The Asia-Pacific and the Middle Eastern regions are presumed to remain as the emerging markets for global smart weapons. Raytheon Company (U.S.), L-3 Communications Holdings (U.S.), MBDA (U.K.), General Dynamics Corporation (U.S.),
(PRWEB) January 23, 2015
The growth prospect of this market will be constant in the North American and European regions with no significant changes in the market share.
Browse 76 market data Tables and 60 Figures spread through 172 Pages and in-depth TOC on "Smart Weapons Market".
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The global smart weapons market is estimated to be around $5.12 billion in 2014 and is projected to be $8.55 in 2020, growing at a CAGR of 8.93% from 2014 to 2020. Recent conflicts across the globe have emphasized the need for precision attacks and stand-off surgical strikes. There is an imperative need to avoid collateral damage and at the same time to provide combatant commanders with an efficient fire power capability that could create an immediate positive effect on the battlefield. These needs are met by smart weapons, which are increasingly being taken into the inventory of the armed forces. Given the need for such systems, the demand is expected to increase during and after the forecast period.
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The increase in demand for precision strike weapons will remain as the key drivers for the growth of the smart weapons market. While, arm transfer regulation imposed on import and export of smart weapons pose as the major restraint for the growth of this market.
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Western companies such as Raytheon Company (U.S.), L-3 Communications Holdings (U.S.), MBDA (U.K.), General Dynamics Corporation (U.S.), and Lockheed Martin (U.S.) dominates this market and are expected to strengthen their market position across the globe during the forecast period. Alliant Techsystems, Inc. (U.S.), BAE Systems, Plc. (U.K.), The Boeing Company (U.S.), Rafael Advanced Defense Systems Ltd. (Israel), Thales Group (France), Rheinmetall AG (Germany) and Textron, Inc. (U.S.) are the other significant key players in the global smart weapons market.
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