LONDON--(BUSINESS WIRE)--Second sentence under the Lockheed Martin heading of release dated June 6, 2017, has been replaced.
The corrected release reads:
TOP 5 VENDORS IN THE GLOBAL SMART WEAPONS MARKET FROM 2017-2021: TECHNAVIO
Technavio has announced the top five leading vendors in their recent global smart weapons market report until 2021. This research report also lists five other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global smart weapons market for 2017-2021 provides a detailed industry analysis based on the platform (naval, land-based, and aerial) and geography (the Americas, APAC, and EMEA).
“The global smart weapons market is projected to reach more than USD 16 billion by 2021, growing at a CAGR of nearly 6% over the forecast period. The growing focus on the development of smart drones is a key factor boosting the market growth,” says Moutushi Saha, a lead analyst at Technavio for defense research.
Competitive vendor landscape
The global smart weapons market is characterized by the presence of global and regional vendors to gain maximum market shares. In-house manufacturing capacities, global footprint network, product offerings, R&D investments, and a strong client base have become key focus areas that help in providing a competitive edge in the market.
The prospects of the market vendors are largely dependent on the market conditions, regulatory government support, and development of the industry. Vendors who focus on expanding geographically and improving their product offerings are likely to flourish in the market.
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Top five vendors in the global smart weapons market
General Dynamics
General Dynamics and its subsidiaries are engaged in aerospace and defense businesses globally. The company develops several smart weapons, which are used by the army, ground vehicles, naval ships, and military planes. Some of these weapons are ADM, Stinger missiles, Tomahawk missiles, and XM982 Excalibur precision-guided artillery.
Lockheed Martin
Lockheed Martin is engaged in the production and supply of advanced technology systems and solutions to global defense and aerospace industries. It develops the smart weapons that help in providing enhanced accuracy while firing a missile or munition, including Paragon direct attack munition, PDAM, DMLGB, and BRU-57 smart bomb rack.
MBDA
MBDA and its subsidiaries design and manufacture missiles and missile systems for the navy, army, and air force sectors worldwide. It has business operations in France, Germany, Italy, Spain, the UK, and the US.
Orbital ATK
Orbital ATK is engaged in the development and supply of advanced weapon and space systems. Orbital ATK develops smart weapons such as GMLRS alternative warhead, XM25 CDTE systems, Advanced Anti-Radiation Guided Missile (AGM-88E), Guided Advanced Tactical Rocket, and 120 mm XM395 Precision Mortar.
Raytheon
Raytheon provides solutions to the defense and government markets across the world. It offers electronics, mission systems integration, and other capabilities in the areas of sensing, effects and command, control, communications, and intelligence systems, along with a broad range of mission support services.
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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