The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Fire Control System Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Fire Control System Industry Analytical Overview (2022-2027): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, Fire Control System market is estimated to grow at a CAGR of around 5.22% during the forecast period, i.e., 2022-27. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2022 to 2027.
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What is Included in Fire Control System Market Segmentation?
The report has segmented the market into the following categories:
By System
- Target Acquisition & Guidance System
- Fire Control Radar
- Sonar
- Rangefinder
- Ballistics Computer & Display & Interface Units
- Navigation Systems
- Power Systems
- Auxiliary Systems
- Stabilization Systems
- Others
By Platform
- Land
- Main Battle Tanks
- Armored Fighting Vehicles (AFV)
- Light Protected Vehicles (LPV)
- Multiple Rocket Launcher Systems(MRLS)
- Unmanned Ground Vehicles
- Artillery Systems
- Air Defense System
- Howitzers
- Mortars
- Naval
- Destroyers
- Frigates
- Corvettes
- Oshore Patrol Vessels (OPV)
- Amphibious Ships
- Submarines
- Unmanned Surface Vehicles (USVs)
- Airborne
- Attack Helicopters
- Fighter Aircraft
- Special Mission Aircraft
By Weapon Class
- Automatic Guns
- Rifles
- Machine Guns
- Gatling Guns
- Autocannons
- Launchers
- Automatic Grenade Launchers
- Missile Launchers
- Rocket Launchers
- Mortar Launchers
- Torpedo Launchers
Among the two, the Launch-based systems are expected to retain a sizeable market share in the fire control system in the forecast period. Launch systems such as multi-barrel rocket launchers, missile launchers, and grenade launchers provide long-range firepower to the militaries, helping in eliminating enemy targets. The demand for launchers has gained momentum with the growing need for both offensive & defensive capability missile systems across the globe. Both ballistic & cruise categories of missile technologies have undergone massive technological advancements leading to achieving a high degree of precision, long-range, as well as enhanced delivery of payload.
By Range
- Short Range (0-9 Km)
- Medium Range (9.1-80 Km)
- Long Range (Above 80 Km)
By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
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Key Factor Driver Fire Control System Industry Growth by 2027
The demand for precision weapons is increasing, owing to various factors such as rising expenditures on defense, increasing terrorism, and increasing border conflicts. These weapons are designed to attack the intended target precisely & reduce collateral damage. They are used for air, ground & land operations. Additionally, the governments of developed countries such as the US, Russia, etc., invest heavily in modernizing defense platforms. Thus, manufacturers are shifting towards developing precision weapons.
- In 2021, EDGE Group secured a USD880 million contract from the UAE Armed Forces to supply precision-guided weapons.
Furthermore, precision-guided munitions comprise various weapons such as KM-8 Gran & Kitolov-2M, equipped with fire control systems. Thus, growing emphasis on reducing collateral damage would increase the demand for precision weapons, thereby enhancing the market for the fire control system.
Who are the Key Players Operating in the Fire Control System Industry?
The top companies of the Fire Control System market ruling the industry are:
- Elbit Systems
- General Dynamics Corporation
- Indra
- Bae Systems
- Lockheed Martin
- Safran Group
- Ultra Electronics
- Rheinmetall AG
- Leonardo
- Northrop Grumman Corporation
- L3 Harris
- Others
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FAQs (Frequently Ask Questions)
- What are the industry’s overall statistics or estimates including CARG and USD Value of the forecasting years?
- What are the trends influencing the current scenario of the Fire Control System Market?
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- Which geographical area dominates the Fire Control System industry?
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