Precision Guided Munition Market
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The precision guided munition market is projected to grow at a CAGR 7.34% rate during the forecast period. The increasing need for highly precise strike munition, rising asymmetric warfare, geopolitical conflicts, and military modernization programs, among others, are some of the factors fueling the growth of market.
The loitering munition segment is projected to grow at the highest CAGR from 2019 to 2025. The loitering munition can function autonomously searching and launching attacks without human intervention. This has drastically reduced the number of rounds required to defeat a particular target.
The market has been segmented into infrared, semi-active lasers, radar homing, Global Positioning System (GPS), Inertial Navigation System (INS), anti-radiation, and others. The semi-active laser segment is estimated to account for the largest share of the market in 2019. The GPS segment is projected to grow at the highest CAGR during the forecast period. GPS is a satellite-based navigation system that offers navigation capability with accurate velocity information. Hence, various vendors focus on producing precision guided munition equipped with GPS technology.
The Asia Pacific market is projected to grow at the highest CAGR from 2019 to 2025. Countries such as China, India, Australia, Japan, South Korea, and Rest of Asia Pacific are considered in this regional market analysis. In 2018, China and India were among the top five countries in the world in terms of defense expenditure. While China ranked second, India ranked fourth in defense expenditure, globally.
Key Market Players includes 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.
Key Questions Addressed by the Report
- What are the drivers, restraints, challenges, and opportunities that affect the dynamics of the market, and what is the subsequent market analysis of the associated trends?
- What are the key sustainability strategies adopted by leading players operating in the market?
- What are the upcoming disrupters in this market that can be potential targets for partnerships/mergers?
- Who are the top players operating in this market?
- Which geographies can be the potential revenue-generating pockets for the market?
2. Research Methodology
Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. Precision Guided Munition Market, By Technology
Global Positioning System (GPS)
Inertial Navigation System (INS)
6. Precision Guided Munition Market, By Product
7. Precision Guided Munition Market, By Type
8. Precision Guided Munition Market, By Speed
9. Precision Guided Munition Market, By Region
Rest of Europe
Rest of APAC
Rest of Middle East
Rest of the World
10. Company Profiles
Lockheed Martin Corporation
The Boeing Company
China North Industries Corporation
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