Global Smarts Sports Equipment market trends 2024, Forecast To 2033

The smart weapons market has seen substantial growth, rising from $15.04 billion in 2023 to $16.52 billion in 2024, with a CAGR of 9.8%. This growth in the historical period is attributed to export and international sales, the growing demand for precision-guided munitions (PGMs), an increasing demand for multi-role weapons, a focus on electronic warfare and countermeasures, and the demand for interoperable weapons systems. Looking ahead to 2028, the market is expected to continue its rapid growth, reaching $23.31 billion at a CAGR of 9.0%. The forecasted drivers include counter-terrorism efforts, budget allocations for defense, cybersecurity integration, modernization of armed forces, and the rising demand for precision strike weapons. Major trends in the forecast period include artificial intelligence (AI) and machine learning (ML), miniaturization and increased autonomy, the development of directed energy weapons (DEW), counter-drone and counter-missile systems, and the promotion of human-machine teaming and decision support.