Market Research Future (MRFR)’s analysis has revealed that the global automated weapon system market is projected to strike a healthy CAGR of 5% during the forecast period 2018 to 2023.
Market Synopsis:
The governments are keen on adopting automated weapon systems as it minimizes casualties and deaths. An upsurge in demand for advanced defense solutions is expected to dominate the future trajectory of the market.
Key Players:
Some of the key players profiled in this report are Lockheed Martin Corporation (U.S.), Saab AB (Sweden), Israel Aerospace Industries Ltd. (Israel), Northrop Grumman Corporation (U.S.), Boston Dynamics (U.S.), BAE Systems, Inc. (U.K), Turkish Aerospace Industries, Inc. (Turkey), Aerovironment, Inc. (U.S.), General Dynamics Corporation (U.S.), and Thales Group (France).
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Innovation is one of the major factors responsible for the growth of the arms & ammunitions industry. For instance, the advent of drones and unmanned aircraft systems have paved the way for the adoption of automated weapon systems. In addition, the rising threat of terrorism and militancy is motivating the governments to expand their defense budgets. It is presumed to augment the automated weapon system market over the assessment period.
The expanding market presence of artificial intelligence has penetrated the defense sector. Its reliability is likely to encourage the governments to upgrade its strength for security and surveillance. In addition, the increasing naval activities are also forecasted to have a favorable impact on the expansion of the automated weapon system market. For instance, the South China Sea dispute among China and its neighboring countries have unleashed immense opportunities for the automated weapon system vendors.
Factors influencing the growth of the market for automated weapon systems are the increasing government initiatives and investments towards security concerns, advancements in defense solutions, along with innovations taking place in the arms & ammunitions industry. The expansion of advanced technologies such as artificial intelligence (AI) is also expected to contribute to the global market for automated weapon systems over the forecast period.
Segmental Analysis:
The market for automated weapon system has been segmented based on the type, platform, and payload. The types of automated weapon systems available in the global market are combat drones, homing missiles, radar-guided, stationary sentry guns. Based on the type, the combat drone is extensively used and is anticipated to account for the largest market share owing to the rise in investments on the unmanned aerial vehicle front.
By type, the automated weapon system market has been segmented into radar-guided, homing missiles, stationary sentry guns, and combat drone.
By platform, the global automated weapon system market has been segmented into autonomous, and semi-autonomous.
By application, the automated weapon system market has been segmented into airborne, naval, and ground-based.
Regional Analysis:
Based on the region, the market has been segmented into North America, South America, Asia Pacific, Europe, and the middle east and Africa.
The North American region is the largest market for automated weapon systems and is estimated to maintain its dominant market share over the review period. This growth can be attributed to the higher investments and strategic business growth plans made by the key players present in the region. The growing adoption of sentry guns and radar-guided missiles by the defense sector of North American countries such as the U.S. and Canada, is likely to fuel the market growth. Moreover, continually advancing technology and its rapid adoption are expected to drive the market over the forecast period.
Europe is considered the second-largest region in the global automated weapon systems market and is expected to acquire a substantial market share over the evaluation period, owing to the established defense organizations, need for advanced military apparatus, and the higher implementation of technology advancements in developed countries such as Germany, France, the U.K., among others.
The Asia Pacific is assessed as the fastest-growing region of the global automated weapon system market in the foreseeable period. Factors such as the rising need for advanced defense apparatus in order to protect and prevent cross-border terrorism, border turmoil, and other security threats, are majorly driving the market for automated weapon systems in the region. Developing countries such as India as well as China are expected to contribute momentously to the demand over the review period.
The Middle East and Africa region is accounted for the smallest market share of the global automated weapon system market but is estimated to witness gradual growth over the evaluation period. This is credited to the political unrest and security threats in certain parts of the middle east and Africa.
Industry News:
In January 2019, the U.S. government donated 40 new field artillery ammunition support vehicles and 60 howitzers to the Brazilian Army.
In January 2019, MBDA, a European developer and manufacturer of missiles, has demonstrated the anti-surface capabilities of the Mistral missile using a SIMBAD-RC automated naval turret.
In September 2018, the Russian government has announced that it would supply sophisticated S-300 air defense systems to the Syrian army. It would also equip Syrian air defenses with an automated control system for enhanced efficiency.
In March 2018, Russia has announced its plan of working on robotized multiple launch rocket systems for hitting drones and helicopters.
Table of Content:
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
Continued. . .
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