DUBLIN, Feb. 15, 2024 /PRNewswire/ -- The "Smart Weapons - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Smart Weapons Market to Reach $28.1 Billion by 2030
The global market for Smart Weapons estimated at US$17.7 Billion in the year 2022, is projected to reach a revised size of US$28.1 Billion by 2030, growing at a CAGR of 5.9% over the analysis period 2022-2030. Missiles, one of the segments analyzed in the report, is projected to record 5.4% CAGR and reach US$9.1 Billion by the end of the analysis period. Growth in the Munitions segment is estimated at 5.9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $5.6 Billion, While China is Forecast to Grow at 6.6% CAGR
The Smart Weapons market in the U.S. is estimated at US$5.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.9 Billion by the year 2030 trailing a CAGR of 6.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 4.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
MARKET OVERVIEW
- From an Army of Thousands to an Army of None, the Rise of the Digital Battlefield Provides the Foundation for the Growth of Smart Weapons
- Death by Algorithm! Rapid Digitalization is Bringing Us Closer to that Reality
- Worries Over Geopolitical Conflicts & Galloping Inflation Overtakes Concerns About the Now Receding COVID-19 Pandemic
- War-Induced Commodity Price Increases & Broad Based Price Pressures Mark the Return of Global Inflation in 2022
- Competition
- Smart Weapons - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Pandemic Fails to Deter Global Military Spending, Which Spirals to All Time High in 2021
- Robust Defense Spending Opens Opportunities for Increased Investments in Smart Weapons
- Smart Weapons: What Are They & What's the Outlook for These Evolving New Generation Weapon Technologies?
- World Brands
- Recent Market Activity
- Innovations
MARKET TRENDS & DRIVERS
- As the World Steps Up Military Spending in the Wake of the Russia Ukraine War, Smart Weapons Are Poised to Benefit from the Unfortunate State of Global Geo-Political Affairs
- Germany's Historic Military Investments in 2022 Exemplifies the Prevailing Global Sentiment that the World is a Dangerous Place Where the Threat of Authoritarian States Can be Resisted Only With Big-Ticket Military Capabilities
- The Nuclear Arms Race Begins as Countries Scramble to Deal With Nuclear Risks in an Increasingly Multipolar World Made Nervous by Putin's Nuclear Sabre Rattling
- Rising Conflicts in the South China Sea to Spur Growth in the Asian Market
- AI Weapons Emerge as the 3rd Generation in Smart Weapons Amid Growing Ethical Concerns Over the Weaponization of AI
- Semi-Autonomous Weapon Systems to Witness Increased Adoption before Complete Migration to Fully Autonomous Systems
- Surface-to-Air Missile Accidents Increase the Need to Make Smart Weapons Smarter
- Shift Towards Electronic/Digital Warfare & Technical Superiority Over Conventional Weapons Strengthens The Business Case for Smart Weapons
- Successful Deployments of Smart Bombs to Drive Robust Demand
- Precision Guided Munitions Offer Lucrative Growth Opportunities
- Demand for Airborne and Surface-to-Air Missile Systems Gain Momentum
- Sensor Fuzed Weapons to Substitute Unguided Cluster Bombs, a Win for the Smart Weapons Market
- Smart Gun & Personalized Gun Technologies Offering Higher Accuracy and Safety Become Mainstream
- Review of Radar, a Key Technology Enabling the Development of Smart Weapons
- Guided by its Numerous Benefits, Military Departments Worldwide Step up Spending on Energy Directed Energy Weapons
- Sonic & Ultrasonic Weapons Grows in Popularity for Their Ability to Manipulate Sound Waves to Incapacitate Enemy
- Focus on Disabling Enemy with Minimal Collateral Damage Drives Interest in Electromagnetic Weapons
- Despite the Intriguing Potential, Particle Beam Weapons Remain a Distant Dream
- Plasma Weapons Display Exciting Potential
- Demand Grows Stronger for EO/IR (Electro-Optical/Infra-Red) Systems
- Importance of Continued Innovation Cannot be Undermined
- A Review of the Ethical Issues Surrounding Autonomous Weapons
- Resolving Challenges Will Remain Critical for Future Success
FOCUS ON SELECT PLAYERS (Total 80 Featured)
- BAE Systems PLC
- Collins Aerospace
- Boeing Company, The
- Ball Corporation
- China Aerospace Science and Technology Corporation (CASC)
- Almaz-Antey
- Armament Systems & Procedures Inc. (ASP, Inc.)
- Bharat Dynamics Limited
- Combined Systems, Inc.
- Condor Non-Lethal Technologies
- Axon Enterprise, Inc.
- Adsys Controls, Inc.
- Applied Companies Corp.
- BlueHalo
- Baykar Technologies
For more information about this report visit https://www.researchandmarkets.com/r/72gsr7
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo - https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
![](https://rt.prnewswire.com/rt.gif?NewsItemId=IO38024&Transmission_Id=202402152300PR_NEWS_USPR_____IO38024&DateId=20240215)
Share this article