Smart Weapons Market Size By End-Use (Land, Airborne, Naval), By Weapon Type (Missiles, Munitions, Guided Rockets, Guided Projectiles, Guided Firearms), By Component (Infrared, Laser, Global Positioning Systems (GPS), Radar) Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026

Published Date: May 2020  |  Report ID: GMI3048  |  Authors: Ankita Bhutani, Preeti Wadhwani

Report Format: PDF   |   Pages: 300   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Smart Weapons Market size exceeded USD 13 billion in 2019 and is poised to grow at a CAGR of over 6% between 2020 and 2026. The market growth is driven by rapid integration of various navigation & communication technologies in weapon systems.
 

Various countries have taken different approaches for the development and integration of smart weapons in their armed forces. North America and Europe are more focused on modernizing ammunition, whereas Asia Pacific is taking efforts to improve the capabilities of interceptor missiles, providing a holistic market growth.
 

Smart Weapons Market

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Technological integration of multiple components supporting the navigation & communication abilities of weapon systems will support the smart weapons market demand. This will improve accuracy and significantly improve chances of hitting the target.
 

The sudden outbreak of COVID-19 pandemic will moderately slowdown market growth due to limited research, development, and manufacturing resources. The virus was initially recognized in December 2019 and has impacted more than 140 countries across the globe causing lockdowns and trade restrictions. It has severely impacted the global economy, slashing growth opportunities.
 

Formulation of various government treaties for the design, development, testing, manufacturing, acquisitions, and operations of weapon systems will regulate the market dynamics. Various treaties supporting collaborative testing of weapons are expected to provide a positive market impact. For instance, in September 2019, the defense authorities of France, Cyprus, and Belgium signed an agreement to initiate trials of common anti-tank missiles. The trials are expected to begin by 2020 or 2021, with fund allocation of USD 14 billion by the European Union.
 

Smart Weapons Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 13 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 6% 2026 Value Projection: 19 Billion (USD)
Pages: 300 Tables, Charts & Figures: 257
Geographies covered (19): U.S., Canada, France, UK, Russia, Germany, Turkey, Italy, China, India, Japan, South Korea, Australia, Brazil, Mexico, Israel, Saudi Arabia, UAE, South Africa
Segments covered: By Component, By Weapons Type, By End use and Region
Companies covered (17): BAE Systems PLC, Diehl Defence, , General Dynamics, Hanwha Corporation, JSC Concern Vko "Almaz-Antey", Kongsberg Gruppen, , L3Harris Technologies, Leonardo S.P.A., Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Rafael Advanced Defense Systems, Raytheon Company, Rheinmetall AG, Saab AB, Thales Group, The Boeing Company
Growth Drivers:
  • Integration of various connected technologies in smart weapons
  • Use of multiple communication and navigation components
  • Rise in defense budget allocation towards acquisition of latest munitions
  • Increasing indigenous development and manufacturing capabilities in APAC
Pitfalls & Challenges:
  • High interference of government regulatory bodies limiting market opportunities
  • Lack of mature technology

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Acquisition of land-based defense systems to fuel the market growth of Asia Pacific

The Asia Pacific smart weapons industry will capture a share of more than 20% by 2026. High market penetration of the APAC can be analyzed by increasing cross-border conflicts and terrorist activities in the region. These factors have allowed various countries to increase their efforts toward the acquisition of advanced weapon systems.
 

Increasing R&D efforts in components to boost the European market demand

Europe Smart Weapons Market

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The Europe smart weapons market generated a revenue of over USD 3 billion in 2019. Market acquisition can be witnessed by the formulation of various tech start-ups to enable the integration of smart weapon technologies. For instance, in November 2019, a tech start-up of India established an R&D facility in Lithuania to develop a technology, which can be integrated on a weapon, enabling it to scan detect and locate enemies. Such technologies embrace Artificial Intelligence (AI) and the Internet of Things (IoT) to improve operations.
 

Increasing efforts of North America to develop smart ammunition

North America Smart Weapons Market

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In North America, the munitions segment will cross a valuation of USD 2 billion by 2026. The growth can be credited to increasing efforts taken by the U.S. government to develop smart ammunition. Increasing importance to minimize casualties due to friendly firing is a major factor supporting R&D activities in the U.S. For instance, in January 2020, the U.S. Army initiated the testing of smart scope developed by Smart Shooter Ltd. The scope does not allow operators to fire a bullet unless and until the shot is generated.
 

Presence of major industry players to support market penetration in Europe

Smart Weapons Market

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The Europe smart weapons market held a revenue share of approx. 25% in 2019 and is predicted to witness a growth rate of over 6% during the forecast timeframe. This growth is attributed to presence of major defense manufacturers such as Almaz-Antery, MBDA, and BAE Systems. These companies are actively investing in the research & development of smart weapons and future combat systems.
 

The timely publishing of various concepts and development of systems encompassing smart weapon to gain superiority during warfare will support the market competitiveness. For instance, in June 2019, MBDA demonstrated a range of air-launched weapon concepts, enabling it to perform electronic attacks. The company also published concepts for short-range hard-kill weapons that are capable of intercepting incoming missiles. These publications showcase efforts taken by company to increase their market penetration in smart weapons
 

MoU and agreements for data sharing to increase market transparency

Major players in the market are Airbus Defence & Space, Aselsan A.S., BAE Systems PLC, Diehl Defence, General Dynamics, Hanwha Corporation, L3Harris, Israel Aerospace Industries Ltd., JSC Concern Vko "Almaz-Antey", Kongsberg Gruppen, Leonardo S.P.A., Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Rafael Advanced Defense Systems, Raytheon Company, Rheinmetall AG, Saab AB, Thales Group, and The Boeing Company. Companies operating in the market are highly dependent on government bodies to expand their market share. Extensive involvement of government bodies in weapon trades will regularize the market.
 

The market research report on smart weapon includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026 for the following segments:

Market by End-Use, 2015 - 2026 (USD Million)

  • Land
  • Airborne
  • Naval

Market by Weapon Type, 2015-2026 (USD Million)

  • Missiles
  • Munitions
  • Guided Rockets
  • Guided Projectiles
  • Guided Firearms
  • Others

Market by Component, 2015-2026 (USD Million)

  • Infrared
  • Laser
  • Global Positioning System (GPS)
  • Radar
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada 
  • Europe
    • Russia
    • UK
    • Germany
    • Turkey
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Israel
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA

 

Frequently Asked Questions (FAQ) :

The Europe market held a revenue share of approx. 25% in 2019 and is predicted to witness a growth rate of over 6% through 2026.
The Asia Pacific industry will capture a share of more than 20% by 2026. High market penetration of the APAC can be analyzed by increasing cross-border conflicts and terrorist activities in the region.
Major players in the market are Airbus Defence & Space, Aselsan A.S., BAE Systems PLC, Diehl Defence, General Dynamics, Hanwha Corporation, L3Harris, Israel Aerospace Industries Ltd., JSC Concern Vko 'Almaz-Antey', Kongsberg Gruppen, Leonardo S.P.A., Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Rafael Advanced Defense Systems, Raytheon Company, Rheinmetall AG, Saab AB, Thales Group, and The Boeing Company.

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Premium Report Details

  • Published Date: May 2020
  • Pages: 300
  • Tables: 232
  • Charts / Figures: 25
  • Companies covered: 17
  • Countries covered: 19

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