Guided Bomb Market is segmented by Guidance Type (GPS-guided Bomb, Laser-guided Bomb, Infrared (IR)-guided Bomb, and Others) and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, Ukraine, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, Australia, Pakistan, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Iran, Israel, and Others]).
Guided Bomb Market is segmented by Guidance Type (GPS-guided Bomb, Laser-guided Bomb, Infrared (IR)-guided Bomb, and Others) and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russ...
Guided bombs are a type of precision-guided munitions, which are equipped with guidance systems, fin-based actuation systems, and other sub-components, to increase the accuracy of their strike. They are dropped from an airplane towards their intended targets, and they are not furnished with any propulsion technology.
These bombs help in minimizing collateral damage and simultaneously increase the lethality against the intended targets. As a result, such bombs have almost replaced the traditional unguided “dumb” bombs.
Market Drivers
Amid the growing terror threats and border disputes, several countries and defense authorities are engaged in strengthening their overall military and warfare capabilities. This has also led to a rising emphasis on the development and deployment of guided bombs. As a result, the deployment and usage of guided bombs have been rapidly gaining momentum in recent years.
Segments Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Guidance Type Analysis
GPS-guided Bombs, Laser-guided Bombs, Infrared (IR)-guided Bombs, and Others
The laser-guided bomb is anticipated to remain the dominant as well as fastest-growing guidance in the years to come.
Regional Analysis
North America, Europe, Asia-Pacific, & Rest of the World.
North America is expected to remain the dominant and Asia-Pacific is the fastest-growing market in the forecast period.
By Guidance Type
“Laser-guided bomb is expected to remain the dominant guidance type of the market during the forecast period.”
Based on guidance type, the market is classified as GPS-guided bombs, laser-guided bombs, infrared (IR)-guided bombs, and others.
Among these sub-segments, laser-guided bombs are most used, thereby accounting for market supremacy.
They carry a lesser amount of explosives as compared to unguided bombs and result in limited collateral damage. As a result, laser-guided bombs have generated a large demand in recent years, and they are used by several air forces across the globe.
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Regional Analysis
“North America is expected to remain the largest market during the forecast period.”
In terms of regions, North America is likely to maintain its dominance in the global guided bomb market, throughout the forecast period.
Several market-leading companies such as Boeing, General Dynamics Corporation, L3Harris Technologies, Inc., Lockheed Martin Corporation, and Raytheon Technologies Corporation, among others, are headquartered in the region.
These companies actively engage in the development of precision guidance kits for general bombs and turning them into laser-guided bombs (LGB).
They are also the primary contractors for the US Department of Defense w.r.t guided bombs. Concurrently, Asia-Pacific is an emerging region in the global market as the entire continent is prone to high-tension border conflicts such as that of India-Pakistan, India-China, China-Taiwan, and North Korea-South Korea.
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Key Players
There is intense competition in the global guided bomb market, with the top six companies holding nearly 60% of the overall market share. There are several numbers of players in the global market, engaged in the production of guided bombs and precision guidance kits. The competitive scenario is directly dependent on the industry conditions and overall investments in the development of guided bombs. Moreover, the defense industry has witnessed a few mergers and acquisitions in recent years, which has largely affected the market landscape. For example, in April 2020, Raytheon Company and United Technologies Corporation merged their businesses and operations to form Raytheon Technologies Corporation.
The following are the key players in the guided bomb market (arranged alphabetically).
Note:The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Guided Bomb Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market Segment Analysis and Forecast
Who are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirements?
10% free customization
Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Guided Bomb market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
Recent Market News & Developments
The defense industry has witnessed mergers and acquisitions in recent years, which has largely affected the market landscape.
In April 2020, Raytheon Company and United Technologies Corporation merged their businesses and operations to form Raytheon Technologies Corporation.
Recent Product Development:
There have been several investments in the defense industry directed at guided bombs in recent years, which would boost the overall market. Some of them are:
In January 2024, Raytheon Technologies Corporation secured a $345 million contract from the U.S. Air Force to produce over 1,500 Small Diameter Bomb II (SDB II) GBU-53/B munitions, also known as "StormBreaker." This contract, covering the 10th production lot, includes provisions for the U.S. Air Force, U.S. Navy, and Foreign Military Sales customers, with work planned to be completed by August 2028.
In June 2022, General Dynamics Ordnance and Tactical Systems signed a contract worth US$ 133.2 million with the US Army, to supply the Tritonal bomb components for the MK-80 series general purpose bombs.
In September 2020, Boeing had a seven-year agreement worth US$ 2.24 billion with the US Air Force, $2.24B to produce lot 15 Small Diameter Bombs, along with their containers and carriages, for the US Department of Defense (DoD) and seven foreign military sales (FMS) customers namely, Belgium, Norway, Netherlands, Israel, Japan, Korea, and Australia.
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A guided bomb, also called a smart bomb or guided bomb unit (GBU), is a precisely targeted munition that minimizes the margin of error, ensuring accuracy in hitting its intended target.
The guided bomb market is estimated to grow at a CAGR of 5.4% in the coming five years. This growth is primarily attributed to the surge in the military expenses of several countries in recent times, along with the continued emphasis on the development and deployment of guided bombs by different military forces, around the world.
Boeing, General Dynamics Corporation, L3Harris Technologies, Inc., Lockheed Martin Corporation, and Raytheon Technologies Corporation are some of the major players in the guided bomb market. These companies stand out among the several companies in the market, because of their product offering, regional penetration, and industry experience.
Asia-Pacific is estimated to grow at the fastest pace in the guided munition market in the coming years, because of the increasing defense expenditure of countries mainly China and India. Rising geopolitical tensions, technological advancement in guided munition technologies, focussing on air and naval power projection, and changing threat landscape are some of the key factors driving the growth of the guided bomb market at a faster pace in Asia-Pacific.
North American region is estimated to continue as the global leader in the coming years. This is due to the widespread presence of market-leading companies such as Boeing, General Dynamics Corporation, L3Harris Technologies, Inc., Lockheed Martin Corporation, and Raytheon Technologies Corporation in the region, which are also among the major guided bomb contractors for the US Department of Defence (DoD). Moreover, the region is the global leader in terms of military budgets and expenses, which is estimated to impeccably fuel market growth in the coming years.
