Smart Weapons Market Analysis, Trends and Forecast, 2018-2024

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Smart Weapons Market Analysis, Trends and
Forecast, 2018-2024
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Key Insights Smart Weapons Market

• The smart weapons market is classified into
  projectiles, missiles, guns, and rockets.
  Advancements in technologies along with
  lightweight materials and small-sized weapons are
  boosting the smart weapons market share.
  Increasing adoption of smart weapons including
  small bombs with the capability to be equipped in
  UAVs with the fusion of high-precision sensors
  cameras is providing a positive outlook for
  industry expansion.
• Industry participants are continuously investing
  in RD to develop innovative solutions for
  differentiating their products from the
  competition. The gun allowed the user to store up
  to three biometric fingerprints for preventing
  any unauthorized usage, thereby supporting the
  industry proliferation till 2024.
• Increasing adoption of smart weapons including
  small bombs with the capability to be equipped in
  UAVs with the fusion of high-precision sensors
  cameras is providing a positive outlook for
  industry expansion.

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Continued...

• The smart weapons market size is divided into
  radar-guided, laser-guided, and satellite-guided.
  Advancements in radar technologies including
  improvements in range detection and communication
  capabilities are supporting the segment growth
  over the forecast timeframe. The proliferation of
  laser-guided smart weapons owing to high
  precision and advanced target acquisition
  capabilities is further strengthening the
  industry expansion till 2024.
• Risks and bugs associated with electronics
  technology along with reliability concerns are
  hampering the market growth over the forecast
  timeframe. Higher costs associated with the
  acquisition of these weapons along with complex
  design requirements are further limiting the
  industry growth till 2024.
• Industry participants along with defense
  organizations are continuously investing in the
  RD to develop advanced smart weapons that pass
  stringent military tests, providing a positive
  outlook for the smart weapons market expansion.

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Major Companies in Smart Weapons Market

• Rheinmetall AG
• Raytheon Company
• Orbital ATK
• MBDA, Inc.
• General Dynamics Corporation
• Lockheed Martin
• General Atomics
• Northrop Grumman
• AeroVironment

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Regional Insights in Smart Weapons Market

• North America will contribute significantly
  toward the smart weapons market. This growth is
  attributed to the continuous research testing
  activities by government organizations across the
  region. For instance, in 2016, the U.S.
  government tested the first 350kg smart nuclear
  bomb designed to penetrate underground structures
  that will hit targets with precision and limited
  damage elsewhere.

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