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Global Precision Guided Munition Market to be Driven by an increase in the number of military modernisation programs in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Precision Guided Munition Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives in-depth analysis of the global precision guided munition market, assessing the market based on its segments like speed, products, technology, type, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.

Get a Free Sample Report with Table of Contents – https://www.expertmarketresearch.com/reports/precision-guided-munition-market/requestsample

The key highlights of the report include:

Market Overview (2016-2026): –

• Historical Market Size (2020): USD 29 Billion
• Forecast CAGR (2021-2026): 8.2%
• Forecast Market Size (2026): USD 46.5 Billion

The defence industry is benefiting from increased procurement activities of precession guided munitions around the world. Industry players are heavily investing in R&D in order to progress technologically and have innovative solutions. Defense aircraft, avionics, land vehicles, and naval vessels are all benefiting from technological advancements. The defence industry would be driven by increased regional government involvement in order to boost their capacities in order to maintain a global political role. The tactical missiles segment accounted for more than half of the precision guided munition market in 2019 and is expected to rise at an annual pace of about 8% through 2026. Increased acquisition activities and R&D expenditures for the manufacture of these missiles can be due to their high market penetration and significant growth rate.

Industry Definition and Major Segments

A shell equipped with a terminal guidance device for missiles, bombings, or artillery is known as precision guided munitions. It includes electrical equipment to direct before the final stage’s impact. The terminal guidance device is designed to detect emitted or reflected EMR within its field of view (electromagnetic radiation). Since explosive weapons’ harm impacts decrease with distance due to inverse cube regulations, even minor precision changes enable a target to be attacked with fewer or smaller explosives.

Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/precision-guided-munition-market

Based on speed, the market can be divided into:

• Hypersonic

• Non-Hypersonic

The products can be divided into:

• Tactical Missiles

• Guided Rockets

• Guided Ammunition

• Loitering Munition

The market can be broadly categorised based on technology into:

• Infrared

• Semi-Active Lasers

• Inertial Navigation System (INS)

• Global Positioning System (GPS)

• Radar Homing

• Anti-Radiation

• Others

Based on type, the market is categorised into:

• Autonomous

• Semi-Autonomous

Based on region, the market is segmented into:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Market Trends

Some of the primary factors driving the growth of the precision-guided munitions industry are the increasing need for extremely accurate strike ammunition, rising asymmetric warfare, international disputes, and growing military modernization programmes. Many countries are increasing their R&D spending and launching programmes to develop next-generation precision weapons that are lightweight, compact, and reliable. The market for precision guided munitions is being fueled by the the use of satellite networks, navigation aids, and drones to kill high-value, long-range targets, as well as the demand for miniaturised weapons. Autonomous precision guided warheads are equipped with electro-optical and high-resolution cameras to help locate and direct the vehicle to its intended destination. Growing demand for multi-target precision strike, multi-mission weapons is expected to drive market growth over the forecast period. However, the range of these weapons is limited, and their guidance systems are extremely complex, posing a threat to the global market’s development. Throughout the forecast era, Asia Pacific is expected to rise at the fastest pace. The growing demand for precision guided munitions from defence forces in countries such as China, India, Japan, and South Korea has fueled growth in this area. These countries are heavily investing in the production of high-precision munitions.

Key Market Player

The major players in the market are BAE Systems Plc, Lockheed Martin Corporation (NYSE: LMT), Raytheon Company, Leonardo S.p.A, Elbit Systems Ltd, Saab AB, The Boeing Company, Hanwha Corp., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

We also provide state-of-the-art procurement intelligence through our platform, https://www.procurementresource.com. Procurement Resource is a leading platform for digital procurement solutions, offering daily price tracking, market intelligence, supply chain intelligence, procurement analytics, and category insights through our thoroughly researched and infallible market reports, production cost reports, price analysis, and benchmarking.

Informes de Expertos (https://www.informesdeexpertos.com), the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.

Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

Explore our services: Procurement Research

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Content SourceContact Information:

Company Name: EMR Inc.
Contact Person: Matt Johnson, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
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