The nature of warfare has changed drastically since 9/11. The battlefield is often urban environments and population centers, and the enemies are tactically innovative, highly networked, and intelligent, which defeats the conventional superiority that the armed forces possess. The latest technological advancements have however provided the capability to face the enemy in an efficient and effective manner. One such advancement is the advent of smart weapons technology.
The Asia-Pacific smart weapons market was recorded at $562.3 million in 2013, and is expected to reach at $965.5 million by 2018. The market has been classified into five main sub-sectors, namely, anti-armor weapons, guided munitions, guided projectiles, guided rockets, and stand-off missiles. Arms transfer regulation can be a major restraint, thereby restricting the growth of this market in the APAC region. The major drivers for this market are the need for precision munitions and the changes in nature of warfare.
Browse through the market data tables, figures and detailed ToC on the “Asia-Pacific Smart Weapons Market.”
Europe Smart Weapons Market
The European smart weapons market was recorded at $758.5 million in 2013, and is expected to reach at $1,067.6 million by 2018. The market has been classified into five main sub-sectors, namely, anti-armor weapons, guided munitions, guided projectiles, guided rockets, and stand-off missiles. Recent defense budget cuts in major countries of Europe can be a major restraint to the growth of this market. The major drivers for this market are the ongoing modernization and replenishment programs and the need to reduce logistics burden.
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