernizing weapons, thereby accelerating market development of smart weapon industry globally. Different nations have used various strategies for the development and implementation of smart weapons into their armed forces. While Asia Pacific is making attempts to enhance the capabilities of interceptor missiles, North America and Europe are more concentrated on upgrading ammunition, giving a comprehensive market expansion. Thus, the development of UGVs, UAVs, and advanced combat vehicles has led to market development of global smart weapon industry.

In October 2022, Nexter and MBDA offers a NARWHAL (Naval Remote Weapon, Highly Accurate, Lightweight) turret configuration that includes two pods of AKERON MP missiles. This configuration allows for simple installation on any NARWHAL turret model, including those already in service. This kit, which was unveiled for the first time at Euronaval, consists of two AKERON MP missile pods, control electronics, and an operator terminal. The NARWHAL is a remotely operated 20mm naval turret that can be easily integrated into small patrol boats as well as frigates. Its 20M621 gun is effective at more than 2,000 metres and is equipped with cutting-edge optronics such as a day/night sight and a laser range finder.

Bowse 178 market data Tables and 101 Figures spread through 190 Pages and in-depth TOC on " Smart Weapon Market by Platform (Air, Land, and Naval), by Weapon Type (Missiles, Munitions, Guided Rockets, Guided Projectiles, Guided Firearms, Directed Energy Weapons, and Others), by Technology (Infrared, Laser, Global Positioning System (GPS), Radar, and Others), and Region - Global Forecast to 2030

By weapon type, munitions are anticipated to have the fastest growth during the forecast period.

Based on Weapon Type, the global smart weapon market is segmented into Missiles, Munitions, Guided Rockets, Guided Projectiles, Guided Firearms, Directed Energy Weapons, and Others. The munition category is anticipated to grow at a faster rate during the forecast period owing to a surge in demand for next-generation munitions for increased terrorist activities, cross-border conflicts, and political unrest globally. Munitions include guided bombs and Target Pods.

Global Smart Weapon Market Segmentation Analysis

Segment

Categorization

Leading Category

Platform

Air, Land, and Naval

Land (Fastest)

 

Weapon Type

Missiles, Munitions, Guided Rockets, Guided Projectiles, Guided Firearms, Directed Energy Weapons, and Others

Missiles (Largest)

Munition (Fastest)

Technology

Infrared, Laser, Global Positioning System (GPS), Radar, and Others

Laser (Significant Growth)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America

(Largest)

Asia-Pacific

(High CAGR)

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“Asia-Pacific is anticipated to have a high CAGR in the Smart Weapon Market during the forecast period.”

APAC is anticipated to have a high CAGR during the forecast period owing to rise in cross-border conflicts and terrorist activities. Further, rising defense expenditure, navy modernization activities, and surging deployment of naval combat systems by China, India, etc. will bolster the market expansion in the region for smart weapon market. These aspects have led to the deployment of advanced smart weapon systems in the region.

Some of the major players in the global Smart Weapon industry include Lockheed Martin Corporation, MBDA, Rafael Advanced Defense Systems Ltd., Boeing, Raytheon Technologies Corporation, Thales, Northrop Grumman, Denel Dynamics, General Dynamics Corporation, and Rheinmetall AG.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2018–2030

Historical Period

2018–2021

Base Year

2022

Forecast Period

2022–2030

Segments Covered in the Study

Platform, Weapon Type, Technology, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Lockheed Martin Corporation, MBDA, Rafael Advanced Defense Systems Ltd., Boeing, Raytheon Technologies Corporation, Thales, Northrop Grumman, Denel Dynamics, General Dynamics Corporation, and Rheinmetall AG

Global Smart Weapon Market Coverage

Platform Insight and Forecast 2018-2030

  • Air
  • Land
  • Naval

Weapon Type Insight and Forecast 2018-2030

  • Missiles
  • Munitions
  • Guided Rockets
  • Guided Projectiles
  • Guided Firearms
  • Directed Energy Weapons
  • Others

Technology Insight and Forecast 2018-2030

  • Infrared
  • Laser
  • Global Positioning System (GPS)
  • Radar
  • Others

Geographical Segmentation

Smart Weapon Market by Region

North America

  • By Platform
  • By Weapon Type
  • By Technology
  • By Country – U.S., Canada, and Mexico

Europe

  • By Platform
  • By Weapon Type
  • By Technology
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Platform
  • By Weapon Type
  • By Technology
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Platform
  • By Weapon Type
  • By Technology
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries