Smart Weapons Market: Outlook, Opportunity and Demand Analysis, Forecast 2021- 2026

Smart Weapons Market: Outlook, Opportunity and Demand Analysis, Forecast 2021- 2026

The smart weapons market analysis document represents a detailed collection of prioritized market definitions, industry scope and reach, and pivotal industry insights. Information about the many pitfalls of the market as well as the frequent challenges encountered by core industry players have been summarized in the report. That apart, the document also endorses details about the numerous driving parameters impacting the revenue landscape of this vertical.

Growing cross-border tension between nations and changing trade relations is expected to fuel the demand for smart weapons over the coming years. Rising trade disputes between countries like the U.S. and China has led to increasing global tensions. Instances such as this has forced countries to increase their investments in the defense sector as well as on developing advance weapon technologies. Robust advancements in the communication sector have supported the production of new navigation systems that enhance a weapon’s operational accuracy.

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Land-based smart weapons have managed to control a significant portion of market share over time, with the segment accounting for almost USD 1.5 billion in 2019. Governments across the globe have begun to allocate a sizable portion of their defense budget over developing and testing new land-based defense systems and smart weapons. In 2020, Russia showcased its Buk-M3 surface-to-air missile systems, demonstrating its capability by striking down test long-range spy drones.

Prominent players are mainly signing new acquisition, merger, technology procurement, or long-term collaboration deals to extend their global reach and presence. Citing an instance, in June 2019, Harris Corporation and L3 Technologies inked a merger deal to form L3Harris Technologies. The move would help the firms gain deep technological expertise in C4ISR weapons by developing exclusive products while creating a monopoly in the market.

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Asia Pacific is expected to record robust demand for smart weapons, accounting for nearly 20% of the global market share by 2026. Growing acquisition of advanced military vehicles and weapons that showcase the region’s overall military strength and dominance could drive the demand for smart weapons. Asian countries are actively taking part in numerous military acquisition and development activities. In 2020, India’s Defence Research and Development Organisation (DRDO) announced that they are closely working with 1,800 industries to produce modern weapons for the army.

While in 2019, the country strengthened its air defense arsenal by adding its first Rafael Jet, with plans to purchase more 36 jets worth USD 8.63 billion which are expected to become operational in 7 - 8 years following delivery. Initiatives such as the purchase of S-400 air defense systems from Russia, which is likely to be delivered by 2020, would further enhance the nation’s efforts to strengthen its aerial supremacy.

Major Key Points from Table of Content:

Chapter 5. Smart Weapons Market, By End-Use

5.1.    Key trends, by end-use

5.2.    Land

5.2.1. Smart weapons market estimates and forecast, 2015 - 2026

5.3.    Airborne

5.3.1. Smart weapons market estimates and forecast, 2015 – 2026

5.4.    Naval

5.4.1. Market estimates and forecast, 2015 – 2026

Chapter 6. Smart Weapons Market, By Weapons Type

6.1.    Key trends, by weapons type

6.2.    Missiles

6.2.1. Smart weapons market estimates and forecast, 2015 - 2026

6.3.    Munitions

6.3.1. Market estimates and forecast, 2015 - 2026

6.4.    Guided rockets

6.4.1. Market estimates and forecast, 2015 - 2026

6.5.    Guided projectiles

6.5.1. Market estimates and forecast, 2015 – 2026

6.6.    Guided firearms

6.6.1. Market estimates and forecast, 2015 - 2026

6.7.    Others

6.7.1. Market estimates and forecast, 2015 - 2026

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