North America Extended Range Munition Market was valued at USD 2.1 Billion in 2022 and is projected to reach USD 3.5 Billion by 2030, growing at a CAGR of 6.1% from 2024 to 2030.
The North American extended range munition market is experiencing significant growth, driven by the evolving requirements of defense industries and advancements in military technology. Extended range munitions (ERMs) are designed to engage targets at greater distances with enhanced precision, providing a strategic advantage in modern combat scenarios.
One notable development in this sector is the U.S. Navy's Long Range Maneuvering Projectile (LRMP) program. Awarded to General Atomics Electromagnetic Systems in December 2024, the LRMP aims to deliver a 155mm artillery projectile capable of exceeding ranges of 120 kilometers. This projectile utilizes foldable wings and advanced guidance systems, enabling it to glide towards targets without auxiliary propulsion. Such innovations address the military's need for artillery systems that can strike distant targets accurately, thereby enhancing operational effectiveness.
Similarly, the M982 Excalibur, a GPS-guided artillery shell, has demonstrated impressive performance with combat ranges reaching up to 36 kilometers. Plans are underway to extend this range further, showcasing the continuous efforts to enhance munition capabilities. The Excalibur's precision and extended reach have made it a valuable asset in various military operations, reflecting the industry's commitment to integrating cutting-edge technology into existing platforms.
From my experience attending defense industry conferences, there's a palpable emphasis on developing propulsion technologies to boost missile range. Discussions often highlight the importance of a diversified approach, considering factors like risk assessment, platform compatibility, and cost-effectiveness. This multifaceted strategy ensures that extended range solutions are tailored to specific operational needs, providing flexibility and adaptability in various combat scenarios.
Northrop Grumman, for instance, emphasizes the necessity of a comprehensive toolkit of propulsion solutions. Their approach includes advancements in solid rocket motors, air-breathing engines, and aerodynamic refinements. Such versatility allows for the customization of munitions to meet diverse mission requirements, ensuring that forces are equipped with the most effective tools for their specific operational contexts.
However, the industry faces challenges, notably the high costs associated with developing advanced munitions and navigating stringent regulatory environments. Balancing innovation with affordability and compliance is a complex task that requires strategic planning and collaboration among defense contractors, regulatory bodies, and military stakeholders.
In summary, the North American extended range munition market is rapidly evolving, propelled by technological advancements and the pressing needs of modern defense strategies. As military operations demand greater precision and reach, the development and integration of extended range munitions remain a top priority for the defense industry.
North America Extended Range Munition Market
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Raytheon Company
Rheinmetall AG
Elbit Systems
EXPAL Systems
BAE Systems
Alliant Techsystems Inc.
Lockheed Martin
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the North America Extended Range Munition Market
National Defense
Military
Based on Types the Market is categorized into Below types that held the largest Extended Range Munition market share In 2023.
Extended Range Unguided Munitions
Extended Range Guided Munitions
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the North America Extended Range Munition Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. North America Extended Range Munition Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America Extended Range Munition Market, By Type
6. North America Extended Range Munition Market, By Application
7. North America Extended Range Munition Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America Extended Range Munition Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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