IMARC Group, a leading market research company, has recently releases report titled “Land-based Smart Weapons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global land-based smart weapons market growth, size, share, trends and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the land-based smart weapons market?

Report Attributes	Details
Market Size in 2022	US$ 4.22 Billion
Market Forecast in 2028	US$ 6.92 Billion
Growth rate (2023 to 2028)	CAGR of 8.3%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is land-based smart weapons?

Land-based smart weapons are advanced military weapons specifically designed for accurate and effective engagement of targets on land equipped with advanced guidance systems and technologies. They are typically deployed on ground-based platforms, such as vehicles or stationary launchers, to execute tactical and strategic missions. They employ laser designation, a global positioning system (GPS), and other advanced guidance technologies to direct guided rockets, missiles, and artillery shells on land. The flight paths of these weapons can often be adjusted in real-time to ensure precise targeting, aim clearly, and avoid obstacles.

Additionally, they enhance mission effectiveness by minimizing collateral damage and reducing risks to personnel. They are also cost-effective compared to other weapon systems, as they can achieve mission objectives with fewer munitions. Owing to these properties, land-based smart weapons are gaining immense traction in urban environments to minimize civilian casualties and infrastructure damage across the globe.

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What are the growth prospects and trends in the land-based smart weapons?

The market is primarily driven by the growing number of security threats from terrorist organizations. In addition, the increasing demand for precision and accuracy in targeting enemy assets due to geopolitical tensions and political unrest across the globe is contributing to market growth. In line with this, the rising development of smart weapons and ammunition and procurement, increasing cross-border conflicts, and pressure to minimize civilian casualties are influencing the market growth. Moreover, continuous technological advancements, including the incorporation of global positioning systems (GPS), artificial intelligence (AI), laser guidance systems, and advanced sensors, are enhancing the flexibility and lethality of these weapons, leading to their wider adoption, thus representing another major growth-inducing factor.

Besides this, various governments are investing, developing and producing guided ammunition and missiles to minimize the dependence on foreign technologies, accelerating the product adoption rate. Along with this, the rising military expenditure for the procurement of advanced terrestrial combat systems, man-portable weapon systems, and upgrading weapon systems are propelling the market growth. Additionally, the rising incidences of insurgency and terrorism resulting in growing security concerns and a significant rise in the international arms trade and military modernization programs are driving the demand for advanced land-based smart weapons. Apart from this, the land-based smart weapons market is growing at different rates in numerous regions, with North America being the largest land-based smart weapons market due to high military expenditure, several technological advancements, rising disposable income, and the implementation of stringent policies about national security. For instance, in December 2021, Defence Research and Development Organisation (DRDO) achieved a successful test launch of the advanced nuclear-capable ballistic missile named Agni Prime from APJ Abdul Kalam Island, located off the coast of Odisha in Balasore.

Additionally, in October 2021, the United States conducted a successful test of hypersonic missile technology, joining China and Russia in deploying this new weapons system. These developments highlight the ongoing advancements in missile technology among various countries. Furthermore, rapid urbanization, increasing disposable income, stringent national security policies, and extensive research and development (R&D) activities are creating the market outlook across the globe.

What is included in market segmentation?

The report has segmented the market into the following categories:

Product Insights: 

• Ammunitions
• Missiles 
• Others

Technology Insights: 

• Satellite Guidance
• Radar Guidance
• Infrared Guidance
• Laser Guidance
• Others

Breakup by Geography:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Aselsan A.S. (Turkish Armed Forces Foundation)
• BAE Systems plc
• Israel Aerospace Industries
• Lockheed Martin Corporation
• MBDA Systems
• Northrop Grumman Corporation
• Rafael Advanced Defense Systems Ltd.
• Raytheon Technologies Corporation
• Safran SA

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