https://www.fortunebusinessinsights.com/smart-weapons-market-104058

Smart Weapons Market
Forecast, Trends, Growth,
Size and Insights
The global smart weapons market size is expected to showcase
exponential growth by reaching USD 45.24 billion by 2032. This
information is published by Fortune Business Insights in its latest
report, titled, “Smart Weapons Market Size, S8.02%hare and
Trends 2024–2032.”

The report further mentions that the market stood at USD 20.20
billion in 2024 and is projected to exhibit a CAGR of 10.61%
between 2024 and 2032. Factors such the increasing defense budget

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that is propelling countries to upgrade their military and the
increasing focus on introducing advanced smart weapons are
expected to boost the market’s growth in the forthcoming years.
List of the Companies Profiled in the Global Market:
 BAE Systems (The U.K)
 Lockheed Martin Corporation (The U.S.)
 Thales Group (France)
 Northrop Grumman Corporation (The U.S.)
 General Dynamics Corporation (The U.S.)
 Raytheon Company, a Raytheon Technologies company (The
U.S.)
 MBDA (France)
 Boeing (The U.S.)
 Textron Inc. (The U.S.)
 Rheinmetall AG (Germany)
Information Source:
https://www.fortunebusinessinsights.com/smart-weapons-market-
104058
Market Segmentation:
Based on product, the market is categorized into Missiles,
Munitions, Guided Projectile, Guided Rocket, and Directed Energy
Weapons. On the basis of platform, the market is segmented into
Air, Land, and Naval.
 Based on the platform, the land segment is anticipated to
experience considerable growth backed by the increasing
expenditure on defense by the military worldwide.
Based on technology, the market is divided into Laser Guidance,
Infrared Guidance, Radar Guidance, Satellite Guidance, and Others.
Lastly, on the basis of region, the market is segregated into Rest of
the World, North America, Europe, and Asia-Pacific.
What does the Report Include?
The global market for smart weapons report provides analysis of the
market while focusing on key aspects such as smart weapons
product, platform, key players, and technology. Furthermore, the
report offers in-depth insights on market trends, market
competition, market status, competitive landscape, product pricing,
and highlights key industry developments. Additionally, the report
includes several direct and indirect factors that are likely to
contribute to the growth of the market between 2021 and 2028.
DRIVING FACTORS
Increasing Defense Budget Worldwide to Augment Growth
According to the Stockholm International Peace Research Institute
(SIPRI), the United States allotted an overall defense budget worth
USD 732 billion in 2020 with an aim to upgrade its military might.
Likewise, other countries have increased their defense budgets as
the growing focus to include advanced weapon systems in the
repository to avert external threats is likely to boost the product’s
adoption across the globe. Moreover, the increasing demand for next
generation advanced weapons is expected to boost the global smart
weapons market growth in the forthcoming years.
REGIONAL INSIGHTS
North America — The region stood at USD 5.79 billion in 2020
and is expected to hold the largest global smart weapons market
share in the forthcoming years. This is attributable to the presence
of major companies such as Lockheed Martin Corporation, General
Dynamics Corporation, Boeing company, and Northrop Grumman
Corporation that are involved in development of advanced weaponry
systems in the region.
Asia-Pacific — The market in the region is anticipated to showcase
significant growth backed by the increasing investment in the
defense sector that is likely to propel the adoption of smart weapons
in the region between 2021 and 2028.
COMPETITIVE LANDSCAPE

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Increasing Investment in R&D Activities by Major
Companies to Brighten Their Market Prospects
The market is consolidated by the presence of major companies and
other established original equipment manufacturers (OEMs). They
are proactively focusing on investing in developing advanced
weapons technology to cater to the growing demand from defense
authorities globally. Moreover, other key players are adopting
strategies such as collaborations and partnerships to maintain their
presence in the highly competitive global marketplace in the
forthcoming years.
Industry Development:
 January 2021 — Defense Research and Development
Organization (DRDO), India successfully conducted a trial of
the newly developed Smart Anti-Airfield Weapon (SAAW).
The system, according to the officials, was equipped on the
Hawk-I jet manufactured by the Hindustan Aeronautics
Limited (HAL).