North America Precision Guided Munition Market Size & Outlook
North America precision guided munition market, 2018-2030 (US$M)
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North America precision guided munition market highlights
- The North America precision guided munition market generated a revenue of USD 8,100.9 million in 2022.
- The market is expected to grow at a CAGR of 5.1% 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, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 8,100.9 million |
| Market revenue in 2030 | USD 12,030.7 million |
| Growth rate | 5.1% (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, North America region accounted for 22.8% 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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North America 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 71.07% in 2022. Horizon Databook has segmented the North America 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.
North America's precision-guided munition market is anticipated to grow on account of military advancement by countries including the U.S., Canada, and Mexico.
Adoption of advanced technology gadgets and war equipment by the U.S. Military is expected to lead the growth over the forecast period. Moreover, procurement of missiles, rockets, torpedoes for military, navy, and air force operations are expected to offer growth prospect to the market.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America precision guided munition market , including forecasts for subscribers. This continent databook contains high-level insights into North America precision guided munition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America precision guided munition market size, by country, 2018-2030 (US$M)
North America Precision Guided Munition Market Outlook Share, 2022 & 2030 (US$M)
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