About Military Smart Weapons
Military smart weapons are modern weapon systems that are able to guide themselves to the target with the help of on-board computers. Weapons such as bombs and projectiles guided by lasers have higher accuracy in hitting the target as compared to normal weapons. Increasing demand for anti-tank missile systems by the United States government, serves as a key driver for the growth of the land segment of the market, by the platform. The US Department of Defense is currently developing the Joint Air-to-Ground Missile (JAGM), which will replace the Hellfire family of missiles. The increasing cost of maintenance and aging military equipment have resulted in increased demand for the smart weapons market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The military smart weapons market is highly fragmented, owing to the presence of a number of players who provide different weapons based on different technologies. Investments in the development of advanced weapons systems by the manufacturers for precise targeting, and tracking, and attacking the target are expected to help them gain a competitive edge over the other competitors. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Military Smart Weapons market throughout the forecasted period. 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.
The Boeing Company (United States), Lockheed Martin Corporation (United States), Raytheon Company (United States), Northrop Grumman Corporation (United States), L3Harris Technologies, Inc. (United States), General Dynamics Corporation (United States), Orbital ATK (United States), Textron Inc. (United States), MBDA, Inc. (United Kingdom) and BAE Systems PLC (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Rheinmetall AG (Germany), Safran SA (France), Israel Aerospace Industries Ltd. (Israel), Rafael Advanced Defense Systems Ltd. (Israel), Kongsberg Gruppen (Norway), Denel SOC (South Africa) and SAAB AB (Sweden).
Segmentation Overview
AMA Research has segmented the market of Global Military Smart Weapons market by Type (Missiles, Guided Rockets, Ammunition, Guided Projectiles, Guided Firearms and Others) and Region.
On the basis of geography, the market of Military 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). If we see Market by Platform, the sub-segment i.e. Airborne will boost the Military Smart Weapons 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. Radar Guidance will boost the Military Smart Weapons market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development of Biometric Technology in the Weapons Such As Palm Print Scanners Or Voice Recognition
Market Growth Drivers:
Increasing Need for a Smart Weapons Owing To Increase in Terrorist Activities Globally, Increasing Defense Budget and Government Support and Continuous Development and Procurement of Modern Warfare Equipment
Challenges:
Integration of Weapon and Lack of Mature Technology
Restraints:
Regulations on Export of Such Products in Some Countries and Declining Defense Budgets of Advanced Economies
Opportunities:
Growing Demand from Emerging Economies and Standardization of Ancient Weapons
Market Leaders and their expansionary development strategies
In March 2023, RTX Corporation announced receiving a USD 320 million contract to produce and deliver 1500 StormBreaker smart weapons, which are air-to-surface, network-enabled weapons that can engage moving targets in all weather conditions using its multi-effects warhead and tri-mode seeker.
In November 2023, General Atomics Aeronautical Systems, Inc., a leading designer and manufacturer of proven, reliable Remotely Piloted Aircraft (RPA) systems, radars, electro-optics, and related mission systems, and EDGE, a world-leading advanced technology group for defence and beyond, announced an agreement today to integrate EDGE smart weapons onto GA-ASI’s MQ-9B SkyGuardian® RPA.
Key Target Audience
Military Smart Weapons Manufacturers, Regulatory Bodies, Component Suppliers, Technology Providers, Parts/Accessories Suppliers, Government Authorities, Military & Defense Industry, Traders/Exporters/Importers, End-Use Industry and Others
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.