The Smart Weapons Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Smart Weapons Global Market Report 2024, The smart water management market size has grown rapidly in recent years. It will grow from $15.13 billion in 2023 to $17.51 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to aging water infrastructure, increased awareness and public demand for efficient water management, increased urbanization and smart city initiatives, rising demand for a significant reduction in loss due to nonrevenue water, increased awareness about water wastage.
The smart water management market size is expected to see rapid growth in the next few years. It will grow to $31.02 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to growing investment in smart cities, increasing adoption of smart water management systems, funding and incentives, climate change impact, remote monitoring and control.. Major trends in the forecast period include artificial intelligence (ai) and machine learning (ml), internet of things (iot) and connectivity, augmented reality (ar) and virtual reality (vr), cloud-based solutions, remote sensing and satellite technology.
The increasing global and regional instability is driving the growth of the smart weapons market. Transnational and regional instability refers to the political instability in neighboring countries. Many countries have adopted smart weapons to protect themselves from rising regional instability and to protect themselves from threats by neighboring countries. For instance, in May 2023, according to a report published by Stockholm International Peace Research Institute, a Sweden-based nonprofit organization supporting the use of digital technology in the academic community, 64 multinational peace operations were carried out in 38 nations and territories worldwide in 2022. This was more procedures performed than in any year over the previous ten years combined. As of the end of 2022, there were 114 984 international personnel serving in multilateral peace operations across the globe, up 2.79 percent from the previous year. Therefore, the increasing transnational and regional instability drives the smart weapons market.
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The smart weapons market covered in this report is segmented –
1) By Type: Air-to-ground Missiles, Surface-to-air Missiles, Smart Bombs, Sensor Fused Weapons, Directed Energy Weapons, Precision Artillery Munitions, Electromagnetic Pulse Weapons, Smart Bullets, Other Smart Weapons
2) By Platform: Air, Naval, Land
3) By Technology: Laser Guidance, Infrared Guidance, Radar Guidance, Satellite Guidance
Increasing strategic partnerships and collaborations is a key trend gaining popularity in the smart weapons market. For instance, in February 2021, German automotive and arms manufacturer Rheinmetall Denel Munition and American aerospace and defense technology company Northrop Grumman signed a ten-year deal to develop ammunition technologies for future artillery operations. By equipping 155mm artillery rounds with an integrated M1156 precision guidance kit, the agreement focuses on precision-guided enhanced range artillery ammunition solutions (PGK).
The smart weapons market report table of contents includes
1. Executive Summary
2. Smart Weapons Market Characteristics
3. Smart Weapons Market Trends And Strategies
4. Smart Weapons Market – Macro Economic Scenario
5. Global Smart Weapons Market Size and Growth
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26. South America Smart Weapons Market
27. Brazil Smart Weapons Market
28. Middle East Smart Weapons Market
29. Africa Smart Weapons Market
30. Smart Weapons Market Competitive Landscape And Company Profiles
Top Major Players:
- Lockheed Martin Corporation
- MBDA Incorporated
- Orbital ATK Inc
- General Dynamics Corporation
- BAE Systems plc
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