Market Insights and Analysis: Precision Guided Munition Market Overview and Projections (2023-2028)
The Global Precision Guided Munition Market is projected to grow at a CAGR of around 9.56% during the forecast period 2023-28.
Top leading companies in the Precision Guided Munition Market includes:
BAE System, General Atomics, Elbit System, General Dynamics Mission Systems, Inc., Northrop Grumman, Lockheed Martin Corporation, Raytheon Technology Corporation, Israel Aerospace Industries, Thales, MBDA, Leonardo S.p.A, Denel Dynamics, Rafael Advanced Defense Systems Ltd., Saab AB, Roketsan, Bharat Dynamics Limited, Others
Global Precision Guided Munition Market Opportunity: Upsurge in the Militarization Across East Asia, Japan and South Korea
In East Asia, Japan and South Korea are rapidly modernizing their militaries in response to threats from China and North Korea is expected to increase the demand for precision guided munitions (PGMs) across the globe. The rising number of territorial disputes with China such as Japan has disputes over the Senkaku/Diaoyu Islands in the East China Sea, while South Korea has disputes with China over maritime boundaries in the Yellow Sea.
Hence, these disputes led to tensions and concerns about China’s assertiveness in the region. Additionally, both Japan and South Korea increase their efforts to modernize their militaries in response to regional threats is anticipated to elevate the market growth during 2023-2028, as Precision Guided munition is essential for enhancing their deterrence and defense strategies.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Speed
-Subsonic
-Supersonic
-Hypersonic
By Product Type
-Tactical Missiles
–Surface-to-surface
–Surface-to-air
–Air-to-air
–Air-to-surface
-Guided Rockets
–Surface-to-surface
–Surface-to-air
–Air-to-surface
-Guided Ammunition
–Motor
–Bomb
–Bullets
–Torpedoes
–Surface-to-subsea
–Subsea-to-subsea
–Air-to-subsea
-Loitering Munitions
- Tactical missiles are at the forefront of Precision Munition, offering unparalleled accuracy and target engagement capabilities.
By Technology
-Infrared
-Laser
-Inertial Navigation System (INS)
-Global Positioning System (GPS)
-Others (Radar Homing, Anti-Radiation, etc.)
By Mode of Operation
-Autonomous
-Semi-Autonomous
By Launch Platform
-Land
-Airborne
-Naval
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Precision Guided Munition Market Geographic Reach:
The Geographic Reach of the Precision Guided Munition Market evaluates the spread and significance of Precision Guided Munition Market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- North America: US, Canada, Mexico
- Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
- Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific
- South America: Brazil, Rest of South America
- Middle East & Africa: Saudi Arabia, Israel, Turkey, South Africa, Rest of the Middle East & Africa
Note: If you require specific information not covered in the current report, we can provide it through customized option
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