Saudi Arabia Precision Guided Munition Market Size & Outlook

The precision guided munition market in Saudi Arabia is expected to reach a projected revenue of US$ 591.4 million by 2030. A compound annual growth rate of 5.1% is expected of Saudi Arabia precision guided munition market from 2023 to 2030.
Revenue, 2022 (US$M)
$396.0
Forecast, 2030 (US$M)
$591.4
CAGR, 2023 - 2030
5.1%
Report Coverage
Saudi Arabia

Saudi Arabia precision guided munition market highlights

  • The Saudi Arabia precision guided munition market generated a revenue of USD 396.0 million in 2022 and is expected to reach USD 591.4 million by 2030.
  • The Saudi Arabia 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.


Precision guided munition market data book summary

Market revenue in 2022USD 396.0 million
Market revenue in 2030USD 591.4 million
Growth rate5.1% (CAGR from 2022 to 2030)
Largest segmentTactical missiles
Fastest growing segmentLoitering Munition
Historical data2018 - 2021
Base year2022
Forecast period2023 - 2030
Quantitative unitsRevenue in USD million
Market segmentationTactical Missiles, Guided Rockets, Guided Ammunition, Loitering Munition
Key market players worldwideLockheed 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, Saudi Arabia accounted for 1.1% of the global precision guided munition market in 2022.
  • Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
  • In Middle East & Africa, Iran precision guided munition market is projected to lead the regional market in terms of revenue in 2030.
  • Iran is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,365.9 million by 2030.

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Precision Guided Munition Market Scope

Precision guided munition market segmentation & scope
Tactical Missiles
Guided Rockets
Guided Ammunition
Loitering Munition
Infrared
Semi-Active Lasers
Inertial Navigation System (INS)
Global Positioning System (GPS)
Radar Homing
Anti-Radiation
Others

Precision Guided Munition Market Companies

Name Profile # Employees HQ Website

Saudi Arabia 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 70.71% in 2022. Horizon Databook has segmented the Saudi Arabia 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.


In terms of revenue, the precision-guided munition market in Saudi Arabia is expected to ascend at an estimated CAGR of 4.3% over the forecast period. The market growth is attributed due to the rise in weapons import from the countries including the U.S., France, and Germany, which is further accompanied by the increasing military expenditure.

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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia precision guided munition market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia precision guided munition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Saudi Arabia precision guided munition market size, by product, 2018-2030 (US$M)

Saudi Arabia Precision Guided Munition Market Outlook Share, 2022 & 2030 (US$M)

Saudi Arabia precision guided munition market size, by product, 2018-2030 (US$M)

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