Precision Guided Munitions Market size is expected to be worth around USD 64.7B

 The Global Precision Guided Munitions Market size is expected to be worth around USD 64.7 Billion By 2034, from USD 37.9 billion in 2024, growing at a CAGR of 5.5% during the forecast period from 2025 to 2034. In 2024, North America held a dominant market position, capturing more than a 38% share, holding USD 14.4 Billion revenue.

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The Precision Guided Munitions Market refers to a sector within the global defense industry that focuses on weapons equipped with advanced guidance systems. These munitions are engineered to strike specific targets with minimal collateral damage, using technologies such as GPS, lasers, and inertial navigation systems. Designed for precision and effectiveness, they reduce wastage of ammunition and increase mission success rates, making them essential in modern warfare. This market encompasses various weapon types like missiles, bombs, and artillery shells that are used by air, land, and naval forces. The need for more accurate, lethal, and cost-efficient strike capabilities continues to elevate the importance of this segment across military operations worldwide.

The Precision Guided Munitions Market is showing notable expansion due to growing defense budgets, geopolitical tensions, and demand for improved strike capabilities. Several factors are pushing this momentum forward. The consistent need to minimize civilian casualties and avoid infrastructural damage is increasing the adoption of these systems. The integration of artificial intelligence, data-linked targeting, and advanced sensors is reshaping how nations perceive combat readiness. High demand is also coming from countries modernizing their armed forces with smart weaponry and updating their existing stockpiles to counter emerging threats. Regions like North America and Asia-Pacific are witnessing the most significant growth, reflecting their proactive military strategies and increasing procurement of advanced weapons.

Modern battlefield scenarios are shifting rapidly, and this is driving the integration of technologies like autonomous navigation, enhanced GPS resilience, and AI-powered targeting systems into precision-guided munitions. These innovations are not just making weapons more accurate but also allowing them to function effectively in contested environments. The need for smarter, network-centric warfare capabilities has accelerated the pace of adopting such technologies. Furthermore, modular designs are making munitions easier to upgrade without replacing the entire system, which is economically advantageous for defense forces.