Guided Munitions Industry Is Estimated To Witness A Cagr Of 5% By 2023

The Global Guided Munitions Industry is estimated to witness a CAGR of 5% from 2018 to 2023.
Industry Highlights:
Guided munitions, also known as smart weapons, smart munitions, or guided ammunition, can be aimed and directed at single or multiple targets. It relies on external guidance or its own guidance systems. It can be launched from aircraft, ships, submarines, and land vehicles. The increased focus on developing autonomous weapons and countering terror activities have led to the increasing demand for the development of guided munitions. The increased focus on procurement of smart weapons will enable manufacturers in offering new growth opportunities to the Industry players. However, there are some shortcomings such as extremely complicated guidance system and restricted range of maneuverability, which will restrain the growth of this Industry.
The Industry for guided munitions Industry is estimated to witness a CAGR of 5% during the forecast period.
On the basis of region, the global Industry is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. In North America, there are rising counter terrorist activities and various military equipment modernization programs. Europe is witnessing high demand for guided munitions. Increased procurement of smart weapons by the developed countries such as Germany, the U.K, and France has bolstered the demand for guided munitions in the European region. Furthermore, in 2018, the Lockheed Martin signed a contract with U.S. Navy for follow-on production of Enhanced Laser Guided Training Rounds to support the Paveway II Laser Guided Bomb (LGB) weapons training. Similarly, in 2014, Boeing signed a contract with the U.S. Air Force to work on manufacturing arming devices for Air-Launched Cruise Missile (ALCM), which is a long-range subsonic, self-guided missile, helping to ensure the readiness of the system.
Key Players
The key players in global guided munitions Industry are Lockheed Martin Corporation (U.S.), Raytheon Company (U.S.), Boeing (U.S.), BAE Systems Plc. (U.K), Israel Aerospace Industries (Israel), MBDA (France), Rafael Advanced Defense Systems Ltd (Israel), Kongsberg Group (Norway), Northrop Grumman Corporation (U.S.), L-3 Technologies Inc. (U.S.), and FN Herstal S.A (Belgium).
The scope of the Report
This study provides an overview of the Global Guided Munitions Industry, tracking three Industry segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights Industry size, volume, and share for North America, Europe, Asia Pacific (APAC), Middle East & Africa and South America. The report also provides a forecast, focusing on the Industry opportunities for the next five years for each region. The scope of the study segments the global guided munitions Industry by its product, technology, platform, and region.

By Product

• Missiles
• Rockets
• Projectiles
• Arms
• Loitering Weapons
• Others

By Technology

• Laser
• Infrared
• Radar
• GPS
• Others

By Platform

• Airborne
• Land-based
• Naval

By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
https://www.marketresearchfuture.com/reports/guided-munitions-market-6101