Global Smart Weapons Market 2017 - Market Will Grow Steadily at a CAGR of More Than 5% by 2021
Latest Research Report titled "Global Smart Weapons Market 2017-2021" features Key Market Players, Market Trends, Market Challenges and Market Drivers.
Albany, NY -- (SBWire) -- 06/12/2017 --This industry research report identifies General Dynamics, Lockheed Martin, MBDA, Orbital ATK, and Raytheon as the key vendors in the global smart weapons market. This industry research report also presents a competitive analysis of the market by platform (aerial, naval, and ground based) and by geography (the Americas, APAC, and EMEA).
Overview of the global smart weapons market
Market research analysts at Technavio predict that the global smart weapons market will grow steadily at a CAGR of more than 5% by 2021. This market research analysis identifies the modernization of global warfare as one of the primary growth factors for this market. The nature of warfare has changed significantly due to the changing economies. The current warfare scenario demands the need for providing adequate support and advanced weaponry to the combatants in addition to controlling collateral damage.
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The increase in anti-extremist missions across the globe and the requirement of adequate defense systems drive the need for smart weapons since these systems provide options for targeting, offer upgraded weapon sights, and improve the impact level of bombs and precision artillery munitions, increasing the lethality of the attack.
The market research report identifies the integration of smart weapons in bomber planes as one of the key trends behind the growth of the smart weapons market. A country with the ability to carry out a long-range strike operation gains military advantage over other countries. Bomber planes are used to drop heavy air-to-surface missiles or bombs on distant enemy targets. However, with the emerging tensions and the need to carry out long-range strike operations, the features of bomber planes requires a significant upgradation. The incorporation of advanced smart weapons will significantly improve the efficiency and combat abilities of bomber planes and also ensures the effectiveness of military operations. Technicians from Boeing and the US Air Force recently installed a prototype of new smart weapons bay launcher in a B-52 bomber plane. This new prototype enabled the bomber plane to internally carry satellite-guided joint direct attack munitions (JDAMs) and also allowed the plane to increase its carrying capacity and make space for eight additional cruise missiles.
Competitive landscape and key vendors
The market is highly-competitive and consists of few global and regional vendors competing to attain the maximum market share. The vendors compete based on factors such as cost, reliability, product quality, and aftermarket service and focus on providing cost-effective and high quality smart weapons to gain a competitive advantage. Vendors must innovate new technologies and launch new products to completely dominate the market and render their competitors products obsolete.
The leading vendors in the market are -
- Lockheed Martin
- Orbital ATK
The other prominent vendors in the market are Boeing, L3 Technologies, Rheinmetall AG, Textron Systems, and Thales Group.
Segmentation by platform and analysis of the smart weapons market
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global smart weapons market?
- What are the key market trends impacting the growth of the global smart weapons market?
- What are the challenges to market growth?
- Who are the key vendors in the global smart weapons market?
- What are the market opportunities and threats faced by the vendors in the global smart weapons market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global smart weapons market?
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