The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Remote Controlled Gun Systems market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Remote Controlled Gun Systems
The report offers actionable and valuable market insights of Remote Controlled Gun Systems. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Remote Controlled Gun Systems Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Remote Controlled Gun Systems, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Remote Controlled Gun Systems Market.
Globally, geopolitical tensions are escalating rapidly and with that, demand for military equipment and adoption of remote weapon systems is also ramping up. As of 2018, the global military expenditure rose to US$ 1.8 trillion, predominantly in countries such as China, India, Russia, and the US. Remote weapon systems are being installed on ground combat vehicles or sea and air-based combat platforms.
Owing to the increase in the military spending and adoption of remotely-operated weapon systems in many countries, the demand for remote weapon systems will skyrocket in the coming years. Fact.MR, in its latest research, projects that in the component category, the weapon segment will foresee two-fold growth by 2029, which further pushes the global remote weapon system market to the US$ 22 Bn mark by the end of the forecast period.
Key Takeaways of Global Remote Weapon System Market
- Based on platform, the remote weapon system market was led by the ground force segment in 2018, contributing 40% of the market share and is expected to continue its hegemony through 2029.
- The remote weapon system market is led by the weapon segment which exhibited two-fold growth in revenues vis-a-vis the Human Machine Interference segment in 2018. The sensors segment is projected to grow at the highest CAGR of 12.3% during the forecast period.
- In the technology segment, there will be close competition in terms of value between Close-in Weapon Systems, and Remote Controlled Gun Systems in the coming years
- According to Fact.MR, the Chinese and Indian remote weapon system market is foreseen to witness rapid growth throughout the forecast period, and is set to contribute 30% of the global revenue share in 2019
“Various economies around the world are rapidly replacing older technologies and weapons with a seismic shift towards modern equipment and are investing more in adopting remote weapon systems,” Says the Fact.MR analyst.
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Ongoing Military Modernization Programs to Catalyze Market Growth
Developed and developing economies have witnessed a number of armed conflicts at both intrastate and interstate level. Some of the wars are also impacting the global economy, for instance, civil war in Syria, and a war against the Taliban in Afghanistan. These conflicts are resulting in high investments in military endeavors. Owing to a sharp rise in spending for modernization of armored vehicles, the demand for remote weapon systems will increase rapidly over the next few decades. For instance, in 2018, Kongsberg, a manufacturer of high-technology systems for the defense, signed a contract of US$ 1.9 bn to supply Medium-Caliber Turret to the Qatar military.
Key Segments of the Remote Weapon System Market
Fact.MR’s study on the remote weapon system market offers information divided into six important segments— component, technology, platform, weapon, mobility and region.
This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
|Component||WeaponsHuman Machine InterferenceSensor Module|
|Technology||Close-in Weapon SystemsRemote Controlled Gun SystemsOthers|
|Platform||Ground ForcesMarine ForcesAerial Forces|
|Weapon||Lethal WeaponsNon-Lethal Weapons|
|Region||North AmericaLatin AmericaEuropeEast AsiaSouth AsiaMEAOceania|
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More Valuable Insights on Remote Controlled Gun Systems Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Remote Controlled Gun Systems, Sales and Demand of Remote Controlled Gun Systems, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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