Precision has always been recognized as an important attribute of weapon development. Precision guided munition belongs to a category of weapons that can be aimed & directed against a single target. Such weapons rely on external guidance system or their own guidance system. Precision guided munition can be launched from aircrafts, submarines, ships, land vehicles, and even from individual soldiers from the ground. Hypersonic guided missiles have the ability to travel at the speed of more than 5 mac. Countries such as Russia and China have developed varieties of such weapons, whereas USA, India, Japan, and other countries are also developing advance hypersonic precision guided munition.
Covid-19 Scenario analysis:
- Due to COVID-19 situation, the research & development in hypersonic precision guided munition companies across the globe has been hampered due to the declared lockdowns and government restrictions on public gatherings.
- As governments spending shift toward economic recovery due to COVID-19 pandemic, industries may experience reduction in quantity of order for hypersonic precision guided munitions.
- Production rate of hypersonic precision guided munition making companies have been affected adversely due to COVID-19 situation.
- Hypersonic precision guided munition companies facing the temporary operational issues due to the restrictions on site access, imposed by government authorities to contain the spread of virus.
- Post COVID-19, global hypersonic precision guided munition market will witness a significant growth as several countries have either already ordered or planning to procure precision guided munitions for their forces.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increasing demand for hypersonic precision guided munitions to minimize collateral damage, political insurgencies & cross border conflicts, reduction in logistics burden, and growing military modernization programs are some of the major factors that drive the hypersonic precision guided munition market. However, regulations related to arms transfer, high manufacturing & development costs of hypersonic precision guided munitions, and issues related to integration of larger precision guided munition are acting as restraint to the market growth. On the contrary, increasing research & development in precision guided munition firms will contribute further for the growth of global hypersonic precision guided munition market in the future.
Increasing research & development in precision guided munition firms
The requirement to replace & upgrade existing systems such as inertial navigation system (INS), global positioning system (GPS), radar homing, semi-active lasers, and anti-radiation is enabling industries to invest heavily in research & development of precision guided munitions. For instance, in February 2020, India announced its efforts to develop tactical ballistic missiles with a range of 200 km. The missile is being developed by the “Defence Research and Development Organization” (DRDO) of India, and trails of missile system are expected to begin in 2021. Such increase in investments & improving technology is expected to provide significant amount of growth opportunities in the global hypersonic precision munition market.
Key benefits of the report:
- This study presents the analytical depiction of the global hypersonic precision guided munition industries along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hypersonic precision guided munition market share.
- The current market is quantitatively analysed to highlight the global hypersonic precision guided munition market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global hypersonic precision guided munition market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the hypersonic precision guided munition market research report:
- Which are the leading market players active in the hypersonic precision guided munition market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Hypersonic Precision Guided Munition Market Report Highlights
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 Key Market Players | Northrop Grumman Corporation, General Dynamics Corporation, MBDA, Boeing., Israel Aerospace Industries Ltd., Raytheon Technologies Corporation, Elbit Systems Ltd., BAE Systems, Lockheed Martin Corporation, KONGSBERG, Saab AB |
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