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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