Precision Guided Munition Market
Precision Guided Munition Market Analysis by Product (Tactical Missile, Guided Ammunition, Guided Rockets, Loitering Munition) By Technology (Anti-Radiation, Radar Homing, Global Positioning System, Inertial Navigation System, Semi-Active Lasers) & Regional Forecast 2022 to 2032
Analysis of Precision Guided Munition market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Global Precision Guided Munition Market Outlook (2022 to 2032)
The global precision guided munition market was estimated to be worth US$ 30 Bn in the year 2021. The market is forecast to reach a value of over US$ 34 Bn by 2022-end, and is expected to grow with steady CAGR of 5% during the forecast period, 2022 to 2032. By the end of 2032, the market is predicted to reach a global valuation of US$ 56.44 Bn.
| Report Attributes | Details |
|---|---|
| Market Value of Precision Guided Munitions in 2021 | US$ 30 Bn |
| Projected Value of the Precision Guided Munition Market in 2022 | US$ 34.65 Bn |
| Expected Value of the Precision Guided Munition Market in 2032 | US$ 56.44 Bn |
| CAGR during the forecast period, 2022 to 2032 | 5% |
| Key Players offering Precision Guided Munitions | General Dynamics; Northrop Grumman; BAE Systems; Thales Group; Raytheon; Atlas Elektronik; Lockheed Martin |
In 2021, Asia Pacific accounted for more than 31% of the global market and is expected to continue its dominance over the forecast period. Increasing tensions between countries in this region and the immediate need to improve the defense capabilities are likely to foster the development of precision-guided munitions.
The maximum share in this market is occupied by the GPS (Global Positioning System) segment as it is expected to provide real time location and movements which will help in various war activities.
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Demand Analysis of Precision Guided Munition, 2015 to 2021 vs. Market Outlook 2022 to 2032
According to Fact.MR, a market research and competitive intelligence provider, from 2015 to 2021, the global market for precision guided munition expanded at a CAGR of approximately 4.2%. Mounting international tensions concerning borders and mounting defence budgets have significantly widened growth prospects for the industry in the past few years.
Aside from the lockdowns and government restrictions on public gatherings, the COVID-19 situation has hindered R&D in all precision guided munition companies worldwide. Because of the pandemic, government funds have been redirected towards economic recovery, which may affect industries that order precision guided munitions.
Simultaneously, during the next decade, the market will go through significant growth due to the enhanced changes in the military operations and adopting enhanced techniques in warfare. Furthermore, toughening security measures around the world could make precision-guided munitions more prevalent. Military and tactical operations have been made more cautious as a result of political and territorial conflicts between major economies. Most major economies purchase advanced war equipment for precise operation as a means of ensuring national security. From 2022 to 2032, the industry is poised to expand 1.6x.
What are the Specific Drivers of the Precision Guided Munition Market?
Extensive Consolidation of National Defence Capabilities Widening Growth Prospects
Modern defense systems to tackle war-like situations and the need for territorial protection have driven major countries to deploy advanced defense and attacking systems. Over the forecast period, there is likely to be an increase in security measures for guarding activities. Most major economies are investing in advanced war equipment that can perform precise operations.
The development of technology and collaboration with foreign defense departments will boost the market's growth. Insurgencies and border conflicts are pushing demand for high-tech ammunition to cross US$ 15 Bn by 2032, as geopolitical tensions and border conflicts are increasing.
Land-based border security systems are being deployed by various nations. On August 17, 2019, the U.S. and Russia announced they had withdrawn from the Intermediate-range Nuclear Force Treaty, which has been in place for 31 years. In this way, both countries have the option of using land-based guided munitions with a range of 310 to 3,400 miles on their borders.
Advanced Technological Innovations in Weapons Systems to Accelerate Growth
Precision guided munition is capable of detecting enemy radar and damaging communications networks by targeting them with precision. Global growth will be boosted by the efforts of various countries to develop advanced anti-radiation missiles. A USAF request for information was received in January 2020 from the US navy's Advanced Anti-radiation Guided Missile extended range program (AARGM-ER) regarding modifications to F-35 fighter jets.
With the modification program, fifth-generation airliners will be able to integrate anti-radiation missiles. As part of the program, new and upcoming threats will be researched and developed. The market growth can be attributed to the increasing requirements of various nations to acquire autonomous guided munition. The conversion of dumb/normal bombs into autonomous precision guided munitions is another major market accelerator.
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Country-wise-Analysis
How will the U.S market change during the forecast period?
Spending more to strengthen the defense will bolster the market
As of 2021, the U.S. market was estimated at US$ 5.3 Bn, with a significant growth rate expected for the next ten years. Continuing conflict between the U.S. and Iran is expected to lead to an increase in defense spending, which will influence the market in a positive manner for guided weapons through the forecast period.
According to the U.S Department of Defense announced that as of FY 2022, it possessed US$ 991.88 billion in available budgetary resources, denoting nearly 12% of the FY 2022 U.S Federal Budget. Out of this allocation, the agency spent US$ 381.48 billion, or 38.5% of total budgetary resources. Besides procuring conventional weapons, the country intends to strengthen existing ammunitions capabilities.
Furthermore, the National Defense Strategy of 2021 articulated a renewed focus on great power competition for combating anti-access/area denial (A2/AD) systems. This wide proliferation of A2/AD systems is likely to increase the operational utility of precision guided munitions across the country. According to Fact.MR, the U.S is expected to account for 40% of total market value through 2032.
What is the outlook of the Asia-Pacific market?
30% of the global market is expected to be occupied by the Asia-Pacific
According to Fact.MR, Asia Pacific is expected to account for more than 30% of global revenue. The region is expected to grow at the fastest CAGR during the forecast period. Among the largest players ordering tactical warfare are China, South Korea, North Korea, India, Japan, and Pakistan.
The penetration of guided weapons is expected to increase as a result of technological developments and collaborations with foreign defense departments. In its recently concluded budget, the Indian Government has allocated over ? 500,000 crores (US$ 66 billion) to the Ministry of Defense, a hike of 10% compared to the previous FY.
Likewise, in China, the government allocated ¥ 1.36 trillion (US$ 213 billion) in 2021 to its defense capabilities, representing an increase of 6.8% compared to FY2020. Such budgetary allocations are unsurprising, given the highly volatile nature of border conflicts across key Asian countries. Hence, the market is expected to post significant gains across the region.
Category-wise Insights
Why is there an Increasing Demand for Tactical Missiles?
Enhanced damage capability and long range travel is attracting the sales
More than 70% of global revenue is expected to be generated by the tactical missiles segment. Due to the long-range travel and extreme damage capability of tactical missiles, this trend is expected to continue.
In addition to the presence of nuclear warheads, these missiles can also be equipped with navigation systems and launched to destroy targets at desired locations, from the air or the surface. These capabilities are expected to drive the market.
Is GPS is the new need of this Market?
Features like real-time locating and accuracy are driving the market
During 2021, Global Positioning System (GPS) revenue accounted for more than 69% of global revenue. Targets are located using technology. Its growing demand for guided weapons is the result of the ease of illuminating the target for aerial attacks.
In the next few years, however, GPS technology will likely replace semi active laser guidance for war weapons. In the future, GPS-enabled guided munitions for long-range warfare may be more popular due to the ability to accurately locate and track targets in real time.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
Several global firms dominate the global market, resulting in intense competition. Several major corporations and defense agencies across the world are investing heavily in research and development activities to develop precision-guided equipment. Market players have been able to expand their business and customer base as a result of these activities. As the global market for precision guided munitions emerges, market players are expected to enjoy lucrative growth opportunities in the future.
- BAE Systems signed a contract with the U.S. Navy for USD 114.5 million to revamp USS Bulkeley (DDG 84), a guided-missile destroyer.
- Lockheed Martin and Raytheon's joint venture company, Javelin, was awarded the 2100 F-Model missiles contract in January 2019.
Key Segments Covered in the Precision Guided Munition Industry Survey
-
By Product :
- Precision Guided Tactical Missile
- Precision Guided Ammunition
- Precision Guided Rockets
- Precision Loitering Munition
-
By Technology :
- Anti-Radiation Precision Guided Munition
- Radar Homing Precision Guided Munition
- Global Positioning System-based Precision Guided Munition
- Inertial Navigation System-based Precision Guided Munition
- Precision Guided Semi-Active Lasers
- Infrared Precision Guided Munition
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Market Risks and Trends Assessment
- 4. Market Background and Foundation Data Points
- 5. Key Success Factors
- 6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032
- 7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032
- 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Product
- 8.1. Tactical Missile
- 8.2. Guided Rockets
- 8.3. Guided Ammunition
- 8.4. Loitering Munition
- 9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Technology
- 9.1. Infrared
- 9.2. Semi-Active Lasers
- 9.3. Inertial Navigation System (INS)
- 9.4. Global Positioning System (GPS)
- 9.5. Radar Homing
- 9.6. Anti-Radiation
- 9.7. Others
- 10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region
- 10.1. North America
- 10.2. Latin America
- 10.3. Europe
- 10.4. Asia Pacific
- 10.5. Middle East and Africa (MEA)
- 11. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 12. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 13. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 14. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 15. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 16. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 17. Market Structure Analysis
- 18. Competition Analysis
- 18.1. Lockheed Martin
- 18.2. Atlas Elektronik
- 18.3. Raytheon
- 18.4. Thales Group
- 18.5. BAE Systems
- 18.6. Northrop Grumman
- 18.7. General Dynamics
- 18.8. Elbit Systems
- 18.9. MBDA
- 18.10. Saab AB
- 19. Assumptions and Acronyms Used
- 20. Research Methodology
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List Of Table
Table 1: Global ;Market Value (US$ Mn), By Product , 2015 to 2021
Table 2: Global ;Market Value (US$ Mn), By Product , 2022 to 2032
Table 3: Global ;Market Value (US$ Mn), By Technology ;, 2015 to 2021
Table 4: Global ;Market Value (US$ Mn), By Technology ;, 2022 to 2032
Table 5: Global ;Market, By Region, 2015 to 2021
Table 6: Global ;Market, By Region, 2022 to 2032
Table 7: North America ;Market Value (US$ Mn), By Product , 2015 to 2021
Table 8: North America ;Market Value (US$ Mn), By Product , 2022 to 2032
Table 9: North America ;Market Value (US$ Mn), By Technology ;, 2015 to 2021
Table 10: North America ;Market Value (US$ Mn), By Technology ;, 2022 to 2032
Table 11: North America ;Market, By Country, 2015 to 2021
Table 12: North America ;Market, By Country, 2022 to 2032
Table 13: Latin America ;Market Value (US$ Mn), By Product , 2015 to 2021
Table 14: Latin America ;Market Value (US$ Mn), By Product , 2022 to 2032
Table 15: Latin America ;Market Value (US$ Mn), By Technology ;, 2015 to 2021
Table 16: Latin America ;Market Value (US$ Mn), By Technology ;, 2022 to 2032
Table 17: Latin America ;Market, By Country, 2015 to 2021
Table 18: Latin America ;Market, By Country, 2022 to 2032
Table 19: Europe ;Market Value (US$ Mn), By Product , 2015 to 2021
Table 20: Europe ;Market Value (US$ Mn), By Product , 2022 to 2032
Table 21: Europe ;Market Value (US$ Mn), By Technology ;, 2015 to 2021
Table 22: Europe ;Market Value (US$ Mn), By Technology ;, 2022 to 2032
Table 23: Europe ;Market, By Country, 2015 to 2021
Table 24: Europe ;Market, By Country, 2022 to 2032
Table 25: Asia Pacific ;Market Value (US$ Mn), By Product , 2015 to 2021
Table 26: Asia Pacific ;Market Value (US$ Mn), By Product , 2022 to 2032
Table 27: Asia Pacific ;Market Value (US$ Mn), By Technology ;, 2015 to 2021
Table 28: Asia Pacific ;Market Value (US$ Mn), By Technology ;, 2022 to 2032
Table 29: Asia Pacific ;Market, By Country, 2015 to 2021
Table 30: Asia Pacific ;Market, By Country, 2022 to 2032
Table 31: MEA ;Market Value (US$ Mn), By Product , 2015 to 2021
Table 32: MEA ;Market Value (US$ Mn), By Product , 2022 to 2032
Table 33: MEA ;Market Value (US$ Mn), By Technology ;, 2015 to 2021
Table 34: MEA ;Market Value (US$ Mn), By Technology ;, 2022 to 2032
Table 35: MEA ;Market, By Country, 2015 to 2021
Table 36: MEA ;Market, By Country, 2022 to 2032
Table 37: Global ;Market Incremental $ Opportunity, By Product , 2015 to 2021
Table 38: Global ;Market Incremental $ Opportunity, By Technology ;, 2022 to 2032
Table 39: Global ;Market Incremental $ Opportunity, By Region, 2022 to 2032
Table 40: North America ;Market Incremental $ Opportunity, By Product , 2015 to 2021
Table 41: North America ;Market Incremental $ Opportunity, By Technology ;, 2022 to 2032
Table 42: North America ;Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 43: Latin America ;Market Incremental $ Opportunity, By Product , 2015 to 2021
Table 44: Latin America ;Market Incremental $ Opportunity, By Technology ;, 2022 to 2032
Table 45: Latin America ;Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 46: Europe ;Market Incremental $ Opportunity, By Product , 2015 to 2021
Table 47: Europe ;Market Incremental $ Opportunity, By Technology ;, 2022 to 2032
Table 48: Europe ;Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 49: Asia Pacific ;Market Incremental $ Opportunity, By Product , 2015 to 2021
Table 50: Asia Pacific ;Market Incremental $ Opportunity, By Technology ;, 2022 to 2032
Table 51: Asia Pacific ;Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 52: MEA ;Market Incremental $ Opportunity, By Product , 2015 to 2021
Table 53: MEA ;Market Incremental $ Opportunity, By Technology ;, 2022 to 2032
Table 54: MEA ;Market Incremental $ Opportunity, By Country, 2022 to 2032
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List Of Figures
Figure 1: Global ;Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 2: Global ;Market Absolute $ Historical Gain (2015 to 2021) and Opportunity (2022 to 2032), US$ Mn
Figure 3: Global ;Market Share, By Product , 2022 & 2032
Figure 4: Global ;Market Y-o-Y Growth Projections, Product ; to 2022 to 2032
Figure 5: Global ;Market Attractiveness Index, Technology ; to 2022 to 2032
Figure 6: Global ;Market Share, By Technology ;, 2022 & 2032
Figure 7: Global ;Market Y-o-Y Growth Projections, By Technology ; to 2022 to 2032
Figure 8: Global ;Market Attractiveness Index, By Technology ; to 2022 to 2032
Figure 9: Global ;Market Share, By Region, 2022 & 2032
Figure 10: Global ;Market Y-o-Y Growth Projections, By Region to 2022 to 2032
Figure 11: Global ;Market Attractiveness Index, By Region to 2022 to 2032
Figure 12: North America ;Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 13: North America ;Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 14: North America ;Market Share, By Product ;, 2022 & 2032
Figure 15: North America ;Market Y-o-Y Growth Projections, By Product ; to 2022 to 2032
Figure 16: North America ;Market Attractiveness Index, By Product ; to 2022 to 2032
Figure 17: North America ;Market Share, By Technology ;, 2022 & 2032
Figure 18: North America ;Market Y-o-Y Growth Projections, By Technology ; to 2022 to 2032
Figure 19: North America ;Market Attractiveness Index, By Technology ; to 2022 to 2032
Figure 20: North America ;Market Share, By Country, 2022 & 2032
Figure 21: North America Market Y-o-Y Growth Projections, By Country to 2022 to 2032
Figure 22: North America Market Attractiveness Index, By Country to 2022 to 2032
Figure 23: Latin America ;Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 24: Latin America ;Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 25: Latin America ;Market Share, By Product ;, 2022 & 2032
Figure 26: Latin America ;Market Y-o-Y Growth Projections, By Product ; to 2022 to 2032
Figure 27: Latin America ;Market Attractiveness Index, By Product ; to 2022 to 2032
Figure 28: Latin America ;Market Share, By Technology ;, 2022 & 2032
Figure 29: Latin America ;Market Y-o-Y Growth Projections, By Technology ; to 2022 to 2032
Figure 30: Latin America ;Market Attractiveness Index, By Technology ; to 2022 to 2032
Figure 31: Latin America ;Market Share, By Country, 2022 & 2032
Figure 32: Latin America ;Market Y-o-Y Growth Projections, By Country to 2022 to 2032
Figure 33: Latin America ;Market Attractiveness Index, By Country to 2022 to 2032
Figure 34: Europe ;Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 35: Europe ;Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 36: Europe ;Market Share, By Product ;, 2022 & 2032
Figure 37: Europe ;Market Y-o-Y Growth Projections, By Product ; to 2022 to 2032
Figure 38: Europe ;Market Attractiveness Index, By Product ; to 2022 to 2032
Figure 39: Europe ;Market Share, By Technology ;, 2022 & 2032
Figure 40: Europe ;Market Y-o-Y Growth Projections, By Technology ; to 2022 to 2032
Figure 41: Europe ;Market Attractiveness Index, By Technology ; to 2022 to 2032
Figure 42: Europe ;Market Share, By Country, 2022 & 2032
Figure 43: Europe ;Market Y-o-Y Growth Projections, By Country to 2022 to 2032
Figure 44: Europe ;Market Attractiveness Index, By Country to 2022 to 2032
Figure 45: MEA ;Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 46: MEA ;Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period(2022 to 2032), US$ Mn
Figure 47: MEA ;Market Share, By Product ;, 2022 & 2032
Figure 48: MEA ;Market Y-o-Y Growth Projections, By Product ; to 2022 to 2032
Figure 49: MEA ;Market Attractiveness Index, By Product ; to 2022 to 2032
Figure 50: MEA ;Market Share, By Technology ;, 2022 & 2032
Figure 51: MEA ;Market Y-o-Y Growth Projections, By Technology ; to 2022 to 2032
Figure 52: MEA ;Market Attractiveness Index, By Technology ; to 2022 to 2032
Figure 53: MEA ;Market Share, By Country, 2022 & 2032
Figure 54: MEA ;Market Y-o-Y Growth Projections, By Country to 2022 to 2032
Figure 55: MEA ;Market Attractiveness Index, By Country to 2022 to 2032
Figure 56: Asia Pacific ;Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 57: Asia Pacific ;Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 58: Asia Pacific ;Market Share, By Product ;, 2022 & 2032
Figure 59: Asia Pacific ;Market Y-o-Y Growth Projections, By Product ; to 2022 to 2032
Figure 60: Asia Pacific ;Market Attractiveness Index, By Product ; to 2022 to 2032
Figure 61: Asia Pacific ;Market Share, By Technology ;, 2022 & 2032
Figure 62: Asia Pacific ;Market Y-o-Y Growth Projections, By Technology ; to 2022 to 2032
Figure 63: Asia Pacific ;Market Attractiveness Index, By Technology ; to 2022 to 2032
Figure 64: Asia Pacific ;Market Share, By Country, 2022 & 2032
Figure 65: Asia Pacific ;Market Y-o-Y Growth Projections, By Country to 2022 to 2032
Figure 66: Asia Pacific ;Market Attractiveness Index, By Country to 2022 to 2032
Figure 67: US ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 68: US ;Market Share, By Product ;, 2021
Figure 69: US ;Market Share, By Technology ;, 2021
Figure 70: Canada ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 71: Canada ;Market Share, By Product ;, 2021
Figure 72: Canada ;Market Share, By Technology ;, 2021
Figure 73: Brazil ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 74: Brazil ;Market Share, By Product ;, 2021
Figure 75: Brazil ;Market Share, By Technology ;, 2021
Figure 76: Mexico ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 77: Mexico ;Market Share, By Product ;, 2021
Figure 78: Mexico ;Market Share, By Technology ;, 2021
Figure 79: Germany ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 80: Germany ;Market Share, By Product ;, 2021
Figure 81: Germany ;Market Share, By Technology ;, 2021
Figure 82: U.K. ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 83: U.K. ;Market Share, By Product ;, 2021
Figure 84: U.K. ;Market Share, By Technology ;, 2021
Figure 85: France ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 86: France ;Market Share, By Product ;, 2021
Figure 87: France ;Market Share, By Technology ;, 2021
Figure 88: Italy ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 89: Italy ;Market Share, By Product ;, 2021
Figure 90: Italy ;Market Share, By Technology ;, 2021
Figure 91: BENELUX ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 92: BENELUX ;Market Share, By Product ;, 2021
Figure 93: BENELUX ;Market Share, By Technology ;, 2021
Figure 94: Nordic Countries ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 95: Nordic Countries ;Market Share, By Product ;, 2021
Figure 96: Nordic Countries ;Market Share, By Technology ;, 2021
Figure 97: China ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 98: China ;Market Share, By Product ;, 2021
Figure 99: China ;Market Share, By Technology ;, 2021
Figure 100: Japan ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 101: Japan ;Market Share, By Product ;, 2021
Figure 102: Japan ;Market Share, By Technology ;, 2021
Figure 103: South Korea ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 104: South Korea ;Market Share, By Product ;, 2021
Figure 105: South Korea ;Market Share, By Technology ;, 2021
Figure 106: GCC Countries ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 107: GCC Countries ;Market Share, By Product ;, 2021
Figure 108: GCC Countries ;Market Share, By Technology ;, 2021
Figure 109: South Africa ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 110: South Africa ;Market Share, By Product ;, 2021
Figure 111: South Africa ;Market Share, By Technology ;, 2021
Figure 112: Turkey ;Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 113: Turkey ;Market Share, By Product ;, 2021
Figure 114: Turkey ;Market Share, By Technology ;, 2021
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What was the size of the global precision guided munition market in 2021?
The size of the global precision guided munition market was worth US$ 30 Bn in 2021.
At what value is the precision guided munition industry expected to close by 2022?
According to Fact.MR, the market for precision guided munition is likely to reach US$ 34.65 Bn by 2022-end
What can be expected from this market during the forecast period?
During the forecast period, 2022- 2032, the market is projected to grow steadily with a CAGR of 5% and reach US$ 56.44 Bn at the end of 2032.
How much of the market share was is expected to be taken over by Asia Pacific in 2022?
Almost around 30% of the global market share is likely to be taken over by Asia Pacific in 2022
What are the growth prospects for precision guided munition in the U.S?
As per Fact.MR, the U.S market for precision guided munition is expected to contribute 40% of global revenue
Which segment is considered to pull the growth of the global revenue for this market?
The tactical missiles segment is going to pull more than 70% of the global market revenue during the forecast period.
How much of the market share was taken over by the GPS segment in 2021?
Over 69% of the global market share was taken over by the GPS segment in 2021.
Precision Guided Munition Market