At 5.1% CAGR, precision guided ammunition market size is projected to reach USD…

At 5.1% CAGR, precision guided ammunition market size is projected to reach USD…

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LUTON, Bedfordshire, UK, March 10, 2023 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and advisory arm of Ameliorate Digital Consultancy Private Limited, has completed and published the final copy of the detailed research report on the Precision Guided Munitions Market.

The globe Precision Guided Munitions Market The size is estimated at US$28.92 billion in 2020 and is projected to reach US$45.25 billion by 2029, at a CAGR of 5.1%. The precision guided ammunition market is expected to grow due to the steady increase in defense budgets worldwide and the need for advanced weaponry to deal with modern combat scenarios at national borders. Another important driver of the market is the growing number of conflicts and high defense spending worldwide. Several governments, including those of the US, China, India and Russia, are investing heavily in modernizing their military capabilities, leading more and more arms manufacturers to shift their focus to developing precision-guided ammunition. Nonetheless, the integration of missiles poses a challenge for the growth of the precision-guided munitions market.

Industry Developments

  • In 2021, Boeing received an order from the US Department of Defense for JADM munitions for the US Navy.
  • In 2020, the Air Force Life Cycle Management Center (AFLCMC) awarded a $239.1 million modification contract for 6 lots of StromBreaker to Raytheon Technologies’ RTX Missiles and Defense unit.
  • In 2019, BAE Systems received a US$2.68 billion contract from the US Navy for the indefinite supply and acceptance test of APKWS laser-guided bombs.

Get a full sample PDF copy of the report: (including full TOC, list of tables and figures, and chart)

https://exactitudeconsultancy.com/reports/5124/precision-guided-munitions-market/#request-a-sample

Driver and Limitation Factor:

Increasing demand for precision guided ammunition to minimize collateral damage

The…



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