Precision Guided Munition Market Anticipated to Grow at 9.7% CAGR Through 2029: Industry Report

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The Business Research Company's Precision Guided Munition Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, August 14, 2025 /EINPresswire.com/ -- "Get 30% Off All Global Market Reports With Code ONLINE30 – Stay Ahead Of Trade Shifts, Macroeconomic Trends, And Industry Disruptors

How Big Is The Precision Guided Munition Market In 2025?
The market size for precision guided munitions has seen robust growth lately. The future predicts a growth from $39.07 billion in 2024 to $42.86 billion in 2025, presenting a compound annual growth rate (CAGR) of 9.7%. The growth occurring in the historical period was driven by factors such as military modernization, demand for precision, growing defense budgets, technological advances in targeting and guidance systems, escalating global conflicts, and counterterrorism initiatives, along with the need to minimize collateral damage.

There is an anticipation of considerable growth in the precision guided munition market in the near future, reaching a projected worth of $62.03 billion in 2029, translating to a compound annual growth rate (CAGR) of 9.7%. Factors contributing to this growth include the incorporation of artificial intelligence for precision, rise in asymmetric warfare and counter-insurgency, bespoke munitions for mission-specific requirements, growth in unmanned aerial vehicle (uav) warfare, and increased application in maritime and naval tasks. Key trends to monitor during this forecast period encompass smart munitions with advanced target identification, regulatory guidelines for precision munition deployment, integration of electromagnetic and cyber warfare, miniaturization and extended loiter time of munitions, and modular munition systems for multiple-role capabilities.

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What Are The Key Driving Factors For The Growth Of The Precision Guided Munition Market?
The surge in military spending is a significant factor propelling the expansion of the precision-guided munition market. When we talk about the military, we're referring to any nation's armed forces, who are vital for maintaining peace and harmony within that nation. The emphasis in military expenditure is on modernisation initiatives and the escalating demand for precision-guided munitions- an effective tool to reduce unintended damage and increase impact on intended targets. This is spurring the uptake of precision-guided ammunitions. An example would be data from The House of Commons Library, a UK-based library and resource for the lower house of the British Parliament, which states that £54.2 billion ($68.8 billion) was set aside for defence expenditure in the 2023/24 fiscal year. This budget is forecasted to hike to £57.1 billion ($70.74 billion) in 2024/25, marking a 4.5% increase in real terms. As such, the rise in military spending is predicted to catapult the progression of the precision-guided munition market.

Who Are The Key Players In The Precision Guided Munition Industry?
Major players in the Precision Guided Munition Global Market Report 2025 include:
• Northrop Grumman Corporation
• Lockheed Martin Corporation
• The Boeing Company
• BAE Systems plc
• General Dynamics Corporation
• Thales Group
• L3Harris Technologies Inc.
• Leonardo S.p.A.
• Elbit Systems Ltd.
• Saab AB

What Are The Upcoming Trends Of Precision Guided Munition Market In The Globe?
Key players within the precision-guided munition market are honing in on the creation of innovative technological solutions, such as guided high-explosive ammunition, as a way of addressing customer requirements and fortifying their standing in the market. The guided high-explosive ammunition is a type of munition enhanced with precision guidance systems that facilitate targeting and hitting specific points, reducing unintended damage whilst ensuring the accurate and selected delivery of high-explosive payload. For instance, Northrop Grumman Corporation, an aerospace and defense enterprise based in the US, was awarded a contract by the US Navy in October 2023 to progress their newly developed 57mm guided high explosive ammunition. The company plans to test and fine-tune this munition in anticipation of qualification, with plans to employ it with the Mk110 Naval Gun Mount.

What Segments Are Covered In The Precision Guided Munition Market Report?
The precision guided munition market covered in this report is segmented –
1) By Product: Tactical Missiles, Guided Rockets, Guided Ammunition, Torpedoes, Loitering Munitions
2) By Technology: Infrared, Semi Active Laser, Inertial Navigation System (INS), Global Positioning System (GPS), Radar Homing, Anti-Radiation
3) By Launch Platform: Land, Airborne, Naval
4) By Mode of Operation: Semi-Autonomous, Autonomous
5) By Speed: Subsonic, Supersonic, Hypersonic

Subsegments:
1) By Tactical Missiles: Air-to-Ground Missiles, Surface-to-Air Missiles, Anti-Ship Missiles, Anti-Tank Missiles
2) By Guided Rockets: Surface-Launched Rockets, Air-Launched Rockets
3) By Guided Ammunition: Precision-Guided Artillery Shells, Guided Mortar Rounds, Smart Bombs
4) By Torpedoes: Lightweight Torpedoes, Heavyweight Torpedoes
5) By Loitering Munitions: Fixed-Wing Loitering Munitions, Rotary-Wing Loitering Munitions

View the full precision guided munition market report:
https://www.thebusinessresearchcompany.com/report/precision-guided-munition-global-market-report

Which Region Is Expected To Lead The Precision Guided Munition Market By 2025?
In the Precision Guided Munition Global Market Report 2025, Asia-Pacific emerged as the predominant region in 2024. The report predicts growth in this region. The precision-guided munition market report provides a detailed analysis of the following regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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