Smart Weapons Expenditures to Surpass $63 Billion by 2029
BOSTON–(BUSINESS WIRE)–Escalating geopolitical tensions and a desire to improve capabilities are driving the growth of smart weapons in defense arsenals. The Strategy Analytics Advanced Defense Systems (ADS) report “Smart Weapons Forecast and Outlook: 2019 – 2029” forecasts that expenditures for smart weapons will exceed $63 billion in 2029, with this segment growing faster than the overall defense budget. The report also warns that uneven economic recoveries from the pandemic, a new US administration and an increasingly aggressive China could change the trajectory of this growth.
“Evolving battlefield philosophies are incorporating a “more with less” strategy that means smaller, more agile and smarter forces in the future,” noted Eric Higham Director of the Advanced Defense Systems (ADS) service. “The smart weapons category is a broad one, ranging from bullets to missiles and other projectiles, but improving sensor, processing, navigation and guidance capabilities provides a force multiplier that enables this “more with less” strategy.” He went on to say, “The result of this evolving strategy will be more digital and RF semiconductor opportunities in smart weapons.”
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