DELRAY BEACH, Fla., Oct. 16, 2026 /PRNewswire/ — According to MarketsandMarkets™, the precision guided munition market is projected to grow from USD 37.24 billion in 2026 to USD 62.53 billion by 2031 at a CAGR of 10.9%.
Browse 363 market data Tables and 78 Figures spread through 375 Pages and in-depth TOC on “ Precision Guided Munition Market – Global Forecast to 2031″
Precision Guided Munition Market Size & Forecast:
- Market Size Available for Years: 2021–2031
- 2026 Market Size: USD 37.24 billion
- 2031 Projected Market Size: USD 62.53 billion
- CAGR (2026–2031): 10.9%
Precision Guided Munition Market Trends & Insights:
- The precision guided munition market is being driven by the need to improve strike accuracy, reduce damage outside the target area, and increase the effectiveness of each weapon used. The demand is also rising as armed forces prepare for longer-range operations, contested environments, and faster target engagement.
- By product, the guided ammunition segment is projected to register the highest CAGR of 27.9% during the forecast period.
- By system, the guidance and navigation systems segment is expected to lead the market during the forecast period.
- By launch platform, the airborne segment is estimated to account for the largest market share of 55.1% in 2026.
- By region, Asia Pacific is projected to exhibit the highest CAGR during the forecast period.
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The market is growing as armed forces increase spending on weapons that can strike targets more accurately and from longer distances. Growth is also supported by military modernization, replacement of older stock, wider use of guided systems, and demand for better performance across land, air, and naval operations.
Further growth will be driven by the need to close gaps in long-range strike, air defense, and precision attack capability across land, air and naval forces. Demand for more guided ammunition, loitering munitions, improved propulsion, and guidance systems that can work in contested environments is increasing development activities worldwide.
“By product, loitering munitions segment to lead market during forecast period”
Loitering munitions are expected to hold the largest market share because they combine target search, tracking, and strike functions in one weapon. They are used against mobile, time-sensitive, and fixed targets and can be deployed by land forces and other military units. Demand is also supported by lower unit costs than larger missiles, wider use in conflicts, and procurement of both expendable and recoverable systems.
“By system, guidance and navigation systems segment to hold largest market share during forecast period”
Guidance and navigation systems are expected to hold the largest market share because they are required across nearly every precision-guided munition category. Tactical missiles, guided rockets, guided ammunition, torpedoes, interceptors, and loitering munitions depend on systems such as INS, GPS, and terrain-based navigation to reach selected targets. Demand is also supported by upgrades for better accuracy and operation in GPS-degraded or contested environments worldwide.
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“North America to account for largest market share during forecast period”
North America is projected to account for the largest precision guided munition industry share due to significant expenditures in the United States on missiles, guided rockets, precision ammunition, interceptors, and related technologies. The region is home to major suppliers and is engaged in extensive replacement and modernization programs, along with maintaining large military inventories across land, air, and naval forces. Continuous investment in long-range strike capabilities, air defense systems, and guidance technologies further drives market demand across various programs.
RTX (US), Lockheed Martin Corporation (US), Northrop Grumman (US), General Dynamics Corporation (US), and Boeing (US) are the major players in the precision guided munition companies. These companies have strong distribution networks across North America, Europe, Asia Pacific, the Middle East, and the Rest of the World.
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