The global smart bullet market is expected to rise at a CAGR of about 15.16% during the forecast period 2016-2023.
Frequent incidences of terrorist attacks across the globe is one of the major factor which contributes to the growth of global smart bullets market during forecast period. Also, increasing defense budget across the globe and technological advancements in smart bullets is expected to promote the growth of global smart bullet market during forecast period.
However, high manufacturing cost of smart bullet is one of the major factor restraining the growth of global smart bullet market during the forecast period.
The global smart bullet market report has been geographically segmented in four major regions such as North America, Asia Pacific, Europe and Rest of World. North America held the largest market revenue share for smart bullet market in 2016 and is expected to dominate the market during forecast period. High military and defense expenditure by government in regions of North America as well as presence of major market players across the region contributes to its dominance. Asia Pacific is expected to be the fastest growing region during the forecast period due to incidences of frequent terror attacks across the region.
The growth in the global smart bullet market is also influenced by presence of major market players of global smart bullet market such as Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), BAE Systems (U.K.), The Raytheon Company (U.S.), Boeing Corporation (U.S.), etc.
The major market players adopt various strategies such as mergers & acquisitions, product launch, strategic partnership, collaboration, joint ventures, etc. to gain competitive advantage and sustain in the dynamic market with intense market competition.
The report on global smart bullet market covers various segments such as product type and end user. Report further covers segments of product type which includes guided smart bullet and self-guided smart bullets. In product type segment, self guided bullets held the largest market revenue share in 2016 and is expected to dominate the market during the forecast period its increasing usage.
Further, end user segment of smart bullet includes airborne, land and naval. In end users, land segment held the largest market revenue share and is expected to dominate the market during the forecast period due to high investments in land military and defense weapon.
3. Market Determinants 3.1. Market Drivers 3.1.1. Increasing Defense Budget Globally 3.1.2. Rising Demand For Smart Defense Weapons 3.1.3. Technological Innovations In Smart Bullets 3.1.4. Frequent Terror Attacks 3.2. Market Restraints 3.2.1. High Manufacturing Cost 3.2.2. Arms Transfer Regulations 3.3. Market Opportunities 3.3.1. Rising Demand For Smart Bullet From Navy And Air Force 3.3.2. High Research And Development Activities 3.4. Market Challenges 3.4.1. Compatibility And Integration With All Types Of Weapons
4. Market Segmentation 4.1. Global Smart Bullet Market By Product Type 4.1.1. Market Definition And Scope 4.1.2. Decision Support Database & Estimation Methodology 4.1.3. Comparative Analysis Across Market Segments 4.1.4. Opportunity Matrix 4.1.5. Market Segmentation 22.214.171.124. Global Guided Smart Bullet Market 126.96.36.199. Global Self-Guided Smart Bullet Market 4.2. Global Smart Bullet Market By End User 4.2.1. Market Definition And Scope 4.2.2. Decision Support Database & Estimation Methodology 4.2.3. Comparative Analysis Across Market Segments 4.2.4. Opportunity Matrix 4.2.5. Market Segmentation 188.8.131.52. Global Airborne Market 184.108.40.206. Global Land Market 220.127.116.11. Global Naval Market
5. Competitive Landscape 5.1. Key Strategies 5.1.1. List Of Mergers And Acquisitions 5.1.2. List Of Joint Ventures 5.1.3. List Of Product Launches 5.1.4. List Of Partnerships
6. Geographic Analysis 6.1. Decision Support Database & Estimation Methodology 6.2. Comparative Analysis Across Market Segments 6.3. Opportunity Matrix 6.4. Global smart Bullet Market By Region 2014-2023 ($ Million)