Smart Weapons Market 2024|PDF| valued |USD| 15.7 Bn in 2023
“Smart Weapons Market Up to Date Overview — Market Research Community
Research report on the Smart Weapons market allows buyers to deliver unique solutions to various end users and improve their business presence in the industry. The report is introduced with accurate statistics regarding market share, size, and growth rate for the buyers to focus on their operations and achieve various goals smoothly. Numerous driving factors, restraints, opportunities, and threats affecting the market growth are described in the study for the strategy planners to plan policies pertaining to production volume, delivery of services, making connections, and creating awareness in the minds of consumers.
Smart Weapons Market size was valued at USD 15.7 Bn in 2023, registering a CAGR of 6.3% during the forecast period (2024–2030), and the market is projected to be worth USD 27.2 Bn by 2030.
A brief of the Smart Weapons market scope:
- 1 A basic synopsis of the competitive landscape
- 2 An in-depth breakdown of the regional expanse
- 3 A short outline of the market segmentation
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Key Players:
Lockheed Martin Corporation, Raytheon Company, Boeing, BAE Systems, Saab AB, MBDA, Roketsan, L3Harris Technologies, Kongsberg Gruppen, Israel Aerospace Industries
Scope of the Report:
The Smart Weapons market is categorized on the basis of basis of product, end user, application, and region. Each category is divided into various sub-segments with elaboration on every one. Current trends in every segment is beneficial for the producers to deliver specific products to target customers.
Important Features of the report:
- Detailed analysis of the Smart Weapons market
- Fluctuating market dynamics of the industry
- Detailed market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of the market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
Reasons for buying this report:
- It offers an analysis of changing competitive scenario.
- For making informed decisions in the businesses, it offers analytical data with strategic planning methodologies.
- It offers a seven-year assessment of the Global Smart Weapons
- It helps in understanding the major key product segments.
- Researchers throw light on the dynamics of the market such as drivers, restraints, trends, and opportunities.
- It offers the regional analysis of the Global Smart Weapons Market along with the business profiles of several stakeholders.
- It offers massive data about trending factors that will influence the progress of the Global Smart Weapons
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Market segmentation by manufacturers -
By Weapon Type
The weapon type segment is separated into guided missiles, precision-guided munitions, directed energy weapons, unmanned systems, and cyber weapons. The guided missiles segment has contributed the largest revenue share in 2023. Guided missiles also termed self-guided missiles use navigation systems to reach a target. These are further classified into air-to-air, air-to-ground, and surface-to-air missiles and are considered to be more precise and effective in hitting targets, especially when dealing with mobile targets.
Moreover, the precision-guided munitions including bombs, shells, or other types of explosive devices use guidance systems to reach a target with a high degree of accuracy. Guided munitions are further classified into laser-guided, GPS-guided, and INS-guided munitions. Directed energy weapons use energy, such as lasers or microwaves, to disable or destroy targets. They are further classified into high-energy lasers, microwave weapons, and particle beam weapons. Unmanned systems can be operated without a human operator, such as drones and unmanned ground vehicles. Cyber weapons use cyber-attacks to disrupt or damage computer systems and networks. Other types of smart weapons include intelligent mines, smart bombs, and smart shells.
By Platform
The platform segment is bifurcated into airborne, naval, and ground-based. The airborne segment contributed a significant share in terms of revenue and has promoted market growth during the forecast period. The airborne platform includes smart weapons that are used in aircraft like fighter jets, drones, and helicopters. These weapons are designed to engage targets in the air and on the ground. The ground-based segment is expected to be the fastest-growing segment and this platform includes smart weapons that are used in tanks, armored vehicles, and artillery systems. These weapons are designed to engage targets on the ground. In the context of naval platforms, smart weapons which are used in ships and submarines utilize this platform to engage targets on the water and land.
By Technology
The technology segment is divided into laser-guided, GPS/INS-guided, infrared-guided, radar-guided, and electro-optical/infrared-guided. The laser-guided technology is anticipated to contribute the largest share to the industry growth during the forthcoming years. Laser-guided smart weapons use a laser designator to guide the weapon to its target and have high precision which is useful for engaging stationary and moving targets. Additionally, these weapons have a relatively low risk of collateral damage, as the operator can “”paint”” the target with the laser designator, ensuring that the weapon hits the intended target.
GPS/INS-guided smart weapons use global positioning system (GPS) and inertial navigation system (INS) technology to guide the weapon to its target. Infrared-guided smart weapons use infrared seeker technology to detect and track the heat signature of the target. Radar-guided smart weapons use radar technology to detect and track the target. Electro-optical/Infrared-guided smart weapons use a combination of electro-optical and infrared seeker technology to detect and keep a check on the target.
By Component
The smart weapon market is segmented by component into hardware, software, and services. The hardware component has dominated the market by generating maximum revenue in 2020 as it includes the critical physical components necessary for smart weapon operation. This segment includes the physical components such as the guidance and control systems, sensors, and communication systems. The software segment is also important as this segment comprises the control software and algorithms that are used to guide and control the smart weapon. It involves navigation, targeting, and guidance systems. Lastly, the services segment covers the maintenance, repair, and upgrade services required for smart weapon systems. It also includes training and support services for the operators and maintenance personnel.
By Application
The market can be segmented by application into military, homeland security, law enforcement, and commercial. The military segment will hold the largest share of the market owing to the use of smart weapons by military forces such as fighter jets, drones, ships, tanks, and artillery systems for defense and offense purposes. These weapons have also gained applications in homeland security and are used by government agencies for border patrol, surveillance, and anti-terrorism operations. Law enforcement agencies and the police make use of them for crowd control, riot control, and other operations. Smart weapons are also used for commercial purposes such as mining, construction, and oil and gas exploration.
The profiled players are increasing adopting growth strategies, such as partnership, collaboration, merger and acquisition, awareness programs, takeovers, and more for creating strong market presence and an image in the minds of end users. The report also comprises the list of industry players for the end users. This also smoothens the communication between manufacturers and consumers.
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Regional Analysis For Smart Weapons Market:
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
The Research Provides Answers to the Following Key Questions:
- What is the expected growth rate of the Smart Weapons market? What will be the market size for the forecast period, 2024–2030?
- What are the major driving forces responsible for transforming the trajectory of the industry?
- Who are major vendors dominating the Smart Weapons industry across different regions? What are their winning strategies to stay ahead in the competition?
- What are the market trends business owners can rely upon in the coming years?
- What are the threats and challenges expected to restrict the progress of the industry across different countries?
- What are the key opportunities that business owners can bank on for the forecast period, 2024–2030?
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