ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research announces the release of a report titled “Smart Weapons Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.” According to the research report, the global smart weapons market was worth US$34 billion in the year 2012 and is projected to be worth US$66.91 billion by the end of the forecast period in 2019. The report indicates that the worldwide market for smart weapons will register a compounded annual growth rate (CAGR) of 10.3% between 2013 and 2019.
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The smart weapons market can be segmented on the basis of type and geography. By type, smart weapons can be categorized into sensor fused weapons, air-to-ground missiles, precision artillery ammunitions, surface-to-air missiles, direct energy weapons, smart bombs, smart bullets, and electro-magnetic pulse weapons. By geography, the global smart weapons market can be divided into four main regions: North America, Europe, Asia-Pacific, and Rest of the World.
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Among the major types of smart weapons, air-to-ground missiles and surface-to-air missiles led the overall market in 2012, with guided bombs also acquiring a notable share of the global smart weapons market.
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Regionally, North America dominated the global market and is expected to hold its leading position in the coming years. Emerging economies such as India, Japan, and China have immense potential for growth in the field of smart weapons, thereby fueling the Asia-Pacific market. Political unrest in the Middle East is a major factor driving the demand for smart weapons in the region.
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The leading players profiled in the smart weapons market report are Alliant Techsystems Inc., General Dynamics, Raytheon Company, Boeing Company, MBDA Systems, Northrop Grumman, Rheinmetall AG, Bae Systems, Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd, and Textron Defense Systems.
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TMR is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.
