Smart weapons market set to grow

According to a new market research report, the global smart weapons market is estimated to reach the equivalent of R73.2 billion by 2020.

This is calculated from the interim figure of around R45.6bn in 2014, which is projected grow at a compound annual growth rate (CAGR) of around 8.21% from 2014 to 2020.

The various products covered in this report consist of anti-tank missiles, anti-aircraft missiles, standoff missiles, guided bombs, target pods, guided artillery shells, guided mortar rounds, guided rockets, and precision guided firearm.

The various technologies considered in this report are radar, laser, infra-red, microwave, global positioning systems, and other technologies encompassing video guidance systems, terrain mapping systems, and inertial navigation systems.

The need to provide precision fire capabilities to soldiers operating in squad and platoon levels has led to the development of guided projectiles which are being acquired by all the major global armed forces.

The precision effect offered by these projectiles - apart from offering a reliable first-shot, first-hit capability - reduces the logistics burden.

The technological advance also means that the unit cost of such systems will be further reduced, thus making them even more attractive and affordable over the forecast period.

Source: ASDwire.com