Introduction

The precision guided munition (PGM) market has become a vital component of modern defense strategies, driven by the increasing need for accurate, efficient, and low-collateral-damage military operations. Precision-guided weapons use technologies such as GPS, laser, infrared, and radar guidance systems to improve targeting accuracy. As highlighted in Stratview Research market insights, rising defense modernization programs and the growing importance of smart warfare technologies are significantly contributing to the expansion of the PGM market globally.

According to Stratview Research, the precision guided munition market was estimated at USD 33.1 billion in 2021 and is likely to grow at a CAGR of 5.85% during 2022-2028 to reach USD 49.11 billion in 2028.

Applications

Precision guided munitions are widely used in air, land, and naval combat operations, including guided missiles, smart bombs, torpedoes, and artillery systems. These weapons are integrated into fighter aircraft, unmanned aerial vehicles (UAVs), naval vessels, and ground-based launch platforms. Their ability to deliver accurate strikes in complex combat environments makes them essential for both tactical missions and strategic defense operations.

Key Drivers

The market is primarily driven by increasing global defense expenditure and the demand for advanced combat capabilities. Military forces are focusing on minimizing collateral damage while improving mission success rates, which has accelerated the adoption of precision-guided systems. Technological advancements in miniaturized electronics, sensor technologies, and network-centric warfare systems are further supporting market growth. Additionally, the modernization of legacy weapon systems with precision guidance kits is creating new opportunities.

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Future Opportunities

The future of the market lies in AI-enabled targeting systems, autonomous strike capabilities, and next-generation guidance technologies. Growing investments in unmanned combat systems and integrated battlefield networks, particularly in Asia-Pacific and the Middle East, are expected to create significant growth opportunities.

Conclusion

The precision guided munition market is poised for steady growth as defense forces increasingly adopt smart, accurate, and technology-driven weapon systems. Continuous innovation and defense modernization initiatives will remain key to the market’s long-term development.