Precision Guided Munition Market worth $47.5 billion by 2025
According to the new market research report "Precision Guided Munition Market by
Product (Tactical Missiles, Guided Rockets, Guided Ammunition, and Loitering
Munition), Technology (Infrared, Semi-active Lasers, Radar Homing, GPS, INS,
Anti-radiation), Type, Speed, Region - Global Forecast to 2025",
The precision guided munition market is projected to grow from
USD 30.0 billion in 2019 to USD 47.5 billion by 2025, at a CAGR of 8.0% from
2019 to 2025. The growing military modernization programs and increasing demand
for precision guided munitions to minimize collateral damage are some of the
factors expected to drive the growth of the precision guided munition market.
Browse 152 market data Tables and 54 Figures spread
through 188 Pages and in-depth TOC on "Precision Guided Munition Market - Global Forecast to 2025"
detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/precision-guided-munition-market-109859417.html
“Growing military modernization programs and increasing demand
for precision guided munitions are key factors fueling the growth of the
precision guided munition market across the globe.”
countries are focusing on increasing their R&D spending & initiate programs
for the development of lightweight, portable, and efficient next-generation
precision weapons. The increasing use of satellite networks, navigation aids,
and drones to destroy high-value and long-distance targets and demand for
miniaturized weapons are some of the major factors fueling the demand for
precision guided munitions.
“Based on type, the autonomous segment of the precision guided
munition market is projected to grow at a higher CAGR during the forecast
on type, the autonomous segment of the market is projected to grow at a higher
CAGR during the forecast period as compared to the semi-autonomous segment.
Autonomous precision guided munitions are equipped with high resolution
electro-optical and infrared cameras that help locate and guide the vehicle to
the target. The growing demand for multi-mission, multi-target
precision-strike, and air-to-ground precision weapons is estimated to propel
the growth of the precision guided munition market during the forecast period.
“The Asia Pacific precision guided munition market is
projected to grow at the highest CAGR during the forecast period.”
Asia Pacific precision guided munition market is projected to grow at the
highest CAGR from 2019 to 2025. The growth of the market in this region can be
attributed to the rising demand for precision guided munition from defense
forces of different countries of the region. China, India, Japan, and South
Korea are investing heavily in the development of high strike precision
weapons. Moreover, increasing product developments and investments in the
precision guided munition ecosystem by defense research agencies, Original
Equipment Manufacturers (OEMs), and start-ups are fueling the growth of the
precision guided munition market in Asia Pacific. Additionally, the presence of
some of the major manufacturers of precision guided munition operating in this
region such as LIG Nex1 (South Korea), NORINCO (China), Bharat Dynamics
(India), Hanwha Corporation (South Korea), and BrahMos Aerospace (India) is another
major factor driving the market.
companies profiled in the report are Lockheed Martin Corporation (US), BAE
Systems (UK), Raytheon (US), Northrop Grumman (US), Elbit Systems (Israel),
Saab AB (Sweden), General Dynamics (US), Israel Aerospace Industries (Israel),
Rheinmetall AG (Germany), LIG Nex1 (South Korea), NORINCO (China), and Bharat
Dynamics (India), among others.
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