Dallas, TX -- (ReleaseWire) -- 03/18/2014 -- The global smart weapons market is valued at $3621 million in 2013 and is expected to register a CAGR of 8.06% to reach $5335.1 million by 2018. The cumulative market across the forecasted period is estimated to be $26.73 billion.
U.S. is the most attractive market for smart weapons. It is a matured market with most of the market leaders situated in this country. The U.S. smart weapons market is valued at $1593.3 million in 2013 and is expected to register a CAGR of 2.6% to reach $1817.5 million by 2018. The second-largest market is the Middle East, where the market is expected to increase from $350.9 million in 2013 to $712.1 million in 2018.
Browse more than 49 market data tables with 82 figures spread through 149 pages and in-depth TOC on "Smart Weapons Market"
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 provide combatant commanders with a weapons capability that could create an immediate positive effect on the battlefield. These needs are met by smart weapons that are increasingly being added to the inventory of the armed forces. Given the need for such systems, the demand is expected to increase during and after the period under study.
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Smart weapons range from precision-guided artillery rounds and precision-guided bombs to precision-guided stand-off missiles. Anti-armor weapons comprise of anti-tank and anti-structure missiles. Lately, multi-mission capable missiles, which could be used in a variety of operations, are widely developed and produced, thus reducing logistics and providing single, easy-to-use solutions for a variety of missions. Guided munitions are bombs that are fitted with any one of the following guidance systems: inertial navigation system, global positioning system, laser beam guidance, terrain mapping, radar guidance, infrared imaging, and video guidance systems.
The proliferation of smart weapons onto multiple platforms changes the battlefield. Traditionally, smart weapons could only be integrated with a specific platform or a particular aircraft. The current scenario requires open architectures and integration across various types of platforms. Therefore smart weapons are increasingly becoming easy to integrate.
The ever evolving armor technology has forced manufacturers to develop munitions that can penetrate thicker armors on tanks and other armored vehicles; also, explosive armors have ensured protection to the platform. To counter these armors, precision munitions come with an armor piercing capability. The incendiary mix present within the munitions can pierce through the armor plating and then exploding.
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 a weapons capability that could create an immediate positive effect on the battlefield. These needs are met by smart weapons that are increasingly being inducted 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 threats we face are uncertain; the battlefield is often urban environment and population centers; and the enemy is tactically innovative, highly networked, and intelligent, which defeats the conventional superiority that the armed forces possess. The technological advances of today have however given us the capability to face the enemy in an efficient and effective manner. One such advancement is in the area of smart weapons technology.
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