Smart Weapons Market Size, Trends, Growth, Opportunity and Forecast 2024-2032

IMARC Group’s latest report, titled “Smart Weapons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, the global smart weapons market size reached US$ 18.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 28.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032.

Smart Weapons Market Trends:

The global market is primarily driven by the rising geopolitical tensions and the demand for advanced military capabilities that are prompting defense organizations to invest heavily in smart weaponry. Moreover, continual technological advancements in precision-guided munitions are improving targeting accuracy and reducing collateral damage, which propels adoption. Furthermore, the growing focus on modernizing military forces worldwide is encouraging governments to allocate substantial budgets for smart weapons.

Additionally, the rising need for intelligence-driven warfare and the integration of artificial intelligence and machine learning in defense systems are enhancing the performance of these weapons. Besides, the increasing cross-border conflicts and the ongoing defense collaboration between countries further contribute to market growth. The expanding use of unmanned systems, such as drones, which are equipped with smart weapons, is another significant driver. The rising adoption of network-centric warfare systems, which allows real-time information exchange, is further fueling the demand for smart weapons.

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Leading Key Players Operating in the Smart Weapons Industry:

• 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

• The Boeing Company

Smart Weapons Market Scope & Growth Analysis:

The scope of the market is broadening due to the increasing development of autonomous weapons systems. In addition, the rise of defense budgets across emerging economies, such as India and China, is creating new opportunities for market penetration. The integration of next-generation technologies, such as quantum computing and 5G networks, is another factor broadening the market scope by enhancing the capabilities of smart weapons. Moreover, the adoption of cloud computing solutions in defense infrastructures enables real-time data analytics, propelling operational efficiency.

Besides, the growing trend of military modernization across various nations, coupled with collaborative defense programs, is facilitating broader access to smart weapons. Additionally, the commercial applications of these technologies, including border security and law enforcement, further expand market opportunities. Furthermore, the increasing reliance on cybersecurity to protect weapon systems is another aspect that adds complexity and growth potential to the market.

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Key Market Segmentation:

Breakup by Type:

• Missiles

o Anti-Tank Missiles and Standoff Missiles

o Air-to-Air and Air-to-Surface Missiles

o Anti-Ship and Anti-Submarine Missiles

• Munitions

o Guided Bombs

o Target Pods

• Guided Projectiles

o Artillery Shells

o Mortar Rounds

• Guided Rockets

o Anti-Tank and Tactical Rockets

o Air-to-Air and Air-to-Surface

o Anti-Submarine

• Precision Guided Firearms

o Small Smart Weapons

o Shoulder Fired Weapons

o Smart Guns

Breakup by Technology:

• Satellite Guidance

• Radar Guidance

• Infrared Guidance

• Laser Guidance

Breakup by Platform:

• Land

• Sea/Naval

• Air

Breakup by Region:

• North America (United States, Canada)

• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

• Europe (Germany, France, United Kingdom, Italy, Spain, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

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