Precision Guided Munition Market

Precision Guided Munition Market by Product (Tactical Missiles, Guided Rockets, Guided Ammunition, and Loitering Munition), Technology (Infrared, Semi-active Lasers, Radar Homing, GPS, INS, Anti-radiation), Type, Speed, Region - Global Forecast to 2025

Report Code: AS 7138 Jun, 2019, by marketsandmarkets.com

[188 Pages Report] The precision guided munition market is projected to grow from USD 30.0 billion in 2019 to USD 47.5 billion by 2025, at a CAGR of 8.0% from 2019 to 2025. The increasing need for highly precise strike munition, rising asymmetric warfare, geopolitical conflicts, and military modernization programs, among others, are some of the factors fueling the growth of precision guided munition market.

Precision Guided Munition Market

Based on product, the loitering munition segment of the precision guided munition market is projected to grow at the highest CAGR during the forecast period.

Based on product, the loitering munition segment is projected to grow at the highest CAGR from 2019 to 2025. The loitering munition can function autonomously searching and launching attacks without human intervention. This has drastically reduced the number of rounds required to defeat a particular target

The GPS segment of the precision guided munition market is projected to grow at the highest CAGR from 2019 to 2025.

Based on technology, the precision guided munition market has been segmented into infrared, semi-active lasers, radar homing, Global Positioning System (GPS), Inertial Navigation System (INS), anti-radiation, and others. The semi-active laser segment is estimated to account for the largest share of the precision guided munition market in 2019. The GPS segment is projected to grow at the highest CAGR during the forecast period. GPS is a satellite-based navigation system that offers navigation capability with accurate velocity information. Hence, various vendors focus on producing precision guided munition equipped with GPS technology.

Precision Guided Munition Market

“The Asia Pacific precision guided munition market is projected to grow at the highest CAGR during the forecast period.”

The Asia Pacific precision guided munition market is projected to grow at the highest CAGR from 2019 to 2025. Countries such as China, India, Australia, Japan, South Korea, and Rest of Asia Pacific are considered in this regional market analysis. In 2018, China and India were among the top five countries in the world in terms of defense expenditure. While China ranked second, India ranked fourth in defense expenditure, globally. The increased defense spending by emerging countries of Asia Pacific is one of the major factors expected to drive the growth of the precision guided munition market in this region.

Key Market Players

Major companies profiled in the report are Lockheed Martin Corporation (US), BAE Systems (UK), Raytheon (US), Northrop Grumman (US), Elbit Systems (Israel), Saab AB (Sweden), General Dynamics (US), Israel Aerospace Industries (Israel), Rheinmetall AG (Germany), LIG Nex1 (South Korea), NORINCO (China), and Bharat Dynamics (India), among others.

BAE Systems Plc. is a major player in the precision guided munition market. The company develops, delivers, and supports aerospace & defense systems. The company operates through 5 business segments, namely, electronic systems, cyber & intelligence, platforms & services (US), platforms & services (UK), and platforms & services (international). It is one of the largest manufacturers of precision guided munition across the globe. The company has a strong global distribution network. It has a broad product portfolio with varied applications. The company majorly focuses on delivering scalable, affordable systems that increase lethality and tactical proficiency in the battlespace.

Raytheon is another major player in the precision guided munition market. The company is majorly focused on research and development of new technologies. It is a key supplier to the US government and other Asian Pacific countries. In March 2019, the company received a contract worth USD 63.3 million from the Defense Advanced Research Projects Agency (DARPA) to develop the Tactical Boost Glide hypersonic weapons.

Recent Developments

  • In February 2019, BAE Systems received a contract worth USD 114.5 million from the US Navy to modernize the guided-missile destroyer, USS Bulkeley (DDG 84) in its Norfolk shipyard.
  • In February 2019, IAI launched Mini Harpy, a newly-developed loitering munition for the first time at Aero India Exhibition in Bangalore, India. The Mini Harpy is a tactical system designed for field or marine units. It can be launched from land, marine, and airborne platforms.
  • In January 2019, Javelin, a joint venture company, formed by Raytheon and Lockheed Martin, was awarded a production contract for 2,100 F-Model (FGM-148F) missiles, following a successful and rigorous system qualification test program that included 21 successful flight tests.
  • In November 2018, Lockheed Martin received a contract worth USD 25.5 million from the Missile Defense Agency for the development of its Low Power Laser Demonstrator (LPLD) missile interceptor concept.
  • In October 2018, Raytheon Company and Saab signed a contract with the US Army to demonstrate a laser-guided munition to be used with the Carl-Gustaf man-portable shoulder-fired launcher.

Key Questions

  • What are the drivers, restraints, challenges, and opportunities that affect the dynamics of the precision guided munition market, and what is the subsequent market analysis of the associated trends?
  • What are the key sustainability strategies adopted by leading players operating in the precision guided munition market?
  • What are the upcoming disrupters in this market that can be potential targets for partnerships/mergers?
  • Who are the top players operating in this market?
  • Which geographies can be the potential revenue-generating pockets for the precision guided munition market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 23)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Markets Covered
           1.3.1 Regional Scope
           1.3.2 Years Considered for the Study
    1.4 Currency & Pricing
    1.5 Limitations
    1.6 Market Stakeholders

2 Research Methodology (Page No. - 27)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Market Definition & Scope
           2.2.2 Exclusions
    2.3 Research Approach & Methodology
           2.3.1 Bottom-Up Approach
                    2.3.1.1 Evaluation of Precision Guided Munition Market
                    2.3.1.2 Precision Guided Munition Market, By Technology
                    2.3.1.3 Precision Guided Munition Market, By Type
           2.3.2 Top-Down Approach
    2.4 Data Triangulation
    2.5 Research Assumptions

3 Executive Summary (Page No. - 36)

4 Premium Insights (Page No. - 40)
    4.1 Attractive Growth Opportunities in Precision Guided Munition Market
    4.2 Attractive Growth Opportunities in Precision Guided Munition Market, By Type
    4.3 Asia Pacific Precision Guided Munition Market, By Technology
    4.4 Guided Rockets Market, By Type
    4.5 Precision Guided Munition Market, By Region

5 Market Overview (Page No. - 43)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Demand for Precision Guided Munitions to Minimize Collateral Damage
                    5.2.1.2 Reduction in Logistics Burden
                    5.2.1.3 Growing Military Modernization Programs
           5.2.2 Restraints
                    5.2.2.1 Regulations Related to Arms Transfer
                    5.2.2.2 High Manufacturing Cost
                    5.2.2.3 Procurement of Conventional Warfare Systems Instead of Advanced Precision Guided Munition in Many Countries
           5.2.3 Opportunities
                    5.2.3.1 Miniaturization of Munitions
                    5.2.3.2 Access to Advanced Technologies Through Mtcr Membership
                    5.2.3.3 Development of Hybrid Precision Guided Munitions
                    5.2.3.4 Increasing Export of Short-Range Missiles
           5.2.4 Challenges
                    5.2.4.1 Issues Related to the Integration of Larger Precision Guided Munitions

6 Industry Trends (Page No. - 51)
    6.1 Introduction
    6.2 Technological Trends
           6.2.1 Anti-Satellite Missiles & Weapons
           6.2.2 Smart E-Bombs & Hypersonic Munition
           6.2.3 Advanced Tactical Data Links
           6.2.4 Self-Guided Firearms
           6.2.5 Next-Generation Target Locking Technology
           6.2.6 Infrared Technology
           6.2.7 Fiber-Optic Guidance Systems
           6.2.8 Network-Enabled Weapons
           6.2.9 Hybrid Guidance Systems
           6.2.10 Semi-Active Laser (SAL) Guidance Systems
           6.2.11 Automatic Target Recognition (ATR)
    6.3 Innovations & Patent Registrations

7 Precision Guided Munition Market, By Speed (Page No. - 56)
    7.1 Introduction
    7.2 Hypersonic
    7.3 Non-Hypersonic

8 Precision Guided Munition Market, By Product (Page No. - 58)
    8.1 Introduction
    8.2 Tactical Missiles
           8.2.1 Militaries Worldwide Focuses to Procure High-Speed Missiles That Can Travel Long Ranges
           8.2.2 Surface-to-Surface
           8.2.3 Surface-to-Air
           8.2.4 Air-to-Air
           8.2.5 Air-to-Surface
           8.2.6 Subsea-to-Surface
    8.3 Guided Rockets
           8.3.1 Rocket Manufactures are Focusing on the Development of Advanced Precision Weapons That are Compact, Lethal & Precise
           8.3.2 Surface-To-Surface
           8.3.3 Air-to-Surface
           8.3.4 Surface-to-Air
    8.4 Guided Ammunition
           8.4.1 There is Increased Use of Guided Ammunition in Counter-Terrorism Operations
           8.4.2 Guided Mortar
           8.4.3 Guided Artillery Shells
           8.4.4 Guided Bombs
           8.4.5 Guided Bullets
    8.5 Loitering Munition
           8.5.1 Increasing Demand for Loitering Munition for Infantry Use

9 Precision Guided Munition Market, By Technology (Page No. - 66)
    9.1 Introduction
    9.2 Infrared
           9.2.1 IIR Homing
           9.2.2 IR Homing
    9.3 Semi-Active Lasers
    9.4 Inertial Navigation System (INS)
    9.5 Global Positioning System (GPS)
    9.6 Radar Homing
           9.6.1 Active Homing
           9.6.2 Semi-Active Homing
    9.7 Anti-Radiation
    9.8 Others

10 Precision Guided Munition Market, By Type (Page No. - 72)
     10.1 Introduction
     10.2 Autonomous
             10.2.1 Continuous R&D Activities to Develop Advanced Munition Expected to Fuel the Market
     10.3 Semi-Autonomous
             10.3.1 Procurement of Indigenous Precision Guided Munition By Developing Countries Fuelling the Growth of This Market

11 Regional Analysis (Page No. - 75)
     11.1 Introduction
     11.2 North America
             11.2.1 US
                       11.2.1.1 The US is One of the Lucrative Markets for Precision Guided Munition Worldwide
             11.2.2 Canada
                       11.2.2.1 Ongoing Military Modernization Programs Fueling the Growth of the Precision Guided Munition Market in Canada
     11.3 Europe
             11.3.1 Russia
                       11.3.1.1 Increased Procurement of Precision Guided Munition Due to Cross-Border Conflicts is Driving the Growth of This Market
             11.3.2 Germany
                       11.3.2.1 Significant Technological Advancement in the Guided Munition Would Drive the Precision Guided Munition Market
             11.3.3 UK
                       11.3.3.1 Increasing Threats From International and Domestic Terrorism, Espionage and Other Hostile Foreign Activity, Drive the Market of Precision Guided Munition in the UK
             11.3.4 France
                       11.3.4.1 Increased Military Spending is Estimated to Drive the Growth of the Market
             11.3.5 Rest of Europe
     11.4 Asia Pacific
             11.4.1 China
                       11.4.1.1 China Development of Its Own Indigenous Advanced Precision Guided Munition to Drive the Market
             11.4.2 India
                       11.4.2.1 Increasing Demand of Precision Guided Munition Due to Increased Military Spending
             11.4.3 Australia
                       11.4.3.1 Major Contracts Being Signed With the Leading Companies for Precision Guided Munition Resulting in Growth of This Market
             11.4.4 Japan
                       11.4.4.1 Growing Tensions With China and North Korea Resulting in Procurement of Precision Guided Munitions in the Country
             11.4.5 South Korea
                       11.4.5.1 Increasing Missile Tests, as Well as Threats Posed By North Korea are Among the Primary Reasons for the Growth of the South Korean Defense Sector
             11.4.6 Rest of Asia Pacific
     11.5 Middle East
             11.5.1 Saudi Arabia
                       11.5.1.1 The Military Intervention of Saudi Arabia in Yemen is One of the Major Factors for the Increase in Its Defense Expenditure
             11.5.2 Israel
                       11.5.2.1 Presence of Major Defense Players in the Country has Resulted in the Growth of the Precision Guided Munition Market
             11.5.3 Turkey
                       11.5.3.1 Increasing Number of Terror Attacks Have Resulted in the Procurement of Precision Guided Munition
             11.5.4 Rest of Middle East
     11.6 Rest of the World
             11.6.1 Latin America
             11.6.2 Africa

12 Competitive Landscape (Page No. - 135)
     12.1 Introduction
     12.2 Rank Analysis, 2018
     12.3 Competitive Leadership Mapping
             12.3.1 Visionary Leaders
             12.3.2 Innovators
             12.3.3 Dynamic Differentiators
             12.3.4 Emerging Companies
     12.4 Competitive Scenario
             12.4.1 New Product Launches
             12.4.2 Contracts
             12.4.3 Joint Ventures & Agreements

13 Company Profiles (Page No. - 141)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     13.1 BAE Systems
     13.2 Lockheed Martin Corporation
     13.3 Raytheon Company
     13.4 MBDA
     13.5 Northrop Grumman
     13.6 Kongsberg Gruppen
     13.7 Leonardo – Societΰ Per Azioni
     13.8 Elbit Systems
     13.9 Saab AB
     13.10 The Boeing Company
     13.11 KBP Instrument Design Bureau
     13.12 Hanwha Group
     13.13 Israel Aerospace Industries (IAI) Ltd
     13.14 China North Industries Corporation (Norinco)
     13.15 Denel Dynamics
     13.16 LIG Nex 1
     13.17 Roketsan A.S.

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 182)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Available Customization
             14.3.1 Country-Level Analysis
             14.3.2 Additional Company Profiles (Upto 5)
     14.4 Related Reports
     14.5 Author Details


List of Tables (152 Tables)

Table 1 USD Exchange Rates
Table 2 US Precision Guided Munition Procurement, 2018
Table 3 Member Countries of Missile Technology Control Regime (Mtcr)
Table 4 Innovations & Patent Registrations, 2012–2018
Table 5 Hypersonic Missiles, By Country
Table 6 Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 7 Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 8 Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 9 Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 10 Precision Guided Munition Market Size, By Technology, 2017–2025 (USD Million)
Table 11 Infrared Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 12 Radar Homing Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 13 Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 14 Precision Guided Munition Market Size, By Region, 2017–2025 (USD Million)
Table 15 North America Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 16 North America Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 17 North America Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 18 North America Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 19 North America Precision Guided Munition Market Size, By Technology, 2017–2025 (USD Million)
Table 20 North America Infrared Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 21 North America Radar Homing Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 22 North America Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 23 North America Precision Guided Munition Market Size, By Country, 2017–2025 (USD Million)
Table 24 US: Contracts Signed for Precision Guided Munition, 2014-2019
Table 25 US Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 26 US Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 27 US Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 28 US Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 29 Canada: Contracts Signed for Rockets and Missiles, 2015-2019
Table 30 Canada Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 31 Canada Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 32 Canada Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 33 Canada Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 34 Europe Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 35 Europe Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 36 Europe Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 37 Europe Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 38 Europe Precision Guided Munition Market Size, By Technology, 2017–2025 (USD Million)
Table 39 Europe Infrared Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 40 Europe Radar Homing Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 41 Europe Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 42 Europe Precision Guided Munition Market Size, By Country, 2017–2025 (USD Million)
Table 43 Russia: Contracts Signed for Precision Guided Munition, 2015–2018
Table 44 Russia Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 45 Russia Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 46 Russia Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 47 Russia Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 48 Germany: Contracts Signed for Rockets and Missiles, 2013-2017
Table 49 Germany Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 50 Germany Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 51 Germany Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 52 Germany Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 53 UK: Contracts Signed for Rockets and Missiles, 2014–2016
Table 54 UK Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 55 UK Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 56 UK Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 57 UK Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 58 France: Contracts and Agreements Signed for Rockets and Missiles, 2016-2017
Table 59 France Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 60 France Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 61 France Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 62 France Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 63 Rest of Europe Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 64 Rest of Europe Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 65 Rest of Europe Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 66 Rest of Europe Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 67 Asia Pacific Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 68 Asia Pacific Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 69 Asia Pacific Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 70 Asia Pacific Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 71 Asia Pacific Precision Guided Munition Market Size, By Technology, 2017–2025 (USD Million)
Table 72 Asia Pacific Infrared Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 73 Asia Pacific Radar Homing Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 74 Asia Pacific Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 75 China: Contracts Signed for Precision Guided Munition, 2013-2017
Table 76 China Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 77 China Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 78 China Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 79 China Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 80 India: Partnerships, Mou & Contracts Signed for Precision Guided Munition, 2015-2019
Table 81 India Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 82 India Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 83 India Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 84 India Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 85 Australia: Contracts Signed for Rockets and Missiles, 2017
Table 86 Australia Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 87 Australia Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 88 Australia Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 89 Australia Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 90 Japan: Contracts Signed for Precision Guided Munition, 2016-2018
Table 91 Japan Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 92 Japan Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 93 Japan Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 94 Japan Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 95 South Korea: Contracts Signed for Precision Guided Munition, 2015–2018
Table 96 South Korea Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 97 South Korea Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 98 South Korea Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 99 South Korea Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 100 Rest of Asia Pacific Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 101 Rest of Asia Pacific Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 102 Rest of Asia Pacific Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 103 Rest of Asia Pacific Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 104 Middle East Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 105 Middle East Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 106 Middle East Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 107 Middle East Guided Ammunition Market, By Type, 2017–2025 (USD Million)
Table 108 Middle East Precision Guided Munition Market Size, By Technology, 2017–2025 (USD Million)
Table 109 Middle East Infrared Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 110 Middle East Radar Homing Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 111 Middle East Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 112 Saudi Arabia: Contracts Signed for Precision Guided Munition, 2013-2018
Table 113 Saudi Arabia Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 114 Saudi Arabia Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 115 Saudi Arabia Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 116 Saudi Arabia Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 117 Israel: Contracts Signed for Precision Guided Munition, 2014-2017
Table 118 Israel Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 119 Israel Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 120 Israel Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 121 Israel Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 122 Turkey: Contracts Signed for Precision Guided Munition, 2017
Table 123 Turkey Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 124 Turkey Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 125 Turkey Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 126 Turkey Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 127 Rest of Middle East Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 128 Rest of Middle East Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 129 Rest of Middle East Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 130 Rest of Middle East Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 131 Rest of the World Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 132 Rest of the World Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 133 Rest of the World Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 134 Rest of the World Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 135 Rest of the World Precision Guided Munition Market Size, By Technology, 2017–2025 (USD Million)
Table 136 Rest of the World Infrared Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 137 Rest of the World Radar Homing Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 138 Rest of the World Precision Guided Munition Market Size, By Type, 2017–2025 (USD Million)
Table 139 Rest of the World Precision Guided Munition Market Size, By Region, 2017–2025 (USD Million)
Table 140 Brazil: Contracts Signed for Rockets and Missiles, 2014–2016
Table 141 Latin America Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 142 Latin America Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 143 Latin America Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 144 Latin America Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 145 South Africa: Contracts Signed for Precision Guided Munition, 2015–2016
Table 146 Africa Precision Guided Munition Market Size, By Product, 2017–2025 (USD Million)
Table 147 Africa Tactical Missiles Market Size, By Type, 2017–2025 (USD Million)
Table 148 Africa Precision Guided Rockets Market Size, By Type, 2017–2025 (USD Million)
Table 149 Africa Guided Ammunition Market Size, By Type, 2017–2025 (USD Million)
Table 150 New Product Launches, April 2014–April 2019
Table 151 Contracts, April 2014–April 2019
Table 152 Joint Ventures & Agreements, April 2014–April 2019
 
 
List of Figures (54 Figures)
 
Figure 1 Research Flow
Figure 2 Precision Guided Munition Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions for the Research Study
Figure 8 Tactical Missiles Segment Projected to Lead Precision Guided Munition Market From 2019 to 2025
Figure 9 Global Positioning System Segment of Precision Guided Munition Market Projected to Grow at Highest CAGR From 2019 to 2025
Figure 10 Semi-Autonomous Segment Projected to Lead Precision Guided Munition Market From 2019 to 2025
Figure 11 Asia Pacific Precision Guided Munition Market Projected to Grow at Highest CAGR From 2019 to 2025
Figure 12 Geopolitical Conflicts Between Nations is One of the Factors Driving the Growth of Precision Guided Munition Market
Figure 13 Surface-To-Surface Segment Projected to Lead Tactical Missiles Market From 2019 to 2025
Figure 14 Air-To-Surface Segment Projected to Grow at Highest CAGR From 2019 to 2025
Figure 15 Semi-Active Lasers Segment Estimated to Account for Largest Share of Asia Pacific Precision Guided Munition Market in 2019
Figure 16 Surface-To-Surface Segment Projected to Lead Guided Rockets Market From 2019 to 2025
Figure 17 Asia Pacific Precision Guided Munition Market Projected to Grow at Highest CAGR From 2019 to 2025
Figure 18 Precision Guided Munition Market: Drivers, Restraints, Opportunities & Challenges
Figure 19 Advantages of Miniaturization
Figure 20 Advantages of Hybrid Propulsion Missiles
Figure 21 Loitering Munition Segment Projected to Grow at Highest CAGR During Forecast Period
Figure 22 Air-To-Air Segment Projected to Grow at Highest CAGR During Forecast Period
Figure 23 Air-To-Surface Segment Projected to Grow at Highest CAGR During Forecast Period
Figure 24 Guided Artillery Shells Segment Projected to Grow at Highest CAGR During Forecast Period
Figure 25 GPS Segment Estimated to Grow at Highest CAGR During Forecast Period
Figure 26 IIR Homing Segment Estimated to Lead Infrared Precision Guided Munition Market in 2019
Figure 27 Active Homing Segment in Radar Precision Guided Munition Market Estimated to Grow at Higher CAGR During Forecast Period A Compared to Semi-Active Homing Segment
Figure 28 Autonomous Segment Projected to Grow at Higher CAGR During Forecast Period as Compared to Semi-Autonomous Segment
Figure 29 Regional Snapshot
Figure 30 North America Precision Guided Munition Market Snapshot
Figure 31 Europe Precision Guided Munition Market Snapshot
Figure 32 Asia Pacific Precision Guided Munition Market Snapshot
Figure 33 Middle East Precision Guided Munition Market Snapshot
Figure 34 Companies Adopted Contracts as the Key Growth Strategy From April 2014 to April 2019
Figure 35 Major Players in Precision Guided Munition Market, 2018
Figure 36 Precision Guided Munition Market Competitive Leadership Mapping, 2018
Figure 37 BAE Systems: Company Snapshot
Figure 38 BAE Systems: SWOT Analysis
Figure 39 Lockheed Martin Corporation: Company Snapshot
Figure 40 Lockheed Martin Corporation: SWOT Analysis
Figure 41 Raytheon Company: Company Snapshot
Figure 42 Raytheon Company: SWOT Analysis
Figure 43 MBDA: SWOT Analysis
Figure 44 Northrop Grumman: Company Snapshot
Figure 45 Northrop Grumman: SWOT Analysis
Figure 46 Kongsberg Gruppen: Company Snapshot
Figure 47 Leonardo: Company Snapshot
Figure 48 Elbit Systems: Company Snapshot
Figure 49 Saab AB: Company Snapshot
Figure 50 The Boeing Company: Company Snapshot
Figure 51 Hanwha Group: Company Snapshot
Figure 52 Israel Aerospace Industries (IAI) Ltd.: Company Snapshot
Figure 53 LIG Nex1: Company Snapshot
Figure 54 Precision Guided Munition Segmentation

This research study involved the extensive use of secondary sources, directories, and databases such as D&B Hoovers, the Stockholm International Peace Research Institute (SIPRI), Bloomberg Businessweek, the US Department of Defense (DOD), and Factiva to identify and collect information relevant to the precision guided munition market. Primary sources included industry experts from the core and related industries as well as preferred suppliers, manufacturers, solution providers, technology developers, alliances, and organizations related to all segments of the value chain of this industry. All primary sources were interviewed to obtain and verify critical qualitative and quantitative information as well as to assess the growth prospects of the market during the forecast period from 2019 to 2025.

Secondary Research:

The share of companies in the precision guided munition market was determined using secondary data made available through paid and unpaid sources and by analyzing the product portfolios of major companies operating in the market. These companies were rated based on the performance and quality of their products. Primary sources further validated these data points.

Secondary sources that were referred to for this research study on the precision guided munition market included financial statements of companies offering precision guided munition and information from various trade, business, and professional associations, among others. Secondary data was collected and analyzed to arrive at the overall size of the precision guided munition market that was further validated by primary respondents.

Precision Guided Munition Market

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 size of the precision guided munition market.

The research methodology that was used to estimate the size of the precision guided munition market included the following details:

  • Key players in the precision guided munition market were identified through secondary research, and their market shares were determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and were verified through primary sources.
  • All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data on the precision guided munition market.

Data Triangulation

After arriving at the overall size of the precision guided munition market through the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were implemented, wherever applicable to complete the overall market engineering process and to arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from both, demand and supply sides. Along with this, the market size was validated using both, top-down and bottom-up approaches.

Objectives of the Report

  • To define, describe, and forecast the size of the precision guided munition market based on product, technology, type, and region
  • To forecast the size of the market and its segments with respect to 5 major regions, namely, North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW), along with their respective key countries
  • To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To identify industry trends, market trends, and technology trends currently prevailing in the precision guided munition market
  • To strategically analyze micromarkets with respect to individual technological trends and their contribution to the total precision guided munition market
  • To strategically profile key market players and comprehensively analyze their market share and core competencies
  • To track and analyze competitive developments such as contracts and new product launches in the precision guided munition market
  • To analyze the degree of competition in the market by mapping the contracts received and products and services offered by key market players
  • To identify detailed financial positions, key products, and unique selling points of leading companies in the market

Scope of the Report

Report Metric

Details

Market size available for years

2017–2025

Base year considered

2018

Forecast period

2019–2025

Forecast units

Value (USD Million)

Segments covered

Product, Technology, Type, Speed, and Region

Geographies covered

North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW)

Companies covered

Lockheed Martin Corporation (US), BAE Systems Plc. (UK), Raytheon (US), MBDA (France), Israel Aerospace Industries (Israel), Elbit Systems Ltd. (Israel), Saab AB (Sweden), General Dynamics Corporation (US), Northrop Grumman (US), Rheinmetall AG (Germany), and Leonardo SpA (Italy), among others

This research report categorizes the precision guided munition market into the following segments and subsegments:

By Product

  • Tactical Missiles
    • Surface-to-Surface
    • Air-to-Air
    • Air-to-Surface
    • Surface-to-Air
    • Subsea-to-Surface
  • Guided Rockets
    • Surface-to-Surface
    • Air-to-Surface
    • Surface-to-Air
  • Guided Ammunition
    • Guided Mortar
    • Guided Artillery Shells
    • Guided Bombs
    • Guided Bullets
  • Loitering Munition

By Technology

  • Infrared
    • IIR Homing
    • IR Homing
  • Semi-active laser
  • Inertial Navigation System (INS)
  • Global Positioning System (GPS)
  • Radar Homing
    • Active Homing
    • Semi-active Homing
  • Anti-radiation
  • Others

By Type

  • Autonomous
  • Semi-autonomous

By Speed

  • Hypersonic
  • Non-hypersonic

Available Customizations:

Along with the market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Country-level analysis
  • Market sizing and forecast for additional countries
  • Additional company profiles (up to 5)
Report Code
AS 7138
Published ON
Jun, 2019
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