PORTLAND, ORAGON, UNITED STATES, September 16, 2022 /EINPresswire.com/ — Precision Guided Munitions Market by type (autonomous and semi-autonomous), product (tactical missiles, guided rockets, guided munitions, and loitering munitions), speed (hypersonic, non-hypersonic), and technology (infrared, semi-active laser, inertial navigation system (INS), Global Positioning System (GPS), Radar Tracking, Anti-Radiation and Others): Global Opportunity Analysis and Industry Forecast, 2022-2029
Accuracy has always been recognized as an important attribute of weapons development. Precision-guided munitions belong to a category of weapons that can be aimed and directed at a single target. Such weapons rely on an external guidance system or their own guidance system. Precision-guided munitions can be launched from aircraft, submarines, ships, ground vehicles, and even from the ground by individual soldiers. Air-delivered precision munitions include Hellfire missiles, JAGMs, paveway laser-guided bombs, long-range anti-ship missiles, and more. Ground-launched precision munitions are Army Tactical Missile System (ATACMS), Guided Multiple Rocket Launch System (GMLRS), and Precision Strike Missiles (PrSM). Such systems are being widely adopted and improved by defense forces around the world. For example, in October 2018, the Raytheon Company and Saab AB signed a contract with the US Army to demonstrate a laser-guided munition to be used with the Carl-Gustaf shoulder-portable launcher.
Analysis of the COVID-19 scenario:
Due to the COVID-19 situation, R&D precision-guided munitions companies around the world have been hampered due to declared lockdowns and government restrictions on public gatherings.
As government spending shifts toward economic recovery due to the pandemic, industries may experience a reduction in the number of orders for precision-guided munitions.
The production rate of precision-guided munitions manufacturing companies has been negatively affected due to the COVID-19 situation.
Precision-guided munitions companies are facing temporary operational problems due to restrictions on site access imposed by government authorities to contain the spread of the virus.
Post-COVID-19, the global market for precision-guided munitions will see significant growth as several countries have already ordered or are planning to procure precision-guided munitions for their forces.
Major Impact Factors – Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increasing demand for precision-guided munitions to minimize collateral damage, political insurgencies and cross-border conflicts, reduced logistics burden, and growing military modernization programs are some of the factors driving the guided munitions market precision. However, regulations related to arms transfers and high manufacturing costs are hampering market growth. Increasing R&D in precision guided munitions companies may be an opportunity for future market growth.
Increased R&D in precision-guided munitions companies –
The requirement to replace and upgrade existing systems such as inertial navigation system (INS), global positioning system (GPS), radar location, semi-active lasers and anti-radiation is allowing industries to invest heavily in I +D from Precision Guided Munitions. For example, in February 2020, India announced its efforts to develop tactical ballistic missiles with a range of 200 km. The missile is being developed by India’s “defense research and development organization” (DRDO), with the missile system trails expected to start in 2021. Such increased investments and improved technology will provide a Lots of opportunities in the global precision ammunition market. .
Key benefits of the report:
This study presents the analytical overview of the Precision Guided Munitions industry along with current trends and future estimates to determine imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global Precision Guided Munitions market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario of the global precision-guided munitions market.
Porter’s five forces analysis illustrates the power of buyers and suppliers in the marketplace.
The report provides a detailed analysis of the global Precision Guided Munitions market based on competitive intensity and how the competition will develop in the coming years.
Questions Answered in Precision Guided Munitions Market Research Report:
Who are the key players operating in the Precision Guided Munitions market?
What are the current trends that will influence the market in the coming years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help to take more strategic steps?
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