- Missile
- Ammunition and Other Products
Smart Naval Weapons Market size was valued at USD 5,487.9 Million in 2023 and is poised to grow at a significant CAGR of 6.5% over 2024-2030. Smart weapons are computer-guided munitions with radio, infrared, laser, global positioning, and satellite guidance systems that provide exceptional accuracy and precision. Smart weapons are precision-guided weapons designed to hit the target precisely while minimizing collateral damage and lethality. External operating systems situated far away in the geographical area are used to operate and assist smart weapons. Smart weapons systems have altered the course of the war and its strategies.
Cruise missiles use navigation satellite data to maintain a proper course and direction during a flight. Smart guns have safeguards that allow them to be used only when activated by an authorized person, reducing the possibility of misuse, gun theft, and self-harm. RFID (Radiofrequency Identification Device) chips, fingerprint recognition, biometric sensors, mechanical locks, and magnetic kits are all safety features in smart weapons.
Based on the Type, the global smart naval weapons market is segmented into Missiles, Ammunition, and Other Products. The Missile segment is anticipated to grow at a significant CAGR over the forecast years, owing to defense forces increasing their demand for advanced guided missiles. For example, in September 2019, BAE Systems signed a USD 2,680 million contract with the United States and nine other countries to provide a semi-guided missile weapons system until 2025. Increasing need for precision weapons due to rising warfare activities, increasing terrorist organizations' security threats, and surging defense budgets and procurement of next-generation smart weapons to propel growth.
Smart Naval Weapons Market Key Developments:
- In June 2021, Excavation supplied targeting electro-optical systems for naval remote-controlled stations to the French Navy.
Smart Naval Weapons Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
6.5%
Largest Market
North-America
Fastest Growing Market
Europe
Smart Naval Weapons Market Dynamics
The increasing need for highly precise weapons due to increasing geopolitical conflicts and cross-border issues, among other factors, is driving the global market's growth. The high demand for such weapons stems from their low cost, increased accuracy, versatility, operational range, and short training time. Furthermore, the growing number of military force replenishment and modernization programs is expected to increase demand for these weapons. For example, Raytheon Technologies Corporation signed a USD 110 million modification contract with the US Navy in March 2020 to modernize the radar-guided gun weapon system. The system is expected to aid the US Navy's defense against aircraft and anti-ship missile littoral warfare threats.
North America Got Significant Share
Smart Naval Weapons Market Regional Analysis
The Smart Naval Weapons market in North America will likely hold the highest revenue share in 2021. The same trend is expected over the forecast period due to factors including high government spending on military equipment modernization, R&D by major players to enhance military power, and increased procurements of naval vessels such as frigates, destroyers, and aircraft carriers. For example, in May 2019, Boeing was awarded a USD 139.8 million modification contract to manufacture and supply 12,000 additional precision laser guidance sets for Joint Direct Attack Munition to the US Navy.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Smart Naval Weapons Market Segmentation
By Type
By Technology
- Laser Guidance
- Radar Guidance
- Satellite Guidance
- Infrared Guidance
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Frequently Asked Questions
The Naval Smart Weapons Market will be studied from 2019 - 2030.
North America is growing at the highest CAGR of 6.5% over 2024- 2030.
BAE Systems Plc., General Dynamics Corporation, L3Harris Technologies Inc., Leonardo S.p.A., Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Raytheon, Technologies Corporation, Thales Group, The Boeing Company are the major companies operating in Naval Smart Weapons Market.
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| 1.Executive Summary |
| 2.Global Smart Naval Weapons Market Introduction |
| 2.1.Global Smart Naval Weapons Market - Taxonomy |
| 2.2.Global Smart Naval Weapons Market - Definitions |
| 2.2.1.By Type |
| 2.2.2.By Technology |
| 2.2.3.By Geography |
| 2.2.4.Region |
| 3.Global Smart Naval Weapons Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Smart Naval Weapons Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Smart Naval Weapons Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Missile |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Ammunition and Other Products |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6.Global Smart Naval Weapons Market By Technology, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Laser Guidance |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Radar Guidance |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Satellite Guidance |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Infrared Guidance |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7.Global Smart Naval Weapons Market By Geography, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. MEA |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.Global Smart Naval Weapons Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Smart Naval Weapons Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. By Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Missile |
| 9.1.2.Ammunition and Other Products |
| 9.2. By Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Laser Guidance |
| 9.2.2.Radar Guidance |
| 9.2.3.Satellite Guidance |
| 9.2.4.Infrared Guidance |
| 9.3. By Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.North America |
| 9.3.2.Europe |
| 9.3.3.Asia Pacific |
| 9.3.4.Latin America |
| 9.3.5.MEA |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Smart Naval Weapons Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. By Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Missile |
| 10.1.2.Ammunition and Other Products |
| 10.2. By Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Laser Guidance |
| 10.2.2.Radar Guidance |
| 10.2.3.Satellite Guidance |
| 10.2.4.Infrared Guidance |
| 10.3. By Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.North America |
| 10.3.2.Europe |
| 10.3.3.Asia Pacific |
| 10.3.4.Latin America |
| 10.3.5.MEA |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Smart Naval Weapons Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. By Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Missile |
| 11.1.2.Ammunition and Other Products |
| 11.2. By Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Laser Guidance |
| 11.2.2.Radar Guidance |
| 11.2.3.Satellite Guidance |
| 11.2.4.Infrared Guidance |
| 11.3. By Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.North America |
| 11.3.2.Europe |
| 11.3.3.Asia Pacific |
| 11.3.4.Latin America |
| 11.3.5.MEA |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Smart Naval Weapons Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. By Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Missile |
| 12.1.2.Ammunition and Other Products |
| 12.2. By Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Laser Guidance |
| 12.2.2.Radar Guidance |
| 12.2.3.Satellite Guidance |
| 12.2.4.Infrared Guidance |
| 12.3. By Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.North America |
| 12.3.2.Europe |
| 12.3.3.Asia Pacific |
| 12.3.4.Latin America |
| 12.3.5.MEA |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Smart Naval Weapons Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. By Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Missile |
| 13.1.2.Ammunition and Other Products |
| 13.2. By Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Laser Guidance |
| 13.2.2.Radar Guidance |
| 13.2.3.Satellite Guidance |
| 13.2.4.Infrared Guidance |
| 13.3. By Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.North America |
| 13.3.2.Europe |
| 13.3.3.Asia Pacific |
| 13.3.4.Latin America |
| 13.3.5.MEA |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.BAE Systems Plc. |
| 14.2.2.General Dynamics Corporation |
| 14.2.3.L3Harris Technologies Inc. |
| 14.2.4.Leonardo S.p.A. |
| 14.2.5.Lockheed Martin Corporation |
| 14.2.6.MBDA |
| 14.2.7.Northrop Grumman Corporation |
| 14.2.8.Raytheon Technologies Corporation |
| 14.2.9.Thales Group |
| 14.2.10.The Boeing Company |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
- BAE Systems Plc.
- General Dynamics Corporation
- L3Harris Technologies Inc.
- Leonardo S.p.A.
- Lockheed Martin Corporation
- MBDA
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Thales Group
- The Boeing Company