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
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