In 2020, the global smart weapons market was valued at $17.17 billion. Despite a slight decrease in demand due to the COVID-19 pandemic, the market is expected to grow significantly, reaching $30.12 billion by 2028. This represents an average annual growth rate of 8.02% from 2021 to 2028.
Informational Source:
https://www.fortunebusinessinsights.com/smart-weapons-market-104058
Key Comapnies Covered in Smart Weapons Market are:
In the rapidly evolving landscape of modern warfare, the emergence of "smart weapons" has revolutionized the way militaries around the world approach combat operations. These technologically advanced systems, equipped with sophisticated guidance, targeting, and precision strike capabilities, are redefining the very nature of military engagement. As nations compete for strategic advantage, the race to develop and deploy the latest smart weapon technologies has become a top priority.
One of the most prominent advancements in the realm of smart weapons is the development of precision-guided munitions (PGMs). These GPS-guided or laser-guided projectiles, such as the Joint Direct Attack Munition (JDAM) and the Paveway series of laser-guided bombs, have transformed the way militaries conduct airstrikes and land-based operations.
Unlike traditional "dumb" bombs that rely on ballistic trajectories, PGMs can precisely navigate to their intended targets, greatly reducing the risk of collateral damage and increasing the overall effectiveness of military strikes. This capability has become increasingly crucial in urban warfare environments, where minimizing civilian casualties is a top priority.
Moreover, the latest generation of PGMs incorporates advanced target recognition and tracking algorithms, enabling them to identify and lock onto specific objectives with unprecedented accuracy. The AGM-158 JASSM (Joint Air-to-Surface Standoff Missile), for instance, can autonomously search for and identify pre-designated targets, even in the face of countermeasures and electronic warfare.