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How big is the Smart Bullets Market today and how fast it is growing

Author : Ronak Bora | Published Date : 2019-03-26 

Global smart bullets market is a highly consolidated market as majority of the top players held together over 60% of the market share in 2016. Several players are gradually focusing on product innovation and technological upgradation in the current offerings to enhance their business foothold. High competition within the industry is expected to strengthen further over the forecast timeframe.

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Smart Bullets Market is anticipated to witness a surge in demand due to growing security concerns resulted by the rise in terrorist organizations and events. In the recent years, arms race has been observed among several countries including India, Pakistan and China that is further projected to boost industry demand.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  • Raytheon
  • Lockheed Martin
  • Dassault Aviation
  • BAE Systems
  • Taser International
  • General Dynamics
  • Northrop Grumman
  • Textron Defense Systems
  • Thales Group
  • Harris Corporation
  • Boeing Corporation

 

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Key restraint associated with smart bullets market is the soaring prices of advanced weapons. However, technological advancement along with growing product demand is projected to reduce the cost of smart weaponries during the forecast timeframe.

On the basis of product types, self-guided products are increasing becoming well recognized in the global defense industry. Superior features including tracking the target path, changes in the speed, automatic data transfer are key factors supporting product penetration. Furthermore, the product come with various advantages including improved fatality with aim point range. They are even active against moving targets. Thus, boosting the overall smart bullets market growth.

Based on the end user, airborne is the fastest growing segment in the overall smart bullets market amongst other classifications including land and naval defense. This steady growth of the segment is credited to the emergence of latest weaponry technologies including Unmanned Combat Aerial Vehicle (UCAVs). The technology is becoming an innovative and low-cost alternative to conventional airborne attack platforms, fueling the expansion of global smart bullets market.

North America leads the global smart bullets market due to increasing focus of the U.S. administration towards the integration of technologically improved weapons into its defense list. Moreover, the U.S. government is even a crucial customer in North America as well on a global level.

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Some of the dominating smart bullets market players include Raytheon, Lockheed Martin, Dassault Aviation, BAE Systems, Taser International and General Dynamics. Other prominent players are Northrop Grumman, Textron Defense Systems, Thales Group, Harris Corporation and Boeing Corporation.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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