Smart Weapons Market Worth $6.1 Billion by 2020

DALLAS, December 12, 2014 /PRNewswire/ --

According to a new market research report the "Smart Weapons Market by Product [Missiles (Anti-Tank, Anti-Aircraft, Standoff), Munitions (Guided Bombs & Target Pods), Guided Projectile (Artillery Shells & Mortar Rounds), Guided Rockets, Precision Guided Firearm)], Technology, Platform & Region - Forecast & Analysis to 2014 - 2020", published by MarketsandMarkets, the global smart weapons market is estimated to be around $3.8 Billion in 2014 and is projected to grow at a CAGR of around 8.21% from 2014 to 2020 to reach $6.1 Billion by 2020.

Browse 76 market data Tables and 60 Figures spread through 172 Pages and in-depth TOC on "Smart Weapons Market".

http://www.marketsandmarkets.com/Market-Reports/smart-weapons-market-1284.html

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The global Smart Weapons Market can be segmented on the basis of products, technology, platform, and geography. The various products covered in this report consist of anti-tank missiles, anti-aircraft missiles, standoff missiles, guided bombs, target pods, guided artillery shells, guided mortar rounds, guided rockets, and precision guided firearm. The various technologies considered in this report are radar, laser, infra-red, microwave, global positioning systems, and other technologies encompassing video guidance systems, terrain mapping systems, and inertial navigation systems.

The need to provide precision fire capabilities to soldiers operating in squad and platoon levels has led to the development of guided projectiles which are being inducted by all major armed forces, globally. The precision effect offered by these projectiles apart from offering a reliable first-shot, first-hit capability, also reduces the logistics burden. The furtherance of technology means that the unit cost of such systems will be further reduce, thus, making it even more attractive and affordable over the forecasted period.

This report provides a deep dive analysis of the global Smart Weapons Market and highlights the key drivers, restraints, and challenges which prevail in the market. It also provides an in-depth insight on the key market and technological trends of this market. A porter's five forces analysis of this market is incorporated in this report along with the opportunity analysis, based on the upcoming products and prospective growth regions for the global Smart Weapons Market.

In this report, a complete geography-wise analysis of the global Smart Weapons Market is also projected, which includes product-level segmentations across North America, Europe, Asia-Pacific, the Middle-East, and the Rest of the World consisting of Latin America & Africa.

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This report also incorporates the competitive landscape of this market based on various developments, contracts, programs, and new product launches for the past five years. The global key market players engaged in manufacturing smart weapons are highlighted in this report along with their product portfolio, recent developments, SWOT analysis, and market revenue analysis for the past three years.

The major companies involved in the manufacturing smart weapons are Raytheon Company (U.S.), The Boeing Company (U.S.), General Dynamics Corporation (U.S.), and Lockheed Martin (U.S.). The market share of these companies is expected to grow in the coming years. The other key players for this market are Alliant Techsystems, Inc. (U.S.), BAE Systems, Plc. (U.K.), Kongsberg Gruppen ASA (Norway), L-3 Communications Holdings (U.S.), MBDA (U.K.), Rafael Advanced Defense Systems Ltd. (Israel), and NORINCO (China).

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