Industry Background:
Smart bullets are target oriented bullets which are advance in order to navigate the path with high accuracy. Unlike conventional bullets, the smart bullet is able to change speed, send data and turn rather than simply following the given trajectory and in case of a miss, these smart bullet can be grounded to minimize collateral damage of bullets. Increasing the defence budget with the increase in the incidence of terrorist attacks in developing and developed economies is expected to drive the smart bullet market during the forcasted period. In recent years, the arms race has been observed among several countries including India, Pakistan and China that is further projected to boost industry demand.This growth is primarily driven by Rise in Territorial Conflicts and Political Unrest in Various Countries of the Middle East and Asia, Upsurge in Terrorist Attacks OECD Countries and Increased Use of Guns for Personal Safety and Shooting Sports.
Globally, a noticeable market trend is evident Innovation and Development in Smart Bullets
. The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Thales Group (United States), The Raytheon Company (United States), Northrop Grumman Corporation (United States), Lockheed Martin Corporation (United States), General Dynamics Corporation (United States), Harris Corporation (United States), Taser International, Inc. (United States) and Darpas (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2020, BAE Systems in collaboration with UAVTEK had developed a nano “Bug” drone and delivered the first 30 units to the British Army. The Bug is a nano-Unmanned Aerial Vehicle (UAV) weighing 196g, which is much similar to the weight of a smartphone with 40-minute battery life and a 2km range. It boasts a stealthy low visual profile and the ability to fly even in strong winds of more than 50mph. It was the only nano-UAV able to cope with the uncompromising weather during a recent Army Warfighting Experiment (AWE).
In January 2017, Raytheon Co., a defence contractor and industrial corporation with core manufacturing concentration in weapons and military and commercial electronics will develop and test prototype independently targeted smart bullets to help defend U.S. Navy surface warships from swarming attacks involving unmanned and manned aircraft, missiles, and fast-attack boats bearing down from many different directions at once.
Market Drivers
- Rise in Territorial Conflicts and Political Unrest in Various Countries of the Middle East and Asia
- Upsurge in Terrorist Attacks OECD Countries
- Increased Use of Guns for Personal Safety and Shooting Sports
Market Trend
- Innovation and Development in Smart Bullets
- Self-guided Smart Bullets are in Trend
Restraints
- Formulation and stringent Implementation of Gun Control Legislation
- High Manufacturing Cost Involved in Smart Bullet
Opportunities
Continuous R &D Activities to Develop Ammunition and Rising Demand for Smart Bullet from Navy and Air Force
Challenges
Compatibility and Integration with All Types of Weapons
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Smart Bullets Study Sheds Light on
The Smart Bullets Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Smart Bullets industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Bullets industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.