Precision Guided Munition Market To Witness A Significant Growth Of USD 55.17 Billion By 2030


 San Francisco, 1 Apr 2022: The Report Precision Guided Munition Market Size, Share & Trends Analysis Report By Product (Tactical Missiles, Loitering Munition), By Technology (GPS, INS), By Region (APAC, Europe), And Segment Forecasts, 2022 - 2030

The global precision guided munition market size is expected to reach USD 55.17 billion in 2030, registering a CAGR of 5.6% over the forecast period, according to a new report by Grand View Research Inc. The growing need for extremely accurate munitions for target attacking is anticipated to increase the demand for precision-guided munitions. Moreover, enhancements in precision attacking are likely to support the market. Growing political and territorial conflicts between major economies are likely to encourage the enhancements of their respective military and army operations. Precision attacking techniques are used in the army, air force, and naval forces, thus are likely to influence the market for precision-guided munitions over the forecast period.

Technological advancement in attacking components including missiles, rockets, mortars, artillery shells, bombs, and bullets to incorporate advanced positioning technologies are expected to enhance the market. Global Positioning System (GPS) and Semi-Active Lasers systems are popular positioning techniques to keep track of the targeted location for the attack. Prominent players including Lockheed Martin, Atlas Elektronik, Raytheon, Thales Group, BAE Systems, Northrop Grumman, and others are investing heavily in R&D activities to develop advanced technology war equipment. Moreover, ammunition manufacturers are focusing on the installation of a guiding mechanism in the components.

Access Research Report of Precision Guided Munition Market @ https://www.grandviewresearch.com/industry-analysis/precision-guided-munition-market

Precision Guided Munition Market Report Highlights

  • The market for tactical missiles is projected to grow significantly over the forecast period on account of their increasing usage in all types of attacking mechanisms. Surface-to-surface and air-to-air tactical missiles are gaining popularity in the warfare equipment
  • In the U.S., the revenue for precision guided munitions stood at USD 5.3 billion in 2021 and is expected to grow over the forecast period owing to increasing expenditures for military upgrade and enhancement in the attacking equipment
  • In 2019, semi-active laser positioning technology accounted for the largest share owing to its prominence in the target positioning. Modern missiles and rockets are installed with these positioning mechanisms for guidance to the exact location
  • The GPS technology is expected to register the fastest growth rate over the forecast period due to its prominent location tracking for the war equipment
  • Conflicts between the U.S. and Iran are anticipated to enhance the military capabilities of the respective economies. Thereby, is expected to support the market for precision guided munition in the estimated time

List of Key Players of Precision Guided Munition Market

  • Lockheed Martin
  • Atlas Elektronik
  • Raytheon
  • Thales Group
  • BAE Systems
  • Northrop Grumman
  • General Dynamics
  • Elbit Systems

Access Press Release of Precision Guided Munition Market @ https://www.grandviewresearch.com/press-release/global-precision-guided-munition-market

 

Comments

Post a Comment

Popular posts from this blog

Asia Pacific PoC Diagnostics Market Growth Opportunities, Industry Analysis And Forecast: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Asia Pacific PoC Diagnostics Market  Analysis And Segment Forecasts To 2020 The Asia Pacific point of care (PoC) diagnostics market is expected to reach USD 5,427.1 million by 2020, according to a new study by Grand View Research, Inc. Growing base of geriatric population and the ability to render immediate results and improve patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) are expected to drive demand over the next six years. Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expect
Read more

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein retail stores, restaurants, and hot
Read more