Global Precision Guided Munition
Market Report
2025
The global Precision-Guided Munitions market will be USD 41.0 billion in 2024. It will show the strongest growth, with a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031. This growth can be attributed to significant investments in indigenous precision-guided munitions.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global precision-guided munition market size will be USD 41.0 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.
2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Precision Guided Munition Market Sales Revenue | $ 41 Billion | 121212 | 121212 | 121212 | 4.5% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Speed |
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Market Split by Product |
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Market Split by Technology |
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Market Split by Mode of Operation |
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Market Split by Launch Platform |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Precision Guided Munition Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The precision-guided munition (PGM) market is experiencing significant growth, driven by the increasing demand for advanced weaponry that enhances accuracy and minimizes collateral damage. PGMs, equipped with advanced navigation and guidance systems, are crucial in modern warfare for achieving precise target engagement. Key drivers include escalating geopolitical tensions, increased defense budgets, and the adoption of advanced technologies such as GPS, laser, and infrared guidance. North America holds a dominant market position due to substantial investments in military modernization programs, while the Asia Pacific region is witnessing rapid growth fueled by rising defense spending and regional conflicts. Major players in the market are focusing on innovation and strategic partnerships to maintain competitive advantage. The PGM market's expansion is further supported by ongoing research and development efforts aimed at enhancing the efficiency and reliability of these munitions in various combat scenarios.
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On April 2023, Elbit Systems Ltd. announced that it had been awarded a $150 million contract to supply an international customer with PULSTM (Precise and Universal Launching Systems) rocket launchers and a bundle of precision-guided long-range rockets. The deal will be completed over a three-year timeframe. The PULS from Elbit Systems is a complete and cost-efficient solution that can launch unguided rockets, precision-guided munitions, and missiles with effective ranges of up to 300 kilometers. (Source: https://www.prnewswire.com/news-releases/elbit-systems-awarded-150-million-contract-to-supply-puls-rocket-artillery-systems-to-an-international-customer-301879354.html)
Top Companies Market Share in Precision Guided Munition Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America emerged as the dominant region in the Precision Guided Munition market due to substantial investments in defense modernization programs and the presence of key industry players. The U.S. government’s focus on enhancing precision strike capabilities and the integration of advanced technologies in munitions systems are key factors propelling market growth in the region.
Asia Pacific region is the fastest-growing market for PGMs, fueled by rising geopolitical tensions and the need for advanced defense systems. Countries like China and India are significantly increasing their defense expenditures, investing heavily in modernizing their military arsenals. The region’s rapid economic growth also supports increased defense budgets, further driving the demand for PGMs.
The current report Scope analyzes Precision Guided Munition Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Precision Guided Munition Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Precision Guided Munition Industry growth. Precision Guided Munition market has been segmented with the help of its Speed, Product Technology, and others. Precision Guided Munition market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to cognitive market research, Subsonic is the dominant category. Subsonic PGMs are characterized by their ability to travel at speeds less than the speed of sound, which enhances their stealth capabilities, making them less detectable by enemy radar and defense systems. This segment benefits from advancements in guidance systems, such as GPS and laser guidance, ensuring high precision and effectiveness in targeting. The increasing demand for cost-effective, reliable, and accurate munitions in modern warfare drives the adoption of subsonic PGMs.
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This report provides a comprehensive forecast of revenue growth for the Precision Guided Munition industry at the global, regional, and country levels, from 2019 to 2031. It includes a detailed analysis of the latest industry trends and identifies key opportunities for each Product segment of machinery and equipment. The analysis covers demand across various end-use industries, such as automotive, HVAC, construction, energy, and others. By examining these application segments, the report helps stakeholders understand the factors driving growth in specific sectors and identify high-potential areas for investment and innovation. To perform a thorough Product segment analysis, the report considers several key factors. These include industry-specific demand patterns, technological advancements in machinery, and regional growth trends that influence specific applications. Additional factors such as regulatory requirements, supply chain dynamics, end-user preferences, and market competition are also examined to assess how they impact the adoption and performance of machinery in different sectors. The analysis further includes confidential insights like value chain evaluation, patent trends, and company performance metrics (through a Company Evaluation Quadrant), providing a complete view of each application’s evolution within the machinery and equipment market. (Report will provide you with customized data, and detailed insight on purchase of paid version of the report)
Some of the key Product of Precision Guided Munition are:
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Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Precision Guided Munition Market is witnessing significant growth in the near future.
In 2023, the Subsonic segment accounted for noticeable share of global Precision Guided Munition Market and is projected to experience significant growth in the near future.
The Tactical Missiles segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Lockheed Martin , Atlas Elektronik and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Speed | Subsonic, Supersonic, Hypersonic |
Product | Tactical Missiles, Guided Rockets, Guided Ammunition, Torpedoes, Loitering Munitions |
Technology | Infrared, Laser, Inertial Navigation System (INS), Global Positioning System (GPS), Radar Homing, Anti-radiation |
Mode of Operation | Autonomous, Semi-autonomous |
Launch Platform | Land, Airborne, Naval |
List of Competitors | Lockheed Martin, BAE Systems, Atlas Elektronik, Saab AB, Thales Group, Elbit Systems, KONGSBERG, Raytheon Technologies, Boeing, General Dynamics Corporation, Northrop Grumman Corporation, Israel Aerospace Industries Ltd., L3 Technologies Inc., Hanwha Group |
This chapter will help you gain GLOBAL Market Analysis of Precision Guided Munition. Further deep in this chapter, you will be able to review Global Precision Guided Munition Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Precision Guided Munition. Further deep in this chapter, you will be able to review North America Precision Guided Munition Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Precision Guided Munition. Further deep in this chapter, you will be able to review Europe Precision Guided Munition Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Precision Guided Munition. Further deep in this chapter, you will be able to review Asia Pacific Precision Guided Munition Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Precision Guided Munition. Further deep in this chapter, you will be able to review South America Precision Guided Munition Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Precision Guided Munition. Further deep in this chapter, you will be able to review Middle East Precision Guided Munition Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Precision Guided Munition. Further deep in this chapter, you will be able to review Middle East Precision Guided Munition Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Precision Guided Munition. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Speed Analysis 2019 -2031, will provide market size split by Speed. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Speed Analysis 2021 - 2033
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Chapter 11 Market Split by Product Analysis 2021 - 2033
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Chapter 12 Market Split by Technology Analysis 2021 - 2033
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Chapter 13 Market Split by Mode of Operation Analysis 2021 - 2033
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Chapter 14 Market Split by Launch Platform Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Precision Guided Munition market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 16 Research Methodology and Sources
Why Subsonic have a significant impact on Precision Guided Munition market? |
What are the key factors affecting the Subsonic and Supersonic of Precision Guided Munition Market? |
What is the CAGR/Growth Rate of Tactical Missiles during the forecast period? |
By type, which segment accounted for largest share of the global Precision Guided Munition Market? |
Which region is expected to dominate the global Precision Guided Munition Market within the forecast period? |
Segmentation Level Customization |
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Country level Data Customization |
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Company Level |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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