U.S. Precision Guided Munition Market Size & Outlook
U.S. precision guided munition market, 2018-2030 (US$M)
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U.S. precision guided munition market highlights
- The U.S. precision guided munition market generated a revenue of USD 5,614.5 million in 2022 and is expected to reach USD 8,644.4 million by 2030.
- The U.S. market is expected to grow at a CAGR of 5.5% 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 5,614.5 million |
| Market revenue in 2030 | USD 8,644.4 million |
| Growth rate | 5.5% (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, U.S. accounted for 15.8% 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 North America, U.S. precision guided munition market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 8,644.4 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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U.S. 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 71.29% in 2022. Horizon Databook has segmented the U.S. 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 U.S. is the largest market for precision-guided munition owing to the factors including the highest military spending in developing weapon potential and consolidation of major weapon manufacturer in the country.
The Department of Defense works closely with these manufacturers to design and develop various munition product including missiles, rockets, ammunition, and loitering munition.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. precision guided munition market , including forecasts for subscribers. This country databook contains high-level insights into U.S. precision guided munition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. precision guided munition market size, by product, 2018-2030 (US$M)
U.S. Precision Guided Munition Market Outlook Share, 2022 & 2030 (US$M)
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