In a recent published report, Kennet Global Smart Weapons Market report for till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Smart Weapons Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Smart weapons are those guided weapons that can strike a target with high precision even if it is mobile or stationary. The targets can be located with the help of guidance systems such as lasers, satellites, cameras, infrared and GPS. These weapons provide high accuracy, increased lethality and wide range of paramilitary and military forces. The advancements in smart weapons will enhance the efficiency and capability of the military forces.
There are various types of smart weapons such as guided bombs, air-to-surface missiles, surface-to-air missiles, smart bullets, electromagnetic pulse weapons and precision artillery munitions.
The market is witnessing enormous demand due to factors such as changes in the nature of warfare, increasing need to decrease security damage and high demand for accuracy in arms and ammunitions. Also, ageing military equipment and the huge cost of maintaining those equipment drives the growth of the smart weapons market. Various governments such as China, the US and Russia are investing heavily in the modernization of their military equipment which in turn give impetus to weapon manufacturers to develop smart weapons.
However, the impact of arms trade regulations and dependency on the United States government is a challenge that hinders the progress of the market.
The global smart weapons market is segmented on the basis of technology, product and platform.
On the basis of technology, the market can be segmented into Laser, Active Homing, GPS, Infrared, IIR Homing, IR Homing, Radar, Passive Homing, Wire-guided, Satellite and others. The market is split into Missiles, Air-to-Air & Air-to-Surface Missile, Anti-Ship & Antisubmarine Missile, Antitank Missiles & Standoff Missiles, Guided Bombs, Munitions, Artillery Shells, Mortar Rounds, antitank & Tactical rockets, Target Pods, Guided Projectiles and Guided Rockets.
On the basis of platform, the market is segmented into air, land and naval.
The market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific and MEA. North America and Europe are projected to be the most lucrative market with significant growth. North America is dominating the smart weapons market due to an increase in defence budget and continuous development in technology in smart weapons.
Some of the key players in the market include General Dynamics, Thales Group, Orbital ATK, MBDA, Boeing, Lockheed Martin and Raytheon.
Report ContentsRegional AnalysisReport Highlights
Global Market segments
Global Market Drivers, Restraints and Opportunities
Global Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Global Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and the Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
The Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of the Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market Dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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