The global shoulder fixed weapons market size is expected to reach USD 7,836.8 million by 2027, exhibiting a CAGR of 5.74% during the forecast period. The growing enhancements in defense systems coupled with robust border security will have an excellent impact on the global market, states Fortune Business Insights, in a report, titled “Shoulder Fixed Weapons Market Size, Share & Industry Analysis, By Component (Launcher [Missile/Rocket Launcher, Rocket Propelled Grenade Launcher and Tripod] and Ammunition [Anti-tank Missile, Anti-aircraft Missile, Rocket Propelled Grenade]), By Technology (Guided [Infrared Homing, Laser Guided, and Semi-automatic Command line-of-sight] and Unguided), By Range (Short, Medium and Long), and Regional Forecast, 2020-2027.” The market size stood at USD 6,224.6 million in 2019.
The market includes the design and manufacture of aircraft, rockets, missiles, and spacecraft that operate in space. Defence equipment refers to weapons, arms, and equipment that are used for military purposes. The study conducted in this report provides an in-depth analysis of the aerospace and defences industry in Europe.
Get free Sample PDF Brochure:-
The Report Lists the Key Players in the Shoulder Fixed Weapons Market:
- Northrop Grumman Corporation (US)
- Konstruktorskoye byuro mashynostroyeniya (Russia)
- Lockheed Martin Corporation (US)
- Thales Group (France)
- Saab AB (Sweden)
- KBP Instrument Design Bureau (Russia)
- Raytheon Company (US)
- Rafael Advanced Defense System (Israel)
- BAE Systems (UK)
- JSC SPA Bazalt (Russia)
- Other Players
Rising Per Capita Spending on Military Operations to Augment Growth
The increasing terrorist activities have led to the heavy demand for shoulder fixed weapons, thus boosting the market. As per the SIPRI Fact Sheet 2020, the global military spending per capita increased from USD 243 in 2018 to USD 249 in 2019. The increasing utilization of lightweight, easily portable, and extended range of weapons by military forces will spur opportunities for the market. For instance, military and paramilitary forces use lightweight guided weapons for combat operations due to their agility and other advantages. Furthermore, increasing military expenditure in developing nations can have a remarkable effect on the global market. According to, International Institute for Strategic Studies (IISS), major countries such as the U.S., China, Russia, Saudi Arabia, and India are top five in military budget spending in 2020.
Ask for Customization:
Existing Prominent Companies to Propel Growth in Europe
The market in Europe is expected to expand exponentially due to the robust military, navy, air force, and other armed forces. The presence of key players, such as Saab AB, Thales, and MBDA Holding SAS, will foster the growth of the market in Europe. European countries, such as Germany, France, and the UK, are focused on improving military technologies. For instance, in January 2020, Germany Federal Office Bundeswehr Equipment, Information Technology and In-Service Support (BAAINBw) awarded a contract to MBDA for Enforcer missile systems. It is a precision-guided shoulder-launched weapon system with a range of 1800m capable of day/night deployment.
November 2020: The U.S. Army announced the replacement of its man-portable air-defense system (MANPADS) and shoulder-launched Raytheon Stringer missile system. The U.S.army requests the search for new and fresh systems that must be ideal & capable of defeating ground attacks on fixed-wing aircraft, rotary-wing aircraft, and unmanned aerial vehicles.
Read Related News:
Autonomous Aircraft Market Trends
Autonomous Aircraft Market Size
Autonomous Aircraft Market Share
Autonomous Aircraft Market Growth
Unmanned Ground Vehicles Market Forecast
Unmanned Ground Vehicles Market Analysis
Unmanned Ground Vehicles Market Opportunities
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner – Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
Connect us via Social Media Channels:
LinkedIn Facebook Twitter Blogs