Smart Weapons Market Research Reportβ€”Global Forecast till 2027

Global Smart Weapons Market Research Report: Information by Product (Missiles, Munitions, Guided Rockets, Guided Projectiles, Guided Firearms, and Others), Technology (Infrared, Laser, Radar, Global Positioning System (GPS), and Others), Platform (Land, Maritime, and Airborne), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)β€”Forecast till 2027

ID: MRFR/A&D/9111-HCR | August 2022 | Region: Global | 164 Pages         

Table of Contents

1. Executive Summary

1.1. Market Attractiveness Analysis

1.1.1. Global Smart WeaponsMarket, byProduct

1.1.2. Global Smart Weapons Market, byTechnology

1.1.3. Global Smart Weapons Market, byPlatform

1.1.4. Global Smart Weapons Market, by Region

2. Market Introduction

2.1. Market Definition

2.2. Scope of the Study

2.3. Market Structure

2.4. Key Buying Criteria

2.5. Market Factor Indicator Analysis

3. Research Methodology

3.1. Research Process

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List of Assumptions

4. Market Insights

5. Market Dynamics

5.1. Introduction

5.2. Drivers

5.2.1. Increasing Defense Expenditure

5.2.2. Naval Modernization Program

5.2.3. Drivers Impact Analysis

5.3. Restraints

5.3.1. Complexity of weapon systems

5.3.2. Restraint Impact Analysis

5.4. Opportunity

5.4.1. Increasing Demand for Remote Weapon Stations

5.5. Market/Technological Trends

5.6. Patent Trends

5.7. Regulatory Landscape/Standards

6. Market Factor Analysis

6.1. Value Chain/Supply Chain Analysis

6.1.1. R&D

6.1.2. Manufacturing

6.1.3. Distribution & Sales

6.1.4. Post-Sales Monitoring

6.2. Porter’s Five Forces Analysis

6.2.1. Threat of New Entrants

6.2.2. Bargaining Power of Buyers

6.2.3. Threat of Substitutes

6.2.4. Intensity of Rivalry

6.2.5. Bargaining Power of Suppliers

7. Global Smart Weapons Market, by Product

7.1. Introduction

7.2. Missiles

7.3. Munitions

7.4. Guided Rockets

7.5. Guided Projectiles

7.6. Guided Firearms

7.7. Others

8. Global Smart Weapons Market, by Technology

8.1. Introduction

8.2. Infrared

8.3. Laser

8.4. Radar

8.5. Global Positioning System (GPS)

8.6. Others

9. Global Smart Weapons Market, by Platform

9.1. Introduction

9.2. Land

9.3. Maritime

9.4. Airborne

10. Global Smart Weapons Market, by Region

10.1. Introduction

10.2. North America

10.2.1. US

10.2.2. Canada

10.3. Europe

10.3.1. UK

10.3.2. Germany

10.3.3. France

10.3.4. Italy

10.3.5. Rest of Europe

10.4. Asia-Pacific

10.4.1. China

10.4.2. Japan

10.4.3. India

10.4.4. Australia

10.4.5. Rest of Asia-Pacific

10.5. Middle East & Africa

10.5.1. Saudi Arabia

10.5.2. UAE

10.5.3. Rest of Middle East & Africa

10.6. Latin America

10.6.1. Brazil

10.6.2. Rest of Latin America

11. Competitive Landscape

11.1. Competitive Overview

11.2. Competitor Dashboard

11.3. Major Growth Key Strategies in the Global Smart Weapons Market

11.4. Competitive Benchmarking

11.5. Market Share Analysis

11.6. Leading Player in terms of the Number of Developments in the Global Smart Weapons Market

11.7. Key Developments & Growth Strategies

11.7.1. New Product Launch/Service Technology

11.7.2. Merger & Acquisition

11.7.3. Joint Ventures

12. Company Profiles

12.1. Key Market Players

(Company overview, financial updates, products & services offered, key developments, SWOT analysis, and key strategies to be provided for all the listed companies)

12.1.1. Lockheed Martin Corporation

12.1.2. Raytheon Technologies Corporation

12.1.3. BAE Systems, PLC

12.1.4. The Boeing Company

12.1.5. L-3 Communications Holdings, Inc.

12.1.6. MBDA, Inc.

12.1.7. General Dynamics Corporation

12.1.8. Orbital ATK

12.1.9. Thales Group

12.1.10. Textron Inc.

12.1.11. Rheinmetall Ag

13. Appendix

13.1. References

13.2. Related Reports

13.3. List of Abbreviation 

List of Tables

TABLE 1 LIST OF ASSUMPTIONS

TABLE 2 MAJOR PATENTS GRANTED FOR SMART WEAPONS (2014–2020)

TABLE 3 PRODUCT: GLOBAL SMART WEAPONS MARKET, 2019–2027 (USD MILLION)

TABLE 4 TECHNOLOGY: GLOBAL SMART WEAPONS MARKET, 2019–2027 (USD MILLION)

TABLE 5 PLATFORM: GLOBAL SMART WEAPONS MARKET, 2019–2027 (USD MILLION)

TABLE 6 GLOBAL SMART WEAPONS MARKET, BY REGION, 2019–2027 (USD MILLION)

TABLE 7 NORTH AMERICA: SMART WEAPONS MARKET, BY COUNTRY, 2019–2027 (USD MILLION)

TABLE 8 NORTH AMERICA: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 9 NORTH AMERICA: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 10 NORTH AMERICA: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 11 US: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 12 US: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 13 US: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 14 CANADA: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 15 CANADA: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 16 CANADA: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 17 EUROPE: SMART WEAPONS MARKET, BY COUNTRY, 2019–2027 (USD MILLION)

TABLE 18 EUROPE: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 19 EUROPE: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 20 EUROPE: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 21 UK: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 22 UK: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 23 UK: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 24 GERMANY: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 25 GERMANY: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 26 GERMANY: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 27 FRANCE: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 28 FRANCE: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 29 FRANCE: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 30 ITALY: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 31 ITALY: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 32 ITALY: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 33 REST OF EUROPE: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 34 REST OF EUROPE: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 35 REST OF EUROPE: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 36 ASIA-PACIFIC: SMART WEAPONS MARKET, BY COUNTRY, 2019–2027 (USD MILLION)

TABLE 37 ASIA-PACIFIC: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 38 ASIA-PACIFIC: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 39 ASIA-PACIFIC: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 40 CHINA: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 41 CHINA: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 42 CHINA: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 43 INDIA: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 44 INDIA: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 45 INDIA: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 46 JAPAN: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 47 JAPAN: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 48 JAPAN: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 49 AUSTRALIA: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 50 AUSTRALIA: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 51 AUSTRALIA: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 52 REST OF ASIA-PACIFIC: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 53 REST OF ASIA-PACIFIC: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 54 REST OF ASIA-PACIFIC: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 55 MIDDLE EAST & AFRICA: SMART WEAPONS MARKET, BY COUNTRY, 2019–2027 (USD MILLION)

TABLE 56 MIDDLE EAST & AFRICA: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 57 MIDDLE EAST & AFRICA: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 58 MIDDLE EAST & AFRICA: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 59 SAUDI ARABIA: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 60 SAUDI ARABIA: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 61 SAUDI ARABIA: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 62 UAE: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 63 UAE: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 64 UAE: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 65 REST OF THE MIDDLE EAST & AFRICA: SMART WEAPONS MARKET, BY INSTALLATION BASE, 2019–2027 (USD MILLION)

TABLE 66 REST OF THE MIDDLE EAST & AFRICA: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 67 REST OF THE MIDDLE EAST & AFRICA: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 68 LATIN AMERICA: SMART WEAPONS MARKET, BY COUNTRY, 2019–2027 (USD MILLION)

TABLE 69 LATIN AMERICA: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 70 LATIN AMERICA: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 71 LATIN AMERICA: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 72 BRAZIL: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 73 BRAZIL: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 74 BRAZIL: SMART WEAPONS MARKET, BY PLATFORM, 2019–2027 (USD MILLION)

TABLE 75 REST OF LATIN AMERICA: SMART WEAPONS MARKET, BY PRODUCT, 2019–2027 (USD MILLION)

TABLE 76 REST OF LATIN AMERICA: SMART WEAPONS MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION)

TABLE 77 REST OF LATIN AMERICA: SMART WEAPONS MARKET, BY FREQUENCY- BAND, 2019–2027 (USD MILLION)

TABLE 78 THE MOST ACTIVE PLAYERS IN THE GLOBAL SMART WEAPONS MARKET

TABLE 79 CONTRACTS AND AGREEMENTS

TABLE 80 MERGERS & ACQUISITIONS

TABLE 81 PRODUCT DEVELOPMENTS

TABLE 82 EXPANSIONS & INVESTMENTS

TABLE 83 JOINT VENTURES & PARTNERSHIPS

 

List of Figures

FIGURE 1 MARKET SYNOPSIS

FIGURE 2 GLOBAL SMART WEAPONS MARKET: MARKET ATTRACTIVENESS ANALYSIS

FIGURE 3 GLOBAL SMART WEAPONS MARKET ANALYSIS, BY PRODUCT

FIGURE 4 GLOBAL SMART WEAPONS MARKET ANALYSIS, BY TECHNOLOGY

FIGURE 5 GLOBAL SMART WEAPONS MARKET ANALYSIS, BY PLATFORM

FIGURE 6 GLOBAL SMART WEAPONS MARKET ANALYSIS, BY REGION

FIGURE 7 GLOBAL SMART WEAPONS MARKET: MARKET STRUCTURE

FIGURE 8 KEY BUYING CRITERIA FOR SMART WEAPONSPRODUCTS

FIGURE 9 RESEARCH PROCESS OF MRFR

FIGURE 10 NORTH AMERICA: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2019 VS 2027

FIGURE 11 EUROPE: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2019 VS 2027

FIGURE 12 ASIA-PACIFIC: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2019 VS 2027

FIGURE 13 MIDDLE EAST & AFRICA: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2019 VS 2027

FIGURE 14 LATIN AMERICA: MARKET SIZE & MARKET SHARE, BY REGION, 2019 VS 2027

FIGURE 15 MARKET DYNAMICS OVERVIEW

FIGURE 16 DRIVERS IMPACT ANALYSIS: GLOBAL SMART WEAPONS MARKET

FIGURE 17 RESTRAINTS IMPACT ANALYSIS: GLOBAL SMART WEAPONS MARKET

FIGURE 18 PORTER’S FIVE FORCES ANALYSIS OF THE GLOBAL SMART WEAPONS MARKET

FIGURE 19 SUPPLY CHAIN: GLOBAL SMART WEAPONS MARKET

FIGURE 20 GLOBAL SMART WEAPONS MARKET SHARE, BY PRODUCT, 2019 (% SHARE)

FIGURE 22 GLOBAL SMART WEAPONS MARKET SHARE, BY PLATFORM, 2019 (% SHARE)

FIGURE 23 GLOBAL SMART WEAPONS MARKET SHARE, BY REGION, 2019 (% SHARE)

FIGURE 24 NORTH AMERICA: SMART WEAPONS MARKET SHARE, BY COUNTRY, 2019 (% SHARE)

FIGURE 25 EUROPE: SMART WEAPONS MARKET SHARE, BY COUNTRY, 2019 (% SHARE)

FIGURE 26 ASIA-PACIFIC: SMART WEAPONS MARKET SHARE, BY COUNTRY, 2019 (% SHARE)

FIGURE 27 MIDDLE EAST & AFRICA: SMART WEAPONS MARKET SHARE, BY COUNTRY, 2019 (% SHARE)

FIGURE 28 LATIN AMERICA: SMART WEAPONS MARKET SHARE, BY COUNTRY, 2019 (% SHARE)

FIGURE 29 COMPETITOR DASHBOARD: GLOBAL SMART WEAPONS MARKET

FIGURE 30 CAPITAL MARKET RATIO AND FINANCIAL MATRIX

FIGURE 31 CONTRACTS & AGREEMENTS: THE MAJOR STRATEGY ADOPTED BY KEY PLAYERS IN THE GLOBAL SMART WEAPONS MARKET

FIGURE 32 BENCHMARKING OF MAJOR COMPETITORS

FIGURE 33 MAJOR MANUFACTURERS MARKET SHARE ANALYSIS, 2019

Smart Weapons Market

Global smart weapons market is anticipated to reach USD 21.85 billion by 2027 and register a CAGR of 6.5% between 2019 and 2027

Segmentation

By Product Missiles Munitions Guided Rockets Guided Projectiles Guided Firearms Others
By Technology Infrared Laser Radar Global Positioning System (Gps) Others
By Platform Land Maritime Airborne

Key Players

  • Lockheed Martin Corporation
  • Raytheon Technologies Corporation
  • BAE Systems
  • PLC
  • The Boeing Company
  • L-3 Communications Holdings Inc.
  • MBDA Inc.
  • General Dynamics Corporation
  • Orbital ATK
  • Thales Group
  • Textron Inc.
  • Rheinmetall Ag

Drivers

  • Increasing Defense Expenditures
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Smart Weapons Market Scenario


Global smart weapons market is anticipated to reach USD 21.85 billion by 2027 and register a CAGR of 6.5% between 2019 and 2027. Smart weapons are also known as smart guns, smart munitions, or guided munition. With the development of UAVs, UGVs, and advanced combat vehicles, the development of smart weapons has also increased.


The global smart weaponsmarket has witnessed high growth in recent years owing to the increasing defense expenditure, naval modernization program, and increasing demand for remote weapon stations. However, the increasing complexity ofthe weapon system is expected to hinder the market's growth to a certain extent.


COVID-19 Analysis


According to MRFR, the current projections of global smart weapons market growth till 2027 are expected to be lower than pre-COVID-19 estimates. The pandemic has had a devastating negative impact on the aviation, defense, and maritime industry across the world. In the defense industry, due to a decrease in tax revenues with a decrease in GDP, it is also expected to decrease the demand for new aircraft, naval vessels, ground vehicles, and related systems for defense applications in the next few years. This is also expected to decrease the demand for smart weapons.


Many governments across the globe are focused on controlling COVID-19 outbreaks in their countries. Hence, they are investing more in healthcare equipment and the development of vaccines. Therefore, the defense expenditures on new systems are expected to be lower in the next few years. The defense expenditure is expected to increase gradually during the forecast period after the pandemic ends.


Thus, it is expected that the global smart weapons market will grow at a slower rate in 2021 and 2022; from 2023, it will grow gradually.


Market Drivers


Increasing Defense Expenditures


Globally, military spending has increased significantly in recent years. According to the Stockholm International Peace Research Institute (SIPRI), global military expenditure rose by 2.6% to approximately USD 1.82 trillion from 2017 to 2019. The increase in defense expenditure is expected to boost the demand for advanced smart weapons.


Factors such as ongoing conflicts in the Middle East & Africa, long-standing tensions among the US and China, the US and Iran, India and Pakistan, and South Korea and North Korea, territorial disputes between countries in Asia-Pacific, and a focus on counterterrorism activities are pushing governments to strengthen their defense capabilities. A rise in military spending directly boosts the growth of the defense equipment industry, which covers everything from aircraft and weapons to smart weapons.


Opportunities


Increasing Demand for Remote Weapon Stations


Recently, the global market has witnessed significant growth due to an increase in investments in the procurement of remotely operated weaponsacross the globe. Moreover, with the growing terrorist threats across the globe, the rising number of cross-border threats and armed conflicts would fuel the demand for remote weapon stations.


Over the years, terrorist organizations such as ISIS and Al-Qaeda have been posing significant threats to the national security of various countries, which have resulted in the modernization of weapons and procurement of smart weapons to curb such threats.


Restraints


Complexity of Weapon Systems


Most of the smart weapons include many mechanical and electronic components. This increases its complexity. Due to this complexity, they are difficult to maintain and there are more chances of failure of parts. Thus, the complexity of weapon systems is expected to restrict the growth of the global smart weapons market during the forecast period.


Cumulative Growth Analysis


Increasing Use of Remotely Operated Weapon Systems to Bolster Market’s Growth Rate


The global smart weapons market growth is expected to be at a rate of 6.5% over the analysis period (between 2021 and 2027) on account of the use of remotely operated weapon systems.


Segment Overview


Missiles


The missiles segment accounted for the largest market share and is expected to register the highest CAGR during the review period. This is due to the increasing development of technologically advanced missiles and increasing demand globally.


Munitions


This segment is expected to register asteady growth rate during the forecast period. This is due to the increasing demand for munitions as weapons.


Guided Projectiles


This segment is expected to register the highest CAGR during the forecast period. This is due to the increased usage of guided projectiles for UAVs, fighter jets, and helicopters by military forces across the globe.


Regional Analysis


North America Accounted for the Largest Market Share


North America comprises two major countries, namely, the US and Canada. North America leads in global military expenditure and technological advancements and generates a very high demand for smart weapons. Although Canada makes some investments in the development of such advanced weapons, the country’s smart weapons market  is primarily dependent on the US. The region held the largest share in the overall market in 2020, primarily due to the presence of major manufacturers such as Lockheed Martin, Raytheon Technologies Corporation, and Northrop Grumman.


Furthermore, the increasing military expenses by the US Department of Defense (DOD) on smart weapons, in recent years, have resulted in the regional market witnessing a significant surge in demand.


APAC Races Ahead at the Fastest Rate as China and India Take the Lead


MRFR anticipates the Asia-Pacific (APAC) market to exhibit the fastest growth during the conjectured period, thanks to the increased defense expenditure of key economies. In Asia-Pacific, the market growth is significantly driven by major countries, such as China, Japan, India, and Australia, due to the rising investments in smart weapons. Increasing military expenditure and rising territorial conflicts between neighboring countries such as China, South Korea, and North Korea are driving the smart weapons market in the region. According to SIPRI, China’s military spending increased from approximately USD 215 billion in 2016 to USD 250 billion in 2018. Additionally, military expenditure in India grew by around 9% from 2017 to 2019. Furthermore, navy modernization activities and increasing development of naval combat systems by China, India, and other Asian countries are further driving the regional market's growth.


Competitive Landscape


Significant Investments by Players to Intensify Competition


The global smart weapons market is expected to grow significantly in the coming years due to increasing defense expenditure and naval modernization programs. The global smart weapons market is characterized by the presence of several global and regional vendors. The market is highly competitive, with all the players trying to gain maximum market share. Frequent changes in government policies, intense competition, and government regulations are the key factors that impact global market growth. The vendors compete based on cost, product quality, and reliability.


Key Players Operating in the Global Smart Weapons Market:



  • Lockheed Martin Corporation (US)

  • Raytheon Technologies Corporation (US)

  • BAE Systems, PLC (UK)

  • The Boeing Company (US)

  • L-3 Communications Holdings, Inc. (US)

  • MBDA, Inc. (France)

  • General Dynamics Corporation (US)

  • Orbital ATK (US)

  • Thales Group (France)

  • Textron Inc. (US)

  • Rheinmetall Ag (Germany)


Recent Developments



  • August 2020 – The Air Force Research Laboratory awarded Lockheed Martin a contract worth up to USD 25 million to develop a palletized munitions system.Lockheed is developing a system to turn airlift planes into weapons trucks.

  • October 2020 – Raytheon Missiles & Defense's Storm Breaker smart weapon approved for use on the F-15E by the U.S. Air Force's air combat command.F-15E squadrons can be equipped with StormBreaker and deployed for missions.


Report Overview


Scope of the Report


The scope of the report highlights drivers, opportunities, restraints, and challenges surrounding the global market. With easy-to-comprehend segmentation that includes product, technology, platform, and region, MRFR projections are based on historical and expected trends. Major firms active in the global market have been profiled and paired with the top strategies employed by them to remain competitive in the industry.


Segmentation Table


Product



  • Missiles

  • Munitions

  • Guided Rockets

  • Guided Projectiles

  • Guided Firearms

  • Others


Technology



  • Infrared

  • Laser

  • Radar

  • Global Positioning System (GPS)

  • Others


Platform



  • Land

  • Maritime

  • Airborne



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 21.85 billion
  CAGR   6.5% (2021–2027)
  Base Year   2020
  Forecast Period   2021–2027
  Historical Data   2019
  Forecast Units    Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered    Product, Technology,and Platform
  Geographies Covered    North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America
  Key Vendors   Lockheed Martin Corporation, Raytheon Technologies Corporation, BAE Systems, PLC, The Boeing Company, L-3 Communications Holdings, Inc., MBDA, Inc., General Dynamics Corporation, Orbital ATK, Thales Group, Textron Inc., and Rheinmetall Ag.
  Key Market Opportunities   Increasing Demand for Remote Weapon Stations
  Key Market Drivers   Increasing Defense Expenditures


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