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The global Precision Guided Munition Market size is expected to reach USD 55.16 billion by 2030, expanding at a CAGR of 5.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing need for extremely accurate munitions for target attacking is anticipated to increase the demand for precision-guided munitions. Moreover, enhancements in precision attacking are likely to support the market. Growing political and territorial conflicts between major economies are likely to encourage the enhancements of their respective military and army operations. Precision attacking techniques are used in the army, air force, and naval forces, thus are likely to influence the market for precision-guided munitions over the forecast period.
Technological advancement in attacking components including missiles, rockets, mortars, artillery shells, bombs, and bullets to incorporate advanced positioning technologies are expected to enhance the market. Global Positioning System (GPS) and Semi-Active Lasers systems are popular positioning techniques to keep track of the targeted location for the attack. Prominent players including Lockheed Martin, Atlas Elektronik, Raytheon, Thales Group, BAE Systems, Northrop Grumman, and others are investing heavily in R&D activities to develop advanced technology war equipment. Moreover, ammunition manufacturers are focusing on the installation of a guiding mechanism in the components.
List of Key Players in Precision Guided Munition Market
Related Press Release@ Precision Guided Munition Market Report
Precision Guided Munition Market Report Highlights
Request For A Free Consultation @ https://www.grandviewresearch.com/request-free-consultation/450432/rfc
Precision Guided Munition Market Segmentation
Grand View Research has segmented the global precision guided munition market based on product, technology, and region:
Precision Guided Munition Product Outlook (Revenue, USD Million, 2018 - 2030)
Precision Guided Munition Technology Outlook (Revenue, USD Million, 2018 - 2030)
Precision Guided Munition Regional Outlook (Revenue, USD Million, 2018 - 2030)
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