Smart Weapons Market Size, Analysis, Growth Trends, and Segment Forecasts, 2013 To 2020

Upgradations in the technology of weapons have led to the accessibility and improvement of various kinds of smart weapons. Alteration in warfare’s nature has led to the requirement for smart weapons. The worldwide smart weapons market is worth around USD 3, 600 million in 2013 and is estimated to witness a CAGR of about 8 percent by 2018. The smart weapons market is projected to reach around USD 5, 300 million by 2018. It is highly realistic with a multitude of contributors from the industry contesting each other for contracts. Smart weapons are guided guns that are aimed at specific targets. They reduce collateral injuries with regard to annihilation of civilian properties and non-warfare fatalities. Market Outlook Smart weapons have been able to achieve their aim of striking shifting objects over long distances. They are also referred to as precision guided guns. Fast developing countries are integrating smart weapons in their military forces and establishments. These guns make use of various kinds of control systems to find their targets. Some of the frequently used guidance systems include satellite, laser guidance and TV camera guidance systems. Technological developments in the manufacture of weapons have led to modernization of and accessibility to various kinds of smart weapons. Some of the smart weapons are surface-to-air missiles, ground missiles, guided bombs and direct energy weapons. Rising demand for high accuracy in arms and ammunitions and the growing need to decrease collateral injuries has led to the high implementation of smart weapons. Furthermore, the military expenditures of rising economies, like India and China are being boosted with the intention of upgrading their weapons. This increases the demand for smart weapons all across the globe. Several programs are in the line of progress for technological advancements that are estimated to improve the accuracy of smart weapons. Most of these programs are in the phase of research and development. Hence, these continuing technological developments from vital participants of the smart weapons market provide prospective chances for further development. However, policies of the government, like the Missile Technology Control Regime are acting as hindrances to the expansion of the smart weapons market. Product Overview Product wise, the smart weapons market is divided into electro-magnetic pulse weapons, smart bullets, precision artillery ammunitions, smart bombs, sensor fused weapons and guided missiles. Guided missiles are estimated to lead the smart weapons market. These include surface-to-air and air-to-ground missiles. Guided missile systems have developed from the past till date at a considerable pace and hold a promising future. Regional Outlook On the basis of regions, the smart weapons market is divided into North America, the Middle East, Europe, Asia, Africa and Latin America. North America is estimated to be the biggest regional smart weapons market. It will also dominate the worldwide market in the coming years. This is owing to positive authoritarian conditions and extensive defense resources in the United States of America. For More Information About Smart Weapons Market Research Report Visit - http://www.grandviewresearch.com/industry-analysis/smart-weapons-market

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