The Global Smart Weapons Market is expected to grow from $12.12 billion in 2016 to reach $19.71 billion by 2023 with a CAGR of 7.1%.
According to Publisher, increasing number of innovations and replacement programs, growing demand for precision weapons and decreasing burden on logistics are some factors favoring the market.
However, arms transfer regulations and decreasing defense budgets of developed economies are some restraints hampering the market growth. On the other hand, increasing demand in emerging nations, regularity of weapons and threat from terrorism are the significant opportunities for the market size over the forecast period.
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By platform, land segment dominates the global market due to growing need for anti tank missile systems by U.S. government. North America is expected to witness significant growth rate due to growing demand for counter terrorist activities and military equipment modernization.
Some of the key players in this market include Thales Group, Raytheon Company, Lockheed, Martin Corporation, SAAB Group, Northrop Grumman Corporation, Textron Inc., L-3 Communications Holdings, Inc., General Dynamics Corporation, Rheinmetall Ag, BAE Systems, PLC, MBDA, Inc., Orbital ATK and The Boeing Company.
- Passive Homing
- Active Homing
-Global Positioning System (GPS)
- IR Homing
- IIR Homing
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- Smart Guns Weapons
- Small Smart Weapons
- Shoulder-Fired Weapons
- Anti-Tank & Tactical
- Air-To-Air & Air-To-Surface
- Target Pods
- Guided Bombs
- Guided Artillery Shells
- Guided Mortar Rounds
- Anti-Ship & Anti-Submarine Missiles
- Anti-Tank Missiles
- Air-To-Air & Air-To-Surface Missiles
- Rest of Europe
- New Zealand
- Rest of Asia Pacific
-Rest of the World
- Middle East
- South Africa
10.1 Thales Group
10.2 Raytheon Company
10.3 Lockheed Martin Corporation
10.4 SAAB Group
10.5 Northrop Grumman Corporation
10.6 Textron Inc.
10.7 L-3 Communications Holdings, Inc.
10.8 General Dynamics Corporation
10.9 Rheinmetall Ag
10.10 BAE Systems, PLC.
10.11 MBDA, Inc.
10.12 Orbital ATK
10.13 The Boeing Company
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