Global Precision-Guided Munition Market Outlook, Opportunities And Strategies – Northrop Grumman, Lockheed Martin Corporation
Learn about the global precision-guided munition market through The Business Research Company, which provides information on precision-guided munition market size, precision-guided munition market drivers and restraints, precision-guided munition market players, the COVID-19 impact on the precision-guided munition market, and more.
The global precision-guided munition market size is expected to grow from $28.48 billion in 2021 to $31.47 billion in 2022 at a compound annual growth rate (CAGR) of 10.5%. The global precision guided munition market size is expected to grow to $41.23 billion in 2026 at a CAGR of 7.0%.
Increasing military expenditure is significantly driving the growth of the precision-guided munition market.
The precision-guided munition market consists of the sales of precision-guided munition by entities (organizations, partnerships, and sole proprietors) that are used to destroy a point target and minimize collateral damage. The precision-guided munition is a guided weapon that detects electromagnetic energy reflected from a target. These are guided using a global positioning system (GPS), a laser guidance beam, or an integrated inertial navigation system.
Global Precision-Guided Munition Market Segments Include:
By Product: Tactical Missiles, Guided Rockets, Guided Ammunition, Torpedoes, Loitering Munitions
By Technology: Infrared, Semi Active Laser, Inertial Navigation System (INS), Global Positioning System (GPS), Radar Homing, Anti-Radiation
By Launch Platform: Land, Airborne, Naval
By Mode of Operation: Semi-Autonomous, Autonomous
By Speed: Subsonic, Supersonic, Hypersonic
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific was the largest region in the precision-guided munition market in 2021.
Strategic partnerships and collaborations have emerged as a key trend in the precision-guided munition market. Key players operating in the precision-guided munition market are focusing on partnerships and collaborations to improve efficiency, expand value propositions, use skills and abilities of other companies, improve leadership skills, and extend their growth in new areas.
Major Market Players: Northrop Grumman, Lockheed Martin Corporation, Boeing, BAE Systems, General Dynamics Corporation, Thales Group, L3Harris Technologies Inc., Leonardo S.p.A, Elbit Systems Ltd, Saab AB, Israel Aerospace Industries, Rheinmetall AG, Bharat Dynamics Limited, Denel Dynamics, and LIG Nex 1.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Precision-Guided Munition Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides precision-guided munition market overviews, analyzes and forecasts market size, share, precision-guided munition market players, precision-guided munition market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s precision-guided munition market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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