DUBLIN--(BUSINESS WIRE)--The "Global Precision Guided Ammunition - Market and Technology Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

Precision Guided Ammunitions are expected to be high in demand as they reduce the extent of destruction of collateral damage and it is, therefore, possible to protect non-combatants during the war. The development of PGMs has to some extent mitigated the difficult moral decisions which militaries had to make during the second world war with respect to carpet bombing. During the gulf war, the casualties suffered by civilians and soldiers due to precision-guided munitions was much lower compared to the previous wars in which the United States was involved.

Over the years, the U.S. military has relied on PGMs to execute ground, air, and naval military operations. PGMs have become ubiquitous in U.S military operations; funding for these weapons has increased dramatically from FY1998. In FY2021, the Department of Defense (DOD) requested approximately USD 4.1 billion for more than 41,337 weapons in 15 programs. DOD projects requested for approximately USD 3.3 billion for 20,456 weapons in FY2022, USD 3.9 billion for 23,306 weapons in FY2023, USD 3.9 billion for 18,376 weapons in FY2024, and USD 3.6 billion for 16,325 weapons in FY2025.

The total Global market for Precision Guided Ammunitions is estimated at around USD 31-32 Billion in 2020 and the market is expected to grow to around USD 67-68 Billion by 2029. The CAGR of the market is accounted for at around 9%. Tactical Missiles are expected to account for around half of the market.

Report Scope

Reasons to Buy

Key Topics Covered

1 Introduction

1.1 Objective

1.2 Market Introduction

1.3 Market Scope

1.4 Methodology

1.5 Scenario-based Forecast

1.6 Who will benefit from this report?

1.6.1 Business Leaders & Business Developers

1.6.2 PGM Professionals

1.6.3 Policy Makers, Budget Planners and Decision Makers

1.6.4 Civil Government Leaders & Planners

1.6.5 Financial analysts, Investors, Consultants

1.7 Language

2 Executive Summary

2.1 Precision Guided Munitions (PGM) Market Trends and Insights

2.2 Top Five Major Findings

2.3 Major Conclusion

2.4 Important Tables and Graphs

3 Current Market Overview of the Global Precision Guided Munitions Market

3.1 Market Overview

3.1.1 Current Market Overview

3.1.2 Precision Weapons and National Security Decision Making

3.1.3 Precision Attack vs Light Infantry

3.2 Types of Precision Guided Munitions

3.2.1 Inertial Guided Weapons

3.2.2 Radio Controlled Weapons

3.2.3 Infrared Guided Electro-optical weapons

3.2.4 Laser Guided Weapons

3.2.5 Radar Guided Weapons

3.2.6 Satellite Guided Weapons

3.2.7 Moving Target Artillery Round (MTAR)

3.2.8 Cannon and Mortar launched guided projectiles

3.3 PGM Components

3.3.1 Seeker or Guidance Unit

3.3.2 Tracker or control Unit

4 Market Technologies

4.1 Precision Guidance Kit - Modernization (PGK-M)

4.2 Guided Small arms

4.3 Advanced Guidance Concepts

4.4 Chip Scale Atomic Clock

4.5 Precision Inertial Navigation System

4.6 Extreme Accuracy Tasked Ordinance (EXACTO)

4.7 Shortwave Advanced Infrared

4.8 Loitering Munition

4.9 Advanced Anti-Radiation Guided Missile

4.10 Massive Ordnance Penetrators (Bunker Busters)

5 Market Trends

5.1 Introduction

5.2 JDAM

5.3 Small Diameter Bomb

5.4 Small Diameter Bomb 2

5.5 AGM-114 Hellfire

5.6 AGM-169 JAGM

5.7 JASSM

5.8 LRASM

5.9 AARGM

5.10 GMLRS

5.11 ATACMS

5.12 PrSM

5.13 Tomahawk

5.14 SM-6

5.15 NSM

5.16 M-982 Excalibur

5.17 Conclusion

5.18 EU Programs

5.18.1 Vulcano

5.18.2 SMArt 155

5.18.3 Katara

6 Market Dynamics

6.1 Drivers

6.1.1 Increased defense spending

6.1.2 Increased global conflicts

6.1.3 Human Rights

6.1.4 Rising asymmetric warfare

6.1.5 Military modernization

6.1.6 Technological Advancements

6.1.7 Indigenous Developments

6.2 Challenges

6.2.1 Integration Issues

6.2.2 High Lifecycle Cost

6.2.3 Training

6.2.4 Rise in electronic warfare

6.3 Restraints

6.3.1 Regulations

6.3.2 High Procurement Cost

7 PEST

7.1 Political

7.2 Economic

7.3 Social

7.4 Technological

8 Porter's Five Forces

8.1 Buyer's Bargaining Power

8.1.1 Buyer switching cost

Excerpt from:

Global Precision Guided Ammunition - Market and Technology Forecast to 2029 - ResearchAndMarkets.com - Business Wire