About Smart Bombs
Smart Bombs are basically munitions which can be controlled or guided to hit the target accurately. This bombs have two major priorities that is to increase the probability and level of damage of the concerned target as well as reduce the collateral damage especially nowadays when warfare is turning into a urban warfare. Smart bombs consist of missiles and munitions such as guided mortar rounds and artillery shells. This smart bombs can be equipped with the technology of Radar, GPS, Laser and Others. Rising defence spending, increasing investment in research and development in defence technologies and growing number of hostilities is limiting propelling higher growth of the smart bombs market. North America has always been the largest market because of massive defence budget of United States, North America is followed by Asia because of rising hostilities in the region as well as growing economies such as China, India and Israel.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Smart Bombs market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Israel Aerospace Industries Ltd. (Israel), Rafael Advanced Defense Systems Ltd. (Israel), Boeing Company (United States), BAE Systems plc (United Kingdom), MBDA (France), Lockheed Martin Corporation (United States), Raytheon Technologies Corporation (United States), BrahMos Aerospace Limited (India), General Dynamics Corporation (United States), Northrop Grumman Corporation (United States) and JSC Tactical Missiles Corporation (Russia) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Bharat Dynamics Limited (India), Rheinmetall AG (Germany) and Safran S.A. (France).
Segmentation Overview
AMA Research has segmented the market of Global Smart Bombs market by Type (Missiles, Bombs {Artillery Shells, Mortar Rounds and Others} and Others) and Region.
On the basis of geography, the market of Smart Bombs has been segmented into South America (Brazil, Argentina, Chile, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, Thailand, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Spain, Sweden, Belgium, Poland, Norway, Austria, Russia, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment Type, the sub-segment i.e. Air {Air to Air, Air to Land, and Air to Sea} will boost the Smart Bombs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Inertial-Guided will boost the Smart Bombs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Missiles Account for Largest Market Share in Smart Bombs
Market Growth Drivers:
Increasing Defence Spending Around the World, Growing Number of Hostilities and Conflicts and Rising Demand for Precision Guided Munitions to Reduce Collateral Damage in Urban Environment
Challenges:
Complexity of Technology and Theft of Technology is another Global Phenomenon in Global Weapons Industry related Geopolitics
Restraints:
High Cost of Smart Bombs Compared to Unguided or Standard Munitions
Opportunities:
Asia Pacific and North America are expected to be the two Prominent Markets because of Rising Hostilities in the Region
Market Leaders and their expansionary development strategies
In 2020, Raytheon Company, one of the major US defence developer and manufacturer has announced completion of an all stock merger with United Technologies Corporation, which was multinational conglomerate developing and manufacturing a variety of products for military and industry, with specialisation in development of aircraft engines, and aerospace systems. The newly made entity after the merger is known as Raytheon Technologies Corporation, which will be a global giant in aerospace and defence industry forming a combined sales of USD 74 billion.
In 2019, India successfully tested its Air to Air BVR missile that is Astra Mark-1. The missile is developed by DRDO and will be manufactured by Bharat Dynamics. It has a maximum range of 110 km. Astra uses Inertial guidance and terminal guidance powered by fibre optic gyroscope and active radar homing. It is even equipped with secure data linkage active corrections in its cource. The missile which is currently integrated with SU-30 mki’s will further be intergrated with Tejas LCA, Dassault Mirage 2000, and MiG-29.
Key Target Audience
Smart Bombs Developers and Manufacturers, Component Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.