The global land-based smart weapons market size reached US$ 4.6 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 8.7 Billion by 2032, exhibiting a growth rate (CAGR) of 7.3% during 2023-2032. The rising prevalence of geopolitical tensions, terrorism, and political unrest, the growing need for accuracy and precision in targeting enemy assets, and considerable rise in international arms trade represent some of the key factors driving the market.
Land-based smart weapons refer to advanced military weapons that are designed to engage targets accurately and effectively on land using advanced guidance systems and other technologies. Normally deployed on ground-based platforms, like vehicles or stationary launchers, these weapons can be used to execute tactical and strategic missions. GPS, laser designation, and other advanced guidance technologies are used to direct guided missiles, rockets, and artillery shells on land. The flight paths of these weapons can often be adjusted in real-time to avoid obstacles, make a clear aim, and ensure that the intended target is hit precisely. In addition to minimizing collateral damage and reducing personnel risks, land-based smart weapons improve mission effectiveness and minimize collateral damage. Land-based smart weapons can be cost-effective compared to other weapon systems, as they can reduce the number of munitions needed to achieve mission objectives. To minimize civilian casualties and minimize damage to infrastructure, these weapons are extensively utilized in urban environments.
2. What is the expected growth rate of the global land-based smart weapons market during 2024-2032?
3. What are the key factors driving the global land-based smart weapons market?
4. What has been the impact of COVID-19 on the global land-based smart weapons market?
5. What is the breakup of the global land-based smart weapons market based on the product?
6. What is the breakup of the global land-based smart weapons market based on the technology?
7. What are the key regions in the global land-based smart weapons market?
8. Who are the key players/companies in the global land-based smart weapons market?
Land-based smart weapons refer to advanced military weapons that are designed to engage targets accurately and effectively on land using advanced guidance systems and other technologies. Normally deployed on ground-based platforms, like vehicles or stationary launchers, these weapons can be used to execute tactical and strategic missions. GPS, laser designation, and other advanced guidance technologies are used to direct guided missiles, rockets, and artillery shells on land. The flight paths of these weapons can often be adjusted in real-time to avoid obstacles, make a clear aim, and ensure that the intended target is hit precisely. In addition to minimizing collateral damage and reducing personnel risks, land-based smart weapons improve mission effectiveness and minimize collateral damage. Land-based smart weapons can be cost-effective compared to other weapon systems, as they can reduce the number of munitions needed to achieve mission objectives. To minimize civilian casualties and minimize damage to infrastructure, these weapons are extensively utilized in urban environments.
Land-based Smart Weapons Market Trends:
The global market is primarily driven by the growing need for accuracy and precision in targeting enemy assets, including vehicles, buildings, and individuals. This can be attributed to the increasing geopolitical tensions and political unrest across the globe. In line with this, the rising military expenditure by governments of several countries to upgrade existing weapon systems and maintain military readiness is providing an impetus to the market. Moreover, numerous technological advancements, such as the integration of GPS, artificial intelligence (AI), laser guidance systems, and advanced sensors providing greater flexibility and lethality, are resulting in a higher uptake of these weapons. Besides this, the paradigm shift in modern warfare with a hybrid, asymmetric and urbanized nature is driving the demand for land-based smart weapons for minimizing collateral damage. The market is further fueled by the considerable rise in international arms trade and military modernization programs. Apart from this, the escalating incidences of insurgency and terrorism across the globe is leading to rising security concerns, which, in turn, is fueling the demand for advanced land-based smart weapons. Some of the other factors contributing to the market include rapid urbanization, inflating disposable income levels, implementation of stringent policies regarding national security, and extensive research and development (R&D) activities.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global land-based smart weapons market, along with forecasts at the global, regional, and country levels from 2024-2032. The report has categorized the market based on product and technology.Product Insights:
- Ammunitions
- Missiles
- Others
Technology Insights:
- Satellite Guidance
- Radar Guidance
- Infrared Guidance
- Laser Guidance
- Others
Regional Insights:
- North America
- United States
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global land-based smart weapons market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Aselsan A.S. (Turkish Armed Forces Foundation), BAE Systems plc, Israel Aerospace Industries, Lockheed Martin Corporation, MBDA Systems, Northrop Grumman Corporation, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, Safran SA, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. How big is the global land-based smart weapons market?2. What is the expected growth rate of the global land-based smart weapons market during 2024-2032?
3. What are the key factors driving the global land-based smart weapons market?
4. What has been the impact of COVID-19 on the global land-based smart weapons market?
5. What is the breakup of the global land-based smart weapons market based on the product?
6. What is the breakup of the global land-based smart weapons market based on the technology?
7. What are the key regions in the global land-based smart weapons market?
8. Who are the key players/companies in the global land-based smart weapons market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Land-based Smart Weapons Market
6 Market Breakup by Product
7 Market Breakup by Technology
8 Market Breakup by Region
9 Drivers, Restraints, and Opportunities
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Aselsan A.S. (Turkish Armed Forces Foundation)
- BAE Systems plc
- Israel Aerospace Industries
- Lockheed Martin Corporation
- MBDA Systems
- Northrop Grumman Corporation
- Rafael Advanced Defense Systems Ltd.
- Raytheon Technologies Corporation
- Safran SA
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 141 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 4.6 Billion |
| Forecasted Market Value ( USD | $ 8.7 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
