The global smart weapons market size is expected to showcase exponential growth by reaching USD 30.12 billion by 2028. This information is published by Fortune Business Insights in its latest report, titled, “Smart Weapons Market, 2021-2028.” The report further mentions that the market stood at USD 17.17 billion in 2020 and is projected to exhibit a CAGR of 8.02% between 2021 and 2028. Factors such the increasing defense budget that is propelling countries to upgrade their military and the increasing focus on introducing advanced smart weapons are expected to boost the market’s growth in the forthcoming years. For instance, in February 2021, Rafael Advanced Defense Systems Ltd, the Israel-based weapons manufacturer, introduced a new member of the air-to-surface munition family, SPICE 250ER that is equipped with an integrated turbojet engine at the Aero India exhibition, Bengaluru, India.

Informational Source:

https://www.fortunebusinessinsights.com/smart-weapons-market-104058

List of the Companies Profiled in the Global Market:

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

Market Segmentation:

Based on product, the market is categorized into Missiles, Munitions, Guided Projectile, Guided Rocket, and Directed Energy Weapons. On the basis of platform, the market is segmented into Air, Land, and Naval.

Based on the platform, the land segment is anticipated to experience considerable growth backed by the increasing expenditure on defense by the military worldwide.

Based on technology, the market is divided into Laser Guidance, Infrared Guidance, Radar Guidance, Satellite Guidance, and Others. Lastly, on the basis of region, the market is segregated into Rest of the World, North America, Europe, and Asia-Pacific.