According to the latest report by IMARC Group, titled “Smart Weapons Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global smart weapons market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 13% during 2021-2026. Smart weapons refer to precision-guided munitions that are designed to hit specific targets with greater accuracy. They commonly include firearms, pistols, bombs, and sniper rifles. Smart weapons are embedded with integrated computers, artificial intelligence (AI), and machine learning (ML) that utilize light, sound, and electromagnetic (EM) waves to guide the weapon towards the target. In addition, they are programmed to filter unwanted signals in a multi-signal environment to minimize collateral damage.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Smart Weapons Market Trends:
Rapid transformation in warfare tactics, increasing geopolitical tensions, and the rising need for highly precise ammunitions are mainly contributing to the widespread adoption of smart weapons across the globe. Additionally, governments of various nations are continuously investing in research and development (R&D) activities to engineer electronic warfare (EW) systems integrated with light detection and ranging (LiDAR), global positioning system (GPS), and augmented reality (AR) technologies. Such advancements help the personnel with self-respond or on-strike decisions, which is acting as a growth-inducing factor. Apart from this, upgrades of existing missiles and ammunition with biometric locks for enhanced security are creating a positive outlook for the market.
Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Airbus SE
- BAE Systems
- General Dynamics Corporation
- Israel Aerospace Industries
- L3Harris Technologies Inc.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Rafael Advanced Defense Systems Ltd.
- Raytheon Technologies Corporation
- Thales Group and The Boeing Company
Breakup by Type:
- Anti-Tank Missiles and Standoff Missiles
- Air-to-Air and Air-to-Surface Missiles
- Anti-Ship and Anti-Submarine Missiles
- Guided Bombs
- Target Pods
- Guided Projectiles
- Artillery Shells
- Mortar Rounds
- Guided Rockets
- Anti-Tank and Tactical Rockets
- Air-to-Air and Air-to-Surface
- Precision Guided Firearms
- Small Smart Weapons
- Shoulder Fired Weapons
Breakup by Technology:
- Satellite Guidance
- Radar Guidance
- Infrared Guidance
Breakup by Platform:
Breakup by Region:
- Middle East and Africa
- North America
- Latin America
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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