This industry research report identifies General Dynamics, Lockheed Martin, MBDA, Orbital ATK, and Raytheon as the key vendors in the global smart weapons market. This industry research report also presents a competitive analysis of the market by platform (aerial, naval, and ground based) and by geography (the Americas, APAC, and EMEA).
Overview of the global smart weapons market
Market research analysts at Technavio predict that the global smart weapons market will grow steadily at a CAGR of more than 5% by 2021. This market research analysis identifies the modernization of global warfare as one of the primary growth factors for this market. The nature of warfare has changed significantly due to the changing economies. The current warfare scenario demands the need for providing adequate support and advanced weaponry to the combatants in addition to controlling collateral damage. The increase in anti-extremist missions across the globe and the requirement of adequate defense systems drive the need for smart weapons since these systems provide options for targeting, offer upgraded weapon sights, and improve the impact level of bombs and precision artillery munitions, increasing the lethality of the attack.
The market research report identifies the integration of smart weapons in bomber planes as one of the key trends behind the growth of the smart weapons market. A country with the ability to carry out a long-range strike operation gains military advantage over other countries. Bomber planes are used to drop heavy air-to-surface missiles or bombs on distant enemy targets. However, with the emerging tensions and the need to carry out long-range strike operations, the features of bomber planes requires a significant upgradation. The incorporation of advanced smart weapons will significantly improve the efficiency and combat abilities of bomber planes and also ensures the effectiveness of military operations. Technicians from Boeing and the US Air Force recently installed a prototype of new smart weapons bay launcher in a B-52 bomber plane. This new prototype enabled the bomber plane to internally carry satellite-guided joint direct attack munitions (JDAMs) and also allowed the plane to increase its carrying capacity and make space for eight additional cruise missiles.
Competitive landscape and key vendors
The market is highly-competitive and consists of few global and regional vendors competing to attain the maximum market share. The vendors compete based on factors such as cost, reliability, product quality, and aftermarket service and focus on providing cost-effective and high quality smart weapons to gain a competitive advantage. Vendors must innovate new technologies and launch new products to completely dominate the market and render their competitors products obsolete.
The leading vendors in the market are -
The other prominent vendors in the market are Boeing, L3 Technologies, Rheinmetall AG, Textron Systems, and Thales Group.
Segmentation by platform and analysis of the smart weapons market
During 2016, the naval segment accounted for the major shares of the smart weapons market. The rise in maritime conflicts has resulted in a significant need for smart munitions. The increased need for protection against terrorist attacks and illegal dealings through sea routes will be a major factor contributing to the growth of this market segment.
Geographical segmentation and analysis of the smart weapons market
This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the smart weapons market throughout the forecast period. Countries in this region possess increased combat capabilities and have become extremely-efficient due to high investments in the military sector. Increasing involvement of countries such as the US in anti-terrorist missions will result in the simultaneous development and procurement of advanced arms and weapons, which will augment the markets growth prospects in this region.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global smart weapons market?
What are the key market trends impacting the growth of the global smart weapons market?
What are the challenges to market growth?
Who are the key vendors in the global smart weapons market?
What are the market opportunities and threats faced by the vendors in the global smart weapons market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global smart weapons market?
Technavio also offers customization on reports based on specific client requirement.
This upcoming market research report on the global smart weapons market offers insights into the key trends and emerging drivers influencing the growth of the aerospace and defense industry. Our market research reports for the aerospace and defense industry also follow a scrupulous data collection methodology and offer an analysis of fast growing market segments like the defense sector.
By considering the market forecast and size, surging demand for smart weapons, the market research experts at Technavio offer a complete picture of the smart weapons market for the estimated period of 2017 to 2021. Furthermore, our research practices support clients devise effective growth strategies and assess the continually changing market landscape. This market study also offers an extensive analysis of various systems based on the interpretation of the information gathered from specific resources such as channel partners and market stakeholders. This upcoming market research report on the smart weapons market also covers vendors like Lockheed Martin, Raytheon, Orbital ATK, MBDA, General Dynamics, and Textron Systems.
This upcoming industry report on the smart weapons market also considers the growth of the related markets such as the soldier monitoring system market, which is expected to project a CAGR of close to 6% during the forecasted period. According to our research analysts, the exponentially rising popularity of laser weapons is expected to influence the global smart weapons market in the coming years. Moreover, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the smart weapons market also covers geographies like the Americas, Asia, and EMEA.
The upcoming industry research report for smart weapons market also categorizes the key drivers, major trends, as well as the restraints that the defense sector currently experiences. It also presents insights into the dynamically changing competitive scenario to give clients a complete view of the industry. Technavio also provides in-depth market assessments into the sectors such as homeland security.
Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
Key buying criteria
PART 05: Market landscape
Market size and forecast
Five forces analysis
PART 06: Market segmentation by platform
Market segmentation by platform
Global naval smart weapons market
Global land-based smart weapons market
Global aerial smart weapons market
PART 07: Geographical segmentation
Global smart weapons market segmentation by geography
Smart weapons market in the Americas
Smart weapons market in APAC
Smart weapons market in EMEA
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
Development of advanced weapon systems
Integration of smart weapons in bomber planes
Use of sensor-based guns
PART 11: Vendor landscape
Other prominent vendors
PART 12: Appendix
List of abbreviations
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