A smart bomb is a precision guided munitions designed and developed to achieve smaller circular error portability. The smart bombs reduces the risk of air crews, ordnance spend and collateral damages and increases the damage effectiveness as they can be guided to a particular target and the lethality of these smart bombs against the targets are much more than the unguided bombs. The mechanism of these smart bombs are very different from the conventional bombs as these smart bombs have a triggering device with a time delay systems and a proximity sensor or an impact sensor. As the smart bomb approaches the target, the trigger goes off automatically, initiating the fuse to ignite the explosives resulting in explosion.
The major boosting factor for the smart bombs market is the surging demand for precision munitions or precision bombs. The precision munitions can be guided as per the target and the damaged caused by these munitions or bombs are much more than the unguided. This advantage is increasing the interest among the defense forces across the globe to adopt the smart bombs in order to combat the enemy. Moreover, smart bombs reduces the logistics burden of the military forces as one smart bomb can damage thrice an unguided bomb. The costs involved in logistics of unguided bombs is much higher than that of smart bombs, which is an attractive factor for the defense forces. The reduction in logistic burden with smart bombs is fuelling the market for smart bombs. In addition, modernization of defense forces includes equipping the defense forces with modern weapons and munitions such as smart bombs which in turn strengthen the military forces to combat any enemy attacks. The modernization programs in defense forces are also driving the market for smart bombs across the globe.
The major factor hindering the market for smart bombs is the bomb integration challenge. The smart bombs cannot be fitted to the traditional bomb launchers as they have mechanism for guiding the bomb to the targets. The aircrafts, naval ships, bomb launchers need to be specifically designed to launch the smart bomb so that malfunction of sensors, cameras and other integrated technologies are not hindered. This procedure requires huge investments, which is limiting the developing country’s defense forces to adopt smart bombs.
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The smart bombs market possess a potential growth opportunities in future as the demand for smart bombs is increasing in the developing countries. Countries such as India, South Korea, Vietnam, Australia, Turkey, Israel, and Brazil among others are demanding for smart bombs in order to fight the enemy. Owing to the fact that, the defense expenditure is growing in the developed as well as developing countries, the standardization of weapons and munitions are being carried out heavily. The standardization of weapons includes replacing old munitions with precision munitions, which is expected to drive the market for smart bombs in future.
The market of smart bombs is segmented on basis of guidance, platform and geography. Based on guidance, the smart bombs market is segmented as radio guided bombs, infrared guided bombs, laser guided bombs, GPS, and satellite guided bombs. The laser guided bombs dominate the market followed by satellite guided bombs. Based on platform, the smart bombs market is segmented as airborne and naval based. Geographically, the smart bombs market is categorized as North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The smart bombs market was dominated by North America, followed by Europe. Asia Pacific is the fastest growing region across the globe in the market for smart bombs.
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The manufacturers of smart bombs across the globe are Lockheed Martin Corporation (U.S.), Raytheon Company (U.S.), Bharat Electronics Limited (India), The General Atomics Corporations (U.S.), L-3 Communications Holding Inc. (U.S.), Textron Inc. (U.S.), General Dynamics Corporation (U.S.), Israel Aerospace Industries Ltd. (Israel).