Man-portable Anti-armor Weapons Market: Snapshot
The shoulder-fired or ground-fired weaponries that can be carried by a single soldier and are used to destroy any armored tanks, aircrafts, vehicles, and incoming missiles are known as man-portable anti-armor weapons. These weaponries, of the guided as well as the unguided variety, are highly effective against intended targets. Man-portable anti-armor weapons are typically single-shot weapons while some technologically advanced modern varieties are also multi-shot weapons.
The demand for man-portable anti-armor weapons has increased at a steady pace in the past few years, owing chiefly to a vast rise in defense budgets of developed as well as developing economies. The rising demand for lightweight anti-armor weapons is encouraging vast developments in the areas of weapon design and technology. This trend is expected to remain one of the key forces guiding the scope of development of the global man-portable anti-armor weapons market in the near future.
Get Sample Copy:
Transparency Market Research estimates that the global man-portable anti-armor weapons market, which in terms of revenue was valued at US$3.64 bn in 2016, is expected to reach US$6.38 bn by 2025, exhibiting a CAGR of 6.5% from 2017 to 2025.
Recoilless Rifles to Emerge as Segment with Most Promising Growth Prospects
On the basis of type, the global man-portable anti-armor weapons market has been segmented in the report into anti-aircraft missiles, rocket propelled grenades, anti-tank rifles, and recoilless rifles. Of these, the segment of rocket propelled grenades contributed the dominant share in revenue to the global market in 2016. Guided rocket propelled grenades are highly effective in destroying targets such as enemy main battle tanks, armored vehicles, and aircrafts at short and long ranges with high precision and are expected to witness strong growth over the report’s forecast period as well.
However, the segment of recoilless rifles, which held third-largest share in 2016, is expected to emerge as the most promising segment in terms of incremental growth opportunity over the forecast period. The demand for recoilless rifles is expected to benefit from their increasing usage among the defense forces as the projectiles fired from these rifles travel at a faster rate than most other man-portable anti-armor weapons. The demand for anti-tank rifle was comparatively less among the military forces in 2016, however, the demand is estimated to grow at a steady pace over the period from 2017 to 2025.
Grab an exclusive PDF Brochure of this report:
Market to Witness Most Promising Growth Opportunities in Asia Pacific
On the basis of geography, the global man-portable anti-armor weapons market has been segmented in the report as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Of these, the market in North America contributed the dominant share of revenue in 2016 due to immense research and development activities undertaken in the field of lightweight anti-armor weapons.
Although the North America market will continue to hold a massive share in the global market over the forecast period, the market in Asia Pacific is expected to register the most promising growth rate. This is attributed to the fact that emerging economies such as China and India are investing vast sums in designing and developing new technologically enhanced lightweight anti-armor weapons, while South Korea and other countries in rest of Asia Pacific are regularly procuring these man-portable anti-armor weapons.
Read TMR Research Methodology @:
Some of the leading companies actively participating in the global market for man-portable anti-armor weapons market are Lockheed Martin Corporation (U.S), Bharat Dynamics Limited (India), General Dynamics Corporation (U.S), Saab AB (Sweden), Raytheon Company (U.S), Thales Group (France), BAE Systems PLC (U.K), MBDA Missiles Systems (Germany), KONSTRUKTORSKOYE BYURO MASHYNOSTROYENIYA (Russia), and Nammo AS (Norway).
Read Our Latest Press Release:
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
Transparency Market Research State Tower,
90 State Street,
Albany NY – 12207
USA – Canada Toll Free: 866-552-3453
Email: [email protected]