How big is the Naval Smart Weapons Market?

The Naval Smart Weapons Market size is expected to reach USD 8.01 billion in 2024 and grow at a CAGR of 6.32% to reach USD 10.86 billion by 2029. Read More

What is the current Naval Smart Weapons Market size?

In 2024, the Naval Smart Weapons Market size is expected to reach USD 8.01 billion. Read More

Who are the key players in Naval Smart Weapons Market?

Lockheed Martin Corporation, General Dynamics Corporation, BAE Systems plc, Northrop Grumman Corporation and RTX Corporation are the major companies operating in the Naval Smart Weapons Market. Read More

Which is the fastest growing region in Naval Smart Weapons Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Naval Smart Weapons Market?

In 2024, the North America accounts for the largest market share in Naval Smart Weapons Market. Read More

What years does this Naval Smart Weapons Market cover, and what was the market size in 2023?

In 2023, the Naval Smart Weapons Market size was estimated at USD 7.50 billion. The report covers the Naval Smart Weapons Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Naval Smart Weapons Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Naval Smart Weapons Market Size & Share Analysis - Industry Research Report

Naval Smart Weapons Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Naval Smart Weapons Market is Segmented by Weapon Type (Missiles, Ammunition and Other Products), Technology (Laser Guidance, Radar Guidance, Satellite Guidance, Infrared Guidance), and Geography (North America (United States, Canada), Europe (United Kingdom, France, Germany, Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, Rest of Asia-Pacific), and Rest of the World). The Report Offers Market Sizes and Forecasts for all the Above Segments in Value (USD) Terms.

Naval Smart Weapons Industry Overview

The naval smart weapons market is fragmented. Some prominent companies in the market are BAE Systems PLC, Lockheed Martin Corporation, RTX Corporation, Northrop Grumman Corporation, and General Dynamics Corporation.

Many key players have forged enduring partnerships with military entities to bolster battlefield capabilities. Simultaneously, these firms channel significant investments into R&D, focusing on cutting-edge products and technologies to gain a tactical edge over competitors. A prime example is Northrop Grumman Corporation, which, in December 2023, secured a substantial USD 235.7 million contract from the US Navy. The deal encompasses the delivery of 118 AGM-88G Advanced Anti-Radiation Guided Missile-Extended Range (AARGM-ER), with a breakdown of 84 missiles designated for the Navy and 34 for the Air Force, along with additional training and testing components. This contract, including spares, tooling, and test equipment, not only highlights the modernization of navigation kits but also underscores the growth trajectory of these companies.