Market Overview

Guided Munitions Market Size is expected to reach USD 32.7 Billion by 2030, registering a CAGR of 4.4% during 2020-2030

The guided munitions are helpful to be directed and aimed at single or multiple targets. It is also popularly known as smart weapons, smart munitions, or guided ammunition in different parts of the world. It has been found that guided munitions rely on their either guidance systems or external guidance.

This smart weapon can be launched from submarines, aircraft, land vehicles, and ships. Presently, various military programs emphasize precision ammunition, especially on artillery munitions, P.G. (precision-guided) kits, and other standoff and anti-tank weapons with a Low Rate Initial Production (LRIP), which is fueling the global Guided Munitions Market in the forecast period. 

In the Guided Munitions Market Trends, a weapon system plays an important role for land, marine, and air platforms. Thus, the weapon system technology is registered to hold the highest CAGR rate during the analysis period. The Guided Munitions Market is divided into supersonic, subsonic, and hypersonic based on speed. The hypersonic missiles threat is anticipated to expand the highest CAGR during the review timeframe. 

In terms of the global market growth, many agreements, partnerships, and contracts have been taken place. For instance, a contract was signed between L&T MBDA Missile Systems Ltd and the Indian Armed Forces in 2018. This contract has been proposed to indigenously design, supply, and manufacture the highly advanced guided weapon systems under the ‘Make in India’ initiative. Furthermore, a contract was signed between Boeing and the U.S. Air Force in 2014. This contract was aimed to manufacture arming devices for a long-range subsonic, air-launched cruise missile (ALCM) self-guided missile.

Key Players

In the Guided Munitions Market Trends, the global market players show their significant presence to meet the customer base's needs. The significant market players in the global competition include:

  • Lockheed Martin Corporation (U.S.), 
  • L-3 Technologies Inc. (U.S.),
  • Israel Aerospace Industries (Israel),
  • Boeing (U.S.),
  • FN Herstal S.A (Belgium),
  • Northrop Grumman Corporation (U.S.),
  • Raytheon Company (U.S.), 
  • Rafael Advanced Defense Systems Ltd (Israel),
  • BAE Systems Plc. (U.K.), 
  • MBDA (France),
  • Kongsberg Group (Norway).

Segmental Analysis

By type

  • Conventional-powered
  • Nuclear powered

By configuration

  • Catapult assisted take-off but arrested recovery
  • Short take-off but arrested recovery
  • Short take-off but vertical recovery

Regional Analysis

As per the Guided Munitions Market Outlook report, the current Market has been segregated into various geographical areas such as Asia Pacific, North America, the Middle East & Africa, Europe, and Latin America.

Among all, the Market of North America is anticipated to dominate the global Market during the forecast period of 2023 due to the increase in different military equipment modernization programs and the increasing counter-terrorist activities in the region. For instance, the European region is projected to trail North America in the assessment period due to the increased smart weapons procurement by developed countries like the U.K, France, and Germany. Therefore, the global Market is anticipated to register significant growth during the review period.

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