Smart weapons are equipped with radio, infrared, laser, global positioning system and satellite guidance system which gives it extraordinary accuracy. Precision guided weapons are intended to hit the target precisely and reduce the collateral damage and lethality. Smart weapons are operated and assisted by the use of external operating system located at a distant place. Smart weapons system has changed the course of war engagement and its strategies. Cruise missiles use the information from the navigation satellite in order to maintain the proper course and direction during flight. Smart guns have safeguards that allow it to operate only when the authorized person activates it thus reducing the misuse, gun theft and self-harm scenarios. The safeguard features in smart weapons include RFID (Radiofrequency Identification Device) chips, finger print recognition, biometric sensors, mechanical locks and magnetic kit.
The need to provide precision attack capabilities of firing to soldiers operating in the team has pushed the companies in the smart weapons market to make investment in the development of the smart weapons and guided projectiles which are being inducted by the major armed forces globally. The precision effect advantage offered by these smart weapons apart from offering an accurate and reliable first short, quick hit capability, and overall reduces the logistics carrying cost. The logistics and supply chain get precise and concise, for the long term operations.
Smart weapons market provides opportunities to major armed forces in fulfilling the trending and rising requirements of updating and modernizing their capabilities. The nature of warfare has changed drastically, recent conflicts have drawn the need to avoid collative damage and provide the efficient and reliable fire power capability that could change the results of war conflicts and reduced number of war days. These needs are met by the selection of the smart weapons which are increasingly being taken in the inventory of the armed forces. Given the urgent need of such devices the demand is expected to increase during and after the forecasting period. The world smart weapon market is driven by the growth in demand for precision strike weapons and unstable security of countries. However, arms transfer regulations imposed on import and export of smart weapons pose as the major restraint for smart weapon market.
The key players include Raytheon Company (U.S.), L-3 Communications Holdings (U.S.), General Dynamics Corporation (U.S.), Lockheed Martin Corporation (U.S.), Boeing Company (U.S.), Northrop Grumman (U.S.), Airbus Group (Netherlands), United Technologies Corporation (U.S.), Leonardo-Finmeccanica (Italy) and BAE systems (U.K.).
POTENTIAL BENEFITS FOR STAKEHOLDERS:
World Smart Weapons Market Key Segmentation:
The world smart weapons market, segmented on the basis of the type, and geography
KEY MARKET PLAYERS PROFILED
COMPANIES MENTIONED IN THE REPORT
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