Page 27 - ADT NOV - DEC 2024 Digital Magazine | GBP

THE GO-TO CHOICE

The jury is still out on its effectiveness in a digital battlefield, but

precision-guided munitions (PGMs) are quite the rage in military circles

By ARUN SIVASANKARAN
W ith modern wars not PGMs are susceptible to electronic and loitering munitions, the GPS

segment is expected to grow at a
warfare (EW) attacks, but analysts
leaving even popu-
lated areas untouched, expect companies to come up with
precision-guided munitions (PGMs) improved versions that can better CAGR of 8%.
have come to occupy a pride of withstand such challenges. While the market for PGMs in North
place in the modern digital bat- America is expected to expand, the
tlefield and are now the weapon Promising Outlook Asia pacific is expected to become
of choice for militaries across the the dominant region, growing at a
world. As militaries show an undying CAGR of 7.2% during the forecast
thirst for smart weapons, many period. China’s growing military
defence firms are working over- ambitions in the region and its
According to reports, satel- time to meet demand. Lockheed
lite-guided bombs of between 1,000 Martin, BAE Systems, Raytheon, territorial disputes with nations like
and 2,000 pounds made up about MBDA, Israel Aerospace Industries, India, Taiwan, Indonesia, Vietnam,
90% of the weapons the Israeli mili- SAAB, General Dynamics, Northrop and South Korea will boost demand
tary used in the first two weeks after Grumman and Rheinmetall still hold for PGMs and drive market expan-
the ongoing Gaza war broke out sway, but the market has become sion. The market in Europe is
on October 7 last year. Although increasingly competitive with the expected to grow at a CAGR of
the increasing number of civilian entry of new players. According to 5.8%, the report adds.
casualties in ongoing conflicts prove Straits Research, the global PGM
that PGMs are yet to truly live up Market size, valued at US$38.10 Living Up to Its Name
to their name, their accuracy is on billion in 2024, is projected to reach In July this year, Israel signed an
the way up as the defence sector US$ 40.19 billion in 2025, and US$ order in July worth over US$220
increasingly embraces advanced 61.69 billion by 2033, growing at a million for thousands of “Iron Sting”
technologies such as artificial CAGR of 5.50% during the fore- precision-guided munitions (PGMs)
intelligence (AI), big data analyt- cast period. With global positioning from Elbit Systems. Launched from
ics, and interconnected sensors. system (GPS) an integral part of a 120 mm mortar, Iron Sting PGMs
Ongoing conflicts have proved that
PGMs such as missiles, rockets, weigh 17 kg, have a range of up
ASIAN DEFENCE TECHNOLOGY NOVEMBER - DECEMBER 2024 | 27