Smart Bullets Market – (2023 to 2029)Global Industry Analysis, Growth, Trends, COVID-19 Impact and Forecasts.

The Smart Bullets Market is expected to grow at a CAGR of 14.8% between 2023 and 2029, the opportunity in the market is valued to increase from US$ 684.12 Mn in 2022 to a value of US$ 1797.7 Mn by the end of 2029.
Smart Bullets Market Overview:
Defense Industry will undergo significant transformation as a result of the Growing Smart Bullets Market across the Globe.The smart bullet is a high-tech bullet with the ability to do much more than just follow its intended path. It also performs functions such as whirling, changing the speed, and conveying data. Thanks to enormous technological advancements, smart bullets are capable of supporting shooters who are seeking to strike targets in heavy gusts. Smart bullets have a variety of advantages, including increased fatality and target range. They're also good at catching moving targets. Snipers can reach their targets in a few kilometers, and even against moving targets, thanks to intelligent bullets. Aerial, land and marine weapons all use intelligent bullets. The smart bullet market is heavily influenced by the global growth of the defensive budget in regions where terrorist activity is on the rise.

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2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis, especially with the impact of lockdown by region.
Smart Bullets Market Dynamics:
The Smart Bullet market is being driven by increasing demand for smart bullets in military organizations, high demand for airborne smart bullets, increasing defense sector investments, technological advancements, and growing economies. Targeting moving objects in difficult conditions, such as dusty terrain, and high-speed wind could stymie the smart bullet market's growth. However, ongoing research activities for highly advanced smart weapons to combat frequent terror attacks, as well as significant investment in remote sensing and defense sensors, are creating prospects for the Smart Bullet market across the globe.

Growing Investments in Military and Smart Weapons across the Globe:

The global share of big military budgets, such as the United States and China's, is expected to increase military spending on these technologies, creating a huge market for specialist smart weapon manufacturers and software developers. The product's penetration would be aided by the rising need for powerful and effective weapons navigation, power, and protection systems. In addition, the growing demand for smart bullets is expected to boost the Smart bullets market in developing countries such as Brazil, India, China, and Argentina. The scenario is expected to persist in the next years, according to researchers, due to rising military and defense spending in emerging economies on the production of smart bullets. Because of various war-like scenarios in nations such as Turkey, Ukraine, France, Afghanistan, Lebanon, China, India, and Pakistan, worldwide smart bullet requirements are expected to rise during the forecast period.

Smart Bullets Market Trends across the Globe:

Traditionally, switching between different types of ammunition is required while committing different targets. The FUSE3P smart bullet, designed by BAE Systems, is configured automatically and individually by a Proximity Fuse Programmer, which receives data from the Fire Control Computer System on a regular basis. Just before it is shot, the fuse is mapped to the selected mode. Traditional threats, especially those with armor protection, such as anti-ship missiles, planes, ships, and shore targets, are handled better. In addition, BAE Systems' Hypervelocity Projectile (HVP) is a common, low-drag, next-generation guided projectile capable of performing numerous missions for a variety of gun systems. It is being developed for the United States and its allies. This projectile will improve the lethality and performance of present and future gun systems.

Growing terrorism across the globe:

Despite the fact that the number of terrorist activities across the globe has increased to 5,226 in 2022, deaths decreased by 1.2%. The crisis in Ukraine is expected to fuel an increase in traditional and cyber terrorism, erasing recent gains in the region. Terrorism in the West has decreased significantly, with attacks down 68%. The United States scored at its lowest level since 2012. Sub-Saharan Africa accounted for 48% of all terrorist deaths worldwide. As a result to combat terrorist activities government is investing in the defense sector, which in turn, is expected to boost the demand for smart bullets through the forecast period.
Segment Analysis:
Based on Product Type, the Smart Bullets Market is segmented into Guided Smart Bullets and Self-guided Smart Bullets. The Guided Smart Bullets segment held the largest market share, accounting for 64.8% in 2022. Guided Smart Bullets are able to hit moving and evading targets with extreme accuracy at sniper ranges unachievable with traditional rounds. In addition, an increase in criminal activities will be one of the primary factors driving the segment growth.

Based on End-User, the Smart Bullets Market is segmented into Airborne, Land, and Naval. In 2022, the Land segment held the largest market share, accounting for 44.2% and it is expected to continue to dominate through the forecast period. The MMR’s researchers expect that the situation will remain unchanged in the next years, thanks to increased spending in the military and defense sectors in developing countries for the development of smart weapons. The prevalence of war-like scenarios in many nations, such as Turkey, Ukraine, India, France, Lebanon, China, Afghanistan, and Pakistan, is expected to boost overall demand for smart bullets in the next years, favorably impacting this market.

The Airborne segment is expected to witness significant growth at a CAGR of 14.3% through the forecast period. The segment growth is attributed to growing investment in the defense and aerospace sector by governments across the globe. For example, the Brazilian air forces, have made significant investments in sensors and remote sensing for defense.
Regional Insights:
The North American region held the largest market share accounting for 44.3% in 2022. The global market for smart bullets has been divided into North America, Latin America, the Middle East and Africa, Asia Pacific, and Europe based on geography. The regional growth of the smart bullets market has been attributed to the increase in the defense budget and increased demand for weapons. In addition, technological developments are also expected to boost the usage of these bullets in this region.

The Europe region is expected to witness significant growth at a CAGR of 12.9% through the forecast period. The growing demand for smart weaponry in the United Kingdom, Germany, France, and Russia is driving the market growth in the region. In Europe, the United Kingdom has emerged as the biggest domestic market for smart bullets.

The Asia Pacific, among other regional markets, is expected to grow at a faster rate between 2023 and 2029. Thanks to ongoing research initiatives for the development of highly advanced smart weaponry, several economies in this region, including India, Japan, South Korea, Australia, and China, are expected to present significant potential for market growth during the forecast period. In addition, the Asia Pacific market for smart bullets is expected to be driven by rising weapon demand and frequent terror incidents in the coming years.

The objective of the report is to present a comprehensive analysis of the global Smart Bullets Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the market dynamic, structure by analyzing the market segments and projecting the Smart Bullets Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the market make the report investor’s guide.
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Smart Bullets Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 684.12 Mn.


Forecast Period 2023 to 2029 CAGR:
14.8%
Market Size in 2029:
US$ 1797.7 Mn.


 Segments Covered:
by Product Type
Guided Smart Bullets
Self-guided Smart Bullets


by End-User
Airborne
Land
Naval



Smart Bullets Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Smart Bullets Market Key Players:
1. Lockheed Martin Corporation
2. The Raytheon Company
3. BAE Systems PLC.
4. General Dynamics Corporation
5. Thales Group
6. Northrop Grumman Corporation
7. Harris Corporation
8. Boeing Company
9. Taser International, Inc.
10.Textron Defense Systems
11.Dassault Aviation
12.Axon
13.Others

Frequently Asked Questions:

1] What segments are covered in the Smart Bullets Market report?
Ans. The segments covered in the Smart Bullets Market report are based on the Product Type and by End-User.

2] Which region is expected to hold the highest share in the Smart Bullets Market?
Ans. The North America region is expected to hold the highest share in the Smart Bullets Market.

3] What is the market size of the Smart Bullets Market by 2029?
Ans. The market size of the Smart Bullets Market by 2029 is expected to reach nearly US$ 1797.7 Mn.

4] What is the forecast period for the Smart Bullets Market?
Ans. The forecast period for the Smart Bullets Market is 2023-2029.

5] What was the market size of the Smart Bullets Market in 2022?
Ans. The market size of the Smart Bullets Market in 2022 was valued at US$ 684.12 Mn.