Guided Ammunition Market Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2024
Guided ammunition also called as precision-guided munition is a directed ammunition designed to precisely hit a definite target. The guided ammunition minimizes collateral damage while increasing lethality against intended targets. It relies on its own guidance or external guidance system. Launched from aircraft, submarines, ships, land vehicles, or even by individual soldiers on ground, it demonstrates the principle of the low-cost risk that forces a high-cost and complicated defence. They are also known as smart weapon, and smart munition. Recognizing the difficulty to hit the targets that are moving, the era of this technology has arrived using radio control, wire guidance, and others.
The guided ammunition market is primarily driven by factors such as increasing regional conflicts across the globe, and rising terrorist activities coupled with tactical innovations. However, extremely complicated guidance system, and restricted range of maneuverability are some of the aspects that may decline the market growth. Moreover, advancement in technology with ongoing R&D, and growing demand for precision guided ammunition worldwide is expected to generate numerous growth opportunities for the market in the forecast period.
The global guided ammunition market is majorly classified on the basis of product, platform, technology, and geography. By product the market comprises munitions (guided bombs, and target pods), missiles (anti-tank & standoff missiles, anti-ship & anti-submarine missiles, and air-to-air & air-to-surface missiles), precision guided firearms (smart guns, small smart weapons, and shoulder fired weapons), guided rockets (anti-tank & tactical rockets, anti-submarine, and air-to-air & air-to-surface), and guided projectiles (artillery shells, mortar rounds). The classification by platform consists air, naval, and land. On the basis of technology, the guided ammunition market is further categorized into laser, radar, infrared, GPS, and other technologies (Include satellite, optical, wire-guided, and micro computing).
Based on geography, guided ammunition market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in the market are General Dynamics Corporation, BAE Systems, Orbital ATK, Lockheed Martin, The Boeing Co., Raytheon Company, Textron, Inc., L-3 Communications Ltd., Israel Aerospace Industries, and Northrop Grumman Corporation, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Guided Ammunition Market with respect to major segments such as product type, platform, technology, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Guided Ammunition Market has been included in the report
- Profile of the key players in the Global Guided Ammunition Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Global Guided Ammunition Market
Product Type Segments
- Guided Bombs
- Target Pods
- Anti-Tank & Standoff Missiles
- Anti-Ship & Anti-Submarine Missiles
- Air-to-Air & Air-to-Surface Missiles
Precision Guided Arms
- Smart Guns
- Small Smart Weapons
- Shoulder Fired Weapons
- Anti-Tank & Tactical Rockets
- Air-To-Air & Air-to-Surface
- Artillery Shells
- Motor Rounds
Platform Type Segments
- Other Technologies
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East