Guided Ammunition Market - Global Industry, Analysis, Size, Share, Growth, Trends, and Forecasts 2021-2032

Global Guided Ammunition market is estimated to be worth USD 30.4 Billion in 2022 and is projected to grow at a CAGR of 4.8% between 2021 to 2032. The study has considered  the base year as 2022, which estimates the market size of market and the forecast period is 2021 to 2032. The report analyzes and forecasts the market size, in terms of value (USD Million), for the market. The report segments the market and forecasts it by type, by application, and region/country.

The global guided ammunition market has experienced significant growth in recent years. This growth can be attributed to advancements in technology, increased defense budgets, and the need for more accurate and effective munitions. Advances in guidance systems, sensors, and navigation technology have made guided ammunition more accurate and capable of hitting targets with precision. The need for guided ammunition is driven by the requirements of counterterrorism operations and asymmetric warfare, where precision strikes are necessary. Major defense contractors often export guided ammunition to allied and friendly nations, which contributes to the global market's dynamics. Export restrictions and international agreements play a significant role in these sales.

Region wise Comparison:

North America, particularly the United States, plays a significant role in the global guided ammunition market. The U.S. is home to some of the world's largest defense contractors, including companies like Lockheed Martin and Raytheon, which produce a wide range of guided ammunition systems.

Europe has a strong presence in the global guided ammunition market, with several European countries contributing to its production and development. Companies like MBDA (a European missile manufacturer) are prominent players.

Asia is an emerging player in the global guided ammunition market. Countries like China, India, and South Korea have been investing in their domestic defense industries, including the production of guided ammunition.

The Middle East and North Africa region is known for its high demand for guided ammunition due to ongoing conflicts and security concerns. Countries in the region may procure guided ammunition from various sources.

South America has a smaller share of the global guided ammunition market compared to other continents. However, countries like Brazil have their own defense industries, including guided ammunition production capabilities.

Australia and New Zealand maintain relatively small defense industries compared to larger continents. They often procure guided ammunition from allies and participate in international defense projects.

Segmentation:

The Guided Ammunition market is segmented by type, by application, and region/country.

Based on the Type

• Laser
• Radar
• Infrared
• GPS
• Others

Based on Application

• Air
• Naval
• Land

On the basis of region

• North America
• Europe
• Asia Pacific
• South America and
• Middle East and Africa

In 2022, North America is anticipated to dominate the Guided Ammunition market with market revenue of XX USD Million with a registered CAGR of XX%.

Key Players:

The key market players operating in the Guided Ammunition market include

• General Dynamics Corporation
• BAE Systems
• Lockheed Martin
• The Boeing Co.
• Raytheon Company
• Textron, Inc.
• L-3 Communications
• Israel Aerospace Industries
• Northrop Grumman Corporation

Drivers:

Growing defense programs across global
The global guided ammunition market is driven by a combination of geopolitical, technological, and strategic factors that shape the demand for guided munitions. Ongoing regional and international conflicts and rising geopolitical tensions drive the demand for guided ammunition. Nations seek precision munitions to enhance their military capabilities and to maintain a strategic advantage. As countries invest in upgrading their military forces, guided ammunition is an essential component of modernization efforts. The need for advanced, accurate munitions is a significant driver for the market. The increasing focus on minimizing collateral damage in warfare has made precision-guided ammunition highly desirable, especially in conflicts with urban environments or where civilians are at risk.

Opportunity:

Technology Advancements
The global guided ammunition market offers various opportunities for businesses, defense contractors, and governments. These opportunities are driven by evolving military needs, technological advancements, and changes in geopolitical landscapes. Opportunities exist for companies that can develop and provide advanced guidance and control systems for ammunition. Advancements in sensors, GPS, and target acquisition technology are key areas of focus. As many countries embark on military modernization efforts, there is a growing opportunity to supply guided ammunition tailored to the needs of upgraded platforms and equipment. With a growing focus on environmentally friendly ammunition, companies can explore opportunities to develop and supply lead-free, eco-friendly ammunition components and munitions.