The fire control system comprises several components such as a gun data computer, a director, and radar which help a ranged weapon to target, track, and hit its target. The fire control system is capable of providing rapid, reliable defense against any environment.
According to MarkNtel Advisors’ research report titled “Global Fire Control System Market Analysis, 2020”, the Global Fire Control System market is anticipated to grow at a CAGR of around 4% during 2020-25. The up-gradation of the armed forces, rising demand for the precision weapon systems, advancement in the automatic weapons, and flourishing government investments for further strengthening of the military sector are several driving forces for the Global Fire Control System market growth.
Mid-Range Products Segment Accounted for the Majority Share
On the basis of range, the mid-range segment dominated the Global Fire Control System market in 2019. The market dominance of this segment is expected to remain steady in the forthcoming years due to the rising inclination of the militaries towards it as it offers high accuracy in targeting as compared to long-range system and has a larger range coverage than a short-range system.
Asia-Pacific Region is Expected to Showcase a Lucrative Growth During 2020-25
The North America region held the lion’s share in the Global Fire Control System market during 2015-2019, due to a rising demand for automotive advance weapons in the region, along with the largest government budget allocation to the defense sector for development and deployment of high-tech arm tools and modernization of armed forces of the nation so as to safeguard the national territory.
However, the Asia-Pacific region is projected to attain the highest growth rate over the coming years, due to an increasingly heavy investment by several nations such as China and India on the significant development of the defense sector, in turn, creating an extended impact on the overall market in the Asia-Pacific region.
According to MarkNtel Advisors, some the of key competitors operating in the Global Fire Control System market include Elbit Systems, General Dynamics Corporation, Indra, Bae Systems, Lockheed Martin, Safran Group, Ultra Electronics, and Rheinmetall AG.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report Global Fire Control System Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecasted up-to 2025.
Q. What are the units or denomination for measuring market value in the report?
A. The market size/industry size or the market value is measured in terms of USD Billion.
Q. What would be the growth rate or CAGR Global Fire Control System Market during 2020-25?
A. The market size of Global Fire Control System Market during 2020-25 is forecast to be around 4%.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that North America region, held the lion’s position in the global fire control system market during 2015-2019, due to the rising demand for automotive, advance weapons. Although, Asia-Pacific region is projected to attain the highest growth rate over the forthcoming years, due to increasing heavy investment by several nations such as China, and India on the development of the defence sector creating an extended effect on the overall Asia-Pacific region.
Q. Who are the key competitors or players operating in Global Fire Control System Market?
A. Elbit Systems, General Dynamics Corporation, Indra, Bae Systems, Lockheed Martin, Safran Group, Ultra Electronics, Rheinmetall AG, Leonardo, Northrop Grumman Corporation and few others are the leading players in the Global Fire Control System Market.
Q. Does the report scope cover country wise market statistics also?
A. Yes, the scope of the report encompasses detailed country statistics such as market size, market segmentation based on various subcategories.
Q. Which range would emerge as an opportunity area for players in Global Fire Control System Market?
A. On the basis of range, the mid-range segment dominated the global fire control system market in 2019. The market dominance by the segment is attributed to moving forward in the forthcoming years owing to its low cost in comparison to the long-range, along with its best suitability for application in the war zones, and combat grounds to target the goal with most efficiency and accuracy.
