Global fire control system market is expected to reach USD 113.2 Billion by 2025 at a CAGR of 8.9% during the forecast period from 2018-2025. Growing demand for precision weapon systems and use of improved and modern automatic weapon systems are the two factors leading to the expansion of the market.
A fire-control system is defined as some components, usually a gun data computer, a director, and radar, which work together to help out the weapon system in hitting its target. It carries out the task like a human gunner firing a weapon, but attempts to do so faster and more accurately. Modern fire-control computers, like all high-performance computers, are digital. Fire-control systems are usually interfaced with sensors to reduce the amount of information that must be manually entered to calculate an effective solution. For instance, in July 2018, LONGBOW LLC, a joint venture between Northrop Grumman Corporation and Lockheed Martin, secured a contract worth USD 170.5 million from the US Army for the supply of LONGBOW fire control radars.
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- The base year for the study has been considered 2017, the historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The fire control system market is analyzed by value (USD Billion) and volume ( Thousand Units).
- The study delivers a comprehensive analysis of the global fire control system market by system, platform, range, weapon class, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the fire control system market. This report incorporates the industry analysis which is focused on providing an extensive view of the fire control system market.
- The study also includes attractiveness analysis of system, platform, range, weapon class, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the fire control system market and a comparative analysis based on their business overviews, industry System, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- High demand for precision weapon systems
- Use of improved and modern automatic weapon systems
- Development of advanced combat systems for improved situational awareness
- Rising expenditure on the military department by developing economies to strengthen their respective armed forces.
- Reduction in defense budgets of advanced economies
- High investments on R&D for technological advancements in defense operations
- Involves high operational cost and critical operations
- Progressions in cyber and electronic warfare may obstruct the digital fire control system
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North Americaheld the largest market share of approximately39.20% in 2017.North America is dominating the market due tonoteworthy growth in infrastructural settings in conjunction with the high population growth rate, leading to the increase in demand for fire protection systems.
The major players of market include Elbit Systems Ltd, General Dynamics Corporation, Rheinmetall AG, BAE Systems, Lockheed Martin, Safran, Leonardo, Raytheon Company, SAAB, Aselsan A.S., Northrop Grumman, and Israel Aerospace Industries, among others.