Precision Guided Munition Industry worth $62.53 billion by 2031
The report "Precision Guided Munition Market by Product (Tactical Missiles, Interceptor Missiles, Torpedoes, Rockets, Loitering Munitions), System, Launch Platform, Speed (Subsonic, Supersonic, Hypersonic), Mode of Operation, Range, and Region - Global Forecast to 2031", The precision guided munition market is projected to grow from USD 37.24 billion in 2026 to USD 62.53 billion by 2031 at a CAGR of 10.9%. The market is growing as armed forces increase spending on weapons that can strike targets more accurately and from longer distances. Growth is also supported by military modernization, replacement of older stock, wider use of guided systems, and demand for better performance across land, air, and naval operations.
Further growth will be driven by the need to close gaps in long-range strike, air defense, and precision attack capability across land, air and naval forces. Demand for more guided ammunition, loitering munitions, improved propulsion, and guidance systems that can work in contested environments is increasing development activities worldwide.
Browse 363 market data Tables and 78 Figures spread through 375 Pages and in-depth TOC on "Precision Guided Munition Market by Product (Tactical Missiles, Interceptor Missiles, Torpedoes, Rockets, Loitering Munitions), System, Launch Platform, Speed (Subsonic, Supersonic, Hypersonic), Mode of Operation, Range, and Region - Global Forecast to 2031"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/precision-guided-munition-market-109859417.html
“By product, loitering munitions segment to lead market during forecast period”
Loitering munitions are expected to hold the largest market share because they combine target search, tracking, and strike functions in one weapon. They are used against mobile, time-sensitive, and fixed targets and can be deployed by land forces and other military units. Demand is also supported by lower unit costs than larger missiles, wider use in conflicts, and procurement of both expendable and recoverable systems.
“By system, guidance and navigation systems segment to hold largest market share during forecast period”
Guidance and navigation systems are expected to hold the largest market share because they are required across nearly every precision-guided munition category. Tactical missiles, guided rockets, guided ammunition, torpedoes, interceptors, and loitering munitions depend on systems such as INS, GPS, and terrain-based navigation to reach selected targets. Demand is also supported by upgrades for better accuracy and operation in GPS-degraded or contested environments worldwide.
“North America to account for largest market share during forecast period”
North America is projected to account for the largest market share due to significant expenditures in the United States on missiles, guided rockets, precision ammunition, interceptors, and related technologies. The region is home to major suppliers and is engaged in extensive replacement and modernization programs, along with maintaining large military inventories across land, air, and naval forces. Continuous investment in long-range strike capabilities, air defense systems, and guidance technologies further drives market demand across various programs.
RTX (US), Lockheed Martin Corporation (US), Northrop Grumman (US), General Dynamics Corporation (US), and Boeing (US) are the major players in the precision guided munition market. These companies have strong distribution networks across North America, Europe, Asia Pacific, the Middle East, and the Rest of the World.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.
Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.
The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter , LinkedIn and Facebook .
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Precision Guided Munition Market
- What will your New Revenue Sources be
- Who will be your Top Customer; what will make them switch
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
