Precision-Guided Munition Global Market Report 2022 – By Product (Tactical Missiles, Guided Rockets, Guided Ammunition, Torpedoes, Loitering Munitions), By Technology (Infrared, Semi Active Laser, Inertial Navigation System (INS), Global Positioning System (GPS), Radar Homing, Anti-Radiation), By Launch Platform (Land, Airborne, Naval), By Mode of Operation (Semi-Autonomous, Autonomous), By Speed (Subsonic, Supersonic, Hypersonic) – Market Size, Trends, And Global Forecast 2022-2026

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The precision-guided munition market consists of the sales of precision-guided munition by entities (organizations, partnerships, and sole proprietors) that are used to destroy a point target and minimize collateral damage. The precision-guided munition is a guided weapon that detects electromagnetic energy reflected from a target. 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 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 size is expected to grow from $28.48 billion in 2021 to $31.47 billion in 2022 at a compound annual growth rate (CAGR) of 10.5%. The global precision guided munition market size is expected to grow to $41.23 billion in 2026 at a CAGR of 7.0%.

Increasing military expenditure is significantly driving the growth of the precision-guided munition market. The military refers to the armed forces of any country that helps maintain peace and stability in the country. The 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 Stockholm International Peace Research Institute (SIPRI), in 2020, the global military expenditure rose to $2 trillion, an increase of 2.6% from 2019. Therefore, the increasing military expenditure is expected to propel the growth of the precision-guided munition market.

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, has 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 Collins Aerospace Military Global Positioning System (GPS) business from Raytheon Technologies Corporation for $1.9 billion. This deal will help BAE to 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 to 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.

Major players in the precision-guided munition market are Northrop Grumman, Lockheed Martin Corporation, Boeing, BAE Systems, General Dynamics Corporation, Thales Group, L3Harris 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.

Asia-Pacific was the largest region in the precision-guided munition market in 2021. The regions covered in the global precision-guided munition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the global precision-guided munition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

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

    Table Of Contents

    1. Executive Summary

    2. Precision-Guided Munition Market Characteristics

    3. Precision-Guided Munition Market Trends And Strategies

    4. Impact Of COVID-19 On Precision-Guided Munition

    5. Precision-Guided Munition Market Size And Growth

    5.1. Global Precision-Guided Munition Historic Market, 2016-2021, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Precision-Guided Munition Forecast Market, 2021-2026F, 2031F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Precision-Guided Munition Market Segmentation

    6.1. Global Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Tactical Missiles

    Guided Rockets

    Guided Ammunition

    Torpedoes

    Loitering Munitions

    6.2. Global Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Infrared

    Semi Active Laser

    Inertial Navigation System (INS)

    Global Positioning System (GPS)

    Radar Homing

    Anti-Radiation

    6.3. Global Precision-Guided Munition Market, Segmentation By Launch Platform, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Land

    Airborne

    Naval

    6.4. Global Precision-Guided Munition Market, Segmentation By Mode of Operation, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Semi-Autonomous

    Autonomous

    6.5. Global Precision-Guided Munition Market, Segmentation By Speed, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Subsonic

    Supersonic

    Hypersonic

    7. Precision-Guided Munition Market Regional And Country Analysis

    7.1. Global Precision-Guided Munition Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    7.2. Global Precision-Guided Munition Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    8. Asia-Pacific Precision-Guided Munition Market

    8.1. Asia-Pacific Precision-Guided Munition Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    8.3. Asia-Pacific Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    9. China Precision-Guided Munition Market

    9.1. China Precision-Guided Munition Market Overview

    9.2. China Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion

    9.3. China Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion

    10. India Precision-Guided Munition Market

    10.1. India Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    10.2. India Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    11. Japan Precision-Guided Munition Market

    11.1. Japan Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    11.2. Japan Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    12. Australia Precision-Guided Munition Market

    12.1. Australia Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    12.2. Australia Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    13. Indonesia Precision-Guided Munition Market

    13.1. Indonesia Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    13.2. Indonesia Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    14. South Korea Precision-Guided Munition Market

    14.1. South Korea Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    14.2. South Korea Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    15. Western Europe Precision-Guided Munition Market

    15.1. Western Europe Precision-Guided Munition Market Overview

    15.2. Western Europe Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    15.3. Western Europe Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    16. UK Precision-Guided Munition Market

    16.1. UK Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    16.2. UK Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    17. Germany Precision-Guided Munition Market

    17.1. Germany Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    17.2. Germany Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    18. France Precision-Guided Munition Market

    18.4. France Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    18.5. France Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    19. Eastern Europe Precision-Guided Munition Market

    19.1. Eastern Europe Precision-Guided Munition Market Overview

    19.2. Eastern Europe Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    19.3. Eastern Europe Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    20. Russia Precision-Guided Munition Market

    20.1. Russia Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    20.2. Russia Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    21. North America Precision-Guided Munition Market

    21.1. North America Precision-Guided Munition Market Overview

    21.2. North America Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    21.3. North America Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    22. USA Precision-Guided Munition Market

    22.1. USA Precision-Guided Munition Market Overview

    22.2. USA Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    22.3. USA Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    23. South America Precision-Guided Munition Market

    23.1. South America Precision-Guided Munition Market Overview

    23.2. South America Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    23.3. South America Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    24. Brazil Precision-Guided Munition Market

    24.1. Brazil Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    24.2. Brazil Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    25. Middle East Precision-Guided Munition Market

    25.1. Middle East Precision-Guided Munition Market Overview

    25.2. Middle East Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    25.3. Middle East Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    26. Africa Precision-Guided Munition Market

    26.1. Africa Precision-Guided Munition Market Overview

    26.2. Africa Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    26.3. Africa Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    27. Precision-Guided Munition Market Competitive Landscape And Company Profiles

    27.1. Precision-Guided Munition Market Competitive Landscape

    27.2. Precision-Guided Munition Market Company Profiles

    27.2.1. Northrop Grumman

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Lockheed Martin Corporation

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Boeing

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. BAE Systems

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. General Dynamics Corporation

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    28. Key Mergers And Acquisitions In The Precision-Guided Munition Market

    29. Precision-Guided Munition Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Research Inquiries

    30.4. The Business Research Company

    30.5. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2016-2021, $ Billion
  • Table 2: Global Forecast Market Growth, 2021-2026F, 2031F, $ Billion
  • Table 3: Global Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 4: Global Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 5: Global Precision-Guided Munition Market, Segmentation By Launch Platform, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 6: Global Precision-Guided Munition Market, Segmentation By Mode of Operation, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 7: Global Precision-Guided Munition Market, Segmentation By Speed, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 8: Global Precision-Guided Munition Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 9: Global Precision-Guided Munition Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 10: Asia-Pacific, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 11: Asia-Pacific, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 12: China, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 13: China, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 14: India, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 15: India, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 16: Japan, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 17: Japan, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 18: Australia, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 19: Australia, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 20: Indonesia, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 21: Indonesia, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 22: South Korea, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 23: South Korea, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 24: Western Europe, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 25: Western Europe, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 26: UK, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 27: UK, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 28: Germany, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 29: Germany, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 30: France, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 31: France, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 32: Eastern Europe, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 33: Eastern Europe, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 34: Russia, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 35: Russia, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 36: North America, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 37: North America, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 38: USA, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 39: USA, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 40: South America, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 41: South America, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 42: Brazil, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 43: Brazil, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 44: Middle East, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 45: Middle East, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 46: Africa, Precision-Guided Munition Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 47: Africa, Precision-Guided Munition Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 48: Northrop Grumman Financial Performance
  • Table 49: Lockheed Martin Corporation Financial Performance
  • Table 50: Boeing Financial Performance
  • Table 51: BAE Systems Financial Performance
  • Table 52: General Dynamics Corporation Financial Performance

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