CHICAGO, August-08, 2019 /Aerospace/ MarketsandMarkets/ 109859417--
Market NEWS: Precision Guided Munition Market is projected to grow from USD 30.0 billion in 2019 to USD 47.5 billion by 2025, at a CAGR of 8.0% from 2019 to 2025.| MarketsandMarkets According to the new market research report "Precision Guided Munition Market by Product (Tactical
Missiles,
Guided
Rockets,
Guided
Ammunition, and Loitering Munition), Technology (Infrared, Semi-active Lasers, Radar Homing, GPS, INS, Anti-radiation), Type, Speed, Region - Global Forecast
to
2025",
MarketsandMarkets™
The
published growing
by military
modernization programs and increasing demand for precision guided munitions to minimize collateral damage are some of the factors expected to drive the growth of the precision guided munition market.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=109859417 "Growing military modernization programs and increasing demand for precision guided munitions are key factors fueling the growth of the precision guided munition market across the globe." Many countries are focusing on increasing their R&D spending & initiate programs for the development of lightweight, portable, and efficient next-generation precision weapons. The increasing use of satellite networks, navigation aids, and drones to destroy high-value and long-distance targets and demand for miniaturized weapons are some of the major factors fueling the demand for precision guided munitions. "Based on type, the autonomous segment of the precision guided munition market is projected to grow at a higher CAGR during the forecast period." Based on type, the autonomous segment of the market is projected to grow at a higher CAGR during the forecast period as compared to the semi-autonomous segment. Autonomous precision guided munitions are equipped with high resolution electro-optical and infrared cameras that help locate and guide the vehicle to the target. The
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