The global smart weapons market is on a steady growth trajectory, driven by technological advancements in weaponry, geopolitical tensions, and increasing defense expenditures by major economies. According to a new report by Univdatos Market Insights, the Global Smart Weapons Market is expected to reach USD 33,765.80 million in 2032, growing at a CAGR of 6.95%.
Meeting Strategic Defense Needs
Since threats have changed, countries are procuring expensive systems including precise guided systems like missiles, guided rockets, and directed energy weapons. These smart weapons are more accurate and hence they minimize the effects on the unintended targets, improving military competency. For instance, Raytheon Technologies received a USD 320 million deal to produce 1,500 StormBreaker, smart weapons, which are air-to-surface, network-enabled weapons that can intercept moving targets in all weather conditions using its multi-effects warhead and tri-mode seeker.
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Additionally, the missile is considered one of the largest segments in the smart weapons market in 2023. Major factors contributing to the growth of the market include increased geopolitical tension and conflicts, depletion of existing stockpiles, technological advancements and modernization, collaborative initiatives, international demand, and production ramp-up and supply chain enhancements.
The modernization of missile technologies like precision guidance, battle management, hypersonic, and artificial intelligence as well as increased connectivity and tactical abilities have made the missiles more capable and sought after. Large capital investments are being made by the likes of Lockheed Martin and Raytheon to embrace more digital revolution, automation, and robotics to satisfy this growing demand. For example, LMX, Lockheed Martin’s digital transformation program is using artificial intelligence and analytics to improve the efficiency and production time of missiles such as PAC-3 MSE.
Moreover, international relations and combined production projects are also acting as major boosters of the missile market. For example, 4 NATO countries namely Germany, Romania, Spain, and the Netherlands are cooperating to acquire 1000 PAC-2 GEM-T missiles Throughput with main production only in Germany. This collective approach assists in getting economic order discounts and guarantees the probable delivery of the missiles in the order of priority.
Furthermore, due to high demand manufacturers have started to increase production and improve their supply chain. For instance, Raytheon manufactures the AIM-9X Sidewinder with production set to rise from 1,400 to 2,500 units annually, and for the Coyote interceptor, the company will increase its production by 250%. Lockheed Martin is also enhancing the ramp rate of GMLRS to 14,000 per year by 2025 and has applied early money for GMLRS PAC-3 MSE annual rates to reach to 650 by 2027.
Expanding Applications Beyond Traditional Warfare
One of the key trends in the smart weapons market is the expanding applications beyond traditional warfare, driven by the advancements in precision technology. The major factor that embraces the market includes counterterrorism operations. Recently these weapons have been employed in the fight against terrorists where the enemy has been neutralized without many losses on the side of the civilian population. For instance, using swarming ground attacking systems or loitering munition also known as ‘suicide drones ‘has been used to prosecute threats that normally would require airstrikes with a high probability of civilian deaths on the ground. These munitions fly over a battlefield searching for a target, they are much more accurate and flexible. Border security is another place where smart weapons have been deployed. Drones armed with AI and smart weapons are being used more and more in employing surveillance activities and intercepting cross-border unlawful activities such as immigration, drug peddling, as well as smuggling. These drones can scan vast territories, and track down, and handle threats on the fly. For instance, the Iron Dome system that was initially deployed in countering short-range rockets is being redesigned for border and vulnerable point defense.
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Smart weapons are also being used in cyber warfare and electronic system warfare (EW). Due to the increasing incidence of cyber-attacks on vital assets, smart weapons integrated with electronic countermeasures are being designed. When it comes to nonlethal engagement, lasers, microwave weapons, or Directed Energy Weapons (DEW), disrupt or burn out opponents’ electronics and communications while leaving hardware, and presumably, the crew intact, which adds a new tactic to strategizing. Finally, in the areas of non-combat, like peacekeeping, smart weapons are gradually being used in subduing outrageous hostiles non-lethally. Smart weapons, that is, non-lethal weapons, such as those capable of temporarily disabling offenders for political riot control and urban police work, are in development.
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Conclusion
Overall, the continuous advancement of AI, drone technology, and cyber capabilities is pushing the boundaries of smart weapons, making them indispensable in both military and non-military settings globally.
Key Offerings of the Report
Market Size, Trends, & Forecast by Revenue | 2024−2032.
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis by Product, by Platform, and by Technology
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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