Future of Global Precision Guided Munition Market: Key Dynamics, Size & Share Analysis

The Precision Guided Munition Market is projected to grow at a CAGR of around 9.56% during the forecast period 2023-28. The market growth imputes rising military modernization, increasing threats, and counter-terrorism operations across the globe. The growing surgical strikes against terrorist hideouts and strongholds drove the demand for Precision Guided Munition. These weapons have been proven to be critical in minimizing the risk to friendly forces while maximizing the impact on enemy targets. Along with this, the armed forces of countries such as the US, China, Russia, India, France, etc., have become reliant on Precision Guided munition (PGMs) to execute military operations, being used in ground, air, and naval operations.

Top Market Challenges Impacting the Autonomous Global Precision Guided Munition Market Growth

Export Restrictions and Limitations on the Transfer of PGM Technology, owing to International Agreements and Sanctions– During 2018-22, export restrictions hindered the global growth of the Precision Guided Munition Market by limiting the reach of manufacturers and preventing them from accessing new markets.

Understanding the Core Segments in the Global Precision Guided Munition Market

By Speed (Subsonic, Supersonic, Hypersonic), By Product Type (Tactical Missiles, Guided Rockets, Guided Ammunition, Torpedoes, Loitering Munitions), By Technology (Infrared, Laser, Inertial Navigation System [INS], Global Positioning System [GPS], Others), By Mode of Operation (Autonomous, Semi-Autonomous), By Launch Platform (Land, Airborne, Naval),

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Geographical Analysis of the Global Precision Guided Munition Market

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

 Who Dominates the Autonomous Global Precision Guided Munition Market Insights on Key Industry Players?

Companies are strengthening their presence in the Precision Guided Munitions market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.

• BAE System
• General Atomics
• Elbit System
• General Dynamics Mission Systems, Inc.
• Northrop Grumman
• Lockheed Martin Corporation
• Raytheon Technology Corporation
• Israel Aerospace Industries
• Thales
• MBDA
• Leonardo S.p.A
• Denel Dynamics
• Rafael Advanced Defense Systems Ltd.
• Saab AB
• Roketsan
• Bharat Dynamics Limited

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