The global smart weapons market was worth $18.99 billion in 2023 and is expected to grow to $20.20 billion in 2024. By 2032, it could reach $45.24 billion, growing at an average rate of 10.61% per year. In 2023, North America led the market, holding a 33.86% share.

Although the global pandemic has led to an unprecedented loss, the defense sector is slowly picking up the pace by adhering to the stringent regulations of social distancing imposed by the government agencies and the resumption of sensitive operational drills. The increasing focus on upgrading the military by countries globally is likely to favor the growth of the market in the near future.

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List of the Companies Profiled in the Global Market:

• BAE Systems (The U.K)
• Boeing (The U.S.)
• General Dynamics Corporation (The U.S.)
• Lockheed Martin Corporation (The U.S.)
• MBDA (France)
• Northrop Grumman Corporation (The U.S.)
• Raytheon Company, a Raytheon Technologies company (The U.S.)
• Rheinmetall AG (Germany)
• Textron Inc. (The U.S.)
• Thales Group (France)

Market Segmentation:

Based on product, the global market for smart weapons is divided into Missiles, Munitions, Guided Projectile, Guided Rocket, and Directed Energy Weapons. On the basis of platform, the market is segregated into Air, Land, and Naval. Based on technology, the market is categorized into Laser Guidance, Infrared Guidance, Radar Guidance, Satellite Guidance, and Others. Lastly, on the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.

What does the Report Include?