Smart Weapons Market to Witness a Phenomenal Growth by Reaching Over USD 22,641.4 Million by 2028

06-Oct-2021 | Zion Market Research

Major companies in the Smart Weapons Market are Raytheon Technologies, Northrop Grumman Corporation, Lockheed Martin Corporation, General Dynamics Corporation, Israel Aerospace Industries, BAE Systems, The Boeing Co., MBDA Inc., Textron Inc. and L3Harris Technologies among others. These players are set to bolster the development of the global Smart Weapons Market.

According to analysts at Zion Market Research, the global Smart Weapons market accounted for USD 14,253.4 Million in 2020 and is expected to reach USD 22,641.4 Million by 2028, growing at a CAGR of 6.2% from 2021 to 2028.

This review is based on a report by Zion Market Research, titled “Smart Weapons Market By Product (Missiles, Munitions, Guided Projectiles, Guided Rockets and Precision Guided Firearms), By Platform (Air, Land and Naval), By Technology (Laser, Radar, GPS, Infrared, Wire Guided, Satellite, Optical and Micro Computing), and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”

Global Smart Weapons Market Size

Increasing Research and Progression Activities to Propel Growth

The primary factor that attributes to the global Smart Weapons market growth includes the increasing research and progression activities of a number of research institutes in various regions, in order to develop Smart Weapons. The demand for modernized and efficient weapons drives the global Smart Weapons market growth. The increasing need of tight security in the border areas and also for strategic operations is expected to influence the growth of the global market globally.

The military’s interest in investing more and modernizing the weapons fuels the global Smart Weapons market. Rising terrorism across borders also demands Smart Weapons which in turn escalates the global market growth. The increasing defense budget and military equipment operations, and research boost the growth of the global Smart Weapons market in various regions around the globe.

Rising Research and Development Activities to Assist North America Growth

North America has been dominating the global Smart Weapons market. Increasing development in this region is backed due to various research organizations’ interest in research and development activities to develop Smart Weapons for tight border security and strategic operations. The terrorist’s threat has increased the military expenditure and modernization techniques for weapon development which in turn boosts the global Smart Weapons market in the region.

Browse the full Smart Weapons Market By Product (Missiles, Munitions, Guided Projectiles, Guided Rockets and Precision Guided Firearms), By Platform (Air, Land and Naval), By Technology (Laser, Radar, GPS, Infrared, Wire Guided, Satellite, Optical and Micro Computing), and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/smart-weapons-market

The global smart weapons market is segmented as follows:

By Product

  • Missiles
    • Anti-Tank and Standoff Missiles
    • Air-to-Air and Air-to-Surface Missiles
    • Anti-Ship and Anti-Submarine Missiles
  • Munitions
    • Guided Bombs
    • Target Pods
  • Guided Projectiles
    • Artillery Shells
    • Mortar Rounds
  • Guided Rockets
    • Anti-Tank and Tactical Rockets
    • Air-to-Air and Air-to-Surface Rockets
    • Anti-Submarine Rockets
  • Precision Guided Firearms
    • Small Smart Weapons
    • Shoulder Fired Weapons
    • Smart Guns

By Platform

  • Air
  • Land
  • Naval

By Technology

  • Laser
  • Radar
    • Active Homing
    • Passive Homing
  • GPS
  • Infrared
    • IIR (Imaging Infrared) Homing
    • IR (Infrared) Homing
  • Wire Guided
  • Satellite
  • Optical
  • Micro Computing

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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