In-Depth Precision Guided Munition Market Analysis: Growth Trends, Size, and Demand from 2023 to 2028

MarkNtel Advisors analyses the growth rate of the Precision Guided Munition market in the forecast period from 2023 to 2028. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the Precision Guided Munition market, helping them make informed decisions.

Market Outlook – 2023-2028:

The Global Precision Guided Munition Market is projected to grow at a CAGR of around 9.56% during the forecast period 2023-28. The market growth imputes rising military modernization, increasing threats, and counter-terrorism operations across the globe. The growing surgical strikes against terrorist hideouts and strongholds drove the demand for Precision Guided Munition.These weapons have been proven to be critical in minimizing the risk to friendly forces while maximizing the impact on enemy targets. Along with this, the armed forces of countries such as the US, China, Russia, India, France, etc., have become reliant on Precision Guided munition (PGMs) to execute military operations, being used in ground, air, and naval operations.

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Key Company Profiles

This report explores recent significant developments in the Precision Guided Munition Market, focusing on the leading companies and their innovative profiles. The major players in the Precision Guided Munition Market, featured in this report, include:

BAE System
General Atomics
Elbit System
General Dynamics Mission Systems, Inc.
Northrop Grumman
Lockheed Martin Corporation
Raytheon Technology Corporation
Israel Aerospace Industries
Thales
MBDA
Leonardo S.p.A
Denel Dynamics
Rafael Advanced Defense Systems Ltd.
Saab AB
Roketsan
Bharat Dynamics Limited
Others

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Market Segmentation Coverage

This research report by MarkNtel Advisors categorizes the Precision Guided Munition Market to forecast revenues and analyse trends across each of the following sub-markets:

By Speed
- Subsonic- Market Size Forecast 2018-2028, (USD Million)
- Supersonic- Market Size Forecast 2018-2028, (USD Million)
- Hypersonic- Market Size Forecast 2018-2028, (USD Million)
By Product Type
- Tactical Missiles- Market Size Forecast 2018-2028, (USD Million)
  - Surface-to-surface
  - Surface-to-air
  - Air-to-air
  - Air-to-surface
- Guided Rockets- Market Size Forecast 2018-2028, (USD Million)
  - Surface-to-surface
  - Surface-to-air
  - Air-to-surface
- Guided Ammunition- Market Size Forecast 2018-2028, (USD Million)
  - Motor
  - Bomb
  - Bullets
- Torpedoes- Market Size Forecast 2018-2028, (USD Million)
  - Surface-to-subsea
  - Subsea-to-subsea
  - Air-to-subsea
- Loitering Munitions- Market Size Forecast 2018-2028, (USD Million)

Tactical missiles are at the forefront of Precision Munition, offering unparalleled accuracy and target engagement capabilities.

By Technology
- Infrared- Market Size Forecast 2018-2028, (USD Million)
- Laser- Market Size Forecast 2018-2028, (USD Million)
- Inertial Navigation System (INS)- Market Size Forecast 2018-2028, (USD Million)
- Global Positioning System (GPS)- Market Size Forecast 2018-2028, (USD Million)
- Others (Radar Homing, Anti-Radiation, etc.)- Market Size Forecast 2018-2028, (USD Million)
By Mode of Operation
- Autonomous- Market Size Forecast 2018-2028, (USD Million)
- Semi-Autonomous- Market Size Forecast 2018-2028, (USD Million)
By Launch Platform
- Land- Market Size Forecast 2018-2028, (USD Million)
- Airborne- Market Size Forecast 2018-2028, (USD Million)
- Naval- Market Size Forecast 2018-2028, (USD Million)
By Region
- North America
- South America
- Europe
- The Middle East Africa
- Asia Pacific

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What are the primary factors driving the growth of the Global Precision Guided Munition Market?

Advancing Military Modernization Ignites Precision Guided Munition Demand– During the historical years, military modernization drove the adoption of Precision Guided Munition by addressing the need for accuracy, flexibility, reduced collateral damage, and enhanced strategic capabilities. As armed forces worldwide seek to upgrade their arsenals and adapt to evolving security challenges, the requirement for Precision Guided Munition remains a vital factor in elevating the market size during the historical years. In addition, rising flexibilities in the mission profiles involve the development of multi-role platforms and weapons.

These weapons could be integrated across different types of platforms such as aircraft, naval vessels, and ground vehicles, allowing armed forces to adapt to various mission profiles without needing specialized Munition for each scenario, which is further expected to escalate the market share in the forthcoming years.

Furthermore, the modernization of the Defense Armed Forces involves the acquisition of platforms, technologies, and weapon systems to upgrade defense capabilities. This ensures that the Armed Forces are prepared to address a wide range of security challenges across the spectrum. The government attaches the highest priority to ensuring that the Armed Forces are sufficiently equipped to meet any operational requirement, which is achieved through the induction of new equipment and technological upgradation of capabilities. So, this factor is estimated to escalate the market size during 2023-2028.

Key Questions Addressed:

Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?

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