Smart Weapons Market Size

Smart Weapons Market size was valued at USD 18.36 billion in 2023 and is expected to reach USD 35.05 billion by 2036, expanding at around 5.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of smart weapons is assessed at USD 19.11 billion.

The global smart weapons market is thriving on the back of dynamic change observed in the nature of warfare across nations around the globe along with the growing demand for advanced high precision ammunitions and arms by the armies of developed and developing nations. Given the need for advanced technology ammunitions by governments across the world for their safety and security, an upsurge in the demand for smart weapons have been observed across nations in the recent era. Additionally, growing trade on arms and ammunitions around the world is also anticipated to contribute significantly towards the growth of the global smart weapons market. According to International Trade Centre (ITC), exports of bombs, missiles, torpedo, grenades and others around the world increased from USD 3528064 thousand in the year 2010 to USD 4616123 thousand in the year 2018.