Published on : Jun 06, 2017
Albany, New York, June 6, 2017: Due to the technological advancements in the weapons sector, there is a significant demand of smart bullets in several countries, such as the U.S., China, and India. Increase in the budget of defense in these countries is one of the major factor fueling the market for the smart bullets, finds a new study broadcasted to the online repository of Market Research Hub (MRH), with a title of “Smart Bullets Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025”. This report presents a comprehensive analysis of the global smart bullets market and offers detailed insights into the market dynamics, such as trends, drivers, restraints and opportunities for the key players, over a 10-year forecast period 2017-2025.
As per the findings, the global market for smart bullets is anticipated to expand at a notable CAGR of 15.20% during the period from 2017 to 2025. At this pace, the market will reach a value of US$955.4 million by the end of the forecast period, which stood at US$270.4 million in 2015. The increase in the investment in defense is one of the major factors driving the market for smart bullets globally. Apart from that, demand for airborne smart bullets is also fuelling the market growth.
In the first part, the report presents an in-depth overview of the smart bullets along with an introduction, key trends analysis, porter’s analysis and market attractiveness. A smart bullet not only follows the route of the target but also sends data, changes its speed and turns accordingly. They are effective against moving objects. Smart bullets show various features such as better lethality with aim point range. Moreover, the report segments the market on the basis of type, end users and geography. By type, it covers guided and self-guided smart bullets. Based on end-users, it includes naval, land and airborne.
Geographically, the worldwide market for smart bullets has been categorized into North America, Latin America, the Middle East and Africa, Asia-Pacific and Europe. Currently, North America holds the maximum share of more than 42% in the market, and also projected to retain its dominance in the near future. March 2017, the Chinese government announced to boost the military spending by 7% which in turn boost the market for the smart bullets in the coming years in Asia Pacific as well as globally.
At last, a competitive landscape analysis is highlighted to provide readers with a dashboard view. Detailed profiles of manufacturers are also along with their company overview, financial strategies, business strategies, key offerings and recent developments in the global smart bullets market. The major companies in the global smart bullets market are The Raytheon Company (United States), Thales Group (France), Harris Corporation (United States), BAE Systems PLC. (United States), Boeing Company (United States), Lockheed Martin Corporation (United States), General Dynamics Corporation (United States), Northrop Grumman Corporation (United States), Taser International, Inc. (United States) and Textron Defense Systems (United States).
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