Precision Guided Missiles Market 2021-2031

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The Precision Guided Missiles Market 2021-2031 is segmented by Product, Technology, Platform, and Region. The regional competitive mapping for this segment is provided across North America, Europe, APAC, the Middle East, and the RoW. The product-wise segmentation for this vertical encompasses tactical missiles, guided rockets, guided ammunition, torpedoes, and loitering munitions. The Table of Content would give the readers a perspective of the coverage of the Precision Guided Missiles Market 2021-2031.

Description

Precision Guided weapons were first introduced in the year 1943 by the Germans. A 3100 lb MCLOS (Manual Command to a line of sight) guidance Fritz X was used to successfully attack the Italian battleship, Roma. A precision guided weapon is a sub-set of the smart weapons market. The munition is used to acquire a target via precise geometric calculations. The weapon is guided via the use of a hardware system like a computer or a mobile system. Precision guided weapons unlike unguided munitions have a high hit to miss ratio. These weapons are curated to acquire a specific target via a pre-defined projectile motion. The use of this technology is anticipated to accelerate the lethality of a military force.

Precision guided weapons also reduce the collateral damage caused during warfare. The use of this technology reduces the instances of misguided fires thus reducing the number of battle casualties. Additionally, the precise nature of these munitions also reduces the risks posed to the civilians stationed in and around the battlefield. It is to be noted that precision guided weapons accounted for roughly 9% of the munitions used during the Gulf War. However, the number of successful hits amongst these acquired munitions accounted for 75% of the fired weapons.

The increased use of precision guided weapons has hereafter reduced the market potential for iron bombs. The increased focus on troops’ safety is one of the key factors behind the same.

On studying the overall market for precision guided weapons it is seen that the market is segmented by Product, Technology, Platform, and Region. The regional competitive mapping for this segment is provided across North America, Europe, APAC, the Middle East, and the RoW. The product-wise segmentation for this vertical encompasses tactical missiles, guided rockets, guided ammunition, torpedoes, and loitering munitions. The technology-based segmentation for this market includes Infrared, Laser, Inertial Navigation systems, Global Positioning Systems, Radar homing, and anti-radiation.

One of the key drivers for this market is the brewing geopolitical tensions within the global markets. As of 2020, missions like counter-insurgency and counter-terrorism have instated an increased demand for precision guided weapons within these global markets. As of 2021, the US DOD requested roughly USD 4.1 Billion worth of munitions (41,337) across 15 programs. As of 2020, it was anticipated that the US government would spend roughly USD 4.4 Billion for 34,454 ammunitions in the year 2021. On making a comparison between the actual and speculated value, it is seen that a decrease of 8.5% was witnessed in the actual defense spending. Moreover, a 20% increase in weapon quantity was also noted. In the year 2021, the procurement for long-range missiles plummeted within the US defense forces while the acquisition of short-range guided bombs increased subsequently.

In terms of technological development, the growth in the adoption of hypersonic missiles is anticipated to define the overall market dynamics. These weapons travel at a speed five times faster than the speed of sound (Mach 5). Their increased speed and precision help combat adversaries in terms of incoherent projectile mapping and reduced reaction time.

Table of Contents

Market Definition

 

Market Segmentation

 

– By Technology

– By Platform

– By Region

– By Product

 

10 Year Market Outlook

 

The 10-year market outlook would give a detailed overview of changing dynamics, technology adoption overviews and the overall market attractiveness is covered in this chapter.

 

Market Technologies

 

This segment covers the top 10 technologies that is expected to impact this market and the possible implications these technologies would have on the overall market.

 

Global Market Forecast

 

The 10-year market forecast of this market is covered in detailed across the segments which are mentioned above.

 

Regional Market Trends & Forecast

 

The regional market trends, drivers, restraints and Challenges of this market, the Political, Economic, Social and Technology aspects are covered in this segment. The market forecast and scenario analysis across regions are also covered in detailed in this segment. The last part of the regional analysis includes profiling of the key companies, supplier landscape and company benchmarking.

 

North America

 

– Drivers, Restraints and Challenges

– PEST

– Market Forecast & Scenario Analysis

– Key Companies

– Supplier Tier Landscape

– Company Benchmarking

 

Europe

Middle East

APAC

South America

 

Country Analysis

 

This chapter deals with the key defense programs in this market, it also covers the latest news and patents which have been filed in this market. Country level 10 year market forecast and scenario analysis are also covered in this chapter.

 

US

– Defense Programs

– Latest News

– Patents

– Current levels of technology maturation in this market

– Market Forecast & Scenario Analysis

 

Canada

Italy

France

Germany

Netherlands

Belgium

Spain

Sweden

Greece

Australia

South Africa

India

China

Russia

South Korea

Japan

Malaysia

Singapore

Brazil

 

Opportunity Matrix

 

The opportunity matrix helps the readers understand the high opportunity segments in this market.

 

Expert Opinions

 

Hear from our experts their opinion of the possible outlook for this market.

 

Conclusions

 

About Aviation and Defense Market Reports

Countries Covered

US

Canada

Italy

France

Germany

Netherlands

Belgium

Spain

Sweden

Greece

Australia

South Africa

India

China

Russia

South Korea

Japan

Malaysia

Singapore

Brazil

Regions Covered

North America

South America

Europe

Middle East

Asia

Segments Covered

By Region

By Technology

By Platform

By Product