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5. September 2025

Precision Guided Munition Market Forecast 2028 with Charts, Data Visuals & Insights

Precision Guided Munition Market Size & Insights

The Global Precision Guided Munition Market is projected to grow at a CAGR of around 9.56% during the forecast period 2023-28.

The Precision Guided Munition Market is significantly growing due to several growth factors, including the rapidly growing gaming industry, the rising demand for electronic devices, including TVs, smartphones, monitors, wearables, etc., the infrastructural development & expansion of production facilities, and the integration of artificial intelligence in Precision Guided Munition.

What are the Key DROs in the Precision Guided Munition Market?

Advancing Military Modernization Ignites Precision Guided Munition Demand – During the historical years, military modernization drove the adoption of Precision Guided Munition by addressing the need for accuracy, flexibility, reduced collateral damage, and enhanced strategic capabilities. As armed forces worldwide seek to upgrade their arsenals and adapt to evolving security challenges, the requirement for Precision Guided Munition remains a vital factor in elevating the market size during the historical years. In addition, rising flexibilities in the mission profiles involve the development of multi-role platforms and weapons.

These weapons could be integrated across different types of platforms such as aircraft, naval vessels, and ground vehicles, allowing armed forces to adapt to various mission profiles without needing specialized Munition for each scenario, which is further expected to escalate the market share in the forthcoming years.

What are the Key Segments in the Precision Guided Munition Market?

The Precision Guided Munition is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

-By Speed

Subsonic- Market Size & Forecast 2018-2028, (USD Million)
Supersonic- Market Size & Forecast 2018-2028, (USD Million)
Hypersonic- Market Size & Forecast 2018-2028, (USD Million)

-By Mode of Operation

Autonomous- Market Size & Forecast 2018-2028, (USD Million)
Semi-Autonomous- Market Size & Forecast 2018-2028, (USD Million)

-By Launch Platform

Land- Market Size & Forecast 2018-2028, (USD Million)
Airborne- Market Size & Forecast 2018-2028, (USD Million)
Naval- Market Size & Forecast 2018-2028, (USD Million)

-By Product Type

Tactical Missiles
Guided Rockets
Guided Ammunition
Torpedoes
Loitering Munition

Tactical missiles are at the forefront of Precision Munition, offering unparalleled accuracy and target engagement capabilities.

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-By Technology

Infrared
Laser
Inertial Navigation System (INS)
Global Positioning System (GPS)
Others (Radar Homing, Anti-Radiation, etc.)

Based on Technology, the Global Positioning System (GPS) acquired a major market share in the Global Precision Munition Market during the historical period, owing to the massive expansion of precision munition inventories and the introduction of relatively inexpensive and highly accurate guidance systems across the globe.

How does geographical analysis highlight in the Europe Tire market?

-By Region

North America
South America
Europe
The Middle East & Africa
Asia Pacific

North America region is expected to witness significant growth in the Global Precision Guided Munition Market in the upcoming years.

Who are the Key Players in Precision Guided Munition Market?

BAE System
General Atomics
Elbit System
General Dynamics Mission Systems, Inc.
Northrop Grumman
Lockheed Martin Corporation
Raytheon Technology Corporation
Israel Aerospace Industries
Thales
MBDA
Leonardo S.p.A
Denel Dynamics
Rafael Advanced Defense Systems Ltd.
Saab AB
Roketsan
Bharat Dynamics Limited
Others

Global Precision Guided Munition Industry Recent Development:

In year 2023, the US Army Combat Capabilities Development Command Armaments Center (DEVCOM AC) has awarded BAE Systems with around USD72.5 Million, a three-year contract for continued research & development efforts in the advancement of Precision Guided Munition (PGM) to support the Army’s long-range precision fire modernization efforts.

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Forecasting & Finalization – Predictive modeling and time-series analysis anticipate future market behaviors, presented through insightful reports with charts, graphs, and strategic recommendations.

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Why This MarkNtel Advisors Research Report:

In-depth Market Analysis: Understand trends and dynamics shaping growth.
Segmented Insights: Target specific segments for focused strategies.
Geographical Performance: Assess market opportunities by geographic area.
Emerging Technologies: Discover advancements like AI integration.
Risk Identification: Pinpoint challenges to inform strategic planning.
Future Forecasts: Prepare for market changes with actionable projections.

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