Insights Into the World Precision Guided Munition Market 2019-2025: Development of Hybrid Precision Guided Munitions Presents Opportunities

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Jun 19, 2019, 10:45 ET

DUBLIN, June 19, 2019 /PRNewswire/ -- The "Precision Guided Munition Market by Product (Tactical Missiles, Guided Rockets, Guided Ammunition & Loitering Munition), Technology (Infrared, Semi-active Lasers, Radar Homing, GPS, INS, Anti-radiation), Type, Speed, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The precision-guided munition market is projected to grow from USD 30 billion in 2019 to USD 47.5 billion by 2025, at a CAGR of 8% from 2019 to 2025.

Increasing procurement of precision guided munition, and ongoing military modernization programs are key factors fueling the growth of the precision guided munition market across the globe.

The rising instances of asymmetric warfare and increasing demand for miniaturized weapons are some of the factors expected to fuel the growth of the precision-guided munition market.

Based on product, the tactical missile segment is projected to lead the precision guided munition market from 2019 to 2025.

Based on product, the tactical missiles segment estimated to lead the precision guided munition market in 2019 and is expected to continue its dominance till 2025. Tactical missiles are versatile weapons and can be fired in various modes, angles, and platforms. Tactical missiles are equipped with advanced guidance technologies which enable them to hit targets with high accuracy. Military forces of different countries across the globe have increased the use of precision-guided munition to enhance their military capabilities.

Based on technology, the GPS segment is projected to grow at the highest CAGR from 2019 to 2025.

Based on technology, the GPS segment is expected to grow at the highest CAGR during the forecast period. GPS is a satellite-based navigation system that offers navigation capability with accurate velocity information. Hence, various vendors of precision-guided munition focus on producing PGMs equipped with GPS technology.

The Asia Pacific precision guided munition market is projected to grow at the highest CAGR during the forecast period.

Asia Pacific is estimated to account for the largest share of the precision-guided munition market in 2019. The presence of major defense OEMs and increasing investments in research and development activities undertaken by the China and India armed forces are driving the growth of the market in this region. The procurement of next-generation laser-guided projectiles is also fueling the growth of precision guided munition market.

Major companies profiled in the report are Lockheed Martin Corporation (US), BAE Systems Plc. (UK), Raytheon (US), MBDA (France), Israel Aerospace Industries (Israel), Elbit Systems Ltd. (Israel), Saab AB (Sweden), General Dynamics Corporation (US), Northrop Grumman (US), Rheinmetall AG (Germany), and Leonardo SpA (Italy), among others.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in Precision Guided Munition Market
4.2 Attractive Growth Opportunities in Precision Guided Munition Market, By Type
4.3 Asia Pacific Precision Guided Munition Market, By Technology
4.4 Guided Rockets Market, By Type
4.5 Precision Guided Munition Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Precision Guided Munitions to Minimize Collateral Damage
5.2.1.2 Reduction in Logistics Burden
5.2.1.3 Growing Military Modernization Programs
5.2.2 Restraints
5.2.2.1 Regulations Related to Arms Transfer
5.2.2.2 High Manufacturing Cost
5.2.2.3 Procurement of Conventional Warfare Systems Instead of Advanced Precision Guided Munition in Many Countries
5.2.3 Opportunities
5.2.3.1 Miniaturization of Munitions
5.2.3.2 Access to Advanced Technologies Through MTCR Membership
5.2.3.3 Development of Hybrid Precision Guided Munitions
5.2.3.4 Increasing Export of Short-Range Missiles
5.2.4 Challenges
5.2.4.1 Issues Related to the Integration of Larger Precision Guided Munitions

6 Industry Trends
6.1 Introduction
6.2 Technological Trends
6.2.1 Anti-Satellite Missiles & Weapons
6.2.2 Smart E-Bombs & Hypersonic Munition
6.2.3 Advanced Tactical Data Links
6.2.4 Self-Guided Firearms
6.2.5 Next-Generation Target Locking Technology
6.2.6 Infrared Technology
6.2.7 Fiber-Optic Guidance Systems
6.2.8 Network-Enabled Weapons
6.2.9 Hybrid Guidance Systems
6.2.10 Semi-Active Laser (SAL) Guidance Systems
6.2.11 Automatic Target Recognition (ATR)
6.3 Innovations & Patent Registrations

7 Precision Guided Munition Market, By Speed
7.1 Introduction
7.2 Hypersonic
7.3 Non-Hypersonic

8 Precision Guided Munition Market, By Product
8.1 Introduction
8.2 Tactical Missiles
8.2.1 Militaries Worldwide Focuses to Procure High-Speed Missiles That Can Travel Long Ranges
8.2.2 Surface-to-Surface
8.2.3 Surface-to-Air
8.2.4 Air-to-Air
8.2.5 Air-to-Surface
8.2.6 Subsea-to-Surface
8.3 Guided Rockets
8.3.1 Rocket Manufactures are Focusing on the Development of Advanced Precision Weapons That are Compact, Lethal & Precise
8.3.2 Surface-To-Surface
8.3.3 Air-to-Surface
8.3.4 Surface-to-Air
8.4 Guided Ammunition
8.4.1 There is Increased Use of Guided Ammunition in Counter-Terrorism Operations
8.4.2 Guided Mortar
8.4.3 Guided Artillery Shells
8.4.4 Guided Bombs
8.4.5 Guided Bullets
8.5 Loitering Munition
8.5.1 Increasing Demand for Loitering Munition for Infantry Use

9 Precision Guided Munition Market, By Technology
9.1 Introduction
9.2 Infrared
9.2.1 IIR Homing
9.2.2 IR Homing
9.3 Semi-Active Lasers
9.4 Inertial Navigation System (INS)
9.5 Global Positioning System (GPS)
9.6 Radar Homing
9.6.1 Active Homing
9.6.2 Semi-Active Homing
9.7 Anti-Radiation
9.8 Others

10 Precision Guided Munition Market, By Type
10.1 Introduction
10.2 Autonomous
10.2.1 Continuous R&D Activities to Develop Advanced Munition Expected to Fuel the Market
10.3 Semi-Autonomous
10.3.1 Procurement of Indigenous Precision Guided Munition By Developing Countries Fuelling the Growth of This Market

11 Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 The US is One of the Lucrative Markets for Precision Guided Munition Worldwide
11.2.2 Canada
11.2.2.1 Ongoing Military Modernization Programs Fueling the Growth of the Precision Guided Munition Market in Canada
11.3 Europe
11.3.1 Russia
11.3.1.1 Increased Procurement of Precision Guided Munition Due to Cross-Border Conflicts is Driving the Growth of This Market
11.3.2 Germany
11.3.2.1 Significant Technological Advancement in the Guided Munition Would Drive the Precision Guided Munition Market
11.3.3 UK
11.3.3.1 Increasing Threats From International and Domestic Terrorism, Espionage and Other Hostile Foreign Activity, Drive the Market of Precision Guided Munition in the UK
11.3.4 France
11.3.4.1 Increased Military Spending is Estimated to Drive the Growth of the Market
11.3.5 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 China Development of Its Own Indigenous Advanced Precision Guided Munition to Drive the Market
11.4.2 India
11.4.2.1 Increasing Demand of Precision Guided Munition Due to Increased Military Spending
11.4.3 Australia
11.4.3.1 Major Contracts Being Signed With the Leading Companies for Precision Guided Munition Resulting in Growth of This Market
11.4.4 Japan
11.4.4.1 Growing Tensions With China and North Korea Resulting in Procurement of Precision Guided Munitions in the Country
11.4.5 South Korea
11.4.5.1 Increasing Missile Tests, as Well as Threats Posed By North Korea are Among the Primary Reasons for the Growth of the South Korean Defense Sector
11.4.6 Rest of Asia Pacific
11.5 Middle East
11.5.1 Saudi Arabia
11.5.1.1 The Military Intervention of Saudi Arabia in Yemen is One of the Major Factors for the Increase in Its Defense Expenditure
11.5.2 Israel
11.5.2.1 Presence of Major Defense Players in the Country has Resulted in the Growth of the Precision Guided Munition Market
11.5.3 Turkey
11.5.3.1 Increasing Number of Terror Attacks Have Resulted in the Procurement of Precision Guided Munition
11.5.4 Rest of Middle East
11.6 Rest of the World
11.6.1 Latin America
11.6.2 Africa

12 Competitive Landscape
12.1 Introduction
12.2 Rank Analysis, 2018
12.3 Competitive Leadership Mapping
12.3.1 Visionary Leaders
12.3.2 Innovators
12.3.3 Dynamic Differentiators
12.3.4 Emerging Companies
12.4 Competitive Scenario
12.4.1 New Product Launches
12.4.2 Contracts
12.4.3 Joint Ventures & Agreements

13 Company Profiles
13.1 BAE Systems
13.2 Lockheed Martin Corporation
13.3 Raytheon Company
13.4 MBDA
13.5 Northrop Grumman
13.6 Kongsberg Gruppen
13.7 Leonardo - Societ Per Azioni
13.8 Elbit Systems
13.9 Saab AB
13.10 The Boeing Company
13.11 KBP Instrument Design Bureau
13.12 Hanwha Group
13.13 Israel Aerospace Industries (IAI) Ltd.
13.14 China North Industries Corporation (Norinco)
13.15 Denel Dynamics
13.16 LIG Nex 1
13.17 Roketsan A.S.

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