Precision Guided Munition Market Is Booming Worldwide Report 2031 | Lockheed Martin Corporation, BAE Systems, Northrop Grumman Corporation, Elbit Systems Ltd.,.
Global Precision Guided Munition Market report from Global Insight Services is the single authoritative source of intelligence on Precision Guided Munition Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Precision-guided munitions (PGMs) are weapons that use guidance systems, such as lasers or GPS, to hit their targets with greater accuracy than unguided weapons. PGMs are often used in situations where collateral damage needs to be minimized, such as in urban areas or when the target is a small and/or moving target.
Key Trends
Precision-guided munitions (PGMs) are a type of guided weapon that uses a guidance system to accurately target a specific location. PGMs are a category of munitions that include missiles, bombs, and torpedoes.
PGMs have seen a significant increase in use since the early 2000s, as they offer a number of advantages over traditional unguided munitions. PGMs are more accurate than unguided munitions, which reduces the risk of collateral damage and civilian casualties. In addition, PGMs are less likely to be intercepted by enemy defenses and can be used to target specific types of targets, such as bunkers or buildings.
PGMs are typically controlled by an external guidance system, such as GPS, laser guidance, or infra-red guidance. The guidance system is used to direct the munition to its target and can be used to adjust the munition’s trajectory in mid-flight if necessary.
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Key Drivers
The key drivers of the precision-guided munitions market are the increasing demand for smart weapons, the need for enhanced accuracy and precision, and the growing demand for miniaturization. Additionally, the increasing need for effective and affordable weapons systems is also driving market growth. The development of new technologies, such as laser-guided munitions and GPS-guided munitions, is also providing a boost to the market growth.
Market Segmentation
The precision-guided munitions market is segmented by type, speed, technology and region. By type autonomous and semi-autonomous. By speed, the market is classified into hypersonic, non-hypersonic . By technology, the market is bifurcated into infrared, IIR homing, IR homing, semi-active laser, and others . By region, the market is segmented into North America, Europe, Asia-Pacific and rest of the world.
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Key Players
The key players in the precision-guided munitions market are Lockheed Martin Corporation, BAE Systems, Northrop Grumman Corporation, Elbit Systems Ltd., Boeing, General Dynamics Corporation, Saab AB, Israel Aerospace Industries Ltd., Raytheon Technologies Corporation and MBDA.
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