Loitering Munition Market Key Players Overview Applications and Analysis 2028

The global "Loitering Munition Market" was valued at US$ 972.44 million in 2022 and is expected to reach US$ 1,539.02 million by 2028; it is anticipated to register a CAGR of 8.4% from 2023 to 2028.

The loitering munitions market is expected to benefit from increased modularity, increased use of artificial intelligence (AI) and swarm technology, mission modules, and increased sensor capabilities over the forecast period. The rising adoption of unmanned systems is projected to offer various growth opportunities for the loitering munition market growth. Loitering munitions are engineered with seamless, persistent, and robust sensor-to-shooter links, ensuring the shortest loop between acquisition and targeting.

Get Exclusive Sample Pages of This Report @: https://www.premiummarketinsights.com/sample/TIP00073794?utm_source=OpenPr&utm_medium=10688

Companies Profiled in this report includes:

• STM AS
• Innovaero Pty Ltd
• AVision Sytems Pvt Ltd
• Rafael Advanced Defense Systems Ltd
• AeroVironment Inc
• Lockheed Martin Corp
• WB Electronics SA
• Israel Aerospace Industries Ltd
• UVision Air Ltd
• Elbit Systems Ltd

Furthermore, integrating mission modules enables greater flexibility and a lower cost of operations, as intelligence, surveillance, and reconnaissance (ISR) roles can be fulfilled before a munition. Loitering munitions are anticipated to become a game-changer in artillery and fill the existing voids in surveillance-precision engagement capability between 40 and 200 km. Various countries are investing in enhancing their defense systems with advanced warfare technologies such as autonomous weapon systems. For instance, in February 2023, the defense ministry of Estonia announced the procurement of a significant quantity of loitering munitions, which is expected to be delivered in 2024. The purchase of an undisclosed number of loitering munitions is expected to be concluded in the first quarter of 2023. Such growing demand for advanced warfare technologies is projected to witness an upward trend over the forecast period.

Get Full Report here @: https://www.premiummarketinsights.com/reports-tip/loitering-munition-market

Loitering Munition Market Segmentation:

By Type:
• Fixed Wing
• Rotary Wing

By Platform:
• Air
• Naval
• Land

In order to adopt the growing trend of autonomous weapon systems, various loitering munition market players are launching smart loitering munitions, a fully autonomous weapon system that can search, identify, decide, and engage targets independently without any human intervention. For instance, in December 2022, ROKETSAN and STM joined forces to develop ALPAGUT, a smart loitering munition system. It is capable of operating day and night, and it will be effective against mobile or stationary targets, on land or at sea, radar and communication systems, light armored land and sea vehicles, critical facilities such as command centers, personnel, and targets of opportunity. It offers an operational radius of 60 kilometers, an endurance of more than 60 minutes, and can be used individually or in swarm configurations. Hence, the deployment of smart loitering munitions is expected to be a prominent loitering munition market trend over the forecast period.

Buy this research report @: https://www.premiummarketinsights.com/buy/TIP00073794?utm_source=OpenPr&utm_medium=10688

Other Reports:

Miticides Market Key Manufacturers Development Trends and Competitive Analysis 2028- https://www.marketwatch.com/press-release/miticides-market-key-manufacturers-development-trends-and-competitive-analysis-2028-2023-05-22?mod=search_headline

Welfare Management Software Market Trends Top Manufacturers Opportunities and Forecast to 2028- https://www.marketwatch.com/press-release/welfare-management-software-market-trends-top-manufacturers-opportunities-and-forecast-to-2028-2023-05-22?mod=search_headline

Contact Us:

If you have any queries about this report or if you would like further information, please
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email: sales@premiummarketinsights.com

About Us:

Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost-effective research reports and solutions from various publishers.
The market research industry has changed in last decade. As corporate focus has shifted to niche markets and emerging countries, a number of publishers have stepped in to fulfil these information needs. We have experienced and trained staff that helps you navigate different options and lets you choose best research solution at most effective cost.
Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.
We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider. We also offer enterprise subscriptions which provide significant cost savings to our clients.