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The global smart weapons market is valued at $3621 million in 2013 and is expected to register a CAGR of 8.06% to reach $5335.1 million by 2018. The cumulative market across the forecasted period is estimated to be $26.73 billion.
BAE Systems and Lockheed Martin Corp. recently completed a series of successful guided flight tests for 155-mm Long Range Land Attack Projectiles (LRLAP) as part of the on-going qualification test program at White Sands Missile Range in New Mexico.