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Land-based Smart Weapons Market Size (2024 - 2029)

The land-based smart weapons market is projected to experience significant growth, driven by the increasing demand for precision in targeting and the rising geopolitical tensions globally. This expansion is supported by the growing military expenditure of major economies, which facilitates the procurement of advanced terrestrial combat systems. Additionally, government initiatives aimed at developing and manufacturing guided ammunition and missiles domestically are expected to reduce reliance on foreign technologies and further stimulate market growth. The integration of advanced technologies to enhance the accuracy and performance of missiles and ammunition is also anticipated to boost the market's expansion in the coming years.

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Market Size of Land-based Smart Weapons Industry

Land-based Smart Weapons Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 7.35 Billion
Market Size (2029) USD 10.55 Billion
CAGR (2024 - 2029) 7.48 %
Fastest Growing Market North America
Largest Market North America
Market Concentration Low

Major Players

Land-based Smart Weapons Market Major Players

*Disclaimer: Major Players sorted in no particular order

Land-based Smart Weapons Market Analysis

The Land-based Smart Weapons Market size is estimated at USD 7.35 billion in 2024, and is expected to reach USD 10.55 billion by 2029, growing at a CAGR of 7.48% during the forecast period (2024-2029).

Geopolitical tensions and global political instability drive the demand for precision in targeting enemy assets, including vehicles, buildings, and individuals, thereby fueling the growth of the land-based smart weapons market.

Major economies ramp up military expenditures, enabling armed forces to invest significantly in advanced terrestrial combat systems and man-portable weaponry. This trend will boost the land-based smart weapons market during the forecast period.

Government initiatives to develop and manufacture guided ammunition and missiles domestically, thereby reducing reliance on foreign technologies, are poised to propel the market's growth. Additionally, heightened investments in integrating advanced technologies to enhance the accuracy and performance of existing missiles and ammunition are anticipated to further boost sales of smart ammunition for land applications during the forecast period.

Land-based Smart Weapons Industry Segmentation

The land-based smart weapons (smart ammunition/smart munitions/precision-guided ammunition) market includes the study of guided weapons, missiles, and ammunition in development and production.

The land-based smart weapons market is segmented by product, technology, and geography. By product, it is divided into missiles, ammunition, and other products. By technology, it is divided into satellite guidance, radar guidance, infrared guidance, laser guidance, and other technologies. The report also covers the market sizes and forecasts for the land-based smart weapons market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).

Product
Missiles
Ammunitions and Other Products
Technology
Satellite Guidance
Radar Guidance
Infrared Guidance
Laser Guidance
Other Technologies
Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Rest of Middle East and Africa
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Land-based Smart Weapons Market Size Summary

The land-based smart weapons market is experiencing significant growth, driven by the increasing demand for precision and accuracy in military operations. This demand is largely fueled by rising geopolitical tensions and the need for advanced targeting capabilities to minimize civilian casualties. As major economies ramp up their military expenditures, there is a notable shift towards the procurement of advanced terrestrial combat systems and man-portable weapon systems. Government initiatives aimed at indigenously developing guided ammunition and missiles are further propelling market growth, as countries seek to reduce reliance on foreign technologies. The integration of advanced technologies to enhance the performance of existing munitions is also contributing to the market's expansion, with a focus on precision-guided munitions and programmable ammunition gaining traction.

North America currently dominates the land-based smart weapons market, primarily due to the substantial military expenditure of the United States. This investment supports the development and procurement of advanced weaponry to counter threats from nations like China and Russia. The region's growth is bolstered by ongoing contracts and developments in smart munitions, such as the US Army's initiatives to enhance its artillery and defense systems. The market is characterized by a fragmented landscape, with both local and international players, including major companies like RTX Corporation, Lockheed Martin, and BAE Systems, actively participating. These companies are not only catering to domestic needs but are also exploring export opportunities to capitalize on the growing demand for next-generation land-based smart weapons globally.

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Land-based Smart Weapons Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Buyers/Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product

      1. 2.1.1 Missiles

      2. 2.1.2 Ammunitions and Other Products

    2. 2.2 Technology

      1. 2.2.1 Satellite Guidance

      2. 2.2.2 Radar Guidance

      3. 2.2.3 Infrared Guidance

      4. 2.2.4 Laser Guidance

      5. 2.2.5 Other Technologies

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 France

        3. 2.3.2.3 Germany

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Rest of Latin America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 Israel

        4. 2.3.5.4 Rest of Middle East and Africa

Land-based Smart Weapons Market Size FAQs

The Land-based Smart Weapons Market size is expected to reach USD 7.35 billion in 2024 and grow at a CAGR of 7.48% to reach USD 10.55 billion by 2029.

In 2024, the Land-based Smart Weapons Market size is expected to reach USD 7.35 billion.

Land-based Smart Weapons Market Report Snapshots

Land-Based Smart Weapons Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)