The
global smart weapons market in terms of demand, restraints,
opportunities, key regional markets, and companies involved.According
to the TMR document, the global smart weapons market is currently
growing at a CAGR of 10.3% from 2013 to 2019. The market was
calculated to be worth US$34 billion in 2012.
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Smart Weapons Market Report with Full TOC at
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The
key driver for the global smart weapons market is the growing need to
possess weapons that are capable of showing high levels of precision
to avoid warfare-related collateral damage. The global smart weapons
market is further boosted by heavy spending on defense in terms of
military resources modernization.The global smart weapons market also
contains navigation systems of greater precision that are being
increasingly incorporated into modern weaponry. This has also fueled
the market growth.Other drivers of the global smart weapons market
include the increasing consumer preference to guided bombs over
conventional bombs.“Guided bombs are highly accurate in comparison
to their conventional counterparts due to the highly advanced
technology used in it,” said a TMR analyst, “and most users
currently possess the capacity to purchase guided bombs, considerably
improving the growth rate of the global smart weapons market.”
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Another
segment of the global smart weapons market that is currently enjoying
high demand is the missile systems segment. Users are beginning to
understand the usefulness of smart weapons in air-to-ground and
surface-to-air missiles. The segment dominated the global smart
weapons market in 2012 in terms of market share.The report provides
segmentation of the global smart weapons market by product type into
sensor-fused weapons, smart guns, electromagnetic pulse weapons,
precision artillery ammunitions, smart missile systems, direct energy
weapons, smart bombs, and smart bullets.From a geographical
standpoint, the report states that North America is the largest
regional segment of the global smart weapons market. The region is
expected to maintain its dominion till the end of the forecast
period.The Asia Pacific region is also expected to show substantial
growth as a consumer of the global smart weapons market. The region
is driven by increasing government efforts towards military resources
modernization, especially in Japan, China, and India.
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Press Release Of Smart Weapons Market
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Another
reason for the growth of the global smart weapons market is the
growing number of conflicts around the world, according to the
report. The large number of virtually endless conflicts in the Middle
East, which include the Yemen War, Islamic unrest, and the Syrian
Civil War, are accelerating the need for defense bodies to
incorporate modern weaponry into their arsenal.
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