01 February 2021
Visiongain has published a new report on Fire Control System Market Report 2021-2031: Forecasts by System (Target Acquisition & Guidance System, Ballistics Computer and Display & Interface Units, Navigation Systems, Power Systems, Others), Platform (Land, Naval, Airborne), Weapon Class (Automatic Guns, Launchers), Range (Short-Range (0-9 Km), Medium-Range (9-80 Km), Long-Range (Above 80 Km)) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Fire Control System Companies AND COVID-19 Recovery Scenarios.
The global fire control system market is projected to witness a CAGR of xx% during the first half of the forecast period i.e., 2021 to 2026 to reach US$ xx million in 2026 from its previous value of US$ xx million in 2021. The global market size is further projected to reach US$ xx million by 2031 at a CAGR of xx% from 2026 to 2031. The overall CAGR for the global Fire Control System market is expected to be xx% from 2021 to 2031.
Growing Usage of Automation Systems is Anticipated to Boost Fire Control Systems Market Growth
Growing usage of automation systems in fire control systems is anticipated to fuel market growth coupled with rising geo-political issues among several economies. According to Visiongain analysis, Asia Pacific dominated the global fire control systems market and is projected to hold maximum market share by 2031. China is the major region contributing to the growth of Asia Pacific fire control systems market. The regional market growth is attributed to border issues and geopolitical issues with its neighbouring economies. Over the forecast period, rising terrorist activities and rising military operations across India, China, and other Asian countries are projected to fuel market growth through 2031.
COVID-19 Impact on Fire Control Systems Market
The convergence of the pandemic, the economic effects of the quarantine steps required to combat the pandemic, and the simultaneous oil price war have put the defence ecosystem under pressure in radically new forms and to an unforeseen degree of intensity. The defence industry is being upended across the globe across about every area of supply and demand. Armed forces are being used in many nations to shore up health, logistics and domestic security systems on a 24/7 basis. A near-term rise in operations and maintenance (O&M) and military staff expenditures would be triggered by these operations.
Some of the companies profiled in the report include General Dynamics Corporation, BAE Systems plc, Leonardo, Northrop Grumman, Rheinmetall AG, ASELSAN A.S, Thales Group, Indra, Raytheon, Saab Group, Lockheed Martin Corporation, WB Group, KMW, and Leidos.
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