Next Generation Weapons Technology Market Estimated to Reach $25.74 Billion, Growing at 6.5% CAGR by 2029
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The next generation weapons technology market size has grown strongly in recent years. It will grow from $18.81 billion in 2024 to $20 billion in 2025 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to growing demand for autonomous weapons, increasing development of directed energy weapons, rising military modernization programs, growing importance of cybersecurity, and increasing use of battlefield robotics.
The next generation weapons technology market size is expected to see strong growth in the next few years. It will grow to $25.74 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing demand for autonomous weapons, a rise in the adoption of electromagnetic railguns, a growth in the use of edge computing in military applications, a growth in military satellite deployments, and increasing military modernization programs. Major trends in the forecast period include the integration of artificial intelligence (AI), the development of hypersonic weapons, a focus on cybersecurity measures, the expansion of electromagnetic weapons, and the adoption of 5G and millimeter wave communications.
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Which Factors Are Contributing Most to the Expansion of the Next Generation Weapons Technology Market?
The rising defense budget is expected to propel the growth of the next-generation weapons technology market going forward. Defense budgets are government-provided funds designated for military activities, including operations, equipment, personnel, and national security efforts. The defense budget is rising to address the urgent need for modernization in military capabilities, ensuring national security and strategic influence through shifting power dynamics. Increasing defense budgets allocate the necessary funds for the research, development, and acquisition of next-generation weapons technologies. This investment drives the development of advanced systems, ensuring military forces remain equipped to tackle emerging threats. For instance, in April 2024, according to the Stockholm International Peace Research Institute (SIPRI), a Sweden-based international research institute, global military spending totaled $2.443 trillion in 2023, reflecting a 6.8% increase compared to 2022. Therefore, the rising defense budgets are driving the growth of the next-generation weapons technology market.
How Is the Next Generation Weapons Technology Market Categorized Based on Key Segments?
The next generation weapons technology market covered in this report is segmented –
1) By Product: Missiles, Munitions, Guided Projectiles, Guided Rockets, Guided Firearms, Directed Energy Weapons
2) By Technology: Laser, Infrared, Radar, Global Positioning System (GPS), Other Technologies
3) By Platform: Air, Land, Naval
Subsegments:
1) By Missiles: Hypersonic Missiles, Cruise Missiles, Ballistic Missiles, Anti-Ship Missiles, Surface-to-Air Missiles (SAM)
2) By Munitions: Smart Bombs, Cluster Munitions, Penetrator Munitions, Airburst Munitions, Non-Lethal Munitions
3) By Guided Projectiles: Precision-Guided Artillery Shells, Smart Mortar Rounds, Laser-Guided Tank Shells, Extended-Range Guided Projectiles, Electromagnetic Railgun Projectiles
4) By Guided Rockets: Laser-Guided Rockets, GPS-Guided Rockets, Air-to-Ground Guided Rockets, Multi-Launch Rocket System (MLRS) Rockets, Swarm-Enabled Guided Rockets
5) By Guided Firearms: Smart Rifles, Computerized Sniper Systems, Fire-and-Forget Small Arms, Tracking-Enabled Machine Guns, AI-Assisted Handguns
6) By Directed Energy Weapons: High-Energy Laser (HEL) Weapons, Microwave Weapons, Particle Beam Weapons, Electromagnetic Pulse (EMP) Weapons, Non-Lethal Directed Energy Weapons
What New Market Trends Are Emerging in the Next Generation Weapons Technology Market?
Major companies operating in the next-generation weapons technology market are focusing on developing advanced remote weapon systems to enable more precise and effective combat capabilities. Remote weapon systems (RWS) are advanced technologies that allow weapons to be operated from a distance, eliminating the need for a human operator at the weapon's location. They enhance military safety and efficiency by enabling target engagement without direct exposure to danger. For instance, in February 2025, Electro Optic Systems, an Australia-based defense technology company, launched the R500, a next-generation remote weapon system (RWS). It enhances precision and adaptability in complex combat environments by integrating AI-driven targeting, high-elevation counter-UAS capabilities, and multi-weapon adaptability. It offers increased lethality, enhanced situational awareness, and greater survivability, making it ideal for armored vehicles and tactical platforms. The system features a high-resolution sensor unit, expanded ammunition capacity, and compatibility with unmanned ground vehicles, reflecting EOS' commitment to equipping defense forces with cutting-edge technology.
Who Are the Leading Market Participants in the Next Generation Weapons Technology Market?
Major companies operating in the next generation weapons technology market are Raytheon Company, The Boeing Company, Lockheed Martin, General Dynamics Mission Systems, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., BAE Systems, Thales Group, Leidos Holdings Inc., Rheinmetall AG, Elbit Systems, Israel Aerospace Industries (IAI), Naval Group, MBDA, General Atomics, AeroVironment Inc., Bharat Dynamics Limited, Electro Optic Systems, Zen Technologies, Hanwha Defense
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Which Regions Are Driving the Highest Demand in the Next Generation Weapons Technology Market?
North America was the largest region in the next generation weapons technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the next generation weapons technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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