Missiles Global Market Report 2023 – By Product Type (Cruise Missiles, Ballistic Missiles), By Range (Short Range Missile, Medium Range Missile, Intermediate Range Missile), By Propulsion Type (Ramjet, Scramjet, Turbojet, Liquid Propulsion, Solid Propulsion, Hybrid Propulsion), By Application (Defense, Homeland Security) – Market Size, Trends, And Global Forecast 2023-2032

The land-based defense equipment refers to support and auxiliary equipment used for land-based defense operations such as weapons. The land-based defense equipment includes components and subcomponents such as turrets and ROWS, cannons and missiles, armor packages, and active protection systems. The main types of land-based defense equipment are armored vehicles, missiles, tanks, small arms, and light weapons. An armored fighting vehicle (AFV) is an armored battle vehicle that combines operational flexibility with attacking and protective capabilities. The different operations include autonomous land-based defense equipment, which is manual and is used in various applications such as military and law enforcement. The global land based defense equipment market is segmented - 1) By Type: Armored Vehicles, Missiles, Tanks, Small Arms and Light Weapons 2) By Operation: Autonomous Land based Defense Equipment, Manual 3) By Application: Military, Law Enforcement Subsegments Covered: Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles, Short Range, Medium Range, Intermediate Range, Intercontinental, Light, Medium, Heavy, Small Arms, Light Weapons The global land based defense equipment mro services market size will grow from $13.79 billion in 2022 to $14.73 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of land based defense equipment mro services is expected to grow to $17.65 billion in 2027 at a CAGR of 4.6%. The overall economic growth of the emerging economies is expected to positively impact the sea-based defense equipment manufacturing market. Rising disposable income, a result of economic growth in emerging markets, had a positive impact on the demand for defense equipment. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.4% in 2021. Developed economies are also expected to register stable growth during the forecast period. Stable economic growth is expected to increase investments in the nation's security, thereby driving the sea-based defense equipment manufacturing market during the forecast period. Major companies in the land-based defense equipment market include BAE Systems, Raytheon Co, Northrop Grumman Corp, General Dynamics Corp, and Lockheed Martin Corporation. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the land-based defense equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing was affected due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Defense equipment manufacturers depend on the supply of raw materials and parts from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and raw materials. The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the land-based defense equipment manufacturing market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. CornerShot rifles are increasingly being used in the defense industry. CornerShot weapons have a steel hinge that allows the gun’s frame to bend around the corner to attack the target without exposing themselves. These rifles help shooters navigate around corners via a high-resolution camera and LCD monitor. The corner-shot rifles are widely used inside armored vehicles and tanks, on a turret up top, which will allow for a full 360-degree field of cover while the triggerman remains safely inside the vehicle. The weapon is accurate and effective up to 100 to 200 meters, depending on the type of weapon. Corner Shot removes the need for this initial exposure. Asia-Pacific was the largest region in the land-based defense equipment market in 2022. Western Europeis expected to be the fastest growing region in the forecast period. The regions covered in the land-based defense equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the land-based defense equipment market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The land-based defense equipment market consists of sales of land-based defense equipment including battle vehicles, small weapons, radars, satellites, and sonars. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The land-based defense equipment market research report is one of a series of new reports from The Business Research Company that provides land-based defense equipment market statistics, including land-based defense equipment industry global market size, regional shares, competitors with a land-based defense equipment market share, detailed land-based defense equipment market segments, market trends and opportunities, and any further data you may need to thrive in the land-based defense equipment industry. This land-based defense equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Autonomous military weapons refer to automated military weapons that,  when activated, search, detect, evaluate the threat, track, and attack enemy targets based on sophisticated algorithms without further intervention by a human operator. It requires the integration of several core elements, like a mobile combat platform such as a drone aircraft, ship, or ground vehicle, various types of sensors to scrutinize the surroundings, processing systems to classify objects discovered by the sensors, and algorithms directing the platform to initiate an attack when an allowable target is detected. The main types of autonomous military weapons are autonomous and semi-autonomous. Autonomous weapons are weapons that choose and engage targets without the need for human involvement. The different products include missiles, rockets, guided bombs, target pods, and others and involve various platforms such as land, airborne, and naval. The global autonomous military weapons market is segmented - 1) By Type: Autonomous, Semi-autonomous 2) By Product: Missiles, Rockets, Guided Bombs, Target Pods, Others 3) By Platform: Land, Airborne, Naval The global autonomous military weapons market size will grow from $13.3 billion in 2022 to $14.68 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global autonomous military weapons is expected to grow to $21.81 billion in 2027 at a CAGR of 10.4%. The ability to perform dangerous tasks with precision has contributed to the growth of the autonomous military weapons market. Autonomy in weapons enables us to keep army personnel away from dangerous tasks or any imminent risk to human life. Besides this, increased reaction speed in decision making and eyes on the target will potentially increase accuracy. It has access to a larger amount of information, greater accuracy, and greater predictability for certain functions, freeing humans from dull or repetitive tasks and permitting access to environments that are inaccessible to remote control technologies. Major countries such as the USA, China, and Russia are significantly investing in artificial intelligence (AI) for weapons and are competing for superiority in this segment. For instance, Russia is investing $719 million until 2021 in AI research and development for weapons. The ability to hit the target without human involvement, along with minimizing risk to human life, increased the demand for the growth of the autonomous military weapons market. Major players in the autonomous military weapons market are Lockheed Martin, Boeing, Raytheon, AVIC, CASC, Rostec, Israel Aerospace Industries, Elbit Systems, Rafael, and STM. The risk posed by autonomous weapons compelled the researchers and designers to decide against manufacturing them, hampering the growth of the market. For instance, around 240 organizations involved in artificial intelligence and nearly 3,100 individuals vowed not to be involved in the development of autonomous weapon systems. The strong objection from around the world to manufacturing autonomous military weapons is a hindrance to the market's growth. IMI Systems, a state-owned weapons maker in Israel, was sold to Elbit for $522 million. IMI systems are the manufacturers of the Uzi sub-machine gun and the Galil assault rifle. It manufactures armored vehicles and also trains security agents. The deal will create a company with a heavy emphasis on research and development and whose product range will extend from IMI’s shoulder-launched missiles, precision-guided mortar munitions, and rocket-propulsion systems to Elbit’s portfolio of avionic systems, drones, and intelligence and cybertechnology. Elbit would also relocate the IMI facilities from central Israel to the southern Negev area. Asia-Pacific was the largest region in the autonomous military weapons market in 2022. Western Europe is expected to be the fastest-growing region in the autonomous military weapons market share during the forecast period. The regions covered in the global autonomous military weapons market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the autonomous military weapons market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The autonomous military weapons market consists of sales of auto-operated weapons such as autonomous explosives, and missiles. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The autonomous military weapons market research report is one of a series of new reports from The Business Research Company that provides autonomous military weapons market statistics, including global market size, regional shares, competitors with an autonomous military weapons market share, detailed autonomous military weapons market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous military weapons industry. This autonomous military weapons market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

A rocket engine is a component of a propulsion system that uses the combustion of reactive chemicals to supply the necessary energy to run the rocket. The rocket engine uses fuel and a source of oxygen to produce hot exhaust and accelerates the flow and produces thrust. The main types of rocket engines are physically powered, chemically powered, electrically powered, thermal, and nuclear. Electrically powered rocket engines employ electricity to accelerate a propellant using various electrical and/or magnetic techniques. The various products include liquid rocket engines and solid rocket engines that are used in spacecraft, ballistic missiles, and others. The global rocket engines market is segmented - 1) By Type: Physically Powered, Chemically Powered, Electrically Powered, Thermal, Nuclear 2) By Product Type: Liquid Rocket Engine, Solid Rocket Engine 3) By Application: Spacecraft, Ballistic Missiles, Others The global rocket engines market size will grow from $2.77 billion in 2022 to $2.71 billion in 2023 at a compound annual growth rate (CAGR) of -2.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global rocket engines is expected to grow to $3.17 billion in 2027 at a CAGR of 3.9%. Increasing rocket launches are expected to drive the growth of the rocket engines market in the forecast period. Over the next decade, hundreds of corporations and government agencies around the world are planning to launch rockets and place tens of thousands of satellites in large low-Earth orbit constellations. In 2019, there were 102 orbital launch attempts worldwide, with 97 of them reaching orbit. By 2025, the U.S. launch rate alone will double to around 200 launches each year, even if half of the strategies are successful. Therefore, the increasing rocket launches propel the growth of the rocket engines market. Major players in the rocket engines market are Aerojet Rocketdyne, Space X, Roscosmos, Mitsubishi Heavy Industries, Northrop Grumman, Safran, China Aerospace Science, and Technology Corporation (CASC), NASA, Blue Origin, Lockheed Martin, The Boeing Company and Rocket Lab. The high investment required for producing and procuring rocket engines is expected to hinder the growth of the rocket engine market in the forecast period. Rocket engines, which are extremely complex machines, require the most efficient combustion systems to move a spacecraft that requires extensive research and development and expensive components to manufacture. For instance, in May 2020, NASA awarded a contract to the U.S.-based rocket engine manufacturer, Aerojet Rocketdyne, to develop 18 Space Launch System (SLS) RS-25 rocket engines to support its Artemis Moon missions. This cost around $1.79 billion, including the amount required to develop and test these engines. Therefore, the high investment required for producing and procuring rocket engines restrains the growth of the rocket engine market. 3D printing technology is the key trend gaining popularity in the rocket engines market. Space organizations and private companies are designing 3D-printed rocket engines to reduce costs and speed up production. For instance, in September 2020, NASA's Rapid Analysis and Manufacturing Propulsion Technology (RAMPT) project is developing the production of an additive manufacturing methodology utilizing metal powder and lasers to 3D print rocket engine components. This technology is expected to reduce the cost of manufacturing complex combustion parts and also reduce the lead time of production. In February 2020, Skyrora, a US-based rocket start-up company, successfully tested its 3D-printed rocket engines market. In December 2020, Lockheed Martin, a US-based defense contractor, acquired Aerojet Rocketdyne for an amount of $4.4 billion. The acquisition expands Lockheed Martin's propulsion expertise, and Aerojet Rocketdyne's technologies were already 'key components' of Lockheed's supply chain. Aerojet Rocketdyne is a US-based rocket engine and missile manufacturer. North America was the largest region in the rocket engines market in 2022. North America is expected to be the fastest-growing region in the global rocket engines market share during the forecast period. The regions covered in the global rocket engines market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the rocket engines market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The rocket engine market consists of sales of rocket engines of various types to run the rockets. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD (cash), unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The rocket engines market research report is one of a series of new reports from The Business Research Company that provides rocket engines market statistics, including rocket engines industry global market size, regional shares, competitors with a rocket engines market share, detailed rocket engines market segments, market trends and opportunities, and any further data you may need to thrive in the rocket engines industry. This rocket engines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Hypersonic missiles refer to missiles powered by high-speed, air-breathing engines, or scramjets. The hypersonic missiles travel five times faster than sound, which is roughly 1 mile per second, and can reach speeds of up to 7672 miles per hour or more. Hypersonic weapons reduce the time it takes to pursue a target, the time warnings are available to an enemy, and the time defense systems have to deal with an imminent threat. The global hypersonic missiles market is segmented - 1) By Product: Hypersonic Glide Vehicle, Hypersonic Crusie Missile 2) By Application: Wire Guidance, Command Guidance, Terrain Comparision Guidance, Terrestial Guidance, Inertial Guidance, Beam Rider Guidance, Laser Guidance, Radio Frequencey (RF) And GPS Reference 3) By End-Users: Military, Civil The hypersonic missiles market research report is one of a series of new reports from The Business Research Company that provides hypersonic missiles market statistics, including hypersonic missiles industry global market size, regional shares, competitors with a hypersonic missiles market share, detailed hypersonic missiles market segments, market trends and opportunities, and any further data you may need to thrive in the hypersonic missiles industry. This hypersonic missile market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global hypersonic missiles market size grew from $112.02 million in 2022 to $125.04 million in 2023, at a compound annual growth rate (CAGR) of 11.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the hypersonic missiles market is expected to grow to $181.87 million in 2027 at a CAGR of 9.8%. The increase in initiatives and funding from the governments and defense forces is contributing to the growth of the hypersonic missiles market. Governments and defense sectors started funding the research on the hypersonic area to strengthen the forces. For instance, the Pentagon, the headquarters building of the United States Department of Defense, requested a $3.8 billion budget for hypersonic research for the fiscal year 2022. Furthermore, according to the Stockholm International Peace Research Institute report in 2021, global military spending increased to $2 trillion in 2020, a 2.6% increase over 2019. Therefore, the increase in initiatives and funding from governments and defense forces is expected to drive the growth of the hypersonic missiles market over the coming years. Major players in the hypersonic missiles market are Lockheed Martin, Raytheon Technologies, Northrop Grumman, Boeing, Saab AB, Systima Technologies, Mitsubishi Heavy Industries Ltd., Tactical Missiles Corporation, China Aerospace Science and Industry Corporation, Thales Group, and Denel Dynamics. The development of new hypersonic cruise missiles is a key trend gaining popularity in the hypersonic missiles market. Major companies operating in the hypersonic missiles sector are focused on developing hypersonic missiles to strengthen their position. For example, Boeing, Lockheed Martin, and Raytheon announced plans in August 2020 to develop a new solid-rocket air-breathing hypersonic standard cruise missile for launch from current fighter-bomber aircraft. According to Air Force authorities, these businesses are the only reliable sources of hypersonic cruise missiles. Hypersonic weapons move at speeds ranging from Mach 5 to Mach 10 — or 3,840 to 7,680 miles per hour. In December 2020, Lockheed Martin, a US-based aerospace company, acquired Aerojet Rocketdyne for a deal amount of $4.4 billion. The acquisition is expected to enhance Lockheed Martin’s allied security missions, space, and hypersonic technology. Aerojet Rocketdyne is a US-based rocket and missile, propulsion manufacturer. North America was the largest region in the hypersonic missiles market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hypersonic missiles market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the hypersonic missiles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The hypersonic missiles market consists of sales of hypersonic missiles such as aero-ballistic missiles. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The main types of products in hypersonic missiles are hypersonic glide vehicles and hypersonic cruise missiles. The hypersonic glide vehicles are a type of hypersonic missile that utilizes a re-entry vehicle to breach the speed of sound which is enough to overcome existing missile defense systems. It is used in wire guidance, command guidance, terrain contour matching, terrestrial guidance, inertial guidance, beam rider guidance, laser guidance, and radiofrequency, and GPS reference and is implemented in various verticals such as military and civil.

A precision-guided munition is a guided weapon that detects electromagnetic energy reflected from a target to destroy a point target and minimize collateral damage. These are guided using a global positioning system (GPS), a laser guidance beam, or an integrated inertial navigation system. The main types of products in the precision-guided munition category are tactical missiles, guided rockets, guided ammunition, torpedoes, and loitering munitions. Tactical missiles are shorter-ranged weapons designed for use in close combat areas. These operate at various speeds, such as subsonic, supersonic, and hypersonic. The different modes of operation include semi-autonomous and autonomous and involve several technologies such as infrared, semi-active laser, inertial navigation system (INS), a global positioning system (GPS), radar homing, and anti-radiation. It is also segmented by launch platform into land, airborne, and naval. The global precision guided munition market is segmented - 1) By Product: Tactical Missiles, Guided Rockets, Guided Ammunition, Torpedoes, Loitering Munitions 2) By Technology: Infrared, Semi Active Laser, Inertial Navigation System (INS), Global Positioning System (GPS), Radar Homing, Anti-Radiation 3) By Launch Platform: Land, Airborne, Naval 4) By Mode of Operation: Semi-Autonomous, Autonomous 5) By Speed: Subsonic, Supersonic, Hypersonic The global precision-guided munition market size grew from $32.74 billion in 2022 to $36.87 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the precision-guided munition market is expected to grow to $52.55 billion in 2027 at a CAGR of 9.3%. The increase in military expenditure is significantly driving the growth of the precision-guided munition market. The military refers to the armed forces of any country that help maintain peace and stability in the country. Military expenditure is more focused on military modernization programs and the increase in the need for precision-guided munition to minimize collateral damage and increase lethality against the target, thereby promoting the adoption of precision-guided munition. For instance, according to the Stockholm International Peace Research Institute (SIPRI), in 2020, global military expenditure rose to $2 trillion, an increase of 2.6% from 2019. Therefore, increasing military expenditure is expected to propel the growth of the precision-guided munition market. Major players in the precision-guided munition market are Northrop Grumman, Lockheed Martin Corporation, Boeing, BAE Systems, General Dynamics Corporation, Thales Group, L3 Harris Technologies Inc., Leonardo S.p.A, Elbit Systems Ltd., Saab AB, Israel Aerospace Industries, Rheinmetall AG, Bharat Dynamics Limited, Denel Dynamics, and LIG Nex 1. Strategic partnerships and collaborations have emerged as a key trend in the precision-guided munition market. Key players operating in the precision-guided munition market are focusing on partnerships and collaborations to improve efficiency, expand value propositions, use skills and abilities of other companies, improve leadership skills, and extend their growth in new areas. For instance, in April 2021, Rheinmetall, a German company that manufactures equipment and systems for government, security, and military ground, air, and naval forces and specializes in precision-guided munitions, partnered with Northrop Grumman, a US-based aerospace and defense company, to develop precision-guided enhanced range artillery ammunition. Similarly, in July 2020, BAE Systems, a UK-based aerospace company, acquired the Collins Aerospace Military Global Positioning System (GPS) business from Raytheon Technologies Corporation for $1.9 billion. This deal will help BAE extend GPS anti-jamming and anti-spoofing technology that is necessary for a range of defense missions. Raytheon Technologies is a US-based aerospace and defense company that specializes in missiles and precision munitions. In December 2021, Vertex Aerospace, a US-based aerospace and defense company, acquired Raytheon Technologies’ defense training and mission-critical solutions business lines for an undisclosed amount. This deal will help Vertex expand into highly specialized value-added technology solutions and services, including defense and commercial training, mission-critical support solutions, and engineering and modernization capabilities. Raytheon Technologies is a US-based aerospace and defense company that specializes in missiles and precision munitions. Asia-Pacific was the largest region in the precision-guided munition market in 2022. The regions covered in the precision-guided munition market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the precision-guided munition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The precision-guided munition market consists of sales of autonomous long range artillery munition, loitering munitions, aircraft self-protection missile, and digital guided missiles. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The precision-guided munition market research report is one of a series of new reports from The Business Research Company that provides precision-guided munition market statistics, including precision-guided munition industry global market size, regional shares, competitors with a precision-guided munition market share, detailed precision-guided munition market segments, market trends and opportunities, and any further data you may need to thrive in the precision-guided munition industry. This precision-guided munition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

A smart weapons refers to computer-guided weapons embedded with sensors and guided systems. These precision-guided weapons can hit targets with high accuracy and precision and are operated remotely, assisted by the use of external operating systems. The main types of smart weapons include air-to-ground missiles, surface-to-air missiles, smart bombs, sensor-fused weapons, directed energy weapons, precision artillery munitions, electromagnetic pulse weapons, smart bullets, and other smart weapons. Air-to-ground missiles refer to missiles fired from military aircraft to hit ground targets on land, at sea, or both. The different smart weapons technologies include laser guidance, infrared guidance, radar guidance, and satellite guidance used on platforms including air, naval, and land. The global smart weapons market is segmented – 1) By Type: Air-to-ground Missiles, Surface-to-air Missiles, Smart Bombs, Sensor Fused Weapons, Directed Energy Weapons, Precision Artillery Munitions, Electromagnetic Pulse Weapons, Smart Bullets, Other Smart Weapons 2) By Platform: Air, Naval, Land 3) By Technology: Laser Guidance, Infrared Guidance, Radar Guidance, Satellite Guidance The global smart weapons market size grew from $13.77 billion in 2022 to $15.2 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of smart weapons is expected to grow to $21.11 billion in 2027 at a CAGR of 8.6%. The increasing global and regional instability is driving the growth of the smart weapons market. Transnational and regional instability refers to the political instability in neighboring countries. Many countries have adopted smart weapons to protect themselves from rising regional instability and to protect themselves from threats by neighboring countries. For instance, according to the Global Peace Index from the Institute for Economics & Peace (IEP), in 2020 political instability increased, with twice as many countries deteriorating as improving. The economic impact of violence increased in 2020 to $14.96 trillion due to an increase in global military expenditure, which rose by 3.7% over the previous year. Therefore, the increasing transnational and regional instability drives the smart weapons market. Major players in the smart weapons market are Lockheed Martin, MBDA, Inc., Orbital ATK, General Dynamics Corporation, BAE Systems, The Boeing Co., Textron, Inc., MBDA, Northrop Grumman, Raytheon Company, Rheinmetall AG, Thales Group, Israel Aerospace Industries, Denel Dynamics, Rafael Advanced Defense Systems Ltd. BAE Systems, L-3 Fuzing And Ordnance Systems Inc., L3Harris Technologies Inc., Alliant Techsystems Inc., Airbus Group, Leonardo-Finmeccanica, Saab AB, Aselsan A.S., Diehl Stiftung & Co. KG, General Dynamics, OTO Melara S.P.A, United Technologies Corporation, China Aerospace Science & Industry Corp, Orbital ATK, Textron Inc., IAI, and Rafael Advanced Defense Systems Ltd. Increasing strategic partnerships and collaborations is a key trend gaining popularity in the smart weapons market. For instance, in February 2021, German automotive and arms manufacturer Rheinmetall Denel Munition and American aerospace and defense technology company Northrop Grumman signed a ten-year deal to develop ammunition technologies for future artillery operations. By equipping 155mm artillery rounds with an integrated M1156 precision guidance kit, the agreement focuses on precision-guided enhanced range artillery ammunition solutions (PGK). In July 2020, UK-based aerospace company BAE Systems acquired the Collins Aerospace Military Global Positioning System (GPS) business from Raytheon Technologies Corporation for an undisclosed amount. The deal augments BAE Systems’ existing electronic systems portfolio through the addition of robust GPS anti-jamming and anti-spoofing technology that enables reliable navigation and guidance for a range of defense missions. Raytheon Technologies Corporation is a US-based aerospace and defense company. North America was the largest region in the smart weapons market in 2022 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the smart weapons market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the smart weapons market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The smart weapons market consists of sales of precision-guided bombs, guided bullets, and smart land mines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The smart weapons market research report is one of a series of new reports from The Business Research Company that provides smart weapons market statistics, including smart weapons industry, global smart weapons market size, regional shares, competitors with a smart weapons market share, detailed smart weapons market segments, market trends and opportunities, and any further data you may need to thrive in the smart weapons industry. This smart weapons market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Missile defense system refer to the technology or weapon that is involved in tracking, detection, and destruction of the attacking missiles. Missile defense systems are designed specifically to target threats quickly, while other forward-based missile defense systems will be able to carry out missions against rival aircraft and air-launched cruise missiles. The main types of technologies used in missile defense system are fire control system, weapon system, countermeasure system and command and control system. The fire control system are the missile defense systems that refers to a group of components that work together to assist the weapon system in tracking and targeting a target. The various domains using missile defense system includes ground, air, marine and space and have ranges such as short, medium and long. Various threat type of missile defense system are subsonic missiles, supersonic missiles and hypersonic missiles. The global missile defense system market is segmented - 1) By Technology: Fire Control System, Weapon System, Countermeasure System, Command And Control System 2) By Domain: Ground, Air, Marine, Space 3) By Range: Short, Medium, Long 4) By Threat Type: Subsonic Missiles, Supersonic Missiles, Hypersonic Missiles The missile defense system market research report is one of a series of new reports from The Business Research Company that provides missile defense system market statistics, including missile defense system industry global market size, regional shares, competitors with a missile defense system market share, detailed missile defense system market segments, market trends and opportunities, and any further data you may need to thrive in the missile defense system industry. This missile defense system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global missile defense system market size grew from $25.65 billion in 2022 to $28.73 billion in 2023 at a compound annual growth rate (CAGR) of 12.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global missile defense system market is expected to grow to $43.84 billion in 2027 at a CAGR of 11.1%. The surge in defense spending globally is expected to drive the growth of the missile defense system market in the forecast period. The surge in defense expenditure facilitates the implementation of expensive but necessary missile defense system technologies. The advancements in weapons and attacking capabilities worldwide have created the demand for the installation of defense technologies by governments to prevent threats from foreign countries. For instance, according to Stockholm International Peace Research Institute (SIPRI), total global military expenditure has increased to $1,981 billion in 2020 with an increase of 2.6% from 2019. The United States being the world’s largest military spender, accounted for 39% of total military expenditure in 2020. Therefore, the surge in defense spending globally drove the growth of the missile defense system market. Major players in the missile defense system market are BAE Systems, General Dynamics, Lockheed Martin, MBDA, Northrop Grumman, Raytheon Technologies, Rheinmetall, Boeing, Saab AB, Aerojet Rocketdyne, BrahMos Aerospace and Israel Aerospace Industries. The rise in developments and increasing use of artificial intelligence is a key trend gaining popularity in the missile defense system market. Artificial intelligence is computer intelligence or intelligence demonstrated by a machine to help perform simple tasks more efficiently or tasks that couldn’t be performed otherwise. Developments in artificial intelligence are the discovery of knowledge that helps in developing products using AI or machine learning. For instance, in 2021, Rafael Advanced Defense Systems, an Israel-based company launched a new sea breaker maritime and land-based long-range missile that mixes artificial intelligence and decision-making algorithms to create a fifth-generation weapon system. The sea breaker helps in providing exact strikes from the standoff place up to 300km. In July 2020, BAE Systems, a UK-based company acquired Collins Aerospace’s military global positioning system (GPS) business, for an undisclosed amount. This acquisition is expected to help in technology-based business and bring new discriminating capabilities to the U.S. Department of Defense. Collins Aerospace was founded in 2018 and is a US-based manufacturer of components related to military and defense and commercial aviation. North America was the largest region in the missile defense system market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the missile defense system market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the missile defense system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The missile defense system market consists of sales of missile defense system components including satellite sensors, interceptors, and command and control. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

A propulsion system is a machine that provides a propelling or driving force to push a forward motion in the object using Newton’s third law of action and reaction. The propulsion systems are used to generate thrust to accelerate spacecraft and artificial satellites. The main types of propulsion systems are air-breathing and non-air breathing. Air-breathing uses oxygen from the atmosphere in the combustion of fuel. The propulsion system is widely used in missiles, aircraft, spacecraft, and unnamed aerial vehicles, and they are utilized by end-users ranging from commercial, government, and military. The global propulsion systems market is segmented - 1) By Type: Air Breathing, Non-Air Breathing 2) By Application: Airplanes, Missiles, Unnamed Aerial Vehicles, Spacecraft 3) By End-User: Commercial, Government & Military The global propulsion systems market size will grow from $286.93 billion in 2022 to $311.47 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global propulsion systems is expected to grow to $426.25 billion in 2027 at a CAGR of 8.2%. Rising defense expenditure is expected to propel the growth of the propulsion systems market going forward. Defense expenditure refers to the amount that a country spends on military measures or resources. Increasing defense expenditure is expected to boost demand for propulsion systems, as they play an integral role in various products such as rockets, unmanned aerial vehicles, satellite rockets, aircraft, and others. For instance, according to Stockholm International Peace Research Institute, a Sweden-based independent resource on global security, total global military expenditure increased by 0.7% to $2113 billion in 2021. Therefore, rising defense expenditure is expected to boost demand for propulsion systems market during the forecast period. Major players in the propulsion systems market are CFM International, General Electric Company, Rolls-Royce Holdings, United Technologies, Safran S.A., Honeywell International Inc., GKN Ltd., MTU Aero Engines AG, United Engine Corporation, Aero Engine Corporation of China, 3W International GmbH, Bombardier Recreational Products Inc., and Space Exploration Technologies Corp. Technological advancement is a key trend gaining popularity in the propulsion systems market. Major market players are concentrating their efforts on creating innovative technologies to strengthen their position in the propulsion systems market. For instance, in November 2020, the National Aeronautics and Space Administration, an independent agency of the U.S. federal government responsible for space research, outfitted the DART spacecraft with a Next-Gen technology demonstration propulsion system called NEXT-C (NASA’s Evolutionary Xenon Thruster-Commercial) ion propulsion system. The new technology propulsion system is expected to help in making spacecraft deliberately targeted to strike an asteroid at high speed. In October 2021, Trentar, a Mumbai-based UAV manufacturer, acquired Trishula for an undisclosed amount. The acquisition would help the Indian UAV market become independent and self-sufficient. Trishula is a Hyderabad-based propulsion system startup. North America was the largest region in the propulsion systems market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the propulsion systems market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the propulsion systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The propulsion system market consists of sales of the propeller, the turbine (or jet) engine, the ramjet, and the rocket. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The propulsion systems market research report is one of a series of new reports from The Business Research Company that provides propulsion systems market statistics, including propulsion systems industry global market size, regional shares, competitors with a propulsion systems market share, detailed propulsion systems market segments, market trends and opportunities, and any further data you may need to thrive in the propulsion systems industry. This propulsion systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.