Global Smart Weapons Market: Factors Helping to Maintain Strong Position Globally 2020-2026

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Global Smart Weapons Market Things to Focus on
to Ensure Long-term Success 2020-2026
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Industry Overview

• Accordingly, to Global Market Insights Land-based
  smart weapons market have managed to hold a
  significant portion of overall market share, with
  the segment accounting for almost USD 1.5 billion
  in 2019. Governments have begun to allocate a
  sizable section of their defense budget to
  acquire or develop land-based defense systems and
  smart weapons.estimates that the smart weapons
  market might cross USD 19 billion by the year
  2026.
• Rising cross-border tension between nations and
  changing trade relations is likely to drive new
  demand in smart weapons market over the coming
  years. There has been an increase in cases of
  geopolitical conflicts in recent years,
  especially since the COVID-19 pandemic.
• Rising trade disputes between countries like the
  U.S. and China has led to increasing global
  tension. This has forced countries to increase
  their investments in the defense sector as well
  as on developing advance weapon technologies.

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• Robust advancements have supported the production
  of new navigation systems that enhance a weapons
  operational accuracy. Increasing innovations may
  thereby help drive heavy demand for smart weapons
  market that ensure minimal chances of friendly
  fire and increased accuracy.
• On the regional forefront, Asia Pacific is
  expected to record strong demand for smart
  weapons market, with the region likely to control
  over 20 of global market share by 2026. Growing
  purchase of latest military grade vehicles and
  weapons to showcase overall strength and
  dominance could drive the demand for smart
  ammunitions in APAC.
• Additionally, Asian countries are actively taking
  part in numerous acquisition activities for
  improving air defense systems. Taking November
  2019 for instance, India strengthened its air
  defense arsenal by adding its first Rafael Jet.

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Growth Drivers

• Integration of various connected technologies in
  smart weapons
• Use of multiple communication and navigation
  components
• Rise in defense budget allocation towards
  acquisition of latest munitions
• Increasing indigenous development and
  manufacturing capabilities in APAC

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• Moreover, major smart weapons market players are
  working with federal authorities and defense
  organizations to develop smart munitions. As of
  now, the industry for smart weapons led by
  companies like Aselsan A.S., Airbus Defence
  Space, Diehl Defence, BAE Systems PLC, Hanwha
  Corporation, General Dynamics, Israel Aerospace
  Industries Ltd., L3Harris, Kongsberg Gruppen, JSC
  Concern Vko "Almaz-Antey", Lockheed Martin
  Corporation, Leonardo S.P.A., Northrop Grumman
  Co, MBDA, Raytheon Company, Rafael Advanced
  Defense Systems, Thales Group, The Boeing
  Company, and Rheinmetall AG.

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