Market Share of Naval Smart Weapons Industry
The naval smart weapons market is fragmented. Some prominent companies in the market are BAE Systems PLC, Lockheed Martin Corporation, RTX Corporation, Northrop Grumman Corporation, and General Dynamics Corporation.
Many key players have forged enduring partnerships with military entities to bolster battlefield capabilities. Simultaneously, these firms channel significant investments into R&D, focusing on cutting-edge products and technologies to gain a tactical edge over competitors. A prime example is Northrop Grumman Corporation, which, in December 2023, secured a substantial USD 235.7 million contract from the US Navy. The deal encompasses the delivery of 118 AGM-88G Advanced Anti-Radiation Guided Missile-Extended Range (AARGM-ER), with a breakdown of 84 missiles designated for the Navy and 34 for the Air Force, along with additional training and testing components. This contract, including spares, tooling, and test equipment, not only highlights the modernization of navigation kits but also underscores the growth trajectory of these companies.
Naval Smart Weapons Market Leaders
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Lockheed Martin Corporation
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General Dynamics Corporation
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BAE Systems plc
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Northrop Grumman Corporation
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RTX Corporation
*Disclaimer: Major Players sorted in no particular order
