Dublin, July 19, 2021 (GLOBE NEWSWIRE) -- The "Smart Weapons - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Smart Weapons Market to Reach US$159.8 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Smart Weapons estimated at US$77.9 Billion in the year 2020, is projected to reach a revised size of US$159.8 Billion by 2027, growing at a CAGR of 10.8% over the analysis period 2020-2027.
Air-to-Ground Missiles, one of the segments analyzed in the report, is projected to grow at a 11.1% CAGR to reach US$40.3 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Surface-to-Air Missiles segment is readjusted to a revised 11.3% CAGR for the next 7-year period. This segment currently accounts for a 18.2% share of the global Smart Weapons market.
The U.S. Accounts for Over 29.5% of Global Market Size in 2020, While China is Forecast to Grow at a 10.4% CAGR for the Period of 2020-2027
The Smart Weapons market in the U.S. is estimated at US$23 Billion in the year 2020. The country currently accounts for a 29.49% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$28 Billion in the year 2027 trailing a CAGR of 10.4% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.5% and 9.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.8% CAGR while Rest of European market (as defined in the study) will reach US$28 Billion by the year 2027.
Directed Energy Weapons Segment Corners a 17.4% Share in 2020
In the global Directed Energy Weapons segment, USA, Canada, Japan, China and Europe will drive the 12.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$10.9 Billion in the year 2020 will reach a projected size of US$24.7 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$18.8 Billion by the year 2027.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
An Introduction to Smart Weapons
Sensor Fuzed Weapons
Precision Artillery Munitions
Other Types of Smart Weapons
Smart Weapons: Augmenting National Defense with Intelligent, Accurate, and Digital Technologies
Recent Market Activity
Ushering a New Era of AI-Driven Self-aware Systems, Smart Weapons Seek to Widen Role in Modern Warfare
Changing Realities of Modern Warfare: A Brief Overview
Technical Superiority over Conventional Weaponry Widens Scope & Span of Smart Weapons
Robust Demand Projected for Smart Weapons over the Coming Years
Developed Regions Remain Primary Revenue Contributors
North America Makes Major Contribution to Smart Weapons Market
Fast Paced Growth Forecasts in Asia-Pacific & Other Developing Regions
Munitions Type and Infrared Technology: Key Segments of Smart Weapons Market
Prevailing Economic Scenario Favors Market Expansion
Exhibit 3: Global Economic Outlook: Real GDP Growth Rates (%) by Region/Country for the Years 2018 through 2021
2. FOCUS ON SELECT PLAYERS(Total 49 Featured)
BAE Systems PLC
Denel SOC Ltd.
General Dynamics Corporation
Israel Aerospace Industries Ltd.
Kongsberg Gruppen ASA
Lockheed Martin Corporation
Northrop Grumman Corporation
QinetiQ Group PLC
Rafael Advanced Defense Systems Ltd.
Safran Electronics & Defense
The Boeing Company
3. MARKET TRENDS & DRIVERS
Changing Face of Warfare Ignites Global Demand for Smart Weapons
Rising R&D Spending and Adoption of Smart Weapons to Drive Market
Smart Weapons Present High-Precision Options for Modern Warfare
Laser Guided Bombs (LGBs)
Surging Defense & Military Expenditures Worldwide: Cornerstone for Present & Future Growth
The US & Europe Steer Global Military Spending
Escalating Global Arms Race Provides the Perfect Platform for Market Expansion
Artificial Intelligence and Emerging Technologies to Shape the Future of Smart Weaponry
AI for Smart Weapons
Growing Significance of AI
Fully-Autonomous Smart Weapons on Battlefield
Successful Deployments of Smart Bombs Drive Robust Demand
Precision Guided Munitions Offer Lucrative Growth Opportunities
Demand for Airborne and Surface-to-Air Missile Systems Gain Momentum
Imaging Infrared Technology Finds Favor in IR Missile Guidance
Satellite Guidance Emerge as the Preferred Medium of Land Attack Cruise Missile Guidance
Directed Energy Weapons (DEW) Set to Transform Electronic Warfare
Sensor Fuzed Weapons to Substitute Unguided Cluster Bombs, Bodes Well for Market Adoption
Sensor Fuzed Weapons: From Undiscriminating Weapons to Highly Discriminating and Effective Systems
Smart Gun & Personalized Gun Technologies Offering Higher Accuracy and Safety to Become Mainstream
Directed Energy Weapons to Witness Growth in Demand
Technological Innovations & Advancements Maintain Robust Momentum
Resolving Prevailing Challenges: Critical for Future Success
Leveraging Existing Designs and Using Low-Cost Materials: An Apt Solution to the High Cost Concern
Military Cooperation: A Double-Edged Sword?
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
Total Companies Profiled: 49
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