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Global Shoulder-Fired Weapons Market 2019-2023 | Growth Analysis and Forecast | Technavio

March 14, 2019
The global shoulder-fired weapons market will post a CAGR of nearly 6% during the period 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--Mar 14, 2019--The global shoulder-fired weapons market research report by Technavio predicts the market to post a CAGR of nearly 6% during the period 2019-2023.

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The global shoulder-fired weapons market will post a CAGR of nearly 6% during the period 2019-2023. (Graphic: Business Wire)

A key driver for the global shoulder-fired weapons market will be the demand for new generation anti-armor and anti-aircraft protection. Evolution of battlefield environment has necessitated upgradation and customization of armament. The US Army has been considering including short-range air-defense capabilities in brigade combat teams. The emergence of unmanned aerial systems (UASs), cruise missiles, and long-range rockets (LRRs) pose a threat that is required to be addressed with capable systems. This has resulted in the US Army prioritizing SHORAD and reactivating units back to this core competency. However, the procurement of these systems is yet to be facilitated through an intergovernmental contract.

As per Technavio, the growth in battlefield digitization will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global shoulder-fired weapons market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

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Global shoulder-fired weapons market: Growth in battlefield digitization

To achieve complete situational awareness and perfect synchronization between sensors and responders in a fast-paced mobile environment, network-centric warfare ensures a thorough integration of sensors, communication networks, command centers, and associated platforms. Also, the electro-optic systems on land are observed to be useful in tracking armored vehicles and low-observable missiles, which helps platoons to strategize their approach.

“Technology upgrade for the modern shoulder-fired weapons has resulted in increased situational awareness. Modern versions of prominent shoulder-fired weapons are usually equipped with multiple new technologies such as dual-mode seeker and identification friend or foe systems. Such enhancements will promote the adoption of advanced shoulder-fired weapons by global forces,” says a senior research analyst at Technavio.

Global shoulder-fired weapons market: Segmentation analysis

This shoulder-fired weapons market analysis report segments the market by technology (unguided and guided), product (ammunition and launcher), and geography (APAC, Europe, MEA, South America, and North America).

The ammunition segment held the largest shoulder-fired weapons market share in 2018. This is because of the rapid adoption of shoulder-fired weapon systems as they require ammunition to ensure long-term and reliable operation of the weapon.

North America accounted for the highest share of the market in 2018. The US is the pioneer of shoulder-fired weaponry in this region and projects military dominance owing to steady growth in the procurement of advanced weapon systems. The changing nature of warfare is encouraging US DoD’s increased spending toward better weapons.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base includes enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE: Technavio Research

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PUB: 03/14/2019 10:04 AM/DISC: 03/14/2019 10:03 AM