Military fire control system market is estimated to witness a CAGR of more than 5% during the forecast period 2018 to 2023.
A military fire control system consists of a number of components, including control, command, communications, computers, and intelligence (C4I); electro-optical/infrared sensors; gun data computer; and overall positioning system. Increase in the terrorist activities and increasing military missions and operations are the major driver driving the market for the military fire control systems market during the forecast period. The automated fir control systems and devices help soldiers to accomplish military operations with higher operating efficiency and better effectiveness. The increasing implementation of automated technology in fire control system by companies will contribute to the growth in military fire control system market.
North America is expected to witness a higher growth owing to a rise in demand for the procurement and development of advanced weapon systems to support military missions and operations across several locations in the region. Europe is anticipated to grow at a moderate rate during the forecast period. The U.K and Germany are the major markets for the military fire control systems in Europe. Increase in the use of automation system in fire control systems is one of the major factor fueling the demand of military fire control systems in Europe. In Asia Pacific, China, India, and Indonesia are expected to be leading market for military fire control system. Border disputes and geopolitical issues are some of the major factor fueling the demand of the military fire control systems market in China and India. Latin America and the Middle East & Africa are estimated to grow at a strong rate during the forecast period. Increase in the terrorist activities and increasing military missions and operations are the major factor driving the demand of the military fire control systems market in the Middle East and Africa.
Recently, Lockheed Martin introduced the Paragon Direct Attack Munition. This all-weather dual-mode precision-guided bomb kit is guided by GPS or Inertial Navigation System (INS) and semi-active laser homing systems and can be fired against both stationary and mobile targets. In May 2018, The U.S. Navy has started its first flight III destroyer. The development of this destroyer is on a first-of-its-kind new surface warfare destroyer armed with better-quality weapons. Moreover, it will consist of advanced sensors and new radar 35-times more sensitive than present systems. The Paragon Direct Attack Munition and flight III destroyer are integrated with fire control system. So, this will boost the military fire control system market in the forecast period.
The key players in Military fire control system market are Elbit Systems (Israel), BAE Systems (U.K), Lockheed Martin Corporation (U.S.), General Dynamics Corporation (U.S.), Safran (France), Rheinmetall AG (Germany), Bharat Electronics Limited (India), Saab AB (Sweden), Leonardo S.p.A (Italy) and Ultra Electronics Group (U.K)
Scope of the Report
This study provides an overview of the global Military fire control system market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC), Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global military fire control system market by its Application, Platform, Component, and Region.
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