Precision Guided Munition Market Size, Share, and Industry Report, 2028

Global Precision Guided Munition Market Research Report: Forecast (2023-2028)

By Speed (Subsonic, Supersonic, Hypersonic), By Product Type (Tactical Missiles, Guided Rockets, Guided Ammunition, Torpedoes, Loitering Munitions), By Technology (Infrared, Laser, Inertial Navigation... ... Inertial Navigation System [INS], Global Positioning System [GPS], Others), By Mode of Operation (Autonomous, Semi-Autonomous), By Launch Platform (Land, Airborne, Naval), By Region (North America, South America, Europe, The Middle East & Africa, Asia Pacific), By Company (BAE System, General Atomics, Elbit System, General Dynamics Mission Systems, Inc., Northrop Grumman, Lockheed Martin Corporation, Raytheon Technology Corporation, Israel Aerospace Industries, Thales, MBDA, Leonardo S.p.A, Denel Dynamics, Rafael Advanced Defense Systems Ltd., Saab AB, Roketsan, Bharat Dynamics Limited, Others) Read more

Aerospace & Defense
Sep 2023
Pages 199
Report Format: PDF, Excel, PPT

Market Definition

Precision Guided munition (PGM) is defined as an explosive missile, rocket, or bomb that is guided by a seeker control system using a laser guidance beam, a global positioning system (GPS), and an integrated inertial navigation system for highly accurate acquisition of military targets. This includes air & ship-launched missiles, multiple-launched rockets, and guided bombs. PGMs typically use the global positioning system (GPS), laser guidance, or inertial navigation systems to improve a weapon’s accuracy to less than 3 meters. In addition, the increased complexity of air defenses and anti-ship missiles by key global powers has also raised calls for PGMs that could launch from greater distances and operate in denied environments, known as Long Range Precision Fires.

Market Insights & Analysis: Global Precision Guided Munition Market (2023-28):

The Global Precision Guided Munition Market is projected to grow at a CAGR of around 9.56% during the forecast period 2023-28. The market growth imputes rising military modernization, increasing threats, and counter-terrorism operations across the globe. The growing surgical strikes against terrorist hideouts and strongholds drove the demand for Precision Guided Munition.These weapons have been proven to be critical in minimizing the risk to friendly forces while maximizing the impact on enemy targets. Along with this, the armed forces of countries such as the US, China, Russia, India, France, etc., have become reliant on Precision Guided munition (PGMs) to execute military operations, being used in ground, air, and naval operations.

Report Coverage	Details
Study Period	Historical Data: 2018-21
	Base Year: 2022
	Forecast Period: 2023-28
CAGR (2023-2028)	9.56%
Regions Covered	North America: US, Canada, Mexico
	Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
	Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific
	South America: Brazil, Rest of South America
	Middle East & Africa: Saudi Arabia, Israel, Turkey, South Africa, Rest of the Middle East & Africa
Key Companies Profiled	BAE System, General Atomics, Elbit System, General Dynamics Mission Systems, Inc., Northrop Grumman, Lockheed Martin Corporation, Raytheon Technology Corporation, Israel Aerospace Industries, Thales, MBDA, Leonardo S.p.A, Denel Dynamics, Rafael Advanced Defense Systems Ltd., Saab AB, Roketsan, Bharat Dynamics Limited, Others
Unit Denominations	USD Million/Billion

For instance, in 2022, the US military procured approximately 15,000 units of PGMs for around USD 3.8 Billion, and in 2023, they requested nearly 16,600 Munition for around USD 4.4 Billion. The US military's consistent and substantial procurement of PGMs indicates a sustained demand for these Munition. This steady demand encourages manufacturers to scale up production to meet the needs of the military, resulting in increased revenue generation within the PGM industry, further enhancing the Global Precision Munition market size during 2023-2028.

Global Precision Guided Munition Market Research Report (2023-2028) - Table of Contents

Market Segmentation
Introduction
1. Market Definition
2. Research Process
3. Assumptions
Executive Summary
Global Precision Guided Munition Evolution Timeline
Critical Analysis of Top Trends Likely to Shape Precision Guided Munition Market During 2023-2028
1. Geopolitical Trends
2. Military Trends
3. Nuclear Trends
4. Space Trends
5. Cyber Trends
6. Economic Trends
7. Environmental Trends
Global Precision Guided Munition Market Product Trends & Developments
Global Precision Guided Munition Market Dynamics
1. Drivers
2. Challenges
Global Precision- Guided Munitions Market Research & Development Plans, By Country
1. The US
2. China
3. India
4. The UK
5. France
6. Russia
7. Israel
8. Others
Global Precision Guided Munition Market Hotspot & Opportunities
Global Precision Guided Munition Market Regulations, Policies, and Standards
Global Precision Guided Munition Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Speed
    1. Subsonic- Market Size & Forecast 2018-2028, (USD Million)
    2. Supersonic- Market Size & Forecast 2018-2028, (USD Million)
    3. Hypersonic- Market Size & Forecast 2018-2028, (USD Million)
  2. By Product Type
    1. Tactical Missiles- Market Size & Forecast 2018-2028, (USD Million)
      1. Surface-to-surface
      2. Surface-to-air
      3. Air-to-air
      4. Air-to-surface
    2. Guided Rockets- Market Size & Forecast 2018-2028, (USD Million)
      1. Surface-to-surface
      2. Surface-to-air
      3. Air-to-surface
    3. Guided Ammunition- Market Size & Forecast 2018-2028, (USD Million)
      1. Motor
      2. Bomb
      3. Bullets
    4. Torpedoes- Market Size & Forecast 2018-2028, (USD Million)
      1. Surface-to-subsea
      2. Subsea-to-subsea
      3. Air-to-subsea
    5. Loitering Munitions- Market Size & Forecast 2018-2028, (USD Million)
  3. By Technology
    1. Infrared- Market Size & Forecast 2018-2028, (USD Million)
    2. Laser- Market Size & Forecast 2018-2028, (USD Million)
    3. Inertial Navigation System (INS)- Market Size & Forecast 2018-2028, (USD Million)
    4. Global Positioning System (GPS)- Market Size & Forecast 2018-2028, (USD Million)
    5. Others (Radar Homing, Anti-Radiation, etc.)- Market Size & Forecast 2018-2028, (USD Million)
  4. By Mode of Operation
    1. Autonomous- Market Size & Forecast 2018-2028, (USD Million)
    2. Semi-Autonomous- Market Size & Forecast 2018-2028, (USD Million)
  5. By Launch Platform
    1. Land- Market Size & Forecast 2018-2028, (USD Million)
    2. Airborne- Market Size & Forecast 2018-2028, (USD Million)
    3. Naval- Market Size & Forecast 2018-2028, (USD Million)
  6. By Region
    1. North America
    2. South America
    3. Europe
    4. The Middle East & Africa
    5. Asia Pacific
  7. By Company
    1. Market Share
    2. Competition Characteristics
North America Precision Guided Munition Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
  2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
  3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
  4. By Mode of Operation- Market Size & Forecast 2018-2028, (USD Million)
  5. By Launch Platform- Market Size & Forecast 2018-2028, (USD Million)
  6. By Country
    1. The US
    2. Canada
    3. Mexico
3. The US Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
4. Canada Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
5. Mexico Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
South America Precision Guided Munition Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
  2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
  3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
  4. By Mode of Operation- Market Size & Forecast 2018-2028, (USD Million)
  5. By Launch Platform- Market Size & Forecast 2018-2028, (USD Million)
  6. By Country
    1. Brazil
    2. Rest of South America
3. Brazil Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
Europe Precision Guided Munition Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
  2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
  3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
  4. By Mode of Operation- Market Size & Forecast 2018-2028, (USD Million)
  5. By Launch Platform- Market Size & Forecast 2018-2028, (USD Million)
  6. By Country
    1. Germany
    2. The UK
    3. Spain
    4. France
    5. Italy
    6. Rest of the Europe
3. Germany Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
4. The UK Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
5. Spain Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
6. France Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
7. Italy Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
The Middle East & Africa Precision Guided Munition Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
  2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
  3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
  4. By Mode of Operation- Market Size & Forecast 2018-2028, (USD Million)
  5. By Launch Platform- Market Size & Forecast 2018-2028, (USD Million)
  6. By Country
    1. Saudi Arabia
    2. Israel
    3. Turkey
    4. South Africa
    5. Rest of the Middle East & Africa
3. Saudi Arabia Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
4. Israel Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
5. Turkey Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
6. South Africa Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
Asia Pacific Precision Guided Munition Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
  2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
  3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
  4. By Mode of Operation- Market Size & Forecast 2018-2028, (USD Million)
  5. By Launch Platform- Market Size & Forecast 2018-2028, (USD Million)
  6. By Country
    1. China
    2. Japan
    3. India
    4. South Korea
    5. Rest of the Asia Pacific
3. China Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
4. Japan Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
5. India Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
6. South Korea Precision Guided Munition Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Speed- Market Size & Forecast 2018-2028, (USD Million)
    2. By Product Type- Market Size & Forecast 2018-2028, (USD Million)
    3. By Technology- Market Size & Forecast 2018-2028, (USD Million)
Global Precision Guided Munition Market Key Strategic Imperatives for Success & Growth
Competitive Outlook
1. Company Profiles
  1. BAE System
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. General Atomics
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Elbit System
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. General Dynamics Mission Systems, Inc.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. Northrop Grumman
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  6. Lockheed Martin Corporation
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  7. Raytheon Technology Corporation
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  8. Israel Aerospace Industries
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  9. Thales
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  10. MBDA
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  11. Leonardo S.p.A
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  12. Denel Dynamics
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  13. Rafael Advanced Defense Systems Ltd.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  14. Saab AB
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  15. Roketsan
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  16. Bharat Dynamics Limited
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  17. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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