Smart Weapons Market Scope
Smart weapons are guided by the numerous technologies including the computer, lasers, and others, so as to direct them correctly towards the target. These weapons are extremely efficient and precise. The increasing research as well as progression activities of many research institutes in numerous regions so as to develop smart weapons is likely impel the market growth. The growing need of tight security in the border areas & for strategic operations is anticipated to influence the growth of the global market globally. Different governments are investing more in smart weapons as well as modernizing the weapons. This investments are expected to fuels the global smart weapons market. With rising terrorism through the borders demand for smart weapons has been increased which in turn impacting on the growth of the market in positive manner.
According to AMA, the Global Smart Weapons market is expected to see growth rate of 6.1%
Many key players competing in the market such as Lockheed Martin, Raytheon Company, MBDA, Inc. and General Dynamics Corporation are using contracts and acquisitions as major growth strategies to strengthen their position in the smart weapons market. Research Analyst at AMA estimates that France, Isareal, Norway, and United States Manufacturers will contribute to the maximum growth of Global Smart Weapons market throughout the predicted period.
The Boeing Company (United States), Lockheed Martin (United States), General Atomics (United States), Kongsberg Gruppen (Norway), MBDA (France), Raytheon Company (United States), AeroVironment, Inc. (United States), Northrop Grumman Corporation (United States), Denel Dynamics (South Africa) and Rheinmetall AG (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Israel Aerospace Industries (Israel), General Dynamics Corporation(United States) and Textron Inc (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Smart Weapons market by Type (Missiles (Anti-Tank Missiles, Air-To-Air & Air-To-Surface Missiles,and Anti-Ship & Anti-Submarine Missiles), Munitions (Guided Bombs, and Target Pods), Guided Projectile (Guided Mortar Rounds, and Guided Artillery Shells), Guided Rocket (Anti-Tank & Tactical, Air-To-Air & Air-To-Surface, and Anti-Submarine) and Guided Firearms (Small Smart Weapons, Shoulder-Fired Weapons, and Smart Guns Weapons)) and Region with country level break-up.
On the basis of geography, the market of Smart Weapons has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Drivers
- Growing incidences of war, armed conflicts, and terrorism around the globe
- Growing Need for Precision Munitions
- Upgradation and Replenishment Programs
Opportunities
- Rising Military Spending of Developing nations
- Standardization of Weapons
Restraints
- Decreasing Defense Budgets of Advanced Economies
- Arms Transfer Regulations
Challenges
Analyst View
The infrared technology segment is anticipated to lead the global smart weapons market
Key Target Audience
Military, Regulatory Bodies, Original Equipment Manufacturers (OEMs), Component Suppliers, Technology Providers and Distributors