Man-portable Anti-armor Weapons Market Progresses for Huge Profits During 2025
The
global market for man-portable anti-armor weapons features a largely
consolidated vendor landscape wherein the top four vendors
cumulatively accounted for a massive 58% of the overall market in
2016, observes Transparency Market Research (TMR) in a recent report.
Despite the stronghold of few leading vendors in the market, many
small- and medium-scale companies have thrived across key regional
markets, positioning themselves as strong competitors to
international entities in key regional pockets such as thriving
emerging economies in Asia Pacific.
View
Report:
Leading
players in the market pursue contractual agreements with national and
international defense authorities, dedicatedly delivering
technologically advanced and robust man-portable anti-armor weapons,
to ensure sustainable profits. An instance is the contract between
Bharat Dynamics Limited with the Ministry of Defense, Government of
India, in 2016. Under the contract, the company has agreed to deliver
the Indian Army Milan-2T-Anti-tank guided missiles.
Transparency
Market Research estimates that the global man-portable anti-armor
weapons market, valued at US$3.64 bn in 2016, will exhibit a
promising 6.5% CAGR from 2017 to 2025 and rise to US$6.38 bn by 2025.
Asia
Pacific Market to Exhibit Most Promising Pace of Growth
In
terms of type, the segment of rocket propelled grenades contributed
the dominant share of the overall revenue generated in 2016. Although
the segment of rocket propelled grenades is expected to retain
dominance in terms of revenue contribution to the global market, the
segment of recoilless rifles is estimated to exhibit the most
promising growth trajectory during the forecast period.
In
the global scenario, the man-portable anti-armor weapons market is
dominated by North America with a market share of approximately 31%
of the overall revenue generated in 2016. The dominance of North
America in the global man-portable anti-armor weapons market is
attributed to the vast funds invested in the research and development
of lightweight ammunitions and weaponries in countries such as the
U.S and Canada.
Rising
Focus on Research and Development of Lightweight Weapons to Drive
Market
One
of the key factors driving the market for man-portable anti-armor
weapons is the vast rise in defense budgets across the globe. The
demand for lightweight anti-armor weapons is rising at a steady pace
as defense budgets witness massive rise in developed as well as
developing countries. This has, in turn, led to an increased focus on
research and development activities aimed at the introduction of
modern lightweight technologies to destroy armored tanks, vehicles,
and aircrafts. Countries such as the U.S, the U.K, Russia, China,
India, and Israel are investing vast sums in the research and
development of man-portable anti-armor weapons in order to equip
their military troops with modern technologies as well as to export
them to other countries.
Request
Sample Report@
Comments
Post a Comment