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Fire Control System Market in Target Acquisition & Guidance Systems Segment is Expected to Account a Considerable Share By 2025

Author : Ronak Bora | Published Date : 2019-05-28 

Global Market Insights added a report on global Fire Control System Market that provide in-depth information about market overview, top vendors, Key market highlights, product types, market drivers, challenges, trends, industry landscape, size and forecast, five forces analysis, Key leading countries/Region.

Based on system, the fire control system market is segmented into target acquisition & guidance, ballistic computers, navigation, and power. Target acquisition & guidance systems will account for a considerable share over the projected timeframe owing to the development of lightweight and compact target acquisition systems by industry players. Incorporation of inertial sensors and higher adoption of these systems by military forces to enhance the nation security are further supporting the segment penetration.

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Based on platform, the fire control system market is categorized into land, airborne, and naval. Naval segment is expected to account for a considerable share on account of rising terrorism activities on seas globally. Moreover, industry players are entering into strategic contracts with government organizations for supporting their equipment. For instance, in October 2016, Lockheed Martin announced a strategic agreement with the U.S. Navy for providing logistics and engineering support for the MK 92 Fire Control Systems.

Rising demand for light weight fire control systems are positively influencing the fire control system market over the projected timeframe. Moreover, the enhanced operation of these systems at night along with superior vision and enemy locking and targeting capabilities owing to the presence of a telescope. Moreover, increasing investments from major economies for procuring and developing fire control systems are further expanding the industry share. For instance, in January 2019, Thailand announced the procurement of main battle tanks from China with superior fire control technologies.

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Fire Control System Market is anticipated to achieve lucrative growth rate from 2019 to 2025 pushed by increasing terrorist activities along with an upsurge in military and naval operations across borders to enhance national and international security. Rising defense budgets globally along with modernization of ageing equipment are further expanding the industry share over the projected timeframe.

The benefits offered by the fire control systems including rapid target engagements, improving situational awareness along with improved gun crew survival are attracting military and naval forces globally to deploy such systems. Moreover, superior operational efficiency along with higher system accuracy to attack targets and enemies further expands the fire control system market share over the projected timeframe.

Incorporation of advanced sensors and tools for felicitating automated fire control operations and trajectory correction are boosting the fire control system market. Moreover, industry players are offering customized and advanced fire control systems for complying to the requirements of military. For instance, in March 2019, Leonardo entered into a strategic contract with the U.S. Army to offer vehicle-based infrared sensors for fire control systems and surveillance for a wide range of ground combat vehicles.

Asia Pacific fire control system market share will grow considerably on account of rising defense expenditure across the region. For instance, the Chinese government increased its defense budget growth target up to 7.5% in 2019. Moreover, countries are also engaged in procuring modern equipment to improve their military operations significantly. For instance, in April 2019, the Indian government signed a strategic contract with Russia to procure 464 T-90 tanks with advanced fire control systems.

Few of the prominent players in the fire control system market share include Raytheon Company, BAE Systems, Safran, General Dynamics Corporation, Lockheed Martin, Rheinmetall AG, Leonardo, Aselsan A.S., and Elbit Systems Ltd. Manufacturers are signing long term contracts with countries to provide fire control systems and increase their revenue share. For instance, in January 2019, the Raytheon Company announced a deal with the U.S. Navy to provide MK 99 fire control systems.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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