Precision-Guided Munition (PGM) Market - Trends Forecast Till 2028

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Precision-Guided Munition (PGM) Market A Look
Ahead with a 5.9 CAGR from 2023 to 2028.
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Precision-Guided Munition (PGM) Market - Trends
Forecast Till 2028
The Precision-Guided Munition (PGM) Market
research market report is the outcome of
persistent efforts led by knowledgeable
forecasters, innovative analysts, and brilliant
researchers who carry out detailed and diligent
research on different markets, trends, and
emerging opportunities in the consecutive
direction for the business needs. Systematic
investment analysis is also underlined in this
report which forecasts impending opportunities
for the market players.
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Market Overview
The Precision-Guided Munition (PGM) Market size
is projected to reach a CAGR of 5.9 from 2022 to
2028. A precision-guided munition (PGM, smart
weapon, smart munition, smart bomb) is a guided
munition intended to precisely hit a specific
target, to minimize collateral damage and
increase lethality against intended targets.1
During the First Gulf War guided munitions
accounted for only 9 of weapons fired, but
accounted for 75 of all successful hits. Despite
guided weapons generally being used on more
difficult targets, they were still 35 times more
likely to destroy their targets per weapon
dropped. Consistent increase in defense budget
across the globe and the need for advanced
precision guided munition to counter the modern
combat around the countrys border are some of
the factors that have supported long-term
expansion for Precision-Guided Munition (PGM)
Market.
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Competitive Landscape

• Lockheed Martin Corporation
• BAE Systems Plc.
• Raytheon
• MBDA
• Israel Aerospace Industries
• Elbit Systems Ltd.
• Saab AB
• General Dynamics Corporation
• Northrop Grumman
• Rheinmetall AG
• Leonardo SpA

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Recent Developments

• In 2021, Boeing was awarded a contract by the US
  Department of Defense for JADM munition for the
  US Navy.
• In 2020, The Air Force Life Cycle Management
  Center (AFLCMC) awarded a USD 239.1 million
  modification contract for 6 lots of StromBreaker
  to Raytheon Technologies RTX Missiles and
  Defense unit.

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Reasons to Acquire

• Increase your understanding of the market for
  identifying the best and suitable strategies and
  decisions on the basis of sales or revenue
  fluctuations in terms of volume and value,
  distribution chain analysis, market trends and
  factors
• Gain authentic and granular data access for
  Precision-Guided Munition (PGM) Market so as to
  understand the trends and the factors involved
  behind changing market situations
• Qualitative and quantitative data utilization to
  discover arrays of future growth from the market
  trends of leaders to market visionaries and then
  recognize the significant areas to compete in the
  future
• In-depth analysis of the changing trends of the
  market by visualizing the historic and forecast
  year growth patterns

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Contact Information
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