26 March 2021
Visiongain has published a new report on Shoulder Fired Weapons Market Report to 2031: Forecasts by Technology (Guided and Unguided), by Component (Launcher and Ammunition), and Range (Short Range, Medium Range, and Extended Range). PLUS, Profiles of Leading Pharma Contract Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Shoulder Fired Weapons market was valued at US$ xx billion in xx and is projected to reach at a market value of US$ xx billion by 2031.
COVID-19 Impact on Shoulder Fired Weapons Market
Coronavirus pandemic has resulted in obstructing the movement of goods and individuals across the globe. Owing to closure/restricted movements across international borders, there has arisen a challenge in gaining cross-border information for the forces. This is expected to give rise to unprecedented attacks, which is driving the demand for counter-measure weapons such as shoulder fired weapons across the globe.
Need for New-Generation Anti-Tank Weapons
Modern age warfare weaponry such as advanced tanks are loaded with Explosive Reactive Armor (ERA) technology to provide efficient safety against the traditional charged weapons, for instance, High Explosive Anti-Tank (HEAT) used for Anti-Tank Guided Missiles (ATGMs). The armour protects the tanks’ critical ceramic armour plates from the rocket-propelled armaments and ATGMs. Continuous developments in upgrading the armour technology have made raised the demand for next generation anti-tank weapons.
Demand for Lightweight Guided Weapons
A shoulder-fired weapon, for instance, shoulder-fired missile is an explosive-carrying, self-propelled missile deployed at the target. Shoulder-fired weapon is quite portable to be supported by a single person and used while carrying it on the shoulder.
This guided shoulder-fired weapon is expected to grow high in demand during the forecast period, mainly propelled by the upgradation and transformation programs, for instance, increasing use of advance guidance systems, procurement of new fire-and-forget missiles, among others.
Growing Demand for Shoulder Fired Weapons in Emerging Nations
When developed countries are reducing their defense budgets, the developing nations across the globe are following an upward trend in acquiring advanced weaponry. For instance, China, India, and other prominent nations are increasing the expenditure on defense on a year-on-year basis. For protecting their borders and to remain ahead of other nations in the region, the countries are continuously increasing their spending in the defense sector. Rising tensions among various countries in Asia and the Middle East are also driving the demand for shoulder-fired weapons in these regions.
Need for Weapons to Fight Terrorism
Terrorism has become a grave danger for nations all across the globe. Many citizens have lost their lives or possessions due to terrorist attacks across the world. In 2017, it was responsible for .05% of global deaths. The shoulder-fired weapon is portable, yet very effective in damaging the terrorist bunkers or shelters. The growing security needs and protection against terrorist activities are anticipated to bolster the growth of shoulder fired weapons over the forecast timeframe.
The market for shoulder-fired weapons is fragmented. Companies usually partner with local firms to expand their market existence by securing new contracts with the particular countries.
Some of the companies profiled in the report include Saab AB, Lockheed Martin Corporation,BAE Systems, Raytheon Technologies Corporation, General Dynamics Corporation, MBDA, Rafael Advanced Defense Systems Ltd., Rheinmetall AG, ROKETSAN, and Bharat Dynamics Limited.
• In 2017, Saab AB secured a contract worth USD 14.3 million from the Swedish Defence Material Administration (FMV) for the supply of Carl Gustaf ammunition.
• In 2016, Rafael Advanced Defense Systems Ltd. secured a contract worth USD 1.0 billion from India for the supply of 5,500 Spike missiles and 275 Command Launch units.
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