India Smart Weapons Market (2022-2028) | Outlook, Share, Growth, Revenue, Size, Industry, Forecast, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Market Forecast By Product (Missiles, Munitions, Guided Projectiles, Guided Rockets, Guided Firearms, Directed Energy Weapons), By Technology (Laser, Infrared, Radar, GPS, Others), By Platform (Air, Land, Naval) And Competitive Landscape

Product Code: ETC433220 Publication Date: Nov 2022 Product Type: Market Research Report
Publisher: 6Wresearch No. of Pages: 75 No. of Figures: 35 No. of Tables: 20

India Smart Weapons Market Synopsis

The India Smart Weapons Market is expected to grow at a rapid pace during the forecast period. High demand for technologically advanced weapons systems and increasing defense expenditure are the major factors driving the growth of the Smart Weapons Market in India. Moreover, growing territorial disputes and cross-border conflicts are anticipated to fuel the demand for smart weapons in the country. However, stringent government regulations regarding arms exports are restraining the growth of the Smart Weapons Market in India.

The country is one of the world's largest importers of arms and ammunition. In recent years, there has been an increase in the demand for smart weapons, owing to the country's growing military expenditure and changing warfare strategies.

According to 6Wresearch, the India smart weapons Market size is expected to grow during 2022-2028. India is one of the world's fastest growing economies and the growth in military expenditure is likely to continue over the next decade. India has increased its defence budget share, with a view towards modernizing its armed forces and improving their capability in conventional wars. Some of the major factors driving the growth of the smart weapons market in India are the increasing defense spending by the government, growing terrorist activities, and modernization of the Indian armed forces.

COVID-19 Impact on India Smart Weapons Market

The faster spread of the coronavirus had significant impact on India Smart Weapons Industry. India Smart Weapon Market is a significant part of the Asia-Pacific Smart Weapon Market that faced numerous challenges due to the COVID-19 pandemic. Implementation of strict lockdown in the country led to various challenges for the market during the pandemic. There was a huge disruption in supply chain of crucial raw materials, there was reduction in defense spending and logistic challenges led to decline in this market. Slow production and delay in purchase orders were some of the biggest challenges the market confronted in the pandemic. After facing difficult time, the market is now progressing well and recovering from the impacts of the pandemic. 

Market Analysis by Product

Based on product, the market is segmented into Missiles, Munitions, Guided Projectiles, Guided Rockets, Guided Firearms, and Directed Energy Weapons. Out of these, directed energy weapons is growing well in the market and expected to dominate the market in the future. 

Market Analysis by Technology

Based on technology, the market can be segmented into Laser, Infrared, Radar, GPS, and Others. Out of these, the laser segment is progressing well in the Smart Weapon Market in India. This segment is estimated to dominate the market in the future. 

Market Analysis by Platform

On the basis of platform, the market is segmented into Air, Land, and Naval. Out of these, the naval segment is dominating the market. This segment is expected to boost the growth of the India Smart Weapon Market share in the future. 

Key Players in the India Smart Weapons Market

There is a high competition in the market due to the increase demand for smart weapons in the country. Some of the key companies operating in the India smart weapons market are:

  • Bharat Dynamics Limited (BDL)
  • Hindustan Aeronautics Limited (HAL)
  • Larsen & Toubro Limited (L&T)
  • Reliance Defence and Engineering Limited (RDEL)
  • Mahindra Defence Systems Limited (MDSL)
  • Tata Power Company Limited (TPCL)
  • Bharat Forge Limited (BFL)

These companies are engaged in the development, manufacturing, and sales of smart weapons. These companies have been aiding the market to progress well by meeting the needs of the consumers. 

Key attractiveness of the report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2018 to 2021.
  • Base Year: 2021.
  • Forecast Data until 2028.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report

  • India Smart Weapons Market Outlook
  • Market Size of India Smart Weapons Market, 2021
  • Forecast of India Smart Weapons Market, 2028
  • Historical Data and Forecast of India Smart Weapons Revenues & Volume for the Period 2018 - 2028
  • India Smart Weapons Market Trend Evolution
  • India Smart Weapons Market Drivers and Challenges
  • India Smart Weapons Price Trends
  • India Smart Weapons Porter's Five Forces
  • India Smart Weapons Industry Life Cycle
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Product for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Missiles for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Munitions for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Guided Projectiles for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Guided Rockets for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Guided Firearms for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Directed Energy Weapons for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Technology for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Laser for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Infrared for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Radar for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By GPS for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Others for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Platform for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Air for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Land for the Period 2018 - 2028
  • Historical Data and Forecast of India Smart Weapons Market Revenues & Volume By Naval for the Period 2018 - 2028
  • India Smart Weapons Import Export Trade Statistics
  • Market Opportunity Assessment By Product
  • Market Opportunity Assessment By Technology
  • Market Opportunity Assessment By Platform
  • India Smart Weapons Top Companies Market Share
  • India Smart Weapons Competitive Benchmarking By Technical and Operational Parameters
  • India Smart Weapons Company Profiles
  • India Smart Weapons Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product

  • Missiles
  • Munitions
  • Guided Projectiles
  • Guided Rockets
  • Guided Firearms
  • Directed Energy Weapons

By Technology

  • Laser
  • Infrared
  • Radar
  • GPS
  • Others

By Platform

  • Air
  • Land
  • Naval 
Frequently Asked Questions About the Market Study: FAQs

1. What are the growth drivers of the market?

High demand for technologically advanced weapons systems and increasing defense expenditure are the major factors driving the growth of the Smart Weapons Market in India.

2. Which factors are restraining the growth of the market?

Stringent government regulations regarding arms exports are restraining the growth of the Smart Weapons Market in India.

3. Who are the major players in the India Smart Weapon Industry?

Some of the key companies operating in the India smart weapons market are Bharat Dynamics Limited (BDL), Hindustan Aeronautics Limited (HAL), Larsen & Toubro Limited (L&T), Reliance Defence and Engineering Limited (RDEL), Mahindra Defence Systems Limited (MDSL), Tata Power Company Limited (TPCL) and Bharat Forge Limited (BFL).

4. Did the COVID-19 pandemic affect the market?

Yes, the COVID-19 pandemic affected the growth of the market.

 
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