Military Smart Weapons Market is Set to Reach $22.32bn in 2016

Wednesday 2 March 2016, Amsterdam

The new report 'Military Smart Weapons Market Report 2016-2026: Top Companies at the Forefront of Radar, GPS/INS, Infrared & Laser Precision Guided Weapons, Munitions, Bombs & Missile Development' indicates that the Military Smart Weapons market is set to reach $22.32bn in 2016. as nations seek to sustain and enhance their capabilities as the probability for symmetric warfare increases.

Freddie Neve, defence industry analyst and the author of the Military Smart Weapons Market Report, commented that:
“Precision-guided weapons have become the main medium by which contemporary warfare is fought. The increasingly taboo nature of civilian casualties, and growing evidence of their contribution towards radicalising terrorists, have created an incredible demand for not only smart weapons, but also modules that can convert ‘dumb bombs’ into highly-accurate weapons. Whilst the military smart weapons market is a maturing market, perceptions of insecurity and geopolitical rivalry amongst a number of nations will provide impetus to both procure precision-guided weapons, and further invest in R&D within this area.”

The 321 page report contains details of 238 contracts plus 247 tables, charts and graphs that utilise visual representation in order to clarify trends and market projections within the Military Smart Weapons market. The study provides a range of forecasts for the period 2016-2026, as well as for five submarket sectors: Radar-Guided, GPS/INS-Guided, Infrared-Guided, Laser-Guided, and Other-Guided Military Smart Weapons. The five submarket forecasts are revealed at the global level and also further segmented for each of the ten leading national markets as well as the ‘Rest of the World'.

In addition, these ten leading national markets are forecasted and analysed over the period 2016-2026. The report also provides profiles and sector revenues for the eight leading companies operating within the smart weapons market, and also includes two exclusive expert interviews with Textron Systems, and Cranfield University providing expert opinion underpinning the analysis.