Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Guided Munitions Market Share

ID: MRFR//4643-HCR | 100 Pages | Author: Sejal Akre| May 2024

The guided munitions market is witnessing several notable trends that reflect the evolving landscape of military capabilities, technological advancements, and changing defense strategies. One prominent trend is the increasing demand for long-range precision-guided munitions (PGMs). Modern military operations often require the ability to engage targets at extended distances with high accuracy, and the trend toward developing and procuring long-range guided munitions aligns with the need for stand-off capabilities and strategic flexibility.

The integration of artificial intelligence (AI) and advanced sensors represents a significant trend in the guided munitions market. The incorporation of AI algorithms and intelligent guidance systems enhances the autonomous capabilities of guided munitions. This trend allows munitions to adapt in real-time to changing battlefield conditions, identify and prioritize targets, and optimize their trajectories for precision strikes. The convergence of AI and guided munitions reflects a broader shift toward leveraging smart technologies in military applications.

Another notable trend is the increasing use of multi-domain guided munitions, emphasizing interoperability across air, land, and sea platforms. Modern military operations often require coordinated efforts across different domains, and the trend toward developing guided munitions that can be employed seamlessly across various platforms enhances joint and coalition capabilities. This trend aligns with the growing emphasis on integrated and networked military systems for enhanced operational effectiveness.

The demand for loitering munitions, also known as suicide or kamikaze drones, is gaining traction as a distinctive trend in the guided munitions market. These munitions combine reconnaissance and strike capabilities, allowing them to linger over target areas and engage threats with precision. The trend toward loitering munitions reflects the need for agile and responsive solutions in dynamic operational environments, providing armed forces with versatile options for surveillance and engagement.

The miniaturization of guided munitions is emerging as a significant trend, driven by advancements in technology and the demand for compact and lightweight solutions. Miniaturized guided munitions, often referred to as small precision-guided munitions (SPGMs), are designed for use by smaller platforms, including unmanned aerial vehicles (UAVs) and unmanned ground vehicles (UGVs). This trend enables armed forces to deploy precision-guided capabilities on a broader range of platforms, enhancing the flexibility and scalability of military operations.

The trend toward enhanced anti-jamming capabilities in guided munitions is responding to the growing threat of electronic warfare and countermeasures. As adversaries develop sophisticated electronic warfare systems to disrupt guided munition guidance systems, the trend is to incorporate resilient and anti-jamming features. This ensures the reliability of guidance systems, even in contested and electronic warfare-heavy environments, enhancing the effectiveness of guided munitions in modern conflicts.

The demand for modular and adaptable guided munitions is influencing market trends. Armed forces seek munitions that can be easily configured and customized to address various mission requirements. The trend toward modular designs allows for the integration of different guidance systems, warhead options, and mission profiles, providing armed forces with versatile and mission-specific solutions. This trend aligns with the need for flexibility in addressing diverse operational scenarios.

The proliferation of swarming drone technologies is impacting the guided munitions market as armed forces develop counter-swarm capabilities. The trend involves the development of guided munitions designed to engage and neutralize swarms of unmanned aerial vehicles or other autonomous systems. This trend reflects the recognition of the evolving threat landscape and the need for guided munitions that can effectively counter unconventional and swarm-based threats.

Environmental sustainability considerations are emerging as a trend in the guided munitions market. Manufacturers are exploring eco-friendly materials and production processes to align with global efforts toward sustainability. This trend reflects a growing awareness of the environmental impact of defense technologies, prompting the development of guided munitions with reduced ecological consequences.

Global Guided Munitions Market Overview

Guided Munitions Market Size was valued at USD 24.9 Billion in 2023. The Guided Munitions market industry is projected to grow from USD 25.9956 Billion in 2024 to USD 35.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.86% during the forecast period (2024 - 2032). Increased demand for the defense organization for guided missiles and rockets and rising national security concerns throughout the world are the key market drivers enhancing the growth of market.

Guided Munitions Market

Source The Secondary Research, Primary Research, MRFR Database, and Analyst Review

Guided Munitions Market Trends

  • Growing demand for defense programs is driving the market growth

Market CAGR for guided munitions is being driven by the rising demand for defense programs to defend the nation against several threats. There is a rising demand from defense organizations for precision-guided missiles and rockets, increased military spending, and also to reduce collateral damages. The rising defense budgets throughout the  economies are fueling market growth. The growing terrorist activities, and rising utilization of smart weapons are some of the crucial factors increasing the demand for guided munitions.

The rising national security concerns and the idea that some nations can cede their diplomatic, security, and economic interests to others are expected to boost the growth of missiles and rockets demand in the defense industry, therefore, adding up to the growth of the market. An important component of military operations is the vigorous utilization of  positioning systems and inertial navigation systems that can pinpoint the target, whether mobile or stationary and precisely target and destroy it with the least amount of time and collateral damage. There is rising demand for precision attacking techniques in the army, navy, and air force. The development of telecommunication technologies has gone through a radical change owing to the changing nature of the  economy, further improving the effectiveness of rockets and missiles in combat situations. The nations are extensively emphasized gaining a piece of technologically advanced warfare equipment in order to showcase their dominance in the  scenario.

The introduction of new technologies and advancements of new-generation missile and air systems is a major driving factor for the guided munition industry growth. These advancements in missile fuel the demand for defense shields, which can surge the market demand for guided munition. Governments throughout the globe are engaged in advancing their stealth aircraft and also making investments in superior surveillance systems to combat stealth technologies. Therefore, the continuous improvements for a new generation of guided air and missile defense systems are anticipated to boost the demand for different technologies related to guided munition like laser, INS, GPS, radar, etc, hence creating a demand for the products. Thus, driving the Guided Munitions market revenue.

However, the extremely complicated weapon guidance system can be one of the major factors hampering the growth of the market. Also, the high cost of production might affect the growth of the market ly.

Guided Munitions Market Segment Insights

Guided Munitions Product Insights

The  Guided Munitions market segmentation, based on product, includes Tactical Missiles, Guided Rockets, Guided Ammunition, and Loitering Munition. The tactical missiles segment dominated the market, accounting for the largest market revenue due to its ability to damage the targets and its long-range travel. These missiles can be integrated with nuclear warheads with the navigation systems and can be launched from the surface and air in order to destroy the targets at desired locations. Further, the guided rockets are foreseen to experience moderate growth in the estimated time due to their low cost and lightweight properties.

Guided Munitions Technology Insights

The  Guided Munitions market segmentation, based on technology, includes Infrared, Semi-Active Lasers,  Navigation Systems, Anti-Radiation, and Others. The  navigation system segment dominates the market, accounting for the highest market revenue in 2021. Modern weapons utilize GPS for target guidance and location, mainly the precision-guided munition system. The defense industry also uses GPS to attain an advantage during combat and covert operations. It is expected that significant GPS utilization in precision-guided weapons like missiles, uncrewed aerial vehicles, and rockets will increase the growth prospects for the technology throughout the forecast period. Further, rising investments are also being made in creating cutting-edge wearables technologies like smartwatches with GPS are anticipated to boost the market growth.

Figure 1:  Guided Munitions Market, by Technology, 2022 & 2032 (USD Billion)

Guided Munitions Market, by Technology, 2022 & 2032 (USD Billion)

Source The Secondary Research, Primary Research, MRFR Database, and Analyst Review

Guided Munitions Regional Insights

By region, the study gives market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Guided Munitions market area dominates the market due to the availability of key market players and continuous investments in the R&D activities for developing new and advanced technology to penetrate the missile defense system. Further, the military developments throughout the region are also expected to improve artillery and missiles, thus boosting the market growth in this region.

Further, the prime countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil.



Source The Secondary Research, Primary Research, MRFR Database, and Analyst Review

The Asia-Pacific Guided Munitions Market accounts for the second-largest market share due to the escalating geopolitical conflicts and the rising threat of terrorist attacks, and in response to increasing national security concerns, the countries in this region are investing largely in modernizing their armed forces. Moreover, China’s Guided Munitions market held the largest market share, and the Indian Guided Munitions market was the rapid-growing market in the Asia-Pacific region.

Europe's Guided Munitions market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to their initiative to boost their cutting-edge and aggressive defense industrial base for the defense weapons system in this region. Further, the German Guided Munitions market held the largest market share, and the UK Guided Munitions market was the rapid-growing market in the European region.

Guided Munitions Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Guided Munitions market grow even more. Market players are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Guided Munitions industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  Guided Munitions industry to benefit clients and increase the market sector. In recent years, the Guided Munitions industry has offered some of the most significant advantages to the defense sector. Major players in the Guided Munitions market, including BAE Systems Plc, Vertex Company, PTC Industries, Lockheed Martin Corporation, Raytheon Company, General Dynamics Corporation, Israel Aerospace Industries Ltd, Textron Inc., Hanwha Group, Northrop Grumman Corporation, and others, are attempting to increase market demand by investing in research and development operations.

BAE Systems, Inc., the US subsidiary of BAE Systems plc, is an international defense, security, and aerospace company. The company offers some of the world's most advanced, technology-led defense, security solutions, and aerospace. The company delivers a full range of services and products for air, land, and naval forces and also advanced electronics, information technology solutions, security, and customer support services. In July 2020, the above UK-based aerospace company acquired the Collis Aerospace Military  Positioning System (GPS) businesses from Raytheon Technologies Corporation for 1.9 billion dollars. This will help BAE to expand GPS anti-spoofing and anti-jamming technology, which is important for a range of defense missions. Raytheon Technologies is a US-based aerospace and defense company that specializes in precision munitions and missiles.

The Vertex Company offers vertically integrated turnkey lifecycle support from concept definition to engineering and manufacturing; the company provides aviation maintenance,  contractor logistics support, specialized onsite mission execution, systems engineering and integration, high-consequence training programs, and integrated supply-chain solutions. In December 2021, the company acquired Raytheon Technologies' defense training and mission-critical solutions business lines for an undisclosed amount. This deal will assist the company in extending into highly specialized value-added technology solutions and services, including commercial training, mission-critical support solutions, and engineering and modernization capabilities. Raytheon Technologies is a US-based aerospace and defense company specializing in precision munitions and missiles.

Key Companies in the Guided Munitions market include

  • BAE Systems Plc

  • Vertex Company

  • PTC Industries

  • Lockheed Martin Corporation

  • Raytheon Company

  • General Dynamics Corporation

  • Israel Aerospace Industries Ltd

  • Textron Inc.

  • Hanwha Group

  • Northrop Grumman Corporation

Guided Munitions Industry Developments

  • For Instance, October 2022 PTC Industries and BAE Systems signed an agreement to generate titanium castings at the production facility of PTC Industry in Lucknow, Utter Pradesh, India, for the Indian155mm M777 Ultra-Lightweight Howitzer (ULH).  

  • For Instance, October 2022 Lockheed Martin has a contract to offer three Orion spacecraft for the Artemis Vi-VIII missions of NASA as part of the ongoing distribution of exploration vehicles for the Artemis program. These missions can send astronauts into the depths of space and across the moon.

  • For Instance, February 2021 Hydroxycut's newest creation, CUT Energy, a delectable clean energy drink, was released. This powerful mix was carefully formulated for regular energy drink consumers, exercise enthusiasts, and dieters looking to lose weight.

Guided Munitions Market Segmentation

Guided Munitions Product Outlook

  • Tactical Missile

  • Guided Rockets

  • Guided Ammunition

  • Loitering Munition

Guided Munitions Technology Outlook

  • Infrared

  • Semi-Active Lasers

  • Navigation System

  • Anti-Radiation

  • Others

Guided Munitions Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.