Middle East & Africa Precision Guided Munition Market Size & Outlook
Middle East & Africa precision guided munition market, 2018-2030 (US$M)
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MEA precision guided munition market highlights
- The MEA precision guided munition market generated a revenue of USD 2,359.6 million in 2022.
- The market is expected to grow at a CAGR of 5.7% 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, Iran is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 2,359.6 million |
| Market revenue in 2030 | USD 3,672.2 million |
| Growth rate | 5.7% (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, MEA region accounted for 6.6% 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.
Key Regions: U.S. , UK , Brazil , Saudi Arabia , Iran
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Precision Guided Munition Market Scope
Precision Guided Munition Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 70.42% in 2022. Horizon Databook has segmented the Middle East & Africa 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.
The economic growth of the countries and heavy investments in the defense industries due to the rise in cross-border threats are factors that are propelling the market growth in Middle East & Africa.
In addition, various government including Saudi Arabia and Iran are taking initiatives to strengthen the armed forces to curb the ongoing illegal activities, providing affirmative condition for the market growth in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa precision guided munition market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa precision guided munition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA precision guided munition market size, by country, 2018-2030 (US$M)
Middle East & Africa Precision Guided Munition Market Outlook Share, 2022 & 2030 (US$M)
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