Precision Guided Ammunitions are expected to be high in demand as they reduce the extent of destruction of collateral damage and it is therefore possible to protect non-combatants during war. The development of PGMs has to some extent mitigated the difficult moral decisions which militaries had to make during the second world war with respect to carpet bombing. During the gulf war, the casualties suffered by civilians and soldiers due to precision guided munitions was much lower compared to the previous wars in which the United States was involved.
Over the years, the U.S. military has relied on PGMs to execute ground, air, and naval military operations. PGMs have become ubiquitous in U.S military operations; funding for these weapons has increased dramatically from FY1998. In FY2021, the Department of Defense (DOD) requested approximately USD 4.1 billion for more than 41,337 weapons in 15 programs. DOD projects requested for approximately USD 3.3 billion for 20,456 weapons in FY2022, USD 3.9 billion for 23,306 weapons in FY2023, USD 3.9 billion for 18,376 weapons in FY2024, and USD 3.6 billion for 16,325 weapons in FY2025.
The total Global market for Precision Guided Ammunitions is estimated at around USD 31-32 Billion in 2020 and the market is expected to grow to around USD 67-68 Billion by 2029. The CAGR of the market is accounted at around 9%. Tactical Missiles are expected to account for around half of the market. Revenues obtained from other supporting equipment and platform are not included in the scope of this report.
The study is aimed at:
- The Key drivers, restraints and challenges which are expected to shape the Global Precision Guided Munitions market are covered in detailed in the report.
- The key technologies which could have an impact on the Precision Guided Munitions Market have been covered in detail.
- The top ten countries have been analyzed in detail with respect to their import and exports of Precision Guided Munition platforms and segmented unit wise data from 2006- 2018.
- The Porter's Five Forces and the PEST of the Global Precision Guided Munitions market have been covered in the report.
- The high growth markets have been identified in the Opportunity Analysis Chapter.
- The market has been forecasted from 2020- 2029 considering all the factor, which is expected to impact the market.
- The Scenario Analysis Chapter covers the key scenarios and its impacts on the forecast chapter.
Segmentation covered in this report:
The market is segmented based on Region, Technology, and Product:
Region Wise Segmentation:
- North America
- Middle East
- Semi Active Laser
- Inertial Navigation System (INS)
- Global Positioning System (GPS)
- Radar Homing
- Anti-Radiation and
- Tactical Missiles
- Guided Rockets
- Guided Artillery
- Loitering Munition
Country Level Analysis
- South Africa
Reasons to buy
- The new players in the Precision Guided Ammunitions market and the potential entrants into this market can use this report to understand the key market trends that are expected to shape this market in the next few years.
- The Market Analysis Chapter cover the Key Drivers, Restraints and Challenges of the Precision Guided Ammunitions Report. The PEST and the Porter's five forces are covered in detailed in this report.
- The key technologies that could impact the Precision Guided Ammunitions Market have been covered in detail.
- The report can be used by sales and marketing team to formulate their medium- and long-term strategies and to reconfirm their short-term plans.
- The forecast chapter would help the sales team to formulate their medium-term sales plan.
- The report would be help to the sales and the marketing team to understand the key segments across the top ten countries which have been analyzed in the report.
- The Opportunity Analysis chapter identifies the key hot spots within the Global Precision Guided Ammunitions Market.
- The company profiles include financials, latest news, contracts and SWOT for around 10 companies.
Who is this report for?
- Precision Guided Ammunitions Manufacturers: The report would be help to both the Commercial and Defense manufacturers in this market.
- Financial Institutions: The financial institutions like the financial brokers and the banking institutes can use this report to evaluate their funding or investment strategies.
- Department of Defense: The Department of Defense could use this report to understand the import and export trends of the top ten countries. This would give them an overall perspective of potential markets.
- Decision Makers: The future investment and technology focus decisions could be formulated based on the inputs of this report.
- Other Organizations: Various other NGO and Non- Governmental organizations involved with the research of damage caused by Ammunitions can use this report to support their research.