A smart bomb is a precision guided munitions designed and developed to achieve smaller circular error portability. The smart bombs reduces the risk of air crews, ordnance spend and collateral damages and increases the damage effectiveness as they can be guided to a particular target and the lethality of these smart bombs against the targets are much more than the unguided bombs. The mechanism of these smart bombs are very different from the conventional bombs as these smart bombs have a triggering device with a time delay systems and a proximity sensor or an impact sensor. As the smart bomb approaches the target, the trigger goes off automatically, initiating the fuse to ignite the explosives resulting in explosion. 

The major boosting factor for the smart bombs market is the surging demand for precision munitions or precision bombs. The precision munitions can be guided as per the target and the damaged caused by these munitions or bombs are much more than the unguided. This advantage is increasing the interest among the defense forces across the globe to adopt the smart bombs in order to combat the enemy. Moreover, smart bombs reduces the logistics burden of the military forces as one smart bomb can damage thrice an unguided bomb. The costs involved in logistics of unguided bombs is much higher than that of smart bombs, which is an attractive factor for the defense forces. The reduction in logistic burden with smart bombs is fuelling the market for smart bombs. In addition, modernization of defense forces includes equipping the defense forces with modern weapons and munitions such as smart bombs which in turn strengthen the military forces to combat any enemy attacks. The modernization programs in defense forces are also driving the market for smart bombs across the globe. 

The major factor hindering the market for smart bombs is the bomb integration challenge. The smart bombs cannot be fitted to the traditional bomb launchers as they have mechanism for guiding the bomb to the targets. The aircrafts, naval ships, bomb launchers need to be specifically designed to launch the smart bomb so that malfunction of sensors, cameras and other integrated technologies are not hindered. This procedure requires huge investments, which is limiting the developing country’s defense forces to adopt smart bombs. 

The smart bombs market possess a potential growth opportunities in future as the demand for smart bombs is increasing in the developing countries. Countries such as India, South Korea, Vietnam, Australia, Turkey, Israel, and Brazil among others are demanding for smart bombs in order to fight the enemy. Owing to the fact that, the defense expenditure is growing in the developed as well as developing countries, the standardization of weapons and munitions are being carried out heavily. The standardization of weapons includes replacing old munitions with precision munitions, which is expected to drive the market for smart bombs in future. 

The market of smart bombs is segmented on basis of guidance, platform and geography. Based on guidance, the smart bombs market is segmented as radio guided bombs, infrared guided bombs, laser guided bombs, GPS, and satellite guided bombs. The laser guided bombs dominate the market followed by satellite guided bombs. Based on platform, the smart bombs market is segmented as airborne and naval based. Geographically, the smart bombs market is categorized as North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The smart bombs market was dominated by North America, followed by Europe. Asia Pacific is the fastest growing region across the globe in the market for smart bombs. 

The manufacturers of smart bombs across the globe are Lockheed Martin Corporation (U.S.), Raytheon Company (U.S.), Bharat Electronics Limited (India), The General Atomics Corporations (U.S.), L-3 Communications Holding Inc. (U.S.), Textron Inc. (U.S.), General Dynamics Corporation (U.S.), Israel Aerospace Industries Ltd. (Israel).

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market  

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Smart Bombs Market

Pre Book