Aerial Smart Weapons Market size was valued at US$ 15,383.3 Million in 2023 and is poised to grow at a significant CAGR of 4.7% from 2024-2030. A smart weapon uses a guidance system to hit targets with greater accuracy. These are air-to-ground missiles, sensor-fused weapons, steerable bombs, and guided weapons with satellite or laser guidance systems. Furthermore, satellite-guided bombs are equipped with guidance computers that use navigation satellites to confirm the target. Using smart technology, cruise missiles can use navigation satellite information to stay on course. India's Defense Research and Development Organization (DRDO) successfully tested a newly developed Smart Anti-Airfield Weapon (SAAW) equipped on the Hawk-I jet set by Hindustan Aeronautics Limited on January 22, 2021. (HAL). Based on the product type, the global aerial smart weapons market is segmented into Missiles, Ammunition, and Other Products.
The Missiles segment is anticipated to grow at a significant CAGR over the forecast years owing to increasing demand for advanced guided missiles from the defense forces. In September 2019, BAE Systems signed a US$ 2,680 million contract with the United States and nine other countries to provide a semi-guided missile weapons system until 2025. The ammunition segment is expected to grow fastest during the forecast period. The rise in demand for next-generation precision-guided munitions is attributed to increased terrorist activity, political unrest, and cross-border conflicts worldwide. The key factors driving the aerial smart weapons market are significant increases in defense budgets by both developed and developing nations, an increased use rate of advanced weapons, and changing aerial warfare worldwide. Aerial smart weapons systems and guided systems have also advanced technologically.
Study Period
2024-2030Base Year
2023CAGR
4.7%Largest Market
North-AmericaFastest Growing Market
Europe
The growing emphasis on reducing reliance on weapon system imports, several nations are focusing on developing indigenous weapon systems, fueling the market growth. The existing compatibility limitations of indigenous air defense systems with ammunition and armament designed by foreign manufacturers add to this emphasis. Due to these factors, several countries are focusing on developing their smart weapons that can be launched from various platforms, including military aircraft. For example, India's Defense Research and Development Organization (DRDO) is working on a long-range precision-guided anti-airfield weapon called the Smart Anti-Airfield Weapon (SAAW). Moreover, it is also reported that the United States is transferring critical technologies to countries such as Saudi Arabia in order to assist them in developing their own aerial smart weapons. Such advancements are expected to aid in the indigenous development of smart weapons, propelling the market growth during the forecast period.
The Aerial Smart Weapons market in North America will likely hold the highest revenue share in 2021, and the same trend is expected over the forecast period. According to SIPRI, the United States has the highest military spending in the world, with USD 732 billion in 2019. In 2019, the United States alone accounted for 38% of total global defense spending. The country invests heavily in developing advanced smart weapon systems ranging from smart bullets to nuclear-capable hypersonic guided missiles. The government is working on several aerial smart weapon development programs, expected to drive the market in the coming years.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market CAGR |
4.7% |
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By Product |
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By Technology |
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By Region |
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The aerial smart weapons market size was valued at US$ 15,383.3 million in 2023
The aerial smart weapons market key players are: BAE Systems plc General Dynamics Corporation Lockheed Martin Corporation Raytheon Technologies Corporation Northrop Grumman Corporation MBDA Saab AB The Boeing Company Rafael Advanced Defense Systems Ltd. Safran SA Northrop Grumman Corporation Israel Aerospace Industries
The aerial smart weapons market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Aerial Smart Weapons Market Introduction |
| 2.1.Global Aerial Smart Weapons Market - Taxonomy |
| 2.2.Global Aerial Smart Weapons Market - Definitions |
| 2.2.1.Product |
| 2.2.2.Technology |
| 2.2.3.Geography |
| 2.2.4.Region |
| 3. Global Aerial Smart Weapons Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Aerial Smart Weapons Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Aerial Smart Weapons Market By Product, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Missile |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Ammunition |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Others |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Aerial Smart Weapons Market By Technology, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Satellite Guidance |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Radar Guidance |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Infrared Guidance |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Laser Guidance |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7. Global Aerial Smart Weapons Market By Geography, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa (MEA) |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8. Global Aerial Smart Weapons Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9. North America Aerial Smart Weapons Market, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Missile |
| 9.1.2.Ammunition |
| 9.1.3.Others |
| 9.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Satellite Guidance |
| 9.2.2.Radar Guidance |
| 9.2.3.Infrared Guidance |
| 9.2.4.Laser Guidance |
| 9.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.North America |
| 9.3.2.Europe |
| 9.3.3.Asia-Pacific |
| 9.3.4.Latin America |
| 9.3.5.Middle East and Africa (MEA) |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10. Europe Aerial Smart Weapons Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Missile |
| 10.1.2.Ammunition |
| 10.1.3.Others |
| 10.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Satellite Guidance |
| 10.2.2.Radar Guidance |
| 10.2.3.Infrared Guidance |
| 10.2.4.Laser Guidance |
| 10.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.North America |
| 10.3.2.Europe |
| 10.3.3.Asia-Pacific |
| 10.3.4.Latin America |
| 10.3.5.Middle East and Africa (MEA) |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11. Asia Pacific (APAC) Aerial Smart Weapons Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Missile |
| 11.1.2.Ammunition |
| 11.1.3.Others |
| 11.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Satellite Guidance |
| 11.2.2.Radar Guidance |
| 11.2.3.Infrared Guidance |
| 11.2.4.Laser Guidance |
| 11.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.North America |
| 11.3.2.Europe |
| 11.3.3.Asia-Pacific |
| 11.3.4.Latin America |
| 11.3.5.Middle East and Africa (MEA) |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12. Middle East and Africa (MEA) Aerial Smart Weapons Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Missile |
| 12.1.2.Ammunition |
| 12.1.3.Others |
| 12.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Satellite Guidance |
| 12.2.2.Radar Guidance |
| 12.2.3.Infrared Guidance |
| 12.2.4.Laser Guidance |
| 12.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.North America |
| 12.3.2.Europe |
| 12.3.3.Asia-Pacific |
| 12.3.4.Latin America |
| 12.3.5.Middle East and Africa (MEA) |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13. Latin America Aerial Smart Weapons Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Product Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Missile |
| 13.1.2.Ammunition |
| 13.1.3.Others |
| 13.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Satellite Guidance |
| 13.2.2.Radar Guidance |
| 13.2.3.Infrared Guidance |
| 13.2.4.Laser Guidance |
| 13.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.North America |
| 13.3.2.Europe |
| 13.3.3.Asia-Pacific |
| 13.3.4.Latin America |
| 13.3.5.Middle East and Africa (MEA) |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.BAE Systems plc |
| 14.2.2.General Dynamics Corporation |
| 14.2.3.Lockheed Martin Corporation |
| 14.2.4.Raytheon Technologies Corporation |
| 14.2.5.Northrop Grumman Corporation |
| 14.2.6.MBDA |
| 14.2.7.Saab AB |
| 14.2.8.The Boeing Company |
| 14.2.9.Rafael Advanced Defense Systems Ltd. |
| 14.2.10.Safran SA |
| 14.2.11.Northrop Grumman Corporation |
| 14.2.12.Israel Aerospace Industries |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
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