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Precision Guided Munition Market Share

Report ID: GMI4597
Published Date: Sep 2023
Report Format: PDF

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Precision Guided Munition Market Share

Major players operating in the precision guided munition market are

Aerojet Rocketdyne
Bharat Dynamics Limited
Elbit Systems Ltd.
General Dynamics Corporation
Hanwha Corporation
Israel Aerospace Industries
Kongsberg
L3Harris Technologies Inc.
Leonardo S.p.A.
Lockheed Martin Corporation
MBDA
Northrop Grumman Corporation
Raytheon Company
Rheinmetall AG
Saab AB
Thales Group
Boeing
BAE Systems
KBP Instrument Design Bureau
China North Industries Corporation (Norinco)
Denel Dynamics
LIG Nex 1
Roketsan A.S.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Global market size for precision guided munition crossed USD 33.2 billion in 2022 and will register over 6% CAGR from 2023-2032 due to the increasing defense spending by governments, driven by rising geopolitical tensions and the higher need to modernize military capabilities worldwide.

The inertial navigation system (INS) segment recorded over USD 10 billion in 2022 on account of advantages, such as high accuracy & reliability.

The semi-autonomous type segment held over 80% revenue share of the industry in 2022 owing to the ability to offer balance between human control and automation, enhancing precision while maintaining flexibility.

Aerojet Rocketdyne, Bharat Dynamics Limited, Elbit Systems Ltd., General Dynamics Corporation, Hanwha Corporation, Israel Aerospace Industries, Kongsberg, and L3Harris Technologies Inc. are some of the major precision guided munition companies worldwide.