Smart Weapons Market Size, Share & Trends Analysis, by Product (Missiles, Munitions), Technology (Laser Guidance, Infrared Guidance), Platform (Air, Land), by End-use, And Segment, Forecast Period-2022 – 2028

Report ID - MRC_427 | Pages - 125 | Category - Aerospace And Defence

Smart Weapons Market Insights

Smart Weapons Market is projected to be worth USD 26.42 Billion by 2028, registering a CAGR of 6.18 % CAGR during the forecast period (2022-2028), The market was valued at USD 16.35 Billion in 2021. The missiles segment is expected to dominate the product segment due to the rising demand for guided missiles from the defense sector. The land segment is projected to gain a high market share in the forecast period owing to the rapid expansion of military forces. Further, in terms of regional segment, North America has gained high market traction and is dominating the smart weapon market.

Smart weapons are equipped with a laser, television, or satellite guidance system and rely on external assistance and are distinguished from brilliant weapons, which are self-guided. Smart weapons include missiles, steerable bombs, and other weapons.

Smart Weapons Market Dynamics

Driver:

Increasing up-gradation in weapon technology and surging investment in defense across the globe is estimated to act as a major driver of the smart weapon market.

Restrain:

Regulation imposed by the government in various countries on the import and export of weapons is projected to hamper the growth of the smart weapon market.

Opportunity:       

Growing threats from international boundaries such as maritime boundary disputes and terrorism are anticipated to bring good opportunities for the smart weapons market.

COVID-19 Analysis Smart Weapons Market:

The covid-19 pandemic has adverse impact on the market due to the imposition of stringent rules by the government such as global lockdowns, which disrupted the supply and demand of raw materials in various sectors. This factor resulted in a complete shutdown of smart weapon manufacturing facilities, which negatively impacted the growth of the market. Post covid-19 there was a positive impact on the smart weapons market as a result of the growing Russia-Ukraine war, terrorism, and expansion of military forces on a global level.

Smart Weapon Market Report Coverage

Report AttributesReport Details
Study Timeline2016-2028
Market Size in 2028 (USD Billion)26.42
CAGR (2022-2028)6.18%
By ProductMissiles, Munitions, Guided Projectile, Guided Rocket, Directed Energy Weapons
By TechnologyLaser Guidance, Infrared Guidance, Radar Guidance, Satellite Guidance, Others
By PlatformAir, Land, Naval
By geographyNorth America: U.S., Canada, Mexico

Europe: Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe

Asia Pacific: China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific

Latin America: Brazil, Argentina, Chile, Rest of Latin America

The Middle East and Africa: GCC, Turkey, Israel, Rest of MEA

Smart Weapons Market Segmental Analysis:

By Product

The product segment is divided into missiles, munitions, guided projectiles, guided rockets, and directed energy weapons. The missiles sub-segment is estimated to dominate the smart weapon market due to advancements in technology and an increase in military spending. Further, companies are working on the development of advanced surveillance systems to identify incoming threats within the home boundaries. These factors will improve the demand for missiles in the smart weapon market.

global smart weapons market by product

By Technology

The technology segment is categorized into laser guidance, infrared guidance, radar guidance, satellite guidance, and others. The Laser guidance segment has lifted the growth of the market to a significant level. The factors responsible for the growth of the market are innovation and the launch of new technologies. For instance, lasers enhance precision and operational efficiency during the mission. Further, satellite guidance, infrared guidance, radar guidance, and other, is projected to supplement the growth of the smart weapon market.

global smart weapons market by product 1

By Platform

The platform segment is trifurcated into air, land, and naval. The land segment is the fastest-growing segment in the smart weapon market during the forecast period. The factor responsible for the growth of the market are rising investment in the defense sector, expansion of military forces, and growing procurement of smart weapons. For instance, CGI won four contracts with a total of USD 92.5 million to support four US. Army and Missile Command (AMCOM) programs to help safeguard the readiness of more than 90 major aviation and missile systems throughout their life cycles. Moreover, air and naval segments have considerable market share in the smart weapon market.

By Region

By Region, the smart weapons market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America is estimated to gain the highest market share during the forecast period. The region is responsible for the highest spending on defense, and military modernization programs. Further, the presence of key players such as Boeing Company, Lockheed Martin Corporation, and other is anticipated to fuel the growth of the market.

Smart Weapons Market Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Major companies are focusing on market expansion strategies such as product launches, mergers & acquisitions, and expansion of manufacturing facilities to boost market presence.

Key players

  • Northrop Grumman Corporation
  • Raytheon Technologies Corporation
  • BAE Systems Plc.
  • General Dynamics Corporation
  • L3Harris Technologies Inc.
  • Leonardo S.p.A.
  • Thales Group
  • The Boeing Company
  • Lockheed Martin Corporation

Recent Development

  • In 2021, Lockheed Martin Corporation signed an agreement with US Navy and Air Force to supply LRASM worth USD 414 Million for Long Range Anti-Ship Missile (LRASM) production. This is the largest LRASM production contract in the history of the program.
  • In 2020, Raytheon signed a contract with the US Department of Defense (DoD) worth USD 85 Million to offer engineering service for M(82 Excalibur long-range precision artillery munitions.

Table of Content

  1. Introduction
    • Market Introduction
    • Market Research Methodology
      • Research Process
      • Primary Research
      • Secondary Research
      • Data Collection Technique
      • Data Sources
    • Market Estimation Methodology
      • Limitations of the Study
    • Product Picture of Smart Weapon
    • Global Smart Weapons Market: Classification
    • Geographic Scope
    • Years Considered for the Study
    • Research Methodology in brief:
    • Parent Market Overview
    • Overall Smart Weapons Market Regional Demand
    • Research Programs/Design
    • Market Breakdown and Data Triangulation Approach
    • Data Source
    • Secondary Sources
    • Primary Sources
    • Primary Interviews:
    • Average primary breakdown ratio
  2. Executive Summary
    • Business Trends
    • Regional Trends
    • Product Trends
    • Technology Trends
    • Platform Trends
  3. Market Dynamics
    • Drivers
      • Drivers
    • Restraints
    • Opportunity
      • Impact forces on market dynamics
      • Impact forces during the forecast years
    • Industry Value Chain
      • Upstream analysis
      • Downstream analysis
      • Platform
      • Direct Channel
      • Indirect Channel
    • Potential Customers
    • Manufacturing/Operational Cost Analysis
    • Pricing Analysis by Region
    • Key Technology Landscape
    • Regulatory Analysis
    • Porter’s Analysis
      • Supplier Power
      • Buyer Power
      • Substitution Threat
      • Threat from New Entry
      • Competitive Rivalry
    • PESTEL Analysis
    • Political Factors
    • Economic Factor
    • Social Factors
    • Technological Factor
    • Environmental Factors
    • Legal Factor
    • Covid-19 impact on the Global economy
    • Covid-19 impact on Smart Weapon demand
    • Post-Covid Impact on Smart Weapons Market Demand
    • Impact Analysis of the Russia-Ukraine War
  4. Global Smart Weapons Market Analysis Forecast by Product
    • Global Smart Weapon Segment by Product
      • Global Smart Weapons Market Revenue Share (%), by Product, 2021
      • Global Smart Weapons Market Revenue (USD Million), by Product, 2016 – 2028
    • Global Smart Weapons Market Volume (Kilo Tons) & Revenue (USD Million), by Product, 2016 – 2028
      • Missiles
      • Munitions
      • Guided Projectile
      • Guided Rocket
      • Directed Energy Weapons
  1. Global Smart Weapons Market Analysis Forecast by Product
    • Global Smart Weapon Segment by Product
      • Global Revenue Share (%), by Technology, 2021
      • Global Revenue (USD Million), by Technology, 2016 – 2028
    • Global Smart Weapons Market Revenue (USD Million), by Product, 2016 – 2028
      • Laser Guidance
      • Infrared Guidance
      • Radar Guidance
      • Satellite Guidance
      • Others
  1. Global Smart Weapons Market Analysis Forecast by Platform
    • Global Smart Weapon Segment by Platform
      • Global Revenue Share (%), by Platform, 2021
      • Global Revenue (USD Million), by Platform, 2016 – 2028
    • Global Smart Weapons Market Revenue (USD Million), by Platform, 2016 – 2028
      • Air
      • Land
      • Naval
  1. Smart Weapon by Regions
    • Global Smart Weapons Market Overview, By Region
      • Global Smart Weapons Market Revenue, By region
    • Global Smart Weapons Market Revenue (USD Million), 2016-2028
      • Global Smart Weapons Market Revenue Share (%) by region, 2021
    • North America
      • North America Revenue (USD Million), 2016-2028
    • Asia Pacific
      • APAC Revenue (USD Million), 2016-2028
    • Europe
      • Europe Revenue (USD Million), 2016-2028
    • Latin America
      • Latin America Market Revenue (USD Million), 2016-2028
    • Middle East & Africa
      • Middle East & Africa Revenue (USD Million), 2016-2028
  1. North America
    • North America Smart Weapons Market Size by Countries
      • North America Market Revenue (USD Million) by Countries (2016-2021)
      • North America Market Revenue (USD Million), by Product, 2016 – 2028
      • North America Market Revenue (USD Million), by Technology, 2016 – 2028
      • North America Revenue (USD Million), by Platform, 2016 – 2028
    • United States
      • U.S. Revenue (USD Million), by Product, 2016 – 2028
      • U.S. Revenue (USD Million), by Technology, 2016 – 2028
      • U.S. Volume (Kilo Tons), by Platform, 2016 – 2028
    • Canada
    • Mexico
  1. Europe
    • Europe Smart Weapons Market Size by Countries
      • Europe Size, by Product, 2016 – 2028
      • Europe Market Size, by Technology, 2016 – 2028
      • Europe Market Size, by Platform, 2016 – 2028
    • Germany
    • France
    • UK
    • Spain
    • Russia
    • Italy
    • BENELUX
  1. Asia Pacific
    • Asia Pacific Smart Weapons Market Size by Countries
      • Asia Pacific Market Size, by Product, 2016 – 2028
      • Asia Pacific Market Size, by Technology, 2016 – 2028
      • Asia Pacific Smart Weapons Market Size, by Platform, 2016 – 2028
    • China
    • Japan
    • Australia
    • South Korea
    • India
    • ASEAN
  1. Latin America
    • Latin America Smart Weapons Market Size by Countries
      • Latin America Market Size, by Product, 2016 – 2028
      • Latin America Market Size, by Technology, 2016 – 2028
      • Latin America Market Size, by Platform, 2016 – 2028
    • Brazil
    • Argentina
    • Chile
  2. Middle East and Africa
    • Middle East and Africa Smart Weapons Market Size by Countries
      • Middle East and Africa Market Size, by Product, 2016 – 2028
      • Middle East and Africa Market Size, by Technology, 2016 – 2028
      • Middle East and Africa Market Size, by Platform, 2016 – 2028
    • GCC
    • Turkey
    • South Africa
  3. Global Smart Weapons Market by Players
    • Global Smart Weapons Market Revenue Share (%): Competitive Analysis, 2021
      • Key entry strategies adopted by market players
      • Global Revenue (USD Million), By Manufacturer 2021
      • Global Revenue Share (%), By Manufacturer 2021
      • Global Market Player Positioning, By Manufacturer 2021
  1. Global Smart Weapons Market: Recent Development
  2. Competitive Analysis
    • Orbital ATK
      • Business Overview
      • Orbital ATK Business Financials (USD Billion)
      • Orbital ATK Smart Weapon Category, Product and Specification
      • Orbital ATK Main Business/Business Overview
      • Orbital ATK Geographical Analysis
      • Orbital ATK Recent Development
      • Orbital ATK Swot Analysis
    • Northrop Grumman Corporation
    • Raytheon Technologies Corporation
    • BAE Systems Plc.
    • General Dynamics Corporation
    • L3Harris Technologies Inc.
    • Leonardo S.p.A.
    • Thales Group
    • The Boeing Company
    • Lockheed Martin Corporation
    • MBDA
  1. Market Research Findings & Conclusion

Disclaimer 

Research Methodology

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