The Global Fire Control System Market size is estimated to grow at a CAGR of around 5.22% during the forecast period, i.e., 2022-27. According to MarkNtel Advisors Study.
Global Fire Control System Market Driver:
Growing Demand for Precision Weapons: 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.
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Key Market Reports Highlights
- Market Dimensions Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Fire Control System Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2021
-Historical Period: 2017 to 2020
-Forecast Period: 2022 to 2027
- 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
- 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
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including - Elbit Systems Ltd., General Dynamics Corporation, Indra Sistemas, S.A., BAE Systems Inc., Lockheed Martin Corp., Safran Group, Ultra Electronics Group, Rheinmetall AG, Leonardo SpA, Northrop Grumman Corporation, L3Harris Technologies Inc, Raytheon Technologies Corp., SAAB AB, Thales Group, Israel Aerospace Industries (IAI) Ltd are looking forward to strengthening their market positions.
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