Smart Weapons Market Trends, Share Analysis and Future Scope 2034
Smart Weapons Market Growth, Size, Trends Analysis - By Product, By Technology, By Platform - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jul-2025 | Report ID: AERO2514 | Pages: 1 - 256 | Formats*: |
| Category : Aerospace and Defence | |||
Smart Weapons Market Introduction and Overview
According to SPER Market Research, the Global Smart Weapons Market is estimated to reach USD 37.32 billion by 2034 with a CAGR of 6.57%.
The report includes an in-depth analysis of the Global Smart Weapons Market, including market size and trends, product mix, Applications, and supplier analysis. The global market for smart weapons was valued at USD 19.75 billion in 2024 and is projected to experience a compound annual growth rate (CAGR) of 6.57% from 2025 to 2034. The defense budgets of leading global powers are on the rise, which is propelling the advancement of military technologies, including smart weapons. These budget increases facilitate the modernization of military capabilities, address emerging threats, and enhance tactical advantages. Nations are investing in high-precision and network-enabled weaponry to bolster their military strength.
By Technology Insights
The technology sector encompasses laser, radar, GPS, infrared, and wire-guided systems, with radar emerging as the most rapidly expanding field. Radar technology enhances the targeting capabilities of smart weapons by facilitating accurate detection and tracking in challenging environments. It is crucial for systems such as guided missiles and air defense, offering real-time situational awareness. Advanced radar features allow quick processing and tracking of multiple targets. Additionally, improvements in radar technology contribute to better electronic warfare capabilities, making smart weapons more reliable and efficient. The combination of radar with AI further enhances decision-making and response times in combat.
By Platform Insights
The market for smart weapons is divided into air, land, and naval segments, with the land segment holding the largest share in 2024. This growth is driven by the need for advanced military technology in ground-based defense systems, such as precision-guided munitions, smart bombs, and smart artillery. These weapons improve accuracy and effectiveness in combat. The use of AI and machine learning enhances their operational capabilities by allowing real-time decisions based on battlefield information. Smart weapons in land platforms provide a tactical advantage by increasing precision and reducing collateral damage, making them essential in defense operations like counterinsurgency, border security, and engagements in complex terrains.
Regional Insights
North America has emerged as the leader in the global smart weapons market. The region plays a crucial role in this sector, with the United States being the foremost contributor through significant investments in the development of advanced weaponry. The U.S. military emphasizes the integration of precision-guided munitions and smart targeting systems, as evidenced by initiatives such as the Joint Direct Attack Munition (JDAM). The acquisition of network-enabled weapons underscores the military's modernization efforts. Additionally, the growth of the market in this region is further bolstered by investments in counter-UAS technologies and strategic partnerships with defense manufacturers.
Market Competitive Landscape
Key players in the market are making substantial investments in research and development to broaden their product offerings, which will further stimulate growth in the Smart Weapons market. Market participants are also engaging in various strategic initiatives to enhance their presence, with significant developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaborations with other organizations. In order to succeed and maintain competitiveness within a changing market environment, the Smart Weapons sector must deliver economical solutions.
Recent Developments:
- In June 2025: A memorandum of understanding for the production and development of the Precision Strike Missile (PrSM) was signed between Australia and the United States, allowing the Australian Armed Forces to utilize the tactical ballistic missile system employed by the US military.
- February 2025: A joint venture was established between Bharat Electronics Limited (BEL) and Safran Electronics & Defence to produce, tailor, and maintain HAMMER (Highly Agile Modular Munition Extended Range) smart precision-guided air-to-ground munitions in India.
- In November 2023, General Atomics Aeronautical Systems, Inc. (GA-ASI) formed a partnership with the UAE-based EDGE Group to incorporate EDGE's advanced smart weapons into GA-ASI's MQ-9B SkyGuardian Remotely Piloted Aircraft. This partnership, announced during the Dubai Airshow, involves the incorporation of precision-guided munitions (PGM) and guided-glide weapons (GGW) to improve the operational effectiveness of the SkyGuardian.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Product, By Technology, By Platform |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | BAE Systems plc, Elbit Systems Ltd, General Dynamics Corporation, Israel Aerospace Industries Ltd, L3Harris Technologies Inc, Leonardo S.p.A, Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Saab AB. |
Key Topics Covered in the Report
- Global Smart Weapons Market Size (FY’2021-FY’2034)
- Overview of Global Smart Weapons Market
- Segmentation of Global Smart Weapons Market By Product (Missiles, Munitions, Guided Projectiles, Guided Rockets, Precision Guided Firearms)
- Segmentation of Global Smart Weapons Market By Technology (Laser, Radar, GPS, Infrared, Others)
- Segmentation of Global Smart Weapons Market By Platform (Air, Land, Naval)
- Statistical Snap of Global Smart Weapons Market
- Expansion Analysis of Global Smart Weapons Market
- Problems and Obstacles in Global Smart Weapons Market
- Competitive Landscape in the Global Smart Weapons Market
- Details on Current Investment in Global Smart Weapons Market
- Competitive Analysis of Global Smart Weapons Market
- Prominent Players in the Global Smart Weapons Market
- SWOT Analysis of Global Smart Weapons Market
- Global Smart Weapons Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPERs internal database
- 2.1.4. Premium insight from KOLs
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTERs Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
6. Competitive Landscape
- 6.1. Global Smart Weapons Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Smart Weapons Market
7. Global Smart Weapons Market, By Product (USD Million) 2021-2034
- 7.1. Product
- 7.1.1. Anti-tank Missiles & Standoff Missiles
- 7.1.2. Air-to-Air & Air-to–Surface Missile
- 7.1.3. Anti-Ship & Anti-Submarine Missile
- 7.2. Munitions
- 7.2.1. Guided Bombs
- 7.2.2. Target Pods
- 7.3. Guided Projectiles
- 7.3.1. Artillery Shells
- 7.3.2. Mortar Rounds
- 7.4. Guided Rockets
- 7.4.1. Anti-tank & Tactical rockets
- 7.4.2. Air-to-Air & Air-to-Surface
- 7.4.3. Anti-Submarine
- 7.5. Precision Guided Firearms
- 7.5.1. Small Smart Weapons
- 7.5.2. Shoulder Fired Weapons
- 7.5.3. Smart Guns
8. Global Smart Weapons Market, By Technology (USD Million) 2021-2034
- 8.1. Laser
- 8.2. Radar
- 8.2.1. Active Homing
- 8.2.2. Passive Homing
- 8.3. GPS
- 8.4. Infrared
- 8.4.1. IIR Homing
- 8.4.2. IR Homing
- 8.5. Others
9. Global Smart Weapons Market, By Platform (USD Million) 2021-2034
- 9.1. Air
- 9.2. Land
- 9.3. Naval
10. Global Smart Weapons Market, (USD Million) 2021-2034
- 10.1. Global Smart Weapons Market Size and Market Share
11. Global Smart Weapons Market, By Region, (USD Million) 2021-2034
- 11.1. Asia-Pacific
- 11.1.1. Australia
- 11.1.2. China
- 11.1.3. India
- 11.1.4. Japan
- 11.1.5. South Korea
- 11.1.6. Rest of Asia-Pacific
- 11.2. Europe
- 11.2.1. France
- 11.2.2. Germany
- 11.2.3. Italy
- 11.2.4. Spain
- 11.2.5. United Kingdom
- 11.2.6. Rest of Europe
- 11.3. Middle East and Africa
- 11.3.1. Kingdom of Saudi Arabia
- 11.3.2. United Arab Emirates
- 11.3.3. Qatar
- 11.3.4. South Africa
- 11.3.5. Egypt
- 11.3.6. Morocco
- 11.3.7. Nigeria
- 11.3.8. Rest of Middle-East and Africa
- 11.4. North America
- 11.4.1. Canada
- 11.4.2. Mexico
- 11.4.3. United States
- 11.5. Latin America
- 11.5.1. Argentina
- 11.5.2. Brazil
- 11.5.3. Rest of Latin America
12. Company Profile
- 12.1. BAE Systems plc
- 12.1.1. Company details
- 12.1.2. Financial outlook
- 12.1.3. Product summary
- 12.1.4. Recent developments
- 12.2. Elbit Systems Ltd
- 12.2.1. Company details
- 12.2.2. Financial outlook
- 12.2.3. Product summary
- 12.2.4. Recent developments
- 12.3. General Dynamics Corporation
- 12.3.1. Company details
- 12.3.2. Financial outlook
- 12.3.3. Product summary
- 12.3.4. Recent developments
- 12.4. Israel Aerospace Industries Ltd
- 12.4.1. Company details
- 12.4.2. Financial outlook
- 12.4.3. Product summary
- 12.4.4. Recent developments
- 12.5. L3Harris Technologies Inc
- 12.5.1. Company details
- 12.5.2. Financial outlook
- 12.5.3. Product summary
- 12.5.4. Recent developments
- 12.6. Leonardo S.p.A
- 12.6.1. Company details
- 12.6.2. Financial outlook
- 12.6.3. Product summary
- 12.6.4. Recent developments
- 12.7. Lockheed Martin Corporation
- 12.7.1. Company details
- 12.7.2. Financial outlook
- 12.7.3. Product summary
- 12.7.4. Recent developments
- 12.8. MBDA
- 12.8.1. Company details
- 12.8.2. Financial outlook
- 12.8.3. Product summary
- 12.8.4. Recent developments
- 12.9. Northrop Grumman Corporation
- 12.9.1. Company details
- 12.9.2. Financial outlook
- 12.9.3. Product summary
- 12.9.4. Recent developments
- 12.10. Raytheon Technologies Corporation
- 12.10.1. Company details
- 12.10.2. Financial outlook
- 12.10.3. Product summary
- 12.10.4. Recent developments
- 12.11. Rheinmetall AG
- 12.11.1. Company details
- 12.11.2. Financial outlook
- 12.11.3. Product summary
- 12.11.4. Recent developments
- 12.12. Saab AB
- 12.12.1. Company details
- 12.12.2. Financial outlook
- 12.12.3. Product summary
- 12.12.4. Recent developments
- 12.13. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Smart Weapons Market is projected to reach USD 37.32 billion by 2034, growing at a CAGR of 6.57% during the forecast period.
Smart Weapons Market grew in Market size from 2025. The Market is expected to reach USD 37.32 billion by 2034, at a CAGR of 6.57% during the forecast period.
Smart Weapons Market CAGR of 6.57% during the forecast period.
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Smart Weapons Market size is USD 37.32 billion from 2025 to 2034.
Smart Weapons Market is covered By Product, By Technology, By Platform
North America is anticipated to have the highest Market share in the Smart Weapons Market.
BAE Systems plc, Elbit Systems Ltd, General Dynamics Corporation, Israel Aerospace Industries Ltd, L3Harris Technologies Inc, Leonardo S.p.A, Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Saab AB.
The report includes an in-depth analysis of the Global Smart Weapons Market, including market size and trends, product mix, Applications, and supplier analysis
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