Asia Pacific Precision Guided Munition Market Size & Outlook
Asia Pacific precision guided munition market, 2018-2030 (US$M)
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Asia Pacific precision guided munition market highlights
- The Asia Pacific precision guided munition market generated a revenue of USD 11,156.4 million in 2022.
- The market is expected to grow at a CAGR of 6.6% from 2023 to 2030.
- In terms of segment, tactical missiles was the largest revenue generating product in 2022.
- Loitering Munition is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 11,156.4 million |
| Market revenue in 2030 | USD 18,642.6 million |
| Growth rate | 6.6% (CAGR from 2022 to 2030) |
| Largest segment | Tactical missiles |
| Fastest growing segment | Loitering Munition |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Tactical Missiles, Guided Rockets, Guided Ammunition, Loitering Munition |
| Key market players worldwide | Lockheed Martin Corp, Thyssenkrupp AG, RTX Corp, Thales Group, BAE Systems PLC, Northrop Grumman Corp, General Dynamics Corp, Elbit Systems Ltd |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 31.4% of the global precision guided munition market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 18,642.6 million by 2030.
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Precision Guided Munition Market Scope
Precision Guided Munition Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific precision guided munition market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to precision guided munition market will help companies and investors design strategic landscapes.
Tactical missiles was the largest segment with a revenue share of 70.94% in 2022. Horizon Databook has segmented the Asia Pacific precision guided munition market based on tactical missiles, guided rockets, guided ammunition, loitering munition covering the revenue growth of each sub-segment from 2018 to 2030.
Asia-Pacific precision-guided munition market is expected to progress at the fastest CAGR 7.1% over the forecast period. Rising geopolitical disputes and the increasing threat of terrorist attacks are the primary reasons for the growth of defense industries in the region.
Countries including China and India are spending on the modernization of their armed forces to battle against violence amid increasing concern towards national security. These factors are expected to drive the market demand for precision-guided weapons over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific precision guided munition market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific precision guided munition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific precision guided munition market size, by country, 2018-2030 (US$M)
Asia Pacific Precision Guided Munition Market Outlook Share, 2022 & 2030 (US$M)
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