Some of the primary factors driving the growth of the precision-guided munitions market are the increasing need for extremely accurate strike ammunition, rising asymmetric warfare, international disputes, and growing military modernization programs. Many countries are increasing their R&D spending and launching programs to develop next-generation precision weapons that are lightweight, compact, and reliable. The market for precision-guided munitions are being fueled by the use of satellite networks, navigation aids, and drones to kill high-value, long-range targets, as well as the demand for miniaturized weapons. Autonomous precision-guided warheads are equipped with electro-optical and high-resolution cameras to help locate and direct the vehicle to its intended destination. Growing demand for a multi-target precision strike, multi-mission weapons is expected to drive market growth over the forecast period.
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