Precision Guided Munition Market by Speed, Product, Technology, Type

List of Tables

The Precision Guided Munition Market was valued at USD 37.38 billion in 2023, expected to reach USD 40.96 billion in 2024, and is projected to grow at a CAGR of 9.67%, to USD 71.34 billion by 2030.

Precision Guided Munitions (PGMs) are advanced weaponry systems designed to strike targets with high precision, minimizing collateral damage and enhancing the efficiency of military operations. These smart weapons employ technologies such as GPS, laser guidance, and infrared targeting to accurately hit designated targets. The necessity for PGMs arises from modern warfare's demand for accuracy and reduced unintended casualties, particularly in asymmetric conflict scenarios. Their applications span across air, land, and sea military operations, with end-use concentrated within defense sectors of countries focusing on advanced military capabilities. The market for PGMs is experiencing a significant upsurge due to increased global tensions, defense budget allocations, and technological advancements. Key growth influencers include rapid advancements in sensor technologies, rising geopolitical conflicts, and aggressive military modernization programs. Opportunities in this market are emerging through the integration of artificial intelligence and machine learning to enhance targeting algorithms, which could offer improved targeting efficiency and adaptability in dynamic battlefields. However, the market faces limitations such as high production and development costs, regulatory scrutiny, and export restrictions imposed by international arms trade treaties. Additionally, the complexity of integrating various technological systems and ensuring interoperability with existing military platforms presents significant challenges. To capitalize on market potential, businesses should invest in research and development of cost-effective yet sophisticated targeting technologies, explore partnerships with defense agencies, and stay abreast of governmental regulatory changes. The best areas of innovation include further development of autonomous PGMs capable of decision-making without direct human intervention, and enhancing electronic warfare capabilities to counteract adversary attempts to disrupt PGMs' precision. The market is characterized by its rapid technological evolution, demand for innovation, and the strategic importance of PGMs in national security paradigms, underscoring a competitive landscape with significant opportunities for technological advancements and strategic growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 37.38 billion
Estimated Year [2024]	USD 40.96 billion
Forecast Year [2030]	USD 71.34 billion
CAGR (%)	9.67%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Precision Guided Munition Market

The Precision Guided Munition Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Development in military operations and adoption of advanced war techniques
- Growing need for security measures globally
- Investments from governments on the procurement of advanced war equipment
Market Restraints
- High cost of manufacturing and regulations pertinent to arms transfer
Market Opportunities
- Development of miniaturized munitions
- Growing export of short-range missiles
Market Challenges
- Concerns related to integration of larger precision guided munitions

Porter's Five Forces: A Strategic Tool for Navigating the Precision Guided Munition Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Precision Guided Munition Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Precision Guided Munition Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Precision Guided Munition Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Precision Guided Munition Market

A detailed market share analysis in the Precision Guided Munition Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Precision Guided Munition Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Precision Guided Munition Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Precision Guided Munition Market

A strategic analysis of the Precision Guided Munition Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Precision Guided Munition Market, highlighting leading vendors and their innovative profiles. These include BAE Systems PLC, China North Industries Corporation, Denel Dynamics, EDGE Group PJSC, Elbit Systems Ltd, EMCORE Corporation, Hanwha Group, KBP Instrument Design Bureau, Kongsberg Gruppen ASA, Leonardo SpA, LIG Nex1 Co Ltd, Lockheed Martin Corporation, Northrop Grumman Corporation, Saab AB, and Safran SA.

Market Segmentation & Coverage

This research report categorizes the Precision Guided Munition Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Speed, market is studied across Hypersonic and Non-Hypersonic.
Based on Product, market is studied across Guided Ammunition, Guided Rockets, Loitering Munition, and Tactical Missiles. The Guided Ammunition is further studied across Guided Artillery Shells, Guided Bombs, Guided Bullets, and Guided Mortar. The Guided Rockets is further studied across Air-to-Surface, Surface-to-Air, and Surface-To-Surface. The Tactical Missiles is further studied across Air-to-Air, Air-to-Surface, Subsea-to-Surface, Surface-to-Air, and Surface-to-Surface.
Based on Technology, market is studied across Anti-Radiation, Global Positioning System, Inertial Navigation System, Infrared, Radar Homing, and Semi-Active Lasers. The Infrared is further studied across IIR Homing and IR Homing. The Radar Homing is further studied across Active Homing and Semi-Active Homing.
Based on Type, market is studied across Autonomous and Semi-Autonomous.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-2D6E676CADF7

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Development in military operations and adoption of advanced war techniques
  - 5.1.1.2. Growing need for security measures globally
  - 5.1.1.3. Investments from governments on the procurement of advanced war equipment
- 5.1.2. Restraints
  - 5.1.2.1. High cost of manufacturing and regulations pertinent to arms transfer
- 5.1.3. Opportunities
  - 5.1.3.1. Development of miniaturized munitions
  - 5.1.3.2. Growing export of short-range missiles
- 5.1.4. Challenges
  - 5.1.4.1. Concerns related to integration of larger precision guided munitions
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Precision Guided Munition Market, by Speed

6.1. Introduction
6.2. Hypersonic
6.3. Non-Hypersonic

7. Precision Guided Munition Market, by Product

7.1. Introduction
7.2. Guided Ammunition
- 7.2.1. Guided Artillery Shells
- 7.2.2. Guided Bombs
- 7.2.3. Guided Bullets
- 7.2.4. Guided Mortar
7.3. Guided Rockets
- 7.3.1. Air-to-Surface
- 7.3.2. Surface-to-Air
- 7.3.3. Surface-To-Surface
7.4. Loitering Munition
7.5. Tactical Missiles
- 7.5.1. Air-to-Air
- 7.5.2. Air-to-Surface
- 7.5.3. Subsea-to-Surface
- 7.5.4. Surface-to-Air
- 7.5.5. Surface-to-Surface

8. Precision Guided Munition Market, by Technology

8.1. Introduction
8.2. Anti-Radiation
8.3. Global Positioning System
8.4. Inertial Navigation System
8.5. Infrared
- 8.5.1. IIR Homing
- 8.5.2. IR Homing
8.6. Radar Homing
- 8.6.1. Active Homing
- 8.6.2. Semi-Active Homing
8.7. Semi-Active Lasers

9. Precision Guided Munition Market, by Type

9.1. Introduction
9.2. Autonomous
9.3. Semi-Autonomous

10. Americas Precision Guided Munition Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Precision Guided Munition Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Precision Guided Munition Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. BAE Systems PLC
2. China North Industries Corporation
3. Denel Dynamics
4. EDGE Group PJSC
5. Elbit Systems Ltd
6. EMCORE Corporation
7. Hanwha Group
8. KBP Instrument Design Bureau
9. Kongsberg Gruppen ASA
10. Leonardo SpA
11. LIG Nex1 Co Ltd
12. Lockheed Martin Corporation
13. Northrop Grumman Corporation
14. Saab AB
15. Safran SA