Smart Weapons Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019
Albany, New York (PRWEB) January 22, 2015
According to a new market report “Smart Weapons Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” published by Transparency Market Research, the global smart weapons market is forecast to reach USD 66.91 billion by 2019. Some of the factors responsible for the growth of smart weapons market are rising need for precision to avoid collateral damage during warfare and high defense spending on modernization of military resources. Additionally, the availability of precise navigation systems incorporated in modern weaponry is surging the demand for smart weapons globally.
Smart weapons market was valued at USD 34 billion in 2012. The market revenue is anticipated to grow at a CAGR of 10.3% from 2013 to 2019. The market is segmented by type into air-to-ground missiles, surface to air missiles, smart bombs, sensor fused weapons, direct energy weapons, precision artillery ammunitions, electro-magnetic pulse weapons, smart bullets and others (smart guns etc.). Missile system segments such as air-to-ground missiles and surface-to-air missiles dominated the smart weapons market in terms of market share in 2012. Further, guided bombs acquired significant portion of the market share in 2012 owing to their increasing preference over conventional bombs.
Browse the full Smart Weapons Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at http://www.transparencymarketresearch.com/smart-weapons-market.html
Geographically, North America represented the largest market for smart weapons and the region holds strong growth prospects in the coming years. Rising government efforts to modernize military resources in emerging economies such as China, Japan and India supported the growth of the smart weapons market in Asia Pacific region. Further, large number of conflicts in the Middle East such as the Syrian Civil War, Islamist unrest in Egypt and Yemen War are propelling the demand for smart weapons and this region is expected to grow at a high rate over the forecast period.
Some of the key players for the global smart weapons market include Lockheed Martin Corporation, Northrop Grumman, Boeing Company, Bae Systems, General Dynamics, MBDA Systems, Alliant Techsystems Inc. (ATK), Rafael Advanced Defense Systems Ltd, Raytheon Company, Rheinmetall AG and Textron Defense Systems among others.
A sample of the report in PDF obtained by visiting: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1347
This report analyzes the global smart weapons market in terms of revenue (USD billion). The market has been segmented as follows:
Global Smart Weapons Market, by Type:
- Air-to-Ground Missiles
- Surface-to-air missiles
- Smart Bombs
- Sensor Fused Weapons
- Direct Energy Weapons
- Precision Artillery Ammunitions
- Electro-Magnetic Pulse Weapons
- Smart Bullets
Browse the full Press Release of this report: http://www.transparencymarketresearch.com/pressrelease/smart-weapons-market.htm
Global Smart Weapons Market, by Geography:
- North America
- Asia Pacific
- Rest of the World
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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