UK Precision Guided Munition Market Size & Outlook
UK precision guided munition market, 2018-2030 (US$M)
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UK precision guided munition market highlights
- The UK precision guided munition market generated a revenue of USD 1,918.5 million in 2022 and is expected to reach USD 2,919.5 million by 2030.
- The UK market is expected to grow at a CAGR of 5.4% 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 1,918.5 million |
| Market revenue in 2030 | USD 2,919.5 million |
| Growth rate | 5.4% (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, UK accounted for 5.4% 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 Europe, Russia precision guided munition market is projected to lead the regional market in terms of revenue in 2030.
- Russia is the fastest growing regional market in Europe and is projected to reach USD 3,836.2 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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UK 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 70.97% in 2022. Horizon Databook has segmented the UK 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 UK is expected to be a significant market for the precision guided munition market over the forecast period owing to its advanced military technology and increasing defense expenditure contributing to the adoption of a high-tech weapon system.
In addition, rising concern towards national security due to increasing terrorism activities is expected to further increase the demand for precision-guided weapons over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK precision guided munition market , including forecasts for subscribers. This country databook contains high-level insights into UK precision guided munition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK precision guided munition market size, by product, 2018-2030 (US$M)
UK Precision Guided Munition Market Outlook Share, 2022 & 2030 (US$M)
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