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(CityRegions.Com, September 08, 2021 ) Factors such as increasing military expenditure by emerging economies to strengthen their respective armed forces are expected to drive the market.
The airborne segment is expected to grow at the highest CAGR during the forecast period. Fire control systems play a crucial role in combat aircraft, in hitting targets in air to air missions with accuracy. Across the world, every other fighter aircraft and helicopter is installed with fire control systems. Airborne platforms have evolved to support multi-mission warfare machines capable of conducting a variety of missions. These platforms can be used for command & control, air defense, bombing, air dominance, close air support, reconnaissance, and other roles.
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The launchers segment is expected to lead the fire control system market from 2021 to 2026. Based on weapon class, the fire control system market has been segmented into automatic guns and launchers. The growth of the launchers segment is due to the high adoption land, airborne, and naval platforms for surface-to-air warfare to engage with main battle tanks and other armored fighting vehicles.
The fire control system market has been segmented into short range (0 to 9km), medium range (9 to 80km), and long range (Above 80km). Medium range is expected to grow fast as compared to all, and is extensively used in war zones to help aim targets with maximum accuracy.
The Asia Pacific region is expected to grow at the highest CAGR in the fire control system market during 2021 to 2026 due to increase in military spending by China, India, Japan, and South Korea.
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Key Market Players include Elbit Systems Ltd (Israel), General Dynamics Corporation (US), Rheinmetall AG (Germany), BAE Systems (UK), Lockheed Martin (US), Safran (France), Leonardo (Italy), Raytheon Company (US), SAAB (Sweden), Aselsan A.S. (Turkey), Northrop Grumman (US), and Israel Aerospace Industries (Israel), among others.
Few Points from Table of Contents:
4. Market Dynamics
4.1. Fire Control System Market Drivers
4.1.1.Rising Demand for Precision Weapon Systems
4.1.2.Advancements in Automatic Weapon Systems
4.1.3.Ongoing Military Modernization Programs Worldwide
4.1.4.Development of Advanced Combat Systems for Improved Situational Awareness
4.1.5.Increasing Defense Expenditure of Emerging Countries
4.1.6.Increasing Demand for Remotely-Operated Weapon Stations
4.2.1.Huge R&D Investments for Technological Advancements in Defense Operations
4.3.1.Complexity and High Operational Cost
4.3.2.Integration of Automatic Weapon Systems With A Wide Range of Platforms
4.3.3.Advancements in Cyber and Electronic Warfare Can Render Digital Fire Control System Useless
4.3.4.Highly Complicated and Sophisticated Products
4.3.5.Regulatory Challenges for Sales to Overseas Countries
5. Industry Trends
5.1. Integrated Weapon Systems
5.2. Advanced Gun Systems
5.3. Fire Control System for Rifles
5.4. Fighter Pilot Helmet With Integrated EO/IR
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