USD 2.40 bn Growth in Land-Based Smart Weapons Market Size, Development and Procurement of Advanced Technologies to Drive Growth – Technavio – QNT Press Release


NEW YORK, Sept. 12, 2022 /PRNewswire/ — The development and procurement of advanced technologies are driving the land-based smart weapons market growth. However, factors such as stringent regulatory norms may challenge market growth.

The land-based smart weapons market size is expected to grow by USD 2.40bn from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 7.69% during the forecast period.

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Land-Based Smart Weapons Market 2022-2026: Driver and Challenge

The development and procurement of advanced technologies are driving the smart weapons market growth. Top defense spenders across the world, such as the US, Russiaand Chinahave made significant advances in the research and development of land-based smart weapons. For instance, in January 2022the gun company LodeStar Works announced its plan to launch a smart gun with RFID technology. Such developments are expected to fuel the growth of the global land-based smart weapons system during the forecast period.

Stringent regulatory norms are challenging the smart weapons market growth. Most vendors work with government organizations in various countries. They should also adhere to rules concerning the storage, use, and release of harmful substances. These regulations negatively impact the growth of the market. For instance, in June 2022the Biden government signed a bipartisan gun control bill into law. Such factors will restrict the growth of the global land-based smart weapons market during the forecast period.

Land-Based Smart Weapons Market 2022-2026: Scope

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Land-Based Smart Weapons Market 2022-2026: Segmentation
  • Product
    • Missiles
    • Ammunition
    • Others
  • Geography
    • North America
    • APAC
    • Europe
    • Middle East And Africa
    • South America
Land-Based Smart Weapons Market 2022-2026: Revenue-generating Product Segments

The missiles segment will have maximum growth momentum during the forecast period. The demand for smart land-based missiles, as well as their development and procurement, has increased due to the changing nature of modern warfare

Land-Based Smart Weapons Market 2022-2026: Vendor Analysis

ASELSAN AS, BAE Systems Plc, Diehl Stiftung and Co.KG, Hanwha Corp., Israel Aerospace Industries Ltd, Kongsberg Gruppen ASA, L3Harris Technologies Inc., Lockheed Martin Corp., MBDA, Northrop Grumman Corp., Rafael Advanced Defense Systems Ltd, Raytheon Technologies Corp., Rheinmetall AG, Safran SA, Thales Group, and The Boeing Co. are among some of the major market participants.

This report provides a full list of key vendors, their strategies, and latest developments. Request a FREE PDF Sample Now

Land-Based Smart Weapons Market 2022-2026: Key Highlights
  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will assist land-based smart weapons market growth during the next five years
  • Estimation of the land-based smart weapons market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the land-based smart weapons market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of land-based smart weapons market vendors
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Land-Based Smart Weapons Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.69%

Market growth 2022-2026

USD 2.40 billion

Market structure

Concentrated

YoY growth (%)

7.54

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