Smart Weapons Global Market Report 2024

Smart weapons are computer-guided weapons equipped with sensors and guidance systems. These precision-guided weapons are designed to hit targets with high accuracy and precision, and they are often operated remotely, utilizing external operating systems.

The primary types of smart weapons include air-to-ground missiles, surface-to-air missiles, smart bombs, sensor-fused weapons, directed energy weapons, precision artillery munitions, electromagnetic pulse weapons, smart bullets, and various other sophisticated weapons. Air-to-ground missiles are projectiles launched from military aircraft to target ground-based objectives on land or at sea. These smart weapons utilize technologies such as laser guidance, infrared guidance, radar guidance, and satellite guidance. They find applications on various platforms, including air, naval, and land-based systems.

The smart weapons market research report is one of a series of new reports that provides smart weapons market statistics, including smart weapons industry, global smart weapons market size, regional shares, competitors with a smart weapons market share, detailed smart weapons market segments, market trends and opportunities, and any further data you may need to thrive in the smart weapons industry. This smart weapons market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The smart water management market size has grown rapidly in recent years. It will grow from $15.13 billion in 2023 to $17.51 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth observed during the historical period can be attributed to several factors, including the aging water infrastructure, heightened awareness, and public demand for efficient water management, increased urbanization, and the implementation of smart city initiatives.

The smart water management market size is expected to see rapid growth in the next few years. It will grow to $31.02 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The anticipated growth in the forecast period can be attributed to several factors, including the growing investment in smart cities, an increasing adoption of smart water management systems, funding and incentives for water management projects, the impact of climate change, and the implementation of remote monitoring and control technologies. Major trends expected in the forecast period include the integration of artificial intelligence (AI) and machine learning (ML), the utilization of Internet of Things (IoT) and enhanced connectivity, the incorporation of augmented reality (AR) and virtual reality (VR) applications, the implementation of cloud-based solutions, and the utilization of remote sensing and satellite technology for improved water management.

The growth of the smart weapons market is being propelled by increasing global and regional instability. The term transnational and regional instability refers to political unrest in neighboring countries, prompting many nations to adopt smart weapons as a protective measure against growing regional instability and potential threats from neighboring nations. As of May 2023, a report by the Stockholm International Peace Research Institute revealed that there were 64 multinational peace operations conducted in 38 nations and territories worldwide in 2022. This marked a significant increase compared to the past decade. The report also indicated that there were 114,984 international personnel involved in multilateral peace operations globally by the end of 2022, reflecting a 2.79 percent increase from the previous year. Thus, the escalating transnational and regional instability is a driving force for the smart weapons market.

The expected rise in defense budgets is anticipated to further contribute to the growth of the smart weapons market. A defense budget is a financial allocation set by a government to cover military and defense-related expenses. Geopolitical tensions and security concerns worldwide are leading to increased defense budgets in various countries, providing substantial funding for the development and acquisition of smart weapons. According to a report by the Stockholm International Peace Research Institute in April 2023, global military spending experienced a real-term increase of 3.7 percent in 2022, reaching a record high of $2,240 billion. Europe saw a noteworthy 13 percent growth in military expenditure during the year. The United States, contributing 39 percent of the world’s military spending, and China, accounting for 13 percent, remained the top two spenders. This surge in defense budgets is a significant factor driving the growth of the smart weapons market.

A key trend gaining popularity in the smart weapons market is the increasing prevalence of strategic partnerships and collaborations. For instance, in February 2021, German automotive and arms manufacturer Rheinmetall Denel Munition and American aerospace and defense technology company Northrop Grumman entered into a ten-year deal to collaborate on developing ammunition technologies for future artillery operations. The focus of the agreement is on precision-guided enhanced range artillery ammunition solutions (PGK), equipping 155mm artillery rounds with an integrated M1156 precision guidance kit.

Major companies in the smart weapons market are innovating by introducing products with advanced features such as fingerprint and facial recognition. Smart weapons incorporating these features can only be activated and used by authorized individuals whose biometric data matches the stored information. For example, in August 2023, Biofire, a US-based provider of biometrically-authenticated firearms, launched the Biofire Smart Gun. This smart gun includes fingerprint and facial recognition features, allowing only authorized users to discharge the weapon. The system operates as a closed system to ensure the security of user data, with biometric data securely stored on the Smart Gun in an encrypted format. The Biofire Guardian Biometric Engine utilizes cutting-edge capacitive fingerprint identification and 3D infrared facial recognition systems, independently verifying the user's identity before unlocking the firearm.

In September 2023, EDGE Group, a UAE-based defense contractor company, acquired a 50% stake in SIATT for an undisclosed amount. This strategic acquisition enhances EDGE's capabilities in developing intelligent weaponry and cutting-edge systems, focusing on technological advancements in both the UAE and Brazilian markets. SIATT is a Brazil-based company specializing in smart weapons.

Major companies operating in the smart weapons market include Lockheed Martin Corporation, MBDA Incorporated, Orbital ATK Inc., General Dynamics Corporation, BAE Systems plc., The Boeing Company, Textron Inc., Northrop Grumman Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Thales Group, Israel Aerospace Industries Ltd., Denel SOC Ltd., Rafael Advanced Defense Systems Ltd., L3Harris Technologies Inc., Alliant Techsystems Inc., Leonardo-Finmeccanica, Saab AB, Aselsan A.S., Diehl Stiftung & Co. KG, OTO Melara S.P.A, United Technologies Corporation., China Aerospace Science and Industry Corporation Limited., The ExOne Company, Höganäs AB, MTU Aero Engines AG

North America was the largest region in the smart weapons market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the smart weapons market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the smart weapons market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The smart weapons market consists of sales of precision-guided bombs, guided bullets, and smart land mines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.