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Smart Weapons Market Share

Report ID: GMI3048
Published Date: Sep 2023
Report Format: PDF

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Smart Weapons Market Share

Major companies operating in the smart weapons market are:

BAE Systems plc
Elbit Systems Ltd
General Dynamics Corporation
Israel Aerospace Industries Ltd
L3Harris Technologies Inc.
Leonardo S.p.A
Lockheed Martin Corporation
MBDA
Mitsubishi Heavy Industries
Northrop Grumman Corporation
Raytheon Technologies Corporation
Rheinmetall AG
Saab AB
Textron Inc.
Thales Group
The Boeing Company.

The competitive landscape is characterized by continuous innovation as companies strive to improve their offerings with new technologies, integrations, and partnerships.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of smart weapons was reached USD 17.4 billion in 2022 and will register over 6% CAGR from 2023 to 2032, due to the increasing financial allocations by governments & defense departments for the development, acquisition, and deployment of advanced systems worldwide.

The laser technology segment is expected to register over 7% CAGR from 2023 to 2032, on account of its unparalleled precision and accuracy in reducing the risks of collateral damage & civilian casualties in military operations.

North America recorded over 30% share of the smart weapons market in 2022 and is set to register appreciable growth from 2023 to 2032, owing to the presence of large-scale defense budgets and the strong emphasis on technological superiority in the region.

BAE Systems plc, Elbit Systems Ltd., General Dynamics Corporation, Israel Aerospace Industries Ltd., L3Harris Technologies Inc., Leonardo S.p.A., Lockheed Martin Corporation, and MBDA are some of the major smart weapon companies worldwide.