Global Precision-Guided Munitions Market is expected to reach US$ 55.31 billion by 2032 | DataM Intelligence

The Global Precision-Guided Munitions Market is expected to reach at a CAGR of 5.81% during the forecast period 2025-2032.

AUSTIN, TX, UNITED STATES, May 22, 2025 /EINPresswire.com/ -- The Global Precision-Guided Munitions (PGM) Market is witnessing significant expansion, fueled by rapid advancements in military technology and rising geopolitical tensions. Recent forecasts indicate that the market value will grow from USD 35.21 billion in 2024 to USD 55.31 billion by 2032, representing a compound annual growth rate (CAGR) of 5.81%.

Market Overview:

PGMs, which include guided missiles, bombs, and artillery shells, are designed to precisely hit targets while minimizing collateral damage. These munitions are increasingly integral to modern warfare strategies, offering enhanced accuracy and effectiveness in various combat scenarios.

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Market Drivers and Opportunities:

Several factors are contributing to the growth of the Precision-Guided Munitions (PGM) Market:

Technological Advancements: Innovations in GPS, laser, and AI-based guidance systems are improving the precision and reliability of PGMs.

Increased Defense Budgets: Nations are allocating more resources to modernize their military arsenals, with a focus on acquiring advanced PGMs.

Geopolitical Tensions: Ongoing conflicts and territorial disputes are prompting countries to enhance their defense capabilities, leading to higher demand for PGMs.

Demand for Reduced Collateral Damage: The need to minimize civilian casualties in conflict zones is driving the adoption of precision strike technologies.

Market Segmentation:

By Product:
Tactical Missiles
Guided Rockets

By Technology:
Infrared
Laser
Inertial Navigation System (INS)
Global Positioning System (GPS)
Radar Homing
Anti-radiation

By Launch Platform:
Land-based
Airborne
Naval

By Region:
North America
Latin America
Europe
Asia Pacific
Middle East
Africa

Geographical Market Share:

North America commands a major portion of the PGM market, largely driven by the United States' substantial defense expenditures. The U.S. Department of Defense dedicates more than $4 billion each year toward the acquisition of missiles and smart bombs. Meanwhile, the Asia-Pacific region is experiencing swift expansion, as nations such as India, Japan, and South Korea make significant investments in PGMs to strengthen their defense capabilities.

Key Market Players:

Leading companies in the PGM market include:

BAE System
Elbit Systems
General Atomics
General Dynamics Corporation
Israel Aerospace Industries
Lockheed Martin Corporation
MBDA
Northrop Grumman
Raytheon Technologies
Thales

Recent Developments:

United States:

In April 2025, BAE Systems introduced an upgraded dual-mode version of the APKWS II, integrating both laser and passive infrared guidance. This advancement enables "aim-and-shoot" functionality, enhancing effectiveness against drone swarms while minimizing the need for continuous laser tracking.

In June 2024, the U.S. Army successfully tested its new Precision Strike Missile (PrSM) during the Valiant Shield exercise, hitting a moving target at sea. Developed by Lockheed Martin, the PrSM is designed to deliver greater range and pinpoint accuracy, making it a next-generation replacement for older systems like the ATACMS.

Japan:

Development of Standoff Precision Missiles: In April 2025, Japan's Ministry of Defense and Mitsubishi Heavy Industries signed a contract for the development of a new standoff precision missile. This initiative aims to enhance Japan's defense capabilities amid regional security challenges.

Approval of AGM-158B JASSM-ER Acquisition: In July 2024, Japan approved the acquisition of AGM-158B Joint Air-to-Surface Standoff Missile-Extended Range (JASSM-ER) for its F-15J aircraft. This acquisition is part of Japan's strategy to strengthen its missile defense systems.

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Conclusion:

The Precision-Guided Munitions market is set for significant expansion, driven by technological innovations, increased defense spending, and the need for precise strike capabilities in modern warfare. As nations continue to invest in advanced PGMs, the landscape of global defense is evolving to meet the challenges of contemporary conflicts.

Related Reports:

US Precision-guided Munitions (PGMs) Market

Hypersonic Weapons Market

Sai Kiran
DataM Intelligence 4Market Research
+1 877 441 4866
Sai.k@datamintelligence.com
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