Report Code: A11291 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Hypersonic Precision Guided Munition Market
Request Now !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:
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.
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.
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Questions answered in the hypersonic precision guided munition market research report:
Hypersonic Precision Guided Munition Market Report Highlights
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Key Market Players | Northrop Grumman Corporation, BAE Systems, MBDA, General Dynamics Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Saab AB, Raytheon Technologies Corporation, Boeing., Elbit Systems Ltd., KONGSBERG |
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