Aerial Smart Weapons Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022 to 2028

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Aerial Smart Weapons Market: By Product (Missile, Ammunition, and Other Products), By Technology (Satellite Guidance, Radar Guidance, Infrared Guidance, Laser Guidance), and Geography

 

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Report

Description

Aerial Smart Weapons Market is estimated to be valued at USD 15,376.3 Million in 2021 and is poised to grow at a significant CAGR of 4.5% over 2022-2028. 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 USD 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.

Key Developments:

In February 2021, Lockheed Martin Corporation signed a deal worth USD 414 million with the U.S. Navy and Air Force to provide LRASM. It is an anti-ship, precision-guided standoff missile based on the effective joint air-to-ground standoff missile.

Aerial Smart Weapons Market

MARKET SUMMARY
-
4.5%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 4.5%
  • Largest Market– North-America
  • Fastest Growing Market– Europe

Aerial Smart Weapons Market

  • The aerial smart weapons market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The aerial smart weapons market is segmented based on product, technology and geography.
key players
  • BAE Systems plc
  • General Dynamics Corporation
  • Lockheed Martin Corporation
  • Raytheon Technologies Corporation
Aerial Smart Weapons Market

DRIVERS AND RESTRAINTS

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.


North-America got significant share

Aerial Smart Weapons Market

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
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Findings of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Aerial Smart Weapons Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The Aerial Smart Weapons Market will be studied from 2017 – 2028.

North America is growing at the highest CAGR over 2021- 2026

North America held the highest share in 2021.

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 are the key players of the market.


Report

Company Profile

  • 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

Description

Aerial Smart Weapons Market is estimated to be valued at USD 15,376.3 Million in 2021 and is poised to grow at a significant CAGR of 4.5% over 2022-2028. 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 USD 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.

Key Developments:

In February 2021, Lockheed Martin Corporation signed a deal worth USD 414 million with the U.S. Navy and Air Force to provide LRASM. It is an anti-ship, precision-guided standoff missile based on the effective joint air-to-ground standoff missile.

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