Smart weapons are usually missiles, rockets and ammunitions equipped with laser, GPS, some camera based system or satellite guided system. Few weapons are smart enough that they can be operated by only few authorized personal and hit only the target and nothing else. They are designed in such a way that they just hit the target with minimal damages to surroundings and avoid freindle casualty. These are ruling the market because of their features and every military personnel wants to include them in their assets.
Hundreds to thousand million dollars are being awarded to the smart weapon designing firms by military and defense forces of various countries. A lot of R&D is also being done in this area to use the right technology for these weapons.
The global smart weapons market is expected to grow at a CAGR of over 6% during the forecast period 2018 - 2023
Key Industry Players: Key vendors operating in the market are Rheinmetall AG, Lockheed Martin, General Atomics, AeroVironment, Northrop Grumman and Boeing amongst others.
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