DUBLIN, July 19, 2021 /PRNewswire/ — The “Smart Weapons – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Smart Weapons Market to Reach US$159.8 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Smart Weapons estimated at US$77.9 Billion in the year 2020, is projected to reach a revised size of US$159.8 Billion by 2027, growing at a CAGR of 10.8% over the analysis period 2020-2027.
Air-to-Ground Missiles, one of the segments analyzed in the report, is projected to grow at a 11.1% CAGR to reach US$40.3 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Surface-to-Air Missiles segment is readjusted to a revised 11.3% CAGR for the next 7-year period. This segment currently accounts for a 18.2% share of the global Smart Weapons market.
The U.S. Accounts for Over 29.5% of Global Market Size in 2020, While China is Forecast to Grow at a 10.4% CAGR for the Period of 2020-2027
The Smart Weapons market in the U.S. is estimated at US$23 Billion in the year 2020. The country currently accounts for a 29.49% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$28 Billion in the year 2027 trailing a CAGR of 10.4% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.5% and 9.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.8% CAGR while Rest of European market (as defined in the study) will reach US$28 Billion by the year 2027.
Directed Energy Weapons Segment Corners a 17.4% Share in 2020
In the global Directed Energy Weapons segment, USA, Canada, Japan, China and Europe will drive the 12.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$10.9 Billion in the year 2020 will reach a projected size of US$24.7 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$18.8 Billion by the year 2027.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- An Introduction to Smart Weapons
- Directed-Energy Weapons
- Smart Bombs
- Sensor Fuzed Weapons
- Precision Artillery Munitions
- Other Types of Smart Weapons
- Smart Weapons: Augmenting National Defense with Intelligent, Accurate, and Digital Technologies
- Recent Market Activity
- Ushering a New Era of AI-Driven Self-aware Systems, Smart Weapons Seek to Widen Role in Modern Warfare
- Changing Realities of Modern Warfare: A Brief Overview
- Market Dynamics
- Technical Superiority over Conventional Weaponry Widens Scope & Span of Smart Weapons
- Robust Demand Projected for Smart Weapons over the Coming Years
- Developed Regions Remain Primary Revenue Contributors
- North America Makes Major Contribution to Smart Weapons Market
- Fast Paced Growth Forecasts in Asia-Pacific & Other Developing Regions
- Munitions Type and Infrared Technology: Key Segments of Smart Weapons Market
- Prevailing Economic Scenario Favors Market Expansion
- Exhibit 3: Global Economic Outlook: Real GDP Growth Rates (%) by Region/Country for the Years 2018 through 2021
2. FOCUS ON SELECT PLAYERS (Total 49 Featured)
- Axon Enterprise
- BAE Systems PLC
- Denel SOC Ltd.
- General Dynamics Corporation
- Israel Aerospace Industries Ltd.
- Kongsberg Gruppen ASA
- Leonardo SpA
- Lockheed Martin Corporation
- MBDA France
- Nexter Group
- Northrop Grumman Corporation
- QinetiQ Group PLC
- Rafael Advanced Defense Systems Ltd.
- Raytheon Company
- Rheinmetall AG
- Roketsan AS
- Safran Electronics & Defense
- Textron Inc.
- Thales Group
- The Boeing Company
3. MARKET TRENDS & DRIVERS
- Changing Face of Warfare Ignites Global Demand for Smart Weapons
- Rising R&D Spending and Adoption of Smart Weapons to Drive Market
- Smart Weapons Present High-Precision Options for Modern Warfare
- Laser Guided Bombs (LGBs)
- Satellite-Guided Weapons
- Surging Defense & Military Expenditures Worldwide: Cornerstone for Present & Future Growth
- The US & Europe Steer Global Military Spending
- Escalating Global Arms Race Provides the Perfect Platform for Market Expansion
- Artificial Intelligence and Emerging Technologies to Shape the Future of Smart Weaponry
- AI for Smart Weapons
- Growing Significance of AI
- Fully-Autonomous Smart Weapons on Battlefield
- Successful Deployments of Smart Bombs Drive Robust Demand
- Precision Guided Munitions Offer Lucrative Growth Opportunities
- Demand for Airborne and Surface-to-Air Missile Systems Gain Momentum
- Imaging Infrared Technology Finds Favor in IR Missile Guidance
- Satellite Guidance Emerge as the Preferred Medium of Land Attack Cruise Missile Guidance
- Directed Energy Weapons (DEW) Set to Transform Electronic Warfare
- Sensor Fuzed Weapons to Substitute Unguided Cluster Bombs, Bodes Well for Market Adoption
- Sensor Fuzed Weapons: From Undiscriminating Weapons to Highly Discriminating and Effective Systems
- Smart Gun & Personalized Gun Technologies Offering Higher Accuracy and Safety to Become Mainstream
- Directed Energy Weapons to Witness Growth in Demand
- Technological Innovations & Advancements Maintain Robust Momentum
- Resolving Prevailing Challenges: Critical for Future Success
- Leveraging Existing Designs and Using Low-Cost Materials: An Apt Solution to the High Cost Concern
- Military Cooperation: A Double-Edged Sword?
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
- Total Companies Profiled: 49
For more information about this report visit https://www.researchandmarkets.com/r/39o4ic
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