Global Smart Weapons Market Identifies Potential Opportunities in Asia Pacific and the Middle East
Market Research, Smart Weapons Market
Rising concerns pertaining to terrorism and military conflicts has compelled the global defense sector to focus on smart weapons. Over the past decade, the nature of warfare has gone through a drastic change. Recent conflicts in the global arena have underlined the need for stand-off surgical strikes and precision attacks. In the current scenario, smart weapons are the need of time. Smart weapons refer to guided ammunitions that hit a specified target with high levels of precision in order to minimize collateral damage.
Smart weapons are increasingly in demand from armed forces and other defense units across the globe, resulting in an impressive boom for the smart weapons industry.
Due to existing conflicts and frequent terror attacks across the globe, many economies are raising their defense budget. The increased budgets are enabling governments to purchase smart weapons instead of conventional weapons, which is adding to the growth of the global smart weapons industry. The accuracy of these weapons, a result of the usage of precise navigation systems, is supplementing the demand for smart weapons across the globe. Rising concerns pertaining to terror attacks in emerging economies are also boosting the demand for these weapons from developing regions, propelling the global smart weapons market.
On the other hand, the impact of international arms trade regulations is a major restraint on the developing smart weapons industry. Additionally, the over-dependency on the U.S. government, the possessor of by far the largest military in the world, is also hindering the growth of this market. However, after implementing dual guidance systems, the global market for smart weapons is presented with potential opportunities for the near future.
The key players in the global smart weapons industry are BAE Systems, Dassault Aviation, Boeing Company, General Dynamics Corporation, MBDS Missile Systems, Lockheed Martin Corporation, Northrop Grumman Corporation, Taser International, Inc., Raytheon Company, and Textron Defense Systems.
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, Smart Weapons Market