Automatic Weapons Market worth $8.7 billion by 2023 - PowerPoint PPT Presentation

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Automatic Weapons Market worth $8.7 billion by 2023

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The automatic weapons market is projected to grow from USD 6.0 billion to USD 8.7 billion by 2023, at a CAGR of 7.82% from 2018 to 2023. This growth can be attributed to the increasing incidences of armed conflicts, war, and terrorism, which are driving the demand for automatic weapons globally. – PowerPoint PPT presentation

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Title: Automatic Weapons Market worth $8.7 billion by 2023


1
Automatic Weapons Market worth 8.7 billion by
2023
According to the new market research report
"Automatic Weapons Market by Product (Automatic
Rifle, Machine Gun, Automatic launchers,
Automatic Cannon, Gatling Gun), End Use (Land,
Airborne, Naval, Handheld Stationary), Caliber
(Small, Medium, Large), Type, and Region -
Global Forecast to 2023", The automatic weapons
market is projected to grow from USD 6.0 billion
to USD 8.7 billion by 2023, at a CAGR of 7.82
from 2018 to 2023. This growth can be attributed
to the increasing incidences of armed conflicts,
war, and terrorism, which are driving the demand
for automatic weapons globally. Download PDF
brochure _at_ https//www.marketsandmarkets.com/pdfd
ownloadNew.asp?id197447555
Based on end use, the naval segment is expected
to lead the automatic weapons market during the
forecast period. Based on end use, the automatic
weapons market is estimated to be led by the
naval segment from 2018 to 2023. Automatic
weapons on naval platforms are multi-configurable
and can be mounted on Close-in Weapon System
(CIWS), a fully automatic system that can search,
detect, and evaluate the threat and track,
engage, and destroy targets on its own.
Countries such as the US, Russia, and China are
investing more in automated technologies and
focusing on manufacturing a wide range of
offensive weapons systems. For instance, in
January 2018, BAE Systems was awarded a contract
worth USD 46.8 million by the US Navy to upgrade
the existing MK45 naval guns to increase the
firepower and extend the range of the
weapons. The automatic rifles segment is
projected to grow at the highest CAGR during the
forecast period. The automatic weapons market
has been analyzed and segmented based on product
into automatic rifles, machine guns, automatic
launchers, automatic cannons, and Gatling guns.
The automatic weapons market is led by the
automatic rifles segment and also projected to
grow at the highest CAGR during the forecast
period. Fully-automatic automatic rifles allow
quick succession of firing of bullets. There have
been significant developments in the
conventional automatic rifles prototype design.
Next Generation Squad Automatic Rifle (NGSAR)
are the example of modern automatic rifles.
Textron systems, FN America, General Dynamics, Si
Bauer and PCP Tactical are developing prototypes
for the Army's Next Generation Squad Automatic
Rifle to replace the M249 Squad Automatic Weapon
currently used. Asia Pacific is projected to be
the next opportunistic market for automatic
weapons. The rapid growth of the automatic
weapons market in Asia Pacific can be attributed
to the increasing defense budgets to innovate
and develop robust precision weapon systems by
emerging countries, such as China and India. For
instance, India-based companies, such as Mahindra
Defense Systems and Bharat Electronics, recently
launched their newly developed remote weapon
stations for armored vehicles.
2
China is estimated to account for the largest
share of the Asia Pacific automatic weapons
market in 2018. This rapid growth can be
attributed to the increasing research
development activities undertaken in the region
for the development of advanced technology-based
designs of remote weapon stations. Companies
such as General Dynamics Corporation (US),
Northrop Grumman (US), Rheinmetall AG (Germany),
ST Engineering (Singapore), KBP Instrument Design
Bureau (Russia), Heckler Koch AG (Germany), FN
Herstal (Belgium), Colts Manufacturing Company
LLC (US), Israel Weapon Industries (Israel),
NORINCO (China), Denel Land Systems (South
Africa), Kalashnikov Concern (Russia), BAE
Systems (UK), Barrett Firearms Manufacturing
(US), and Ukroboronprom (Ukraine) are some of the
leading players have made significant
contribution to the global automatic weapons
market. Dont miss out on business opportunities
in Automatic Weapons Market. Speak to our analyst
and gain crucial industry insights that will
help your business grow. About
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