fire control system market Players & Forecast Analysis till 2023

[187 Pages Report] The fire control system market is projected to grow from USD 5.9 billion in 2018 to USD 7.3 billion by 2023, at a CAGR of 4.37% from 2018 to 2023. Some of the factors that are expected to fuel the growth of the fire control system market include the increasing military expenditure by emerging economies to strengthen their respective armed forces. Various defense players, such as General Dynamics Corporation (US), Elbit Systems Ltd (Israel), Rheinmetall AG (Germany), Lockheed Martin (US), Leonardo (Italy) and BAE Systems (UK) are focusing on improving the accuracy of Fire Control Systems (FCS), and also on automating fire control systems in weapon systems. In contrast, various advanced economies have reduced their military budgets as a result of economic slowdown.

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Based on platform, the airborne segment is expected to grow at the highest CAGR during the forecast period

Based on platform, the airborne segment of the fire control system market is projected 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.

Based on weapon class, the launchers segment is expected to lead the fire control system market from 2018 to 2023

Based on weapon class, the fire control system market has been segmented into automatic guns and launchers. The growth of the launchers segment in the fire control system market can be attributed 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.

Fire control systems are used in various launchers, such as automatic grenades, missile launchers, rocket launchers, mortar launchers, and torpedo launchers.

Based on range, the medium range (9 to 80km) segment is expected to grow at the highest CAGR in the fire control system market from 2018 to 2023

Based on range, 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 more affordable as compared to the long range, and is extensively used in war zones to help aim targets with maximum accuracy.

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Fire Control System Market: Revenue, Share and Forecast To 2023

The fire control system market report provides an analysis of the market from 2018 to 2023. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities. The fire control system market is projected to grow from USD 5.9 billion in 2018 to USD 7.3 billion by 2023, at a CAGR of 4.37% from 2018 to 2023. The fire control system market in the Asia Pacific is expected to witness substantial growth during the forecast period due to increase in defense expenditure by India and China and the expansion of military capabilities by emerging nations which have accelerated the demand for fire control systems for different platforms such as land, airborne and naval platforms. China is rapidly reforming its military weapons and systems, whereas India recently signed a deal with Russia for the supply of 464 T-90 tanks with fire control systems mounted on them.

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Based on platform, the airborne segment is expected to grow at the highest CAGR during the forecast period due to the procurement of fire control systems that are widely used, such as machine guns, Gatling guns, missile launchers, and rocket launchers that are mounted on different platforms, including attack helicopters, fighter aircraft, and special mission aircraft, among others. Technological advancements in the design of various components of fire control systems are projected to drive the airborne segment of the fire control system market during the forecast period.

Based on weapon class, the launchers segment of the fire control system market is expected to grow at the higher CAGR during the forecast period. These are widely used for surface-to-air warfare, to engage with main battle tanks and other armored fighting vehicles. Naval launchers use torpedoes to combat submarines and ships. Multiple rocket launcher systems are used to defend cruise missiles. The growth of the launchers segment can be attributed to the increasing demand for automatic grenade launchers, missile launchers, rocket launchers, mortar launchers, and torpedo launchers used in various platforms.

Based on system, the target acquisition & guidance systems segment of the fire control system market is expected to grow at the highest CAGR during the forecast period. Increase in demand for advanced fire control radars, sonar, EO/IR, and ballistic computers, among others for modern fire control systems used for various platforms, such as land, airborne, and naval are expected to lead to market growth. These systems are designed to assist weapon systems in striking their targets.

Based on range, the medium range (9 to 80 kilometers) segment is expected to grow at the highest CAGR during the forecast period. The growth of the medium range segment can be attributed to the increasing demand as these provide greater accuracy as compared to long-range artillery systems and are used for the destruction of targets that are in moderate range.

North America is expected to be one of the largest markets for fire control systems in the near future due to the high demand from the US Department of Defense. Fire control systems are integrated into larger advanced weapon platforms for enhanced target acquisition and firing. The demand for unmanned weapon stations has increased in North America, thereby increasing the need for EO/IR and integrated fire control systems. Various US defense companies are manufacturing advanced remote weapon stations with integrated fire control systems. All these factors are leading to an increasing demand for fire control systems in North America.

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Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: newsletter@marketsandmarkets.com