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LONDON, GREATER LONDON, UNITED KINGDOM, June 12, 2025 /EINPresswire.com/ -- What Does The Data On The Smart Weapons Technology Market Size Indicate?
The smart weapons technology market has experienced significant growth in recent years. It is projected to grow from $20.01 billion in 2024 to $21.49 billion in 2025, reflecting a compound annual growth rate CAGR of 7.4%. This growth during the historical period can be attributed to increasing demand for precision-guided weapons, rising focus on reducing friendly fire incidents, growing military engagement in urban warfare, increasing use of real-time data for targeting, and growing reliance on satellite-based navigation systems.
What Is The Anticipated Growth Rate And Market Size Of The Global Smart Weapons Technology Market?
The smart weapons technology market is expected to see strong growth in the next few years. It will grow to $28.43 billion in 2029 at a compound annual growth rate CAGR of 7.3%. The growth in the forecast period can be attributed to rising threats of asymmetric warfare, increasing use of autonomous defense systems, growing demand for integrated battlefield solutions, increasing government focus on border security, growing procurement of advanced weaponry. Major trends in the forecast period include technological advancements in artificial intelligence, innovation in sensor fusion and targeting, investment in research and development, development of hypersonic weapon systems, innovation in electronic countermeasure technologies.
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What Is Driving The Growth Of The Global Smart Weapons Technology Market?
The rising defense budgets are expected to be a major driver for the growth of the smart weapons technology market in the foreseeable future. Defense budgets refer to the number of financial resources a government allocates for maintaining and developing its armed forces and military operations. Rising defense budgets are primarily due to increasing geopolitical tensions, as nations allocate more resources to strengthen military capabilities in response to regional conflicts, strategic rivalries, and threats to national security. Smart weapons technology enhances precision and efficiency in military operations, helping defense budgets by reducing the need for large-scale deployments and minimizing collateral damage-related costs. For instance, in November 2024, according to the Ministry of Defense, a UK-based government department, total defense spending rose by approximately $1.4 billion £1.1 billion compared to 2022-23.
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Who Are The Key Players In The Global Smart Weapons Technology Market?
Major companies operating in the smart weapons technology market include Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corporation, BAE Systems, L3Harris Technologies Inc., Textron Inc, Rheinmetall AG, Elbit Systems Ltd., Israel Aerospace Industries Ltd., MBDA, Diehl Stiftung & Co. KG, Saab AB, General Atomics, Aselsan A.S., Denel SOC Ltd., Thales Group, UVision Air, Rafael Advanced Defense Systems Ltd., Bharat Dynamics Limited
What Are Some Major Trends Witnessed In The Global Smart Weapons Technology Market?
Major companies operating in the smart weapons technology market are focusing on developing innovative solutions such as autonomous systems to improve targeting accuracy and operational efficiency. Autonomous systems are technologies that can operate independently without human intervention, using sensors, AI, and machine learning to make decisions. In military applications, they enable weapons and vehicles to perform tasks such as navigation, targeting, and surveillance autonomously. For instance, in September 2023, MARSS Group, a UK-based technology company, launched the Interceptor-SR, a portable autonomous system designed to counter drones. This innovative system features AI-driven autonomous tracking, thermal sensors, and kinetic neutralization capabilities, enabling it to independently identify and neutralize Class 1 drones. The Interceptor-SR is highly versatile, offering both mounted and dismounted deployment options, making it an effective solution for a range of military operations. Its modular design ensures flexibility and efficiency in combating aerial threats.
How Is The Global Smart Weapons Technology Market Segmented?
The smart weapons technology market covered in this report is segmented –
1 By Product: Missiles, Munitions, Guided Projectiles, Guided Rockets, Guided Firearms, Directed Energy Weapons
2 By Technology: Laser, Infrared, Radar, Global Positioning System GPS, Other Technologies
3 By Platform: Air, Land, Naval
Subsegments:
1 By Missiles: Air-to-Air Missiles, Air-to-Ground Missiles, Surface-to-Air Missiles, Surface-to-Surface Missiles, Anti-Tank Missiles, Anti-Ship Missiles
2 By Munitions: Smart Bombs, Precision-Guided Munitions PGMs, Cluster Munitions, Thermobaric Munitions, Penetrator Warheads
3 By Guided Projectiles: Guided Artillery Shells, Smart Mortars, Extended Range Guided Projectiles, Terminally Guided Projectiles
4 By Guided Rockets: Laser-Guided Rockets, GPS-Guided Rockets, Infrared-Guided Rockets, Semi-Active Radar Guided Rockets
5 By Guided Firearms: Smart Rifles, Laser-Guided Small Arms, Fire-Control System Enabled Firearms, Ballistic Tracking Firearms
6 By Directed Energy Weapons: High Energy Lasers HEL, High Power Microwave HPM Weapons, Particle Beam Weapons, Electromagnetic Railguns
Which Regions Are Covered In The Global Smart Weapons Technology Market Report?
North America was the largest region in the smart weapons technology market in 2024. The regions covered in the smart weapons technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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