South Korea Precision Guided Munition Market Size & Outlook
South Korea precision guided munition market, 2018-2030 (US$M)
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South Korea precision guided munition market highlights
- The South Korea precision guided munition market generated a revenue of USD 1,511.9 million in 2022 and is expected to reach USD 2,451.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.2% 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 2022 | USD 1,511.9 million |
| Market revenue in 2030 | USD 2,451.0 million |
| Growth rate | 6.2% (CAGR from 2022 to 2030) |
| Largest segment | Tactical missiles |
| Fastest growing segment | Loitering Munition |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, South Korea accounted for 4.3% 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 Asia Pacific, China precision guided munition market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 5,426.3 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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South Korea 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 71.06% in 2022. Horizon Databook has segmented the South Korea 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.
South Korea is anticipated to witness a steady market growth over the forecast period owing to the increasing government initiative for arms procurement and indigenous weapon system development. In addition, increased defense budget spending to counter threats from North Korea is further expected to boost the growth of the market in terms of weapons system deployment over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea precision guided munition market , including forecasts for subscribers. This country databook contains high-level insights into South Korea precision guided munition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea precision guided munition market size, by product, 2018-2030 (US$M)
South Korea Precision Guided Munition Market Outlook Share, 2022 & 2030 (US$M)
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