Product Code: 22641
The Global Precision Guided Munition Market will grow from USD 35.80 Billion in 2024 to USD 55.95 Billion by 2030 at a 7.73% CAGR. Precision Guided Munitions (PGMs) are advanced weapon systems incorporating sophisticated guidance and control mechanisms, such as GPS, laser, or infrared sensors, to achieve high-accuracy strikes against predetermined targets with minimal collateral damage. The market for these munitions is primarily driven by escalating global defense budgets, fueled by rising geopolitical tensions and a persistent demand for military modernization programs to enhance strike precision and operational effectiveness.
| Market Overview |
| Forecast Period | 2026-2030 |
| Market Size 2024 | USD 35.80 Billion |
| Market Size 2030 | USD 55.95 Billion |
| CAGR 2025-2030 | 7.73% |
| Fastest Growing Segment | Airborne Launch Platform |
| Largest Market | North America |
Key Market Drivers
The global precision guided munition market is substantially influenced by rising defense budgets and ongoing modernization initiatives worldwide. Nations are consistently increasing their military expenditures to upgrade existing capabilities and acquire advanced weapon systems that offer enhanced strike precision and operational effectiveness.
Key Market Challenges
Stringent export-control regimes present a significant impediment to the expansion of the global Precision Guided Munition market. These complex regulatory frameworks directly restrict the international distribution and accessibility of advanced defense products, including PGMs. Manufacturers face substantial limitations in expanding their market reach as various national and multilateral agreements impose strict controls on sales, re-exports, and technology transfers. Such restrictions necessitate extensive licensing, adherence to compliance procedures, and frequently prohibit sales to specific regions or entities, irrespective of prevailing demand.
Key Market Trends
Advancements in AI-Enabled Target Recognition represent a significant driving factor for the Global Precision Guided Munition Market by enhancing the accuracy and autonomy of strike capabilities. Artificial intelligence algorithms enable munitions to identify, classify, and track targets more effectively across diverse and complex environments, reducing the reliance on human intervention in critical phases of engagement. This capability supports faster decision-making and minimizes potential collateral damage.
Key Market Players
- Lockheed Martin
- Raytheon
- Boeing
- BAE Systems
- Northrop Grumman
- MBDA
- Rafael
- Roketsan
- NORINCO
- Thales
Report Scope:
In this report, the Global Precision Guided Munition Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Precision Guided Munition Market, By Speed:
- Subsonic
- Supersonic
- Hypersonic
Precision Guided Munition Market, By Launch Platform:
Precision Guided Munition Market, By Technology:
Precision Guided Munition Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents in the Global Precision Guided Munition Market.
Available Customizations:
Global Precision Guided Munition Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
- 1.1. Market Definition
- 1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations
2. Research Methodology
- 2.1. Objective of the Study
- 2.2. Baseline Methodology
- 2.3. Key Industry Partners
- 2.4. Major Association and Secondary Sources
- 2.5. Forecasting Methodology
- 2.6. Data Triangulation & Validation
- 2.7. Assumptions and Limitations
3. Executive Summary
- 3.1. Overview of the Market
- 3.2. Overview of Key Market Segmentations
- 3.3. Overview of Key Market Players
- 3.4. Overview of Key Regions/Countries
- 3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. Global Precision Guided Munition Market Outlook
- 5.1. Market Size & Forecast
- 5.2. Market Share & Forecast
- 5.2.1. By Speed (Subsonic, Supersonic, Hypersonic)
- 5.2.2. By Launch Platform (Land, Airborne, Naval)
- 5.2.3. By Technology (Infrared, Inertial)
- 5.2.4. By Region
- 5.2.5. By Company (2024)
- 5.3. Market Map
6. North America Precision Guided Munition Market Outlook
- 6.1. Market Size & Forecast
- 6.2. Market Share & Forecast
- 6.2.1. By Speed
- 6.2.2. By Launch Platform
- 6.2.3. By Technology
- 6.2.4. By Country
- 6.3. North America: Country Analysis
- 6.3.1. United States Precision Guided Munition Market Outlook
- 6.3.1.1. Market Size & Forecast
- 6.3.1.2. Market Share & Forecast
- 6.3.1.2.1. By Speed
- 6.3.1.2.2. By Launch Platform
- 6.3.1.2.3. By Technology
- 6.3.2. Canada Precision Guided Munition Market Outlook
- 6.3.2.1. Market Size & Forecast
- 6.3.2.2. Market Share & Forecast
- 6.3.2.2.1. By Speed
- 6.3.2.2.2. By Launch Platform
- 6.3.2.2.3. By Technology
- 6.3.3. Mexico Precision Guided Munition Market Outlook
- 6.3.3.1. Market Size & Forecast
- 6.3.3.2. Market Share & Forecast
- 6.3.3.2.1. By Speed
- 6.3.3.2.2. By Launch Platform
- 6.3.3.2.3. By Technology
7. Europe Precision Guided Munition Market Outlook
- 7.1. Market Size & Forecast
- 7.2. Market Share & Forecast
- 7.2.1. By Speed
- 7.2.2. By Launch Platform
- 7.2.3. By Technology
- 7.2.4. By Country
- 7.3. Europe: Country Analysis
- 7.3.1. Germany Precision Guided Munition Market Outlook
- 7.3.1.1. Market Size & Forecast
- 7.3.1.2. Market Share & Forecast
- 7.3.1.2.1. By Speed
- 7.3.1.2.2. By Launch Platform
- 7.3.1.2.3. By Technology
- 7.3.2. France Precision Guided Munition Market Outlook
- 7.3.2.1. Market Size & Forecast
- 7.3.2.2. Market Share & Forecast
- 7.3.2.2.1. By Speed
- 7.3.2.2.2. By Launch Platform
- 7.3.2.2.3. By Technology
- 7.3.3. United Kingdom Precision Guided Munition Market Outlook
- 7.3.3.1. Market Size & Forecast
- 7.3.3.2. Market Share & Forecast
- 7.3.3.2.1. By Speed
- 7.3.3.2.2. By Launch Platform
- 7.3.3.2.3. By Technology
- 7.3.4. Italy Precision Guided Munition Market Outlook
- 7.3.4.1. Market Size & Forecast
- 7.3.4.2. Market Share & Forecast
- 7.3.4.2.1. By Speed
- 7.3.4.2.2. By Launch Platform
- 7.3.4.2.3. By Technology
- 7.3.5. Spain Precision Guided Munition Market Outlook
- 7.3.5.1. Market Size & Forecast
- 7.3.5.2. Market Share & Forecast
- 7.3.5.2.1. By Speed
- 7.3.5.2.2. By Launch Platform
- 7.3.5.2.3. By Technology
8. Asia Pacific Precision Guided Munition Market Outlook
- 8.1. Market Size & Forecast
- 8.2. Market Share & Forecast
- 8.2.1. By Speed
- 8.2.2. By Launch Platform
- 8.2.3. By Technology
- 8.2.4. By Country
- 8.3. Asia Pacific: Country Analysis
- 8.3.1. China Precision Guided Munition Market Outlook
- 8.3.1.1. Market Size & Forecast
- 8.3.1.2. Market Share & Forecast
- 8.3.1.2.1. By Speed
- 8.3.1.2.2. By Launch Platform
- 8.3.1.2.3. By Technology
- 8.3.2. India Precision Guided Munition Market Outlook
- 8.3.2.1. Market Size & Forecast
- 8.3.2.2. Market Share & Forecast
- 8.3.2.2.1. By Speed
- 8.3.2.2.2. By Launch Platform
- 8.3.2.2.3. By Technology
- 8.3.3. Japan Precision Guided Munition Market Outlook
- 8.3.3.1. Market Size & Forecast
- 8.3.3.2. Market Share & Forecast
- 8.3.3.2.1. By Speed
- 8.3.3.2.2. By Launch Platform
- 8.3.3.2.3. By Technology
- 8.3.4. South Korea Precision Guided Munition Market Outlook
- 8.3.4.1. Market Size & Forecast
- 8.3.4.2. Market Share & Forecast
- 8.3.4.2.1. By Speed
- 8.3.4.2.2. By Launch Platform
- 8.3.4.2.3. By Technology
- 8.3.5. Australia Precision Guided Munition Market Outlook
- 8.3.5.1. Market Size & Forecast
- 8.3.5.2. Market Share & Forecast
- 8.3.5.2.1. By Speed
- 8.3.5.2.2. By Launch Platform
- 8.3.5.2.3. By Technology
9. Middle East & Africa Precision Guided Munition Market Outlook
- 9.1. Market Size & Forecast
- 9.2. Market Share & Forecast
- 9.2.1. By Speed
- 9.2.2. By Launch Platform
- 9.2.3. By Technology
- 9.2.4. By Country
- 9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Precision Guided Munition Market Outlook
- 9.3.1.1. Market Size & Forecast
- 9.3.1.2. Market Share & Forecast
- 9.3.1.2.1. By Speed
- 9.3.1.2.2. By Launch Platform
- 9.3.1.2.3. By Technology
- 9.3.2. UAE Precision Guided Munition Market Outlook
- 9.3.2.1. Market Size & Forecast
- 9.3.2.2. Market Share & Forecast
- 9.3.2.2.1. By Speed
- 9.3.2.2.2. By Launch Platform
- 9.3.2.2.3. By Technology
- 9.3.3. South Africa Precision Guided Munition Market Outlook
- 9.3.3.1. Market Size & Forecast
- 9.3.3.2. Market Share & Forecast
- 9.3.3.2.1. By Speed
- 9.3.3.2.2. By Launch Platform
- 9.3.3.2.3. By Technology
10. South America Precision Guided Munition Market Outlook
- 10.1. Market Size & Forecast
- 10.2. Market Share & Forecast
- 10.2.1. By Speed
- 10.2.2. By Launch Platform
- 10.2.3. By Technology
- 10.2.4. By Country
- 10.3. South America: Country Analysis
- 10.3.1. Brazil Precision Guided Munition Market Outlook
- 10.3.1.1. Market Size & Forecast
- 10.3.1.2. Market Share & Forecast
- 10.3.1.2.1. By Speed
- 10.3.1.2.2. By Launch Platform
- 10.3.1.2.3. By Technology
- 10.3.2. Colombia Precision Guided Munition Market Outlook
- 10.3.2.1. Market Size & Forecast
- 10.3.2.2. Market Share & Forecast
- 10.3.2.2.1. By Speed
- 10.3.2.2.2. By Launch Platform
- 10.3.2.2.3. By Technology
- 10.3.3. Argentina Precision Guided Munition Market Outlook
- 10.3.3.1. Market Size & Forecast
- 10.3.3.2. Market Share & Forecast
- 10.3.3.2.1. By Speed
- 10.3.3.2.2. By Launch Platform
- 10.3.3.2.3. By Technology
11. Market Dynamics
- 11.1. Drivers
- 11.2. Challenges
12. Market Trends & Developments
- 12.1. Merger & Acquisition (If Any)
- 12.2. Product Launches (If Any)
- 12.3. Recent Developments
13. Global Precision Guided Munition Market: SWOT Analysis
14. Porter's Five Forces Analysis
- 14.1. Competition in the Industry
- 14.2. Potential of New Entrants
- 14.3. Power of Suppliers
- 14.4. Power of Customers
- 14.5. Threat of Substitute Products
15. Competitive Landscape
- 15.1. Lockheed Martin
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
- 15.2. Raytheon
- 15.3. Boeing
- 15.4. BAE Systems
- 15.5. Northrop Grumman
- 15.6. MBDA
- 15.7. Rafael
- 15.8. Roketsan
- 15.9. NORINCO
- 15.10. Thales
16. Strategic Recommendations
17. About Us & Disclaimer