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SAN FRANCISCO, July 4, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Smart Weapons – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 17; Released: June 2022
Executive Pool: 12496
Companies: 80 – Players covered include Axon Enterprise, Inc.; BAE Systems plc; Denel SOC Ltd.; General Dynamics Corporation; Israel Aerospace Industries Ltd.; Kongsberg Gruppen ASA; Leonardo S.p.A.; Lockheed Martin Corporation; MBDA France SAS; Nexter Group; NORINCO Group; Northrop Grumman Corporation; QinetiQ Group plc; Rafael Advanced Defense Systems Ltd.; Raytheon Technologies Corporation; Rheinmetall AG; Roketsan A.S.; Safran Electronics & Defense; Textron Inc.; Thales Group; The Boeing Company and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Missiles, Munitions, Guided Firearms, Guided Projectiles, Guided Rockets, Directed Energy Weapons, Other Product Types); Technology (Infrared, GPS, Laser, Radar, Other Technologies); Platform (Land, Air, Naval)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Amid the COVID-19 crisis, the global market for Smart Weapons estimated at US$17.6 Billion in the year 2022, is projected to reach a revised size of US$22.1 Billion by 2026, growing at a CAGR of 5.6% over the analysis period. Missiles, one of the segments analyzed in the report, is projected to grow at a 5.1% CAGR, while growth in the Munitions segment is readjusted to a revised 5.5% CAGR. Gone are the days when battles were fought in battlefields with the country having the biggest infantry coming out as the winner. Front line soldiers have since time immemorial formed the backbone of military strength. Development of early gunpowder technology and gun/arms technologies played important roles in strengthening the infantry. However, since the development of electronics weapons, the role of the infantry has been gradually declining as technology and machines gradually replaced the need for soldiers. Today the global infantry community is facing a huge problem – the danger of obsolesce. For the first time in over 50 years, the infantry and its artillery are being outgunned by electronic warfare technologies and autonomous and remote land-air-naval defense capabilities. As digitalization of military technologies moves ahead at a rapid pace, even manned reconnaissance assets are being superseded in importance by intelligent unmanned assets. The last decade witnessed a slew of decisions across militaries across the world to downsize the infantry. Current infantry brigades remains poorly reoriented to maintain relevance in a future combat environment. Even with the best of training infantry brigade will remain too slow, too dependent on external support, and unable to control large swaths of land compared to machines armed with bleeding-edge technologies like AI, lasers, sensors, radars, among others.
Information technology (IT) has revolutionized military operations making it smarter and more efficient and effective. Information in modern warfare is assuming a critical role. Battlespace awareness; location certainty of enemy vessels, vehicles, and artillery; real-time information acquisition and dissemination are all vitally important for seamless operations, for making precision strike decisions, and optimum engagement of battle equipment. Modern warfare is all about tactical combats based on strategic battle information. All tactical battle units need timely and relevant battlefield information such as place, position, angle and approaching velocity and speed of enemy vehicles and ships. Real-time targeting and strike requires the use of radars which provide visual intelligence. For instance, precision-guided munitions require radar guidance to launch more accurate, lethal and more dispersed attacks. Growing volume of electronic warfare equipment and the resulting decline in the number of critical nodes manned by humans bode well for the growing importance of smart weapons.
Smart weapons therefore make perfect sense amid rapid transition towards digital battlefield and ongoing efforts across countries to shift the attention from expansion of the military towards modernization and quality improvements. The rise of digital battlefield is making it imperative for the military to embrace digital platforms and smart weapons to ensure operational readiness while achieving a new level of combat efficiency. Digitized battlefield remains centric to the idea of Network Centric Warfare (NCW) that represents the modern warfare and entails full integration of various stakeholders, from armed forces and intelligence agencies through to transport and disaster management. The digital battlefield relies heavily on communication and other sophisticated technologies for ensuring real-time availability of data and high situational awareness. The rapidly evolving strategic environment along with operational challenges is creating a pressing need for countries to develop mobile, modern and more responsive forces to maintain national security. Countries need to ensure high lethality required to deal with the enemy and win the war. The modern warfare and increasing use of digital technologies are prompting the military to shift the attention from analog or conventional forces towards a more modern and ready military. The scenario is driving countries to embrace sophisticated options to maintain the capability for dealing with operational and strategic challenges. The continuing shift towards digital battlefield is prompting armed forces to rely heavily on seamless flow of real-time information and smart hardware for desired combat and efficiency.
Defense forces across countries are increasingly implementing digital communications and technologies to support their units and help soldiers in conducting decisive, rapid operations at different tactical and operational levels. The use of digital technologies for acquiring, exchanging and employing information in a timely manner is poised to go a long way in deciding outcome on the digital battlefield. Militaries are anticipated to bet more on situational awareness for the modern warfare. The information is required to be shared across diverse combat teams on ground, in air, in barracks and at sea for faster and informed decisions. The digital battlefield is poised to be influenced by increasing uptake of AI that is extending the military might and superiority beyond the clutches of few countries such as the US, Russia and China. These emerging technologies are anticipated to influence distribution of the military power and allow deployment of smart weapons known for high accuracy. The modern warfare and rise of digital battlefield is indicating the need for countries to shift focus beyond military expansion and embrace modern weapons and technologies. These developments are anticipated to set a perfect stage for broader adoption of smart weapons for modernization of the armed forces. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: ZA@StrategyR.com
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