26 March 2021
Visiongain has published a new report on Smart Bullets Market Report to 2031: Forecasts By Type (Guided Smart Bullets and Self-guided Smart Bullets), By End User (Airborne, Land, Naval). PLUS, Profiles of Leading Smart Bullets Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios
Global Smart Bullets market was valued at US$ xx billion in xx and is projected to reach at a market value of US$ xx billion by 2031.
COVID-19 Impact on Smart Bullets Market
The COVID-19 pandemic has impacted lives of people all around the globe. It has proved quite detrimental for business across the globe and no industry and remained untouched by its impacts. This pandemic has caused a serious disruption in the supply chain and has resulted in a huge supply-demand gap in the market for smart bullets worldwide
Increasing defense budget
Developing nations across the globe are investing heavily to enhance their defense capabilities. For instance. China’s defense expenditure has witnessed an almost seven-times increase over the past twenty years, growing from US $39.6 billion in 1999 to US $266.4 billion in 2019. Currently, China spends more on defense than South Korea, Japan, Vietnam, and the Philippines combined. Moreover, India’s military spending grew by 6.8% to US $71.1 billion in 2019, according to the Stockholm International Peace research institute (SIPRI) report on the Trends in World Military Expenditure, 2019.
Increase in the demand of weapons
Smart bullets market is anticipated to observe a growth in demand owing to the growing security threats by the rise in terrorist activities. In the recent years, frequent conflicts have been observed among several Asian countries, for instance, China, India, Pakistan. This factor is further expected to bolster the growth of smart bullets market over the forecast years.
Increase in the demand of smart bullets in air force
Among end-users comprising airborne, land, and navel, the airborne category is expected to be one of the dominant drivers in the global smart bullets market. The rise in demand of smart bullets from (Unmanned Combat Aerial Vehicle) UCAV systems is anticipated to bolster the growth of smart bullets market over the forecast period.
Some of the companies profiled in the report include Lockheed Martin, Northrop Grumman, Thales Group, Raytheon, Dassault Aviation, BAE Systems, Taser International, General Dynamics, Textron Defense Systems, and Harris Corporation.
• In February 2017, Lockheed announced to develop smart bullets to help defend Navy vessels from swarming attacks
• In October 2020, The RAPIDFire system developed by the consortium formed by Thales and Nexter was chosen by the French defence procurement agency (DGA) to equip future French Navy vessels with new artillery.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to email@example.com or call her on +44 (0) 20 7549 9987.
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
Growing threat of unprecedented terrorist threats amid coronavirus pandemic is anticipated to propel the growth of x-band radar market over the forecast timeframe.
29 March 2021
VTOL (vertical take-off and landing) UAVs are finding huge demand from defense forces, owing to the runway-less take-off and landing feature associated with such aircraft. Moreover, the growing usage of VTOL UAVs in numerous applications, for instance, aerial remote sensing, product delivery, surveying & mapping, monitoring, and agriculture, is also bolstering the growth of the VTOL UAV market.
29 March 2021
Rising investments for the development of ultra-powerful radars and other communication systems by the major industry players is expected to raise the requirement to upgrade existing communication systems. This is expected to drive the growth of global vetronics market.
29 March 2021
The growth of unmanned underwater vehicles market can be credited largely to the growing number of deep-water offshore oil & gas production activities (owing to rising demand for oil & gas) across the globe.