Precision Guided Munition Market

Precision Guided Munition Market by Speed (Subsonic, Supersonic, and Hypersonic), Product, Technology, Mode of Operation (Semi-autonomous and Autonomous), Launch Platform (Land, Airborne and Naval) and Region (2021-2026)

Report Code: AS 7138 Nov, 2021, by marketsandmarkets.com

[270 Pages Report] The global precision guided munition market size is projected to grow from USD 32.8 billion in 2021 to USD 41.0 billion by 2026, at a CAGR of 4.5% from 2021 to 2026. The precision guided munitionmarket is expected to witness growth due toa consistent increase in defense budget across the globe and the need for advanced precision guided munitionto counter the modern combat around the country’s border. Furthermore, increasing number of conflicts and high defense spending are some of the major factors driving the market globally. Governments of various countries, such as the US, China, India, and Russia, are spending heavily on modernizing their military resources. Thus, a large number of weapon manufacturers are shifting their focus toward developing precision guided munitions. However, issues related to the integration of missiles pose a challenge for precision guided munition market growth.

Precision Guided Munition Market

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COVID-19 Impact on the Precision Guided MunitionMarket

The COVID-19 outbreak has led to multiple challenges for the defense industry. Though the industry was not severely affected but still has faced many economic problems post the COVID-19 outbreak. Since the beginning of the outbreak, the defense industry has been hit globally.

The drying up of private financing, reduction of defense expenditure in 2020 across the globe, and postponement of scheduled contracts have somewhat impacted the defense industry. Hence, the research and development related activities to precision guided munitions have been delayed, due to which the testing of some missile defense technology has been delayed. Moreover, with the slowdown of the supply chain of precision guided munitions due to COVID-19, many companies are expected to face slack in production. Thus, impacting the market growth.

Precision Guided Munition Market Dynamics

Drivers: Increasing need for defense programs to defend nations against various threats

The performance of US weapon systems is unmatched, ensuring that the US defense forces have a tactical combat advantage over any adversary in any weather condition. The Fiscal Year (FY) 2020 acquisition (Procurement and Research, Development, Test, and Evaluation (RDT&E)) funding requested by the US Department of Defense (DoD) totals USD 247.3 billion, which includes funding in the Base budget and the Overseas Contingency Operations (OCO) fund, totaling USD 143.1 billion for Procurement and USD 104.3 billion for RDT&E. The funding in the budget request represents a balanced portfolio approach to implement the military force objective established by the National Defense Strategy. Of the USD 247.3 billion in the request, USD 83.9 billion finances Major Defense Acquisition Programs (MDAPs), which are acquisition programs that exceed a cost threshold established by the Under Secretary of Defense for Acquisition and Sustainment.

According to the Missile Defense Agency, there has been an increase of over 1,200 additional ballistic missiles over the last 5 years. The total of ballistic missiles outside the US, the North Atlantic Treaty Organization, Russia, and China has risen to over 5,900. Hundreds of launchers and missiles are currently within the range of US deployed forces.

Hence, the increasing need for defense programs by nations to defend against various threats is driving the precision guided munition market.

Increasing demand for precision guided munitions to minimize collateral damage

Most countries follow the Law of Armed Conflicts (LOAC) and strive to minimize collateral damage, which includes unintended destruction of Civilian Items and Civilian Causalities (CIVCAS). Circular Error Probability (CEP) denotes the accuracy of weapons. Precision-guided munitions have lower CEP, which is crucial in minimizing collateral damage and civilian casualties. Causalities create serious implications in terms of public opinion and policies irrespective of the mission, whether it is a low-intensity conflict operation such as counter-insurgency and counterterrorism or a high-intensity conventional conflict. In today’s highly digitalized world, precision-guided munitions help make better decisions and reduce collateral damage, thus preventing aftermath casualties. Additionally, precision-guided munitions effectively neutralize threats as targets in battlefields are dispersed, mobile, and maneuverable.

The nature of warfare has evolved from conventional border-to-border warfare to more urban-centric warfare. Precision strikes have become essential, as they provide an indirect fire capability in complex terrains where the low-angle fire is essential to neutralize targets. The increasing use of satellite networks, navigation aids, and drones to destroy high-value and long-distance targets is one of the major factors fueling the demand for precision-guided munitions.

Restraints: Stringent regulations related to arms transfer

There are federal and legislative rules and regulations that the state-owned defense organizations must comply with, such as import-export control regimes, exchange controls, the Foreign Corrupt Practices Act, and the Export Administration Act. In many countries, manufacturers of munition are prohibited from exporting their products, thereby decreasing their chances of serving international customers. This hinders the manufacturers of munitions from accessing international markets.

The problem of transfer of technologies and weapons aggravated with terrorist organizations gaining access to various advanced weaponry, such as anti-tank guided weapons and advanced land mines. This has resulted in strict control over the transfer of technologies and weapons to other countries. This factor act as a restraint for the growth of the precision guided munition market.

Opportunities:Development of new-generation air and missile defense systems

The development of new-generation missiles with high-end technologies is a major threat to strategic locations and platforms such as military airbases and ships. Some of these new developments include nuclear-capable ballistic missiles and high-speed cruise missiles. Various countries are developing such advanced weapons capable of defeating high-end air defense systems such as the medium extended air defense system (MEADS), the Patriot Advanced Capability-3 (PAC-3), and the S-400. Countries such as India, China, and Russia have developed hypersonic missiles that are difficult to intercept for missile shields. India and Russia have jointly developed the BrahMos missile, which is difficult to intercept by older missile defense shields. These developments have led to the requirement for new-generation high-speed air defense electronic warfare systems. Governments worldwide are focusing on the development of stealth aircraft, but, at the same time, they are also investing heavily in advanced surveillance systems to counter stealth technology.

The continuous development of new generation precision guided air and missile defense systems is expected to fuel the demand for various technologies related to precision guided munition. Some of these technologies are GPS, INS, laser, radar, etc.

Challenges: Issues related to integration of larger precision guided munitions

The integration of smaller precision-guided munitions involves a simpler process as compared to the larger ones. For instance, the integration of a missile occurs at three levels; first on the missile itself; second with the platform from which it is being fired; and third with the existing command and control network. The integration of various electronic equipment, sensors, warheads, kill vehicles, propulsion systems, and other subsystems is very complex. The difficulty increases in the case of Multiple Independent Re-entry Vehicle (MIRV) ballistic missiles that have multiple warheads designated for multiple targets. Furthermore, if the missile is to be loaded with a nuclear warhead, the integration process is very complex and requires skilled engineers to perform the task.

Integrating a missile with a launching platform offers advantages, such as compatibility with a broader range of platform carriage, unrestricted carriage envelope, safe and accurate store separation, and enhanced survivability for the platform. Assessment is required to check for launch platform compatibility, constraints, firepower, survivability, missile carriage, and launch compatibility.

The integration of a missile with the command, control, battle management, and communications systems is also a complicated task. It requires integrating individual sensors and weapons into the overall system by conducting simulations and launch platform integration. These integration issues can act as a challenge for the growth of this market.

The GPS technology segmentis projected to grow at the highest CAGR rate for the precision guided munitionmarket during the forecast period.

Based on technology, the GPS segment of the precision guided munition market is projected to register the highest CAGR of 5.1% during the forecast period, reaching USD 3.8 billion by 2026 from an estimated USD 3.0 billion in 2021. GPS is a satellite-based navigation system that offers navigation capability with accurate velocity information. Hence, various vendors of precision guided munitions (PGMs) focus on producing PGMs equipped with GPS technology.

The tactical missile product segment is projected to register the highest CAGR of 4.9% during the forecast period

By product, the tactical missiles segment of the precision guided munition market is projected to grow from USD 13.6 billion in 2021 to USD 17.2 billion by 2026, at a CAGR of 4.9% from 2021 to 2026. Tactical missiles are used for a shorter range and can carry a variety of warheads that can be used for various purposes. They are very versatile and can be fired in various modes, angles, and platforms. These weapons are equipped with guidance technologies that enable them to hit targets with precision. The increasing number of missile modernization programs carried out across the globe is one of the factors fueling the growth of this segment.

The semi-autonomous segment is estimated to lead the precision guided munitionmarket during the forecast period.

By mode of operation, the semi-autonomous segment is estimated to lead the precision guided munition market during the forecast period. This segment is projected to grow from USD 25.4 billion in 2019 to USD 31.4 billion by 2026, at a CAGR of 4.3% from 2021 to 2026. Compared to the semi-autonomous segment, the autonomous segment is projected to register a higher CAGR of 5.3% during the forecast period. The autonomous segment’s growth can be attributed to the increasing adoption of loitering munitions by various military forces around the world.

The Asia Pacific market is projected to is projected to register the highest CAGR from 2021 to 2026

The precision guided munition market in Asia Pacific is projected to register the highest CAGR of 5.4% from 2021 to 2026. The growth of this regional market can be attributed to the increasing procurement of precision guided munitions by countries such as India, Australia, Japan, and China and the rising investments for the development of technologically advanced munitions in the region. Ongoing military modernization programs in the region also contribute to the growth of the Asia Pacific precision guided munition market.

Precision Guided Munition Market by Region

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Key Market Players

The Precision guided munitionmarket is dominated by a few globally establishedplayers such asNorthrop Grumman Corporation (US), Lockheed Martin (US), Boeing (US), Raytheon Technologies (US), and General Dynamics Corporation (US).

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Scope of the Report

Report Metric

Details

Market size available for years

2018–2026

Base year considered

2020

Forecast period

2021-2026

Forecast units

Value (USD Million)

Segments covered

By Technology, By Speed, By Mode of Operation, By Launch Platform, By Product and By Region

Geographies covered

North America, Europe, Asia Pacific, and Rest of the World

Companies covered

Northrop Grumman Corporation (US), Lockheed Martin (US), Boeing (US), Raytheon Technologies (US), and General Dynamics Corporation (US).

The study categorizes the precision guided munition  market based on technology, speed, product, mode of operation, launch platforms and region

Report Metric

Details

By Speed

Subsonic
Supersonic
Hypersonic

By Product

Tactical Missiles
Guided Rockets
Guided Ammunition
Torpedoes
Loitering Munitions

By Technology

Infrared
Laser
Inertial Navigation System (INS)
Global Positioning System (GPS)
Radar Homing
Anti-radiation

By Mode of Operation

Autonomous
Semi-autonomous

By Launch Platform

Land
Airborne
Naval

Recent Developments

  • In 2021, Boeing was awarded a contract by the US Department of Defense for JADM munition for the US Navy.
  • In 2020, The Air Force Life Cycle Management Center (AFLCMC) awarded a USD 239.1 million modification contract for 6 lots of StromBreaker to Raytheon Technologies’ RTX Missiles and Defense unit.
  • In 2019, BAE Systems was awarded a contract worth USD 2.68 billion by the US Navy for the indefinite delivery and quantity purchase of APKWS laser-guided bombs.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 36)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
                    FIGURE 1 PRECISION GUIDED MUNITION MARKET SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED FOR THE STUDY
    1.4 INCLUSIONS AND EXCLUSIONS
          TABLE 1 INCLUSIONS AND EXCLUSIONS IN PRECISION GUIDED MUNITION MARKET
    1.5 CURRENCY & PRICING
    1.6 LIMITATIONS
    1.7 MARKET STAKEHOLDERS
    1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 41)
    2.1 RESEARCH DATA
          FIGURE 2 REPORT PROCESS FLOW
          FIGURE 3 PRECISION GUIDED MUNITION MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key primary sources
                    2.1.2.2 Breakdown of primaries
                                FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
    2.2 FACTOR ANALYSIS
           2.2.1 INTRODUCTION
           2.2.2 DEMAND-SIDE INDICATORS
                    2.2.2.1 Increasing demand for precision guided munitions to minimize collateral damage
           2.2.3 SUPPLY-SIDE ANALYSIS
                    2.2.3.1 Rising adoption of AI in military operations
    2.3 MARKET SIZE ESTIMATION
           2.3.1 SEGMENTS AND SUBSEGMENTS
                    2.3.1.1 Key industry insights
    2.4 RESEARCH APPROACH & METHODOLOGY
           2.4.1 BOTTOM-UP APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
                    2.4.1.1 COVID-19 impact on market analysis
           2.4.2 TOP-DOWN APPROACH
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.5 DATA TRIANGULATION
          FIGURE 7 DATA TRIANGULATION: PRECISION GUIDED MUNITION MARKET
    2.6 MARKET SIZING & FORECASTING
    2.7 RESEARCH ASSUMPTIONS
    2.8 LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 52)
    FIGURE 8 BY PRODUCT, TACTICAL MISSILES SEGMENT ESTIMATED TO LEAD PRECISION GUIDED MUNITION MARKET FROM 2021 TO 2026
    FIGURE 9 BY TECHNOLOGY, GLOBAL POSITIONING SYSTEM SEGMENT PROJECTED TO REGISTER HIGHEST CAGR FROM 2021 TO 2026
    FIGURE 10 BY MODE OF OPERATION, SEMI-AUTONOMOUS SEGMENT ESTIMATED TO LEAD PRECISION GUIDED MUNITION MARKET FROM 2021 TO 2026
    FIGURE 11 ASIA PACIFIC PRECISION GUIDED MUNITION MARKET PROJECTED TO GROW AT HIGHEST CAGR FROM 2021 TO 2026

4 PREMIUM INSIGHTS (Page No. - 56)
    4.1 ATTRACTIVE MARKET OPPORTUNITIES IN PRECISION GUIDED MUNITION MARKET
          FIGURE 12 INCREASING DEFENSE EXPENDITURE GLOBALLY FOR DEVELOPING PRECISION GUIDED MUNITIONS EXPECTED TO DRIVE MARKET DURING FORECAST PERIOD
    4.2 PRECISION GUIDED MUNITION MARKET, BY SPEED
          FIGURE 13 SUPERSONIC SEGMENT ESTIMATED TO LEAD PRECISION GUIDED MUNITION MARKET DURING FORECAST PERIOD
    4.3 PRECISION GUIDED MUNITION MARKET, BY PRODUCT
          FIGURE 14 TACTICAL MISSILES SEGMENT PROJECTED TO LEAD PRECISION GUIDED MUNITION MARKET FROM 2021 TO 2026
    4.4 PRECISION GUIDED MUNITION MARKET, BY TECHNOLOGY
          FIGURE 15 GLOBAL POSITIONING SYSTEM (GPS) SEGMENT PROJECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
    4.5 PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION
          FIGURE 16 SEMI-AUTONOMOUS SEGMENT ESTIMATED TO LEAD PRECISION GUIDED MUNITION MARKET DURING FORECAST PERIOD
    4.6 PRECISION GUIDED MUNITION MARKET, BY COUNTRY
          FIGURE 17 PRECISION GUIDED MUNITION MARKET IN INDIA PROJECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 59)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
          FIGURE 18 PRECISION GUIDED MUNITION MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing need for defense programs to defend nations against various threats
                                TABLE 2 DEFENSE BUDGET OF US, INDIA, & CHINA, 2015–2020 (USD BILLION)
                    5.2.1.2 Increasing demand for precision guided munitions to minimize collateral damage
                                TABLE 3 US PRECISION GUIDED MUNITION PROCUREMENT, 2018-2021
                    5.2.1.3 Adoption of advanced precision guided munitions to reduce logistics burden
                    5.2.1.4 Upgrading C2 systems for precision guided missile defense systems
                    5.2.1.5 Increasing need for missile detection systems
           5.2.2 RESTRAINTS
                    5.2.2.1 Stringent regulations related to arms transfer
                    5.2.2.2 High manufacturing cost
                                TABLE 4 MANUFACTURING COST OF PRECISION GUIDED MUNITIONS DEVELOPED FOR US MILITARY
                    5.2.2.3 Procurement of conventional warfare systems instead of advanced precision guided munitions in many countries
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Miniaturization of munitions
                    5.2.3.2 Rising adoption of AI in military operations
                               5.2.3.2.1 AI in precision-guided missile defense testing & operations
                               5.2.3.2.2 Contemplating role of AI in precision guided missile defense
                    5.2.3.3 Development of new-generation air and missile defense systems
                    5.2.3.4 Development of hybrid precision guided munitions
           5.2.4 CHALLENGES
                    5.2.4.1 Issues related to integration of larger precision guided munitions
    5.3 COVID-19 IMPACT ON PRECISION GUIDED MUNITION MARKET
           5.3.1 COVID-19 IMPACT ON PRECISION GUIDED MUNITION MARKET
    5.4 RANGES AND SCENARIOS
          FIGURE 19 COVID-19 IMPACT ON PRECISION GUIDED MUNITION MARKET: 3 GLOBAL SCENARIOS
    5.5 VALUE CHAIN ANALYSIS OF PRECISION GUIDED MUNITION MARKET
          FIGURE 20 VALUE CHAIN ANALYSIS
    5.6 TRENDS/DISRUPTION IMPACTING CUSTOMER BUSINESS
           5.6.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PRECISION GUIDED MUNITION MANUFACTURERS
    5.7 PRECISION GUIDED MUNITION MARKET ECOSYSTEM
           5.7.1 PROMINENT COMPANIES
           5.7.2 PRIVATE AND SMALL ENTERPRISES
           5.7.3 ECOSYSTEM
                    FIGURE 21 MARKET ECOSYSTEM MAP: PRECISION GUIDED MUNITION MARKET
                    FIGURE 22 PRECISION GUIDED MUNITION MARKET: MARKET ECOSYSTEM
                    TABLE 5 PRECISION GUIDED MUNITION MARKET ECOSYSTEM
           5.7.4 DEMAND-SIDE IMPACTS
                    5.7.4.1 Key developments from January 2020 to August 2021
                                TABLE 6 KEY DEVELOPMENTS IN PRECISION GUIDED MUNITION MARKET, JANUARY 2020 TO AUGUST 2021
           5.7.5 SUPPLY-SIDE IMPACT
                    5.7.5.1 Key developments from January 2020 to August 2021
                                TABLE 7 KEY DEVELOPMENTS IN PRECISION GUIDED MUNITION MARKET, JANUARY 2020  TO AUGUST 2021
    5.8 PORTER’S FIVE FORCES ANALYSIS
          TABLE 8 PRECISION GUIDED MUNITION: PORTER’S FIVE FORCE ANALYSIS
          FIGURE 23 PRECISION GUIDED MUNITION MARKET: PORTER’S FIVE FORCE ANALYSIS
           5.8.1 THREAT OF NEW ENTRANTS
           5.8.2 THREAT OF SUBSTITUTES
           5.8.3 BARGAINING POWER OF SUPPLIERS
           5.8.4 BARGAINING POWER OF BUYERS
           5.8.5 DEGREE OF COMPETITION
    5.9 PRICING ANALYSIS
          TABLE 9 PRECISION GUIDED MUNITION PROCUREMENT COST, BY SERVICE, IN USD MILLION (FY2010–FY2015)
          TABLE 10 PRECISION GUIDED MUNITION PROCUREMENT COST, BY SERVICE, IN USD MILLION (FY2015–FY2020)
    5.10 VOLUME DATA ANALYSIS
           TABLE 11 PRECISION GUIDED MUNITION PROCUREMENT, BY SERVICE, IN VOLUME  (FY20102–FY2015)
           TABLE 12 PRECISION GUIDED MUNITION PROCUREMENT, BY SERVICE, IN VOLUME, BY SERVICE (FY2015–FY2020)
    5.11 REGULATORY LANDSCAPE
           5.11.1 NORTH AMERICA
           5.11.2 EUROPE

6 INDUSTRY TRENDS (Page No. - 82)
    6.1 INTRODUCTION
    6.2 TECHNOLOGY TRENDS
           6.2.1 NEXT GENERATION INTERCEPTOR (NGI) PROGRAM
           6.2.2 HYPERSONIC DEFENSE SYSTEMS
           6.2.3 DEVELOPMENT OF DEFENSE TECHNOLOGY
           6.2.4 ANTI-SATELLITE MISSILES & WEAPONS
           6.2.5 SMART E-BOMBS & HYPERSONIC MUNITION
           6.2.6 ADVANCED TACTICAL DATA LINKS
           6.2.7 SELF-GUIDED FIREARMS
           6.2.8 NEXT-GENERATION TARGET LOCKING TECHNOLOGY
           6.2.9 INFRARED TECHNOLOGY
           6.2.10 FIBER-OPTIC GUIDANCE SYSTEMS
           6.2.11 NETWORK-ENABLED WEAPONS
           6.2.12 HYBRID GUIDANCE SYSTEMS
           6.2.13 SEMI-ACTIVE LASER (SAL) GUIDANCE SYSTEMS
           6.2.14 AUTOMATIC TARGET RECOGNITION (ATR)
    6.3 TECHNOLOGY ANALYSIS
    6.4 USE CASE ANALYSIS
           6.4.1 USE CASE: LOITERING MUNITION
    6.5 IMPACT OF MEGATRENDS
           6.5.1 NEXT-GENERATION MISSILE SEEKERS
           6.5.2 ACTIVE PHASED ARRAY RADAR (APAR)
    6.6 INNOVATIONS AND PATENT REGISTRATIONS

7 PRECISION GUIDED MUNITION MARKET, BY SPEED (Page No. - 91)
    7.1 INTRODUCTION
          FIGURE 24 BY SPEED, HYPERSONIC SEGMENT PROJECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 13 PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
          TABLE 14 PRECISION GUIDED MUNITION MARKET, BY SPEED, 2021–2026 (USD MILLION)
    7.2 SUBSONIC
           7.2.1 SUBSONIC SPEED MUNITIONS PLAY HUGE ROLE IN MODERN WARFARE DUE TO THEIR ENHANCED STRATEGIC VALUES
    7.3 SUPERSONIC
           7.3.1 CRUCIAL BRIDGE: CAPABILITIES AND INTEGRATION BEYOND IMAGINATION TO BOOST DEMAND
    7.4 HYPERSONIC
           7.4.1 DELAY DETECTION IS BOON FOR DEFENSE AND BANE FOR ENEMIES
                    TABLE 15 HYPERSONIC MISSILES, BY COUNTRY

8 PRECISION GUIDED MUNITION MARKET, BY PRODUCT (Page No. - 95)
    8.1 INTRODUCTION
          FIGURE 25 BY PRODUCT, TACTICAL MISSILES SEGMENT PROJECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 16 PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
          TABLE 17 PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
    8.2 TACTICAL MISSILES
           8.2.1 MILITARIES WORLDWIDE FOCUS ON PROCURING HIGH-SPEED MISSILES THAT CAN TRAVEL LONG RANGES
                    8.2.1.1 Surface-to-surface
                    8.2.1.2 Surface-to-air
                    8.2.1.3 Air-to-air
                    8.2.1.4 Air-to-surface
                    8.2.1.5 Subsea-to-surface
    8.3 GUIDED ROCKETS
           8.3.1 ROCKET MANUFACTURERS FOCUS ON DEVELOPING ADVANCED PRECISION WEAPONS THAT ARE COMPACT, LETHAL, & PRECISE
                    8.3.1.1 Surface-to-surface
                    8.3.1.2 Air-to-surface
                    8.3.1.3 Surface-to-air
    8.4 GUIDED AMMUNITION
           8.4.1 THERE IS INCREASED USE OF GUIDED AMMUNITION IN COUNTER-TERRORISM OPERATIONS
                    8.4.1.1 Guided mortar
                    8.4.1.2 Guided artillery shells
                    8.4.1.3 Guided bombs
                    8.4.1.4 Guided bullets
    8.5 TORPEDOES
           8.5.1 DEVELOPMENT OF MODERN AND ADVANCED SUBMARINE TORPEDOES TO DRIVE MARKET
                    8.5.1.1 Surface-to-subsea
                    8.5.1.2 Air-to-subsea
                    8.5.1.3 Subsea-to-subsea
    8.6 LOITERING MUNITIONS
           8.6.1 OPERATIONAL CAPABILITIES AND LESS OPERATIONAL COST ARE MAIN MARKET DRIVERS

9 PRECISION GUIDED MUNITION MARKET, BY TECHNOLOGY (Page No. - 102)
    9.1 INTRODUCTION
          FIGURE 26 BY TECHNOLOGY, GPS SEGMENT PROJECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 18 PRECISION GUIDED MUNITION MARKET, BY TECHNOLOGY, 2017–2020 (USD MILLION)
          TABLE 19 PRECISION GUIDED MUNITION MARKET, BY TECHNOLOGY, 2021–2026 (USD MILLION)
    9.2 INFRARED
           9.2.1 ADVANCEMENTS IN NANOTECHNOLOGY AND ARRAY OF POTENTIALS ARE KEY ASPECTS FOR BOOM IN MARKET
           9.2.2 IIR HOMING
           9.2.3 IR HOMING
    9.3 LASER
           9.3.1 PRECISE WAY TO ENGAGE TARGETS ACROSS RANGES
           9.3.2 ACTIVE LASER
           9.3.3 SEMI-ACTIVE LASER
    9.4 INERTIAL NAVIGATION SYSTEM (INS)
           9.4.1 USE OF MULTIPLE INERTIAL SENSORS ALLOWS INTEGRATION IN ALL SHAPES AND SIZES
    9.5 GLOBAL POSITIONING SYSTEM (GPS)
           9.5.1 ABSOLUTE POSITION USING KNOWN CO-ORDINATE SYSTEM
    9.6 RADAR HOMING
           9.6.1 UNDETECTABLE WAY TO ASCERTAIN ENEMY POSITION
           9.6.2 ACTIVE HOMING
           9.6.3 SEMI-ACTIVE HOMING
           9.6.4 PASSIVE HOMING
    9.7 ANTI-RADIATION
           9.7.1 ANTI-RADIATION WORKS AGAINST RADARS, INCREASES CAPABILITIES OF ALLIES

10 PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION (Page No. - 108)
     10.1 INTRODUCTION
             FIGURE 27 BY MODE OF OPERATION, AUTONOMOUS SEGMENT PROJECTED TO REGISTER HIGHER CAGR THAN SEMI-AUTONOMOUS SEGMENT DURING FORECAST PERIOD
             TABLE 20 PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2017–2020 (USD MILLION)
             TABLE 21 PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2021–2026 (USD MILLION)
     10.2 AUTONOMOUS
             10.2.1 CONTINUOUS R&D ACTIVITIES TO DEVELOP ADVANCED AUTONOMOUS MUNITIONS EXPECTED TO FUEL MARKET
     10.3 SEMI-AUTONOMOUS
             10.3.1 PROCUREMENT OF INDIGENOUS PRECISION GUIDED MUNITIONS BY DEVELOPING COUNTRIES FUELING MARKET GROWTH

11 PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM (Page No. - 111)
     11.1 INTRODUCTION
             FIGURE 28 BY LAUNCH PLATFORM, LAND SEGMENT PROJECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
             TABLE 22 PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2017–2020 (USD MILLION)
             TABLE 23 PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2021–2026 (USD MILLION)
     11.2 LAND
             11.2.1 STRENGTHENING OF LAND-BASED FORCES DRIVES MARKET
     11.3 AIRBORNE
             11.3.1 ENHANCEMENT OF MILITARY MIGHT DRIVES MARKET
     11.4 NAVAL
             11.4.1 INCREASING MARITIME WARFARE TO BOOST DEMAND

12 REGIONAL ANALYSIS (Page No. - 114)
     12.1 INTRODUCTION
             FIGURE 29 GROWTH OF PRECISION GUIDED MUNITION MARKET IN REALISTIC, OPTIMISTIC, AND PESSIMISTIC SCENARIOS
             FIGURE 30 NORTH AMERICA ESTIMATED TO LEAD PRECISION GUIDED MUNITION MARKET FROM 2021 TO 2026
             TABLE 24 PRECISION GUIDED MUNITION MARKET, BY REGION, 2017–2020 (USD MILLION)
             TABLE 25 PRECISION GUIDED MUNITION MARKET, BY REGION, 2021–2026 (USD MILLION)
     12.2 NORTH AMERICA
             12.2.1 COVID-19 IMPACT ON NORTH AMERICA
             12.2.2 PESTLE ANALYSIS: NORTH AMERICA
                       FIGURE 31 SNAPSHOT: PRECISION GUIDED MUNITION MARKET IN NORTH AMERICA
                       TABLE 26 NORTH AMERICA: PRECISION GUIDED MUNITION MARKET, BY SPEED,  2017–2020 (USD MILLION)
                       TABLE 27 NORTH AMERICA: PRECISION GUIDED MUNITION MARKET, BY SPEED,  2021–2026 (USD MILLION)
                       TABLE 28 NORTH AMERICA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2017–2020 (USD MILLION)
                       TABLE 29 NORTH AMERICA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2021–2026 (USD MILLION)
                       TABLE 30 NORTH AMERICA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2017–2020 (USD MILLION)
                       TABLE 31 NORTH AMERICA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2021–2026 (USD MILLION)
                       TABLE 32 NORTH AMERICA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2017–2020 (USD MILLION)
                       TABLE 33 NORTH AMERICA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2021–2026 (USD MILLION)
                       TABLE 34 NORTH AMERICA: PRECISION GUIDED MUNITION MARKET, BY COUNTRY,  2017–2020 (USD MILLION)
                       TABLE 35 NORTH AMERICA: PRECISION GUIDED MUNITION MARKET, BY COUNTRY,  2021–2026 (USD MILLION)
             12.2.3 US
                       TABLE 36 US: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 37 US: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2021–2026 (USD MILLION)
                       TABLE 38 US: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 39 US: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 40 US: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 41 US: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 42 US: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2017–2020 (USD MILLION)
                       TABLE 43 US: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2021–2026 (USD MILLION)
             12.2.4 CANADA
                       TABLE 44 CANADA: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 45 CANADA: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2021–2026 (USD MILLION)
                       TABLE 46 CANADA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 47 CANADA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 48 CANADA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 49 CANADA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 50 CANADA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 51 CANADA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
     12.3 ASIA PACIFIC
             12.3.1 COVID-19 IMPACT ON ASIA PACIFIC
             12.3.2 PESTLE ANALYSIS: ASIA PACIFIC
                       FIGURE 32 SNAPSHOT: PRECISION GUIDED MUNITION MARKET IN ASIA PACIFIC
                       TABLE 52 ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 53 ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2021–2026 (USD MILLION)
                       TABLE 54 ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 55 ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 56 ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 57 ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 58 ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 59 ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
                       TABLE 60 ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 61 ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
             12.3.3 CHINA
                       TABLE 62 CHINA: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 63 CHINA: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 64 CHINA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 65 CHINA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 66 CHINA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 67 CHINA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 68 CHINA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 69 CHINA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
             12.3.4 INDIA
                       TABLE 70 INDIA: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 71 INDIA: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 72 INDIA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 73 INDIA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 74 INDIA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 75 INDIA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 76 INDIA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 77 INDIA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
             12.3.5 JAPAN
                       TABLE 78 JAPAN: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 79 JAPAN: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 80 JAPAN: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 81 JAPAN: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 82 JAPAN: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 83 JAPAN: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 84 JAPAN: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 85 JAPAN: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
             12.3.6 SOUTH KOREA
                       TABLE 86 SOUTH KOREA: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 87 SOUTH KOREA: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 88 SOUTH KOREA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2017–2020 (USD MILLION)
                       TABLE 89 SOUTH KOREA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2021–2026 (USD MILLION)
                       TABLE 90 SOUTH KOREA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 91 SOUTH KOREA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2021–2026 (USD MILLION)
                       TABLE 92 SOUTH KOREA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 93 SOUTH KOREA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
             12.3.7 AUSTRALIA
                       TABLE 94 AUSTRALIA: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 95 AUSTRALIA: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 96 AUSTRALIA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 97 AUSTRALIA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 98 AUSTRALIA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 99 AUSTRALIA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 100 AUSTRALIA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 101 AUSTRALIA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
             12.3.8 REST OF ASIA PACIFIC
                       TABLE 102 REST OF ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY SPEED,  2017–2020 (USD MILLION)
                       TABLE 103 REST OF ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, SPEED,  2021–2026 (USD MILLION)
                       TABLE 104 REST OF ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2017–2020 (USD MILLION)
                       TABLE 105 REST OF ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2021–2026 (USD MILLION)
                       TABLE 106 REST OF ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2017–2020 (USD MILLION)
                       TABLE 107 REST OF ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2021–2026 (USD MILLION)
                       TABLE 108 REST OF ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2017–2020 (USD MILLION)
                       TABLE 109 REST OF ASIA PACIFIC: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2021–2026 (USD MILLION)
     12.4 EUROPE
             12.4.1 COVID-19 IMPACT ON EUROPE
             12.4.2 PESTLE ANALYSIS: EUROPE
                       FIGURE 33 SNAPSHOT: PRECISION GUIDED MUNITION MARKET IN EUROPE
                       TABLE 110 EUROPE: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 111 EUROPE: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2021–2026 (USD MILLION)
                       TABLE 112 EUROPE: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 113 EUROPE: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 114 EUROPE: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 115 EUROPE: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 116 EUROPE: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 117 EUROPE: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
                       TABLE 118 EUROPE: PRECISION GUIDED MUNITION MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 119 EUROPE: PRECISION GUIDED MUNITION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
             12.4.3 UK
                       TABLE 120 UK: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 121 UK: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 122 UK: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 123 UK: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 124 UK: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 125 UK: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 126 UK: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2017–2020 (USD MILLION)
                       TABLE 127 UK: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2021–2026 (USD MILLION)
             12.4.4 FRANCE
                       TABLE 128 FRANCE: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 129 FRANCE: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 130 FRANCE: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 131 FRANCE: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 132 FRANCE: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 133 FRANCE: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 134 FRANCE: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 135 FRANCE: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2021–2026 (USD MILLION)
             12.4.5 GERMANY
                       TABLE 136 GERMANY: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 137 GERMANY: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 138 GERMANY: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 139 GERMANY: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 140 GERMANY: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 141 GERMANY: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 142 GERMANY: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 143 GERMANY: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
             12.4.6 ITALY
                       TABLE 144 ITALY: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 145 ITALY: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 146 ITALY: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 147 ITALY: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 148 ITALY: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 149 ITALY: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 150 ITALY: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 151 ITALY: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
             12.4.7 RUSSIA
                       TABLE 152 RUSSIA: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 153 RUSSIA: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 154 RUSSIA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 155 RUSSIA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 156 RUSSIA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2017–2020 (USD MILLION)
                       TABLE 157 RUSSIA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION,  2021–2026 (USD MILLION)
                       TABLE 158 RUSSIA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 159 RUSSIA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
             12.4.8 REST OF EUROPE
                       TABLE 160 REST OF EUROPE: PRECISION GUIDED MUNITION MARKET, BY SPEED,  2017–2020 (USD MILLION)
                       TABLE 161 REST OF EUROPE: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 162 REST OF EUROPE: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2017–2020 (USD MILLION)
                       TABLE 163 REST OF EUROPE: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2021–2026 (USD MILLION)
                       TABLE 164 REST OF EUROPE: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2017–2020 (USD MILLION)
                       TABLE 165 REST OF EUROPE: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2021–2026 (USD MILLION)
                       TABLE 166 REST OF EUROPE: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2017–2020 (USD MILLION)
                       TABLE 167 REST OF EUROPE: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2021–2026 (USD MILLION)
     12.5 REST OF THE WORLD
             12.5.1 COVID-19 IMPACT ON REST OF THE WORLD
             12.5.2 PESTLE ANALYSIS: REST OF THE WORLD
                       TABLE 168 REST OF THE WORLD: PRECISION GUIDED MUNITION MARKET, BY SPEED,  2017–2020 (USD MILLION)
                       TABLE 169 REST OF THE WORLD: PRECISION GUIDED MUNITION MARKET, BY SPEED,  2021–2026 (USD MILLION)
                       TABLE 170 REST OF THE WORLD: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2017–2020 (USD MILLION)
                       TABLE 171 REST OF THE WORLD: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2021–2026 (USD MILLION)
                       TABLE 172 REST OF THE WORLD: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2017–2020 (USD MILLION)
                       TABLE 173 REST OF THE WORLD: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2021–2026 (USD MILLION)
                       TABLE 174 REST OF THE WORLD: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2017–2020 (USD MILLION)
                       TABLE 175 REST OF THE WORLD: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2021–2026 (USD MILLION)
             12.5.3 LATIN AMERICA
                       TABLE 176 LATIN AMERICA: PRECISION GUIDED MUNITION MARKET, BY SPEED, 2017–2020 (USD MILLION)
                       TABLE 177 LATIN AMERICA: PRECISION GUIDED MUNITION MARKET, SPEED, 2021–2026 (USD MILLION)
                       TABLE 178 LATIN AMERICA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2017–2020 (USD MILLION)
                       TABLE 179 LATIN AMERICA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2021–2026 (USD MILLION)
                       TABLE 180 LATIN AMERICA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2017–2020 (USD MILLION)
                       TABLE 181 LATIN AMERICA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2021–2026 (USD MILLION)
                       TABLE 182 LATIN AMERICA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2017–2020 (USD MILLION)
                       TABLE 183 LATIN AMERICA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM,  2021–2026 (USD MILLION)
             12.5.4 MIDDLE EAST & AFRICA
                       TABLE 184 MIDDLE EAST & AFRICA: PRECISION GUIDED MUNITION MARKET, BY SPEED,  2017–2020 (USD MILLION)
                       TABLE 185 MIDDLE EAST & AFRICA: PRECISION GUIDED MUNITION MARKET, SPEED,  2021–2026 (USD MILLION)
                       TABLE 186 MIDDLE EAST & AFRICA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2017–2020 (USD MILLION)
                       TABLE 187 MIDDLE EAST & AFRICA: PRECISION GUIDED MUNITION MARKET, BY PRODUCT,  2021–2026 (USD MILLION)
                       TABLE 188 MIDDLE EAST & AFRICA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2017–2020 (USD MILLION)
                       TABLE 189 MIDDLE EAST & AFRICA: PRECISION GUIDED MUNITION MARKET, BY MODE OF OPERATION, 2021–2026 (USD MILLION)
                       TABLE 190 MIDDLE EAST & AFRICA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2017–2020 (USD MILLION)
                       TABLE 191 MIDDLE EAST & AFRICA: PRECISION GUIDED MUNITION MARKET, BY LAUNCH PLATFORM, 2021–2026 (USD MILLION)

13 COMPETITIVE LANDSCAPE (Page No. - 179)
     13.1 INTRODUCTION
     13.2 COMPETITIVE OVERVIEW
             TABLE 192 KEY DEVELOPMENTS BY LEADING PLAYERS IN PRECISION GUIDED MUNITION MARKET BETWEEN 2019 AND 2021
     13.3 MARKET RANKING ANALYSIS OF KEY PLAYERS, 2020
             13.3.1 RANKING ANALYSIS OF TOP 5 PLAYERS: PRECISION GUIDED MUNITION MARKET, 2020
     13.4 MARKET SHARE OF KEY PLAYERS, 2020
     13.5 REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS, 2020
     13.6 COMPANY PRODUCT FOOTPRINT ANALYSIS
             TABLE 193 COMPANY PRODUCT FOOTPRINT
             TABLE 194 COMPANY LAUNCH PLATFORM FOOTPRINT
             TABLE 195 COMPANY REGION FOOTPRINT
     13.7 COMPANY EVALUATION QUADRANT
             13.7.1 STAR
             13.7.2 EMERGING LEADER
             13.7.3 PERVASIVE
             13.7.4 PARTICIPANT
                       FIGURE 34 MARKET COMPETITIVE LEADERSHIP MAPPING, 2020
     13.8 START-UP/SME EVALUATION QUADRANT
             13.8.1 PROGRESSIVE COMPANIES
             13.8.2 RESPONSIVE COMPANIES
             13.8.3 STARTING BLOCKS
             13.8.4 DYNAMIC COMPANIES
                       FIGURE 35 PRECISION GUIDED MUNITION MARKET (START-UP) COMPETITIVE LEADERSHIP MAPPING, 2020
     13.9 COMPETITIVE SCENARIO
             13.9.1 MARKET EVALUATION FRAMEWORK
             13.9.2 NEW PRODUCT LAUNCHES AND DEVELOPMENTS
                       TABLE 196 NEW PRODUCT LAUNCHES AND DEVELOPMENTS, 2019–2021
             13.9.3 CONTRACTS
                       TABLE 197 CONTRACTS, 2019–2021
             13.9.4 ACQUISITIONS/PARTNERSHIPS/AGREEMENTS
                       TABLE 198 ACQUISITIONS/PARTNERSHIPS/AGREEMENTS, 2019-2021

14 COMPANY PROFILES (Page No. - 204)
(Business overview, Products offered, Recent Developments, MNM view)*
     14.1 NORTHROP GRUMMAN CORPORATION
             TABLE 199 NORTHROP GRUMMAN CORPORATION: BUSINESS OVERVIEW
             FIGURE 36 NORTHROP GRUMMAN CORPORATION: COMPANY SNAPSHOT
             TABLE 200 NORTHROP GRUMMAN CORPORATION: DEALS
     14.2 LOCKHEED MARTIN CORPORATION
             TABLE 201 LOCKHEED MARTIN CORPORATION: BUSINESS OVERVIEW
             FIGURE 37 LOCKHEED MARTIN CORPORATION: COMPANY SNAPSHOT
             TABLE 202 LOCKHEED MARTIN CORPORATION: PRODUCTS OFFERED 
             TABLE 203 LOCKHEED MARTIN CORPORATION: DEALS
     14.3 RAYTHEON TECHNOLOGIES CORPORATION
             TABLE 204 RAYTHEON TECHNOLOGIES CORPORATION: BUSINESS OVERVIEW
             FIGURE 38 RAYTHEON TECHNOLOGIES CORPORATION: COMPANY SNAPSHOT
             TABLE 205 RAYTHEON TECHNOLOGIES CORPORATION: PRODUCTS OFFERED
             TABLE 206 RAYTHEON TECHNOLOGIES CORPORATION: DEALS
     14.4 BOEING COMPANY
             TABLE 207 BOEING COMPANY: BUSINESS OVERVIEW
             FIGURE 39 BOEING COMPANY: COMPANY SNAPSHOT
             TABLE 208 BOEING COMPANY: PRODUCTS OFFERED 
             TABLE 209 BOEING COMPANY: DEALS
     14.5 GENERAL DYNAMICS CORPORATION
             TABLE 210 GENERAL DYNAMICS CORPORATION: BUSINESS OVERVIEW
             FIGURE 40 GENERAL DYNAMICS CORPORATION: COMPANY SNAPSHOT
             TABLE 211 GENERAL DYNAMICS CORPORATION: PRODUCTS OFFERED 
     14.6 BAE SYSTEMS
             TABLE 212 BAE SYSTEMS: BUSINESS OVERVIEW
             FIGURE 41 BAE SYSTEMS: COMPANY SNAPSHOT
             TABLE 213 BAE SYSTEMS: PRODUCTS OFFERED 
             TABLE 214 BAE SYSTEMS: DEALS
     14.7 ASELSAN A.S.
             TABLE 215 ASELSAN A.S.: BUSINESS OVERVIEW
             FIGURE 42 ASELSAN A.S.: COMPANY SNAPSHOT
             TABLE 216 ASELSAN A.S.: PRODUCTS OFFERED 
             TABLE 217 ASELSAN A.S.: DEALS
     14.8 MBDA
             TABLE 218 MBDA: BUSINESS OVERVIEW
             TABLE 219 MBDA: PRODUCTS OFFERED 
             TABLE 220 MBDA: DEALS
     14.9 ISRAEL AEROSPACE INDUSTRIES
             TABLE 221 ISRAEL AEROSPACE INDUSTRIES: BUSINESS OVERVIEW
             FIGURE 43 ISRAEL AEROSPACE INDUSTRIES: COMPANY SNAPSHOT
             TABLE 222 ISRAEL AEROSPACE INDUSTRIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 
     14.10 THALES
             TABLE 223 THALES: BUSINESS OVERVIEW
             FIGURE 44 THALES: COMPANY SNAPSHOT
             TABLE 224 THALES: DEALS
     14.11 RHEINMETALL
             TABLE 225 RHEINMETALL: BUSINESS OVERVIEW
             FIGURE 45 RHEINMETALL: COMPANY SNAPSHOT
             TABLE 226 RHEINMETALL: PRODUCTS OFFERED 
             TABLE 227 RHEINMETALL: DEALS
     14.12 LEONARDO S.P.A.
             TABLE 228 LEONARDO S.P.A.: BUSINESS OVERVIEW
             FIGURE 46 LEONARDO S.P.A.: COMPANY SNAPSHOT
             TABLE 229 LEONARDO S.P.A.: PRODUCTS OFFERED 
     14.13 KONGSBERG
             TABLE 230 KONGSBERG: BUSINESS OVERVIEW
             FIGURE 47 KONGSBERG: COMPANY SNAPSHOT
             TABLE 231 KONGSBERG: PRODUCTS OFFERED 
             TABLE 232 KONGSBERG: DEALS
     14.14 SAAB AB
             TABLE 233 SAAB AB: BUSINESS OVERVIEW
             FIGURE 48 SAAB AB: COMPANY SNAPSHOT
             TABLE 234 SAAB AB: PRODUCTS OFFERED 
     14.15 ELBIT SYSTEMS
             TABLE 235 ELBIT SYSTEMS: BUSINESS OVERVIEW
             FIGURE 49 ELBIT SYSTEMS: COMPANY SNAPSHOT
             TABLE 236 ELBIT SYSTEMS: PRODUCTS OFFERED 
             TABLE 237 ELBIT SYSTEMS: DEALS
     14.16 RAFAEL ADVANCED DEFENSE SYSTEMS LTD.
             TABLE 238 RAFAEL ADVANCED DEFENSE SYSTEMS LTD.: BUSINESS OVERVIEW
             TABLE 239 RAFAEL ADVANCED DEFENSE SYSTEMS LTD.: PRODUCTS OFFERED 
             TABLE 240 RAFAEL ADVANCED DEFENSE SYSTEMS LTD.: DEALS
     14.17 GENERAL ATOMICS
             TABLE 241 GENERAL ATOMICS: BUSINESS OVERVIEW
             TABLE 242 GENERAL ATOMICS: PRODUCTS OFFERED 
             TABLE 243 GENERAL ATOMICS: DEALS
     14.18 DYNETICS INC.
             TABLE 244 DYNETICS, INC.: BUSINESS OVERVIEW
             TABLE 245 DYNETICS, INC.: PRODUCTS OFFERED 
             TABLE 246 DYNETICS, INC.: DEALS
     14.19 DENEL DYNAMICS
             TABLE 247 DENEL DYNAMICS: BUSINESS OVERVIEW
             TABLE 248 DENEL DYNAMICS: PRODUCTS OFFERED 
     14.20 ROKETSAN
             TABLE 249 ROKETSAN: BUSINESS OVERVIEW
             TABLE 250 ROKETSAN: PRODUCTS OFFERED 
             TABLE 251 ROKETSAN: DEALS
     14.21 BHARAT DYNAMICS LIMITED
             TABLE 252 BHARAT DYNAMICS.: BUSINESS OVERVIEW
             FIGURE 50 BHARAT DYNAMICS LIMITED: COMPANY SNAPSHOT
             TABLE 253 BHARAT DYNAMICS LIMITED: PRODUCTS OFFERED 
             TABLE 254 BHARAT DYNAMICS LIMITED: DEALS
     14.22 KBP INSTRUMENTS DESIGN BUREAU
             TABLE 255 KBP INSTRUMENTS DESIGN BUREAU: BUSINESS OVERVIEW
             TABLE 256 KBP INSTRUMENTS DESIGN BUREAU: PRODUCTS OFFERED 
     14.23 TACTICAL MISSILES CORPORATION JSC
             TABLE 257 TACTICAL MISSILES CORPORATION: BUSINESS OVERVIEW
             TABLE 258 TACTICAL MISSILES CORPORATION: PRODUCTS OFFERED 
     14.24 LIG NEX1 CO., LTD.
             TABLE 259 LIG NEX1 CO., LTD.: BUSINESS OVERVIEW
             FIGURE 51 LIG NEX1 CO., LTD.: COMPANY SNAPSHOT
             TABLE 260 LIG NEX1 CO., LTD.: PRODUCTS OFFERED 

*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.

15 APPENDIX (Page No. - 264)
     15.1 DISCUSSION GUIDE
     15.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     15.3 AVAILABLE CUSTOMIZATION
     15.4 RELATED REPORTS
     15.5 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the precision guided munition market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various sources were referred to for identifying and collecting information for this study. The secondary sources included government sources, such as Worldbank defense expenditure database; department of defense websites, corporate filings such as annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; and articles from recognized authors, directories, and databases.

Primary Research

In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors, from business development, marketing, product development/innovation teams, and related key executives from precision guided munition integrators; component providers; distributors; and key opinion leaders.

Primary interviews were conducted to gather insights such as market statistics, data of revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, threat type, range, domain, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs, and installation teams of the customer/end users who are using precision guided munition were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of precision guided munition and future outlook of their business which will affect the overall market.

Precision Guided Munition Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the precision guided munition market. These methods were also used extensively to estimate the size of various segments and subsegments of the market. The research methodology used to estimate the market size included the following:

  • Key players in the industry and market were identified through extensive secondary research of their product matrix and geographical presence and developments undertaken by them.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Precision Guided Munition Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall size of the precision guided munition market using the market size estimation processes explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from demand as well as supply sides of the precision guided munition market.

Report Objectives

  • To define, describe, segment, and forecast the size of the precision guided munition  market based on technology, speed, product, mode of operation, launch platforms and region
  • To forecast the market size of segments with respect to various regions, including North America, Europe, Asia Pacific, and Rest of the World, along with major countries in each region
  • To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the precision guided munition  market
  • To analyze technological advancements and product launches in the market
  • To strategically analyze micromarkets1, with respect to their growth trends, prospects, and their contribution to the market
  • To identify financial positions, key products, and key developments of leading companies in the market
  • To provide a detailed competitive landscape of the market, along with market share analysis
  • To provide a comprehensive analysis of business and corporate strategies adopted by the key players in the market
  • To strategically profile key players in the market and comprehensively analyze their core competencies

Available Customizations

MarketsandMarkets offers the following customizations for this market report:

  • Additional country-level analysis of the Precision Guided Munition Market
  • Profiling of additional market players (up to 5)

Product Analysis

  • Product matrix, which provides a detailed comparison of the product portfolio of each company in the Precision guided munition  Market
Precision Guided Munition Market Size,  Share & Growth Report
Report Code
AS 7138
Published ON
Nov, 2021
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