Market Size of Land-based Smart Weapons Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 7.35 Billion |
| Market Size (2029) | USD 10.55 Billion |
| CAGR (2024 - 2029) | 7.48 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Land-based Smart Weapons Market Analysis
The Land-based Smart Weapons Market size is estimated at USD 7.35 billion in 2024, and is expected to reach USD 10.55 billion by 2029, growing at a CAGR of 7.48% during the forecast period (2024-2029).
The demand for precision and accuracy in targeting enemy assets such as vehicles, buildings, and individuals is fueling the growth of the land-based smart weapons market. This trend can be attributed to the growing geopolitical tensions and political instability worldwide.
The growing military expenditure of major economies is expected to help the armed forces to spend huge amounts for the procurement of advanced terrestrial combat systems and man-portable weapon systems. This is expected to propel the growth of the land-based smart weapons market during the forecast period.
Various government initiatives to indigenously develop and manufacture guided ammunition and missiles and reduce the dependence on foreign technologies are expected to drive the growth of the market studied in the coming years. The increasing investment toward the integration of advanced technologies that will enhance the accuracy and performance of existing missiles and ammunition is also expected to bolster the sales of smart ammunition for land applications in the coming years.
