Shoulder Fixed Weapons Market Demand Analysis in 2020, Global Revenue, Top Companies Growth Forecast to 2027
The
global ''shoulder
fixed weapons market size'' is expected to reach USD 7,836.8 million
by 2027, exhibiting a CAGR of 5.74% during the forecast period. The growing
enhancements in defense systems coupled with robust border security will have
an excellent impact on the global market, states Fortune Business Insights, in
a report, titled “Shoulder
Fixed Weapons Market Size, Share & COVID-19 Impact Analysis, By Component
(Launcher [Missile/Rocket Launcher, Rocket Propelled Grenade Launcher and
Tripod] and Ammunition [Anti-tank Missile, Anti-aircraft Missile, Rocket
Propelled Grenade]), By Technology (Guided [Infrared Homing, Laser Guided, and
Semi-automatic Command line-of-sight] and Unguided), By Range (Short, Medium
and Long), and Regional Forecast, 2020-2027.” The market
size stood at USD 6,224.6 million in 2019.
The
coronavirus incident has caused colossal loss to several industries across the
globe. The governments of several countries have instigated lockdown to thwart
the spread of this deadly virus. Such plans have caused disturbances in the
production and supply chain. But, with time and resolution, we will be able to
combat this stern time and get back to normality. Our well-revised reports will
help companies receive in-depth information about every market's present
scenario so that you can adopt the necessary strategies accordingly.
COVID-19 to Harshly Affect the Global Market
Suspended
defense-related contracts have resulted in delayed business for fixed weapons
during coronavirus. The economic downfall in various countries has further
hindered the business for the ammunition industry. Moreover, reduced
investments in the defense sector can dwindle the growth of the market amid
coronavirus. The focus on enhanced healthcare infrastructure and hospital
facilities has simultaneously reduced the spending on military operations,
which, in turn, will dampen the demand for lightweight weapons.
List of the Companies Profiled in the Global Shoulder Fixed
Weapons Market:
- Northrop Grumman
Corporation (US)
- Konstruktorskoye
byuro mashynostroyeniya (Russia)
- Lockheed Martin
Corporation (US)
- Thales Group
(France)
- Saab AB (Sweden)
- KBP Instrument
Design Bureau (Russia)
- Raytheon Company
(US)
- Rafael Advanced
Defense System (Israel)
- MBDA
- BAE Systems (UK)
- JSC SPA Bazalt
(Russia)
- Other Players
Key Market Driver:
Rising Per Capita Spending on Military Operations to Augment
Shoulder Fixed Weapons Market Growth
The
increasing terrorist activities have led to the heavy demand for shoulder fixed
weapons, thus boosting the market. As per the SIPRI Fact Sheet 2020, the global
military spending per capita increased from USD 243 in 2018 to USD 249 in 2019.
The increasing utilization of lightweight, easily portable, and extended range
of weapons by military forces will spur opportunities for the market. For
instance, military and paramilitary forces use lightweight guided weapons for
combat operations due to their agility and other advantages. Furthermore,
increasing military expenditure in developing nations can have a remarkable
effect on the global market. According to, International Institute for
Strategic Studies (IISS), major countries such as the U.S., China, Russia,
Saudi Arabia, and India are top five in military budget spending in 2020.
The report on the market for shoulder fixed weapons features:
- A comprehensive
study of the market
- Essential facts
about prominent players
- Central regions in
the market
- Key drivers and
trends
- Significant
development
- COVID-19 impact
Regional Analysis:
Existing Prominent Companies to Propel Growth in Europe
The
market in Europe is expected to expand exponentially due to the robust
military, navy, air force, and other armed forces. The presence of key players,
such as Saab AB, Thales, and MBDA Holding SAS, will foster the growth of the
market in Europe. European countries, such as Germany, France, and the UK, are
focused on improving military technologies. For instance, in January 2020,
German Federal Office Bundeswehr Equipment, Information Technology and
In-Service Support (BAAINBw) awarded a contract to MBDA for Enforcer missile
systems. It is a precision-guided shoulder-launched weapon system with a range
of 1800m capable of day/night deployment. North America is expected to hold a
dominant shoulder fixed weapons market share during the forecast period.
Key Development:
November 2020: The U.S. Army announced the
replacement of its man-portable air-defense system (MANPADS) and
shoulder-launched Raytheon Stinger missile system. The U.S. army requests the
search for new and fresh systems that must be ideal & capable of defeating
ground attacks on fixed-wing aircraft, rotary-wing aircraft, and unmanned
aerial vehicles.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/shoulder-fixed-weapons-market-105026
About Us:
Fortune
Business Insights™ delivers accurate data and innovative corporate analysis,
helping organizations of all sizes make appropriate decisions. We tailor novel solutions
for our clients, assisting them to address various challenges distinct to their
businesses. Our aim is to empower them with holistic market intelligence,
providing a granular overview of the market they are operating in.
Contact Us:
Fortune
Business Insights™ Pvt. Ltd.
308,
Supreme Headquarters,
Survey
No. 36, Baner,
Pune-Bangalore
Highway,
Pune
- 411045, Maharashtra, India.
Phone:
US
:+1 424 253 0390
UK
: +44 2071 939123
APAC
: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Connect us via Social Media Channels:
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Twitter: https://twitter.com/FBInsightPvtLtd
Comments
Post a Comment