The land based defense equipment market consist of sale of land based defense equipment by entities producing land based defense equipment including support and auxiliary equipment for the land defense activities such as radar, satellites, and sonars the sector further includes equipment associated to the manufacturing of missiles, tanks, rifles, explosives, pistols, guns, armoured vehicles, field guns, non-gun powder weapons and rocket launchers. The new and advanced rifles are now being increasingly being used in the defense industry having a steel hinge allowing gun’s frame to bended around the corner to attack target without exposing the shooter. These rifles assist shooters help shooters for navigating around corners by a high-resolution camera and the LCD monitor. The corner shot rifles are further used around the armored vehicles and tanks allowing 360-degree field cover by which a triggerman can be placed safely inside the vehicle. The weapon is accurate and effective upto 100 to 200 meters depending on type of weapon.
According to the study “Land based Defense Equipment Manufacturing Global Market Report 2019” the key companies operating in the global land based defense equipment manufacturing market include Raytheon Co, BAE Systems, General Dynamics Corp, Northrop Grumman Corp, Lockheed Martin Corporation, Воеіng, Gіаt Іnduѕtrіеѕ, Сhіnа Nоrth Іnduѕtrіеѕ Соrp., Urаlvаgоnzаvоd. The companies have developed the advanced technologies and launched new products for staying competitive in the market. The other key competitive strategies further include mergers & acquisitions and new product developments.
Based on type, land based defense equipment manufacturing market is segmented into tanks, missiles, armored vehicles, guns, non-gun powder weapons and others. Based on operation, market is segmented into manual land based defense equipment and autonomous land based defense equipment. Manual land based defense equipment is further sub-segmented into combat vehicles and combat support vehicles. Additionally, autonomous land based defense equipment segment is further sub-segmented into short range land based defense equipment, medium range land based defense equipment, intermediate range land based defense equipment, intercontinental land based defense equipment and others. Based on weight of weapons, market is segmented into light weight weapons, medium weight weapons and heavy weight weapons. In addition, based on application, market is segmented into defense, military and others.
The land based defense equipment manufacturing market is widely driven by the rise in government spending over research & development (R&D) activities, followed by growth in the technological innovation & progression which further led to increase in wide scale increase in security concerns among nations.
Based on geography, the Asian-Pacific region holds the major share over the land based defense equipment manufacturing market owing to rise in military expenditure with exhaustive investments and the North-American and European regions expected to witness significant growth rate owing to increase in trends in technological advancements over the forecast period. The ever increasing in the geopolitical tension within Gulf countries have further promoting the military expenditure, and market value. Different government initiatives adding strength the defense fleet and upgrading on existing fleet supporting the market growth over the forecast period. The demand for maintenance & support operation owing to rise in advanced for the support equipment to drive market over forecast period.
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Ankur Gupta, Head Marketing & Communications