The global smart bullets market is largely consolidated with top six players, namely Lockheed Martin Corp., Boeing, Northrop Grumman Corp., BAE Systems, and General Dynamics Corp. holding more than 60% of the market in 2016, says a new research report by Transparency Market Research (TMR).
With keen players focused on product innovation and technological advancements to boost their market presence, competition within this market is expected to intensify in the upcoming years, says the report.
As per estimates presented in a report by Transparency Market Research, the global smart bullets market will expand at a healthy CAGR of 15.20% for the forecast period between 2017 and 2025. Progressing at this pace, the market’s valuation of US$270.4 mn in 2015 will become US$955.4 mn by the end of the forecast period in 2025.
Request Sample For More Information@
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=23873
Larger Defense Budget to Maintain North America’s Dominance
Amongst all, in 2016, the land segment stood as the leading end user with a share of 43.6% in the smart bullets market. Analysts estimate the land segment to retain its dominant position over the forecast period, thanks to the increasing military and defense budgets in emerging economies for the development of smart weapons.
North America, closely trailed by Europe dominated the overall market in 2016 accounting for more than 42% share. Europe is also a key market for smart bullets. The demand in the region is driven by significant budget from the government in countries such as the U.K., France, Russia, and Germany for the development of smart weapons.
Request For Custom Research Report@
https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=23873
Integration of Technologically Advanced Weapons in Defense Operations Drives Growth
The increasing defense budget of several countries around the world is heavily influencing the global smart bullets market. Developed economies such as the U.S., France, and the U.K, along with swiftly advancing economies such as India and China as well as are increasingly integrating smart bullets in their defense operations.
Smart bullets find significant usage in airborne, land, and naval weapons. The land segment emerged as the leading end user for smart bullets in 2016 with a share of 43.6%. Researchers anticipate the scenario to remain so over the forthcoming years, thanks to the increasing investments in the military and defense sector for the development of smart weapons in developing economies. Over the next few years, the presence of war-like situations in various countries, such as Turkey, Ukraine, Lebanon, China, India, France, Afghanistan, and Pakistan, is likely to increase the overall demand for smart bullets, reflecting positively on this market.
Massive increase in defense budgets of military organizations of several governments worldwide is fuelling the smart bullets market. As the name suggests, smart bullets are integrated with avant-garde technology that enables targeting with higher precision. In addition, smart bullets are automated that reduces human intervention, thereby enables to target with high precision. Such advantages fuels the smart bullets market.
Read Latest Press Release Here@ https://www.prnewswire.com/news-releases/rising-energy-efficiency-measures-across-varied-end-users-to-bring-phenomenal-growth-opportunities-in-the-photonics-market-during-the-tenure-of-2020-2030-tmr-301250253.html
North America is the fore among other key regions in the smart bullets market. The region being home to some established players, along with wide prevalence of technology are favorable to the growth of smart bullets market in the region. Europe is another key region in the smart bullets market. Developed countries of the region such as Germany, France, and the U.K. are upgrading their defense capabilities for national security. This includes smart weapons such as smart bullets.
0 comments:
Post a Comment