Precision Guided Munition Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The precision guided munition market size reached around USD 36.73 Billion in 2024. The market is projected to grow at a CAGR of 8.20% between 2025 and 2034 to reach nearly USD 80.78 Billion by 2034.

Market Segmentation

Precision guided munitions refer to a shell fitted with a missile, bombing or artillery terminal guidance device. It requires electrical equipment to direct the final stage until impact. Due to the remote laws of the cube that minimize the harmful impact of explosive weapons with distance, even minor precision changes allow an object to be targeted with fewer or smaller explosives.

Based on speed, the market can be divided into:

• Hypersonic
• Non-Hypersonic

The products can be divided into:

• Tactical Missiles
• Guided Rockets
• Guided Ammunition
• Loitering Munition

The market can be broadly categorised based on technology into:

• Infrared
• Semi-Active Lasers
• Inertial Navigation System (INS)
• Global Positioning System (GPS)
• Radar Homing
• Anti-Radiation
• Others

Based on type, the market is categorised into:

• Autonomous
• Semi-Autonomous

The EMR report looks into the regional markets of precision guided munition like:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Analysis

The rising demand for highly accurate strike ammunition , increased asymmetric warfare, geopolitical tensions, and the rising number of programmes are some of the main drivers of the expansion of the guided precise munitions industry. Most countries focus on increasing their R&D budgets and introducing projects to create the next-generation lightweight, compact, and effective precision weapons. The increasing use of satellite, navigational and drone networks to kill high-value, long-range targets, and the demand for miniature weapons are the key factors that fuel the demand for precision-guided munitions. Autonomous precision-guided munitions are equipped with high-resolution, electro-optical cameras, which help to identify as well as guide the car. The growing demand for multi-target accuracy and multi-mission weapons is expected to fuel the market growth during the forecast period. However, such weapons are limited in scope and have extremely complex guidelines that can prevent the global market from growing.

Competitive Landscape

The report presents a detailed analysis of the following key players in the global precision guided munition market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• BAE Systems Plc
• Lockheed Martin Corporation
• Leonardo S.p.A
• Elbit Systems Ltd.
• Hanwha Corporation
• Raytheon Technologies Corporation
• The Boeing Company
• Others

The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
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