Guided Bomb Market is Forecasted to Reach US$ 3.1 billion by 2028, Says Stratview Research

The global guided bomb market is projected to witness a growth rate of 5.4% annually from 2023 to 2028, with an anticipated size of US$ 3.1 billion by 2028, according to an analysis by Stratview Research

Stratview Research, a global market research firm has launched a report on the global guided bomb market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics

Market Size in 2035: US$ 3.1 billion

Growth (CAGR): 5.4 % during 2023-2028

Leading Guidance Type: Laser-guided bomb

Leading Region: North America

Forecast Period: 2023-2028

Trend Period: 2017-2021

Base Year: 2022

Number of Segments Covered: 2

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Guided Bomb Market:

The global guided bomb market is segmented based on guidance type and region.

Based on Guidance type –

• 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.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

“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.

Guided Bomb Market Drivers:

Key drivers fueling the growth of the guided bomb market:

• Precision Strike Capability – Growing demand for surgical strike accuracy with minimal collateral damage is driving adoption of guided munitions.
• Modernization of Armed Forces – Defense modernization programs across major economies are boosting procurement of advanced air-to-ground weapons.
• Increased Geopolitical Tensions – Rising regional conflicts and cross-border threats are compelling nations to invest in precision-guided bombs.
• Technological Advancements – Integration of GPS, laser, and inertial navigation systems is enhancing targeting accuracy and mission efficiency.
• Expansion of UAV-based Warfare – Increasing deployment of drones in combat roles is fueling the demand for lightweight, precision-guided bomb systems.

Competitive Landscape: Top Companies in the Guided Bomb Market:

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).

• Boeing
• General Dynamics Corporation
• L3Harris Technologies, Inc.
• Lockheed Martin Corporation
• Raytheon Technologies Corporation

Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the market, answering critical questions like

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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