Fire Control System Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
|CAGR:||> 4 %|
*Disclaimer: Major Players sorted in no particular order
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Fire Control System Market Analysis
The Fire Control System Market is anticipated to grow at a CAGR of more than 4% during the forecast period.
- An increase in the demand for automated fire control systems and the ongoing development of consolidated fire control systems are the major factors driving the market.
- Technological limitations, such as deterrents, and the increasing use of active protection systems pose a challenge to system designers.
- The emergence of directed energy weapons (DEW) possess immense potential for military applications and could dramatically reduce the cost associated with the development and operating of both offensive and defensive weaponry. Widespread adoption of DEWs can trigger a radical change in market dynamics.
Fire Control System Industry Segments
A fire control system is a multifaceted system that encompasses several subsystems working in tandem to enhance the lethality of a military asset during combat. Modern military assets feature sophisticated target acquisition and guidance systems based on RADAR, SONAR, and electro-optical technologies. The market has been segmented based on system, platform, and geography. The main and auxiliary power systems and the weapon stabilization systems have been considered in the others subsegment in the segmentation by the system.
|Target Acquisition and Guidance System|
Fire Control System Market Trends
This section covers the major market trends shaping the Fire Control System Market according to our research experts:
Ongoing Digitization of Battlefield Driving the Introduction of Sophisticated Fire Control Systems
Battlefield digitization means a system, wherein the components are integrated into the force, evaluated, acquired, and updated together, to the maximum extent possible. The introduction of information-based weapon systems capable of providing combat vehicle crews with effective firepower and knowledge base to coordinate and employ both onboard and external sensors and weapons will change the current tactics, techniques, and procedures of the armed forces. Network-centric warfare was devised by the US military during the 1990s and requires the thorough integration of sensors, communication networks, command centers, and associated platforms to achieve complete situational awareness and perfect synchronization between sensors and responders in a fast-paced mobile environment. Electro-optic systems on land are observed to be effective in tracking armored vehicles and low-observable missiles. This helps platoons to strategize their approach. Technology upgrade has resulted in increased situational awareness for modern fire control systems. Modern versions of prominent weapons such as the Stinger missile feature sophisticated IR and UV technology that enhances the targeting efficiency of the Stinger by making it less prone to countermeasures such as flares when targeting is based on the heat signature of the engine. Besides, the addition of a proximity fuse on the missile warhead enhances its capability to secure a more reliable lock on targets such as UAVs.
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North America to Dominate the Market During the Forecast Period
The US has been the pioneer of armed warfare and has positioned itself at the apex of military dominance through a steady growth in the procurement of advanced weapon systems. The changing nature of warfare is one of the prime reasons for the US DoD's increased spending towards arming its armed forces with better weapons. New weapons are subjected to extensive testing to ensure reliable operation and estimate the level of performance enhancement due to a newly integrated design change. In October 2018, the US Army concluded its qualification testing for a new proximity fuse, designed as an enhancement for Raytheon's Stinger missiles. The fuse-integrated missile achieved a perfect score against a variety of targets, which amplifies its lethality through proximal detonation while maintaining its hit-to-kill capability. The US Army plans to integrate its Stinger inventory with the new proximity fuse through issuing an Urgent Material Release contract as part of its Service Life Extension Program scheduled to be conducted at its ammo plant in McAlester, Oklahoma. The ongoing development of Next Generation Squad Weapons (NSGW) envisions to integrate a digital fire control system that is found on main battle tanks onto the assault rifle and machine guns deployed by the US Army. The NSGW program aims to field two new advanced weapons: the NGSW-Automatic Rifle (NGSW-AR) and the NGSW-Rifle. The integration of a digital fire control system would enable US troops to engage targets much swiftly and with enhanced precision to overpower their rivals with relative ease. Moreover, in December 2019, Raytheon Technologies Corporation was awarded a USD 123.5 million contract to supply additional MK 99 fire control systems for the Aegis weapon systems to be installed onboard the future Flight III Arleigh Burke-class guided-missile destroyers.
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Fire Control System Market Competitor Analysis
The Fire Control System Market is marked with the presence of major players such as Raytheon Technologies Corporation, Leonardo S.p.A., BAE Systems plc, Rheinmetall AG, ASELSAN A.S., and Thales Group among others. The market is highly competitive and the prominent players are competing for a larger market share. The stringent safety and regulatory policies in the defense segment are expected to restrict the entry of new players. Furthermore, since a contract for such sophisticated weapons requires high technological expertise and spans over several years, careful identification and continuous monitoring of associative risks are required to be undertaken to assess their effects on the operational parameters of the manufacturing company. The assessment includes consideration for technical requirements, the listing of scheduled and associated tasks, and detailed cost analysis. Furthermore, the sales of technology-based platforms are primarily influenced by the prevalent economic situations in dominant markets such as the US and Asia-Pacific. Hence, in periods of economic downturn, purchases may be subjected to deferral or cancellation and a relatively slower rate of adoption, which in turn, can adversely affect the market dynamics. Moreover, the contracts are often subjected to include offset clauses which enhances the risks of timely completion of the project. Since the associated risks regarding the technical aspects, scheduling of activities and costs are subjected to change based on macroeconomic factors and subsequently influence the associative profits of the associated parties in a contract.
Fire Control System Market Top Players
Raytheon Technologies Corporation
BAE Systems plc
*Disclaimer: Major Players sorted in no particular order
Fire Control System Market Recent Developments
In June 2021, India successfullt test-fired the Agni-P next-gen nuclear-capable ballistic missile equpped with an advacned composite airframe, propulsion systems, innovative guidance and control mechanisms, and the latest navigation systems.
In April 2021, the US Navy started seeking proposals for creating the prototype for a non-GPS based position, navigation, and timing (PNT) system, that will eventually be integrated into the sea service’s future arsenal of hypersonic weapons and platforms.
Fire Control System Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Target Acquisition and Guidance System
5.1.2 Interface System
5.1.3 Navigation System
5.1.4 Other Systems
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Latin America
18.104.22.168 Rest of Latin America
5.3.5 Middle-East and Africa
22.214.171.124 United Arab Emirates
126.96.36.199 Saudi Arabia
188.8.131.52 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 ASELSAN A.S.
6.2.2 BAE Systems plc
6.2.3 Elbit Systems Ltd.
6.2.4 General Dynamics Corporation
6.2.5 Indra Sistemas, SA
6.2.6 Leonardo S.p.A.
6.2.7 Lockheed Martin Corporation
6.2.8 Northrop Grumman Corporation
6.2.9 Raytheon Technologies Corporation
6.2.10 Rheinmetall AG
6.2.11 Saab AB
6.2.12 Safran SA
6.2.13 Thales Group
6.2.14 Ultra Electronics
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Fire Control System Market Research FAQs
What is the study period of this market?
The Fire Control System Market is studied from 2018 - 2028.
What is the growth rate of Fire Control System Market ?
The Fire Control System Market is growing at a CAGR of >4% over the next 5 years.
Which region has highest growth rate in Fire Control System Market ?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Fire Control System Market ?
North America holds highest share in 2021.
Who are the key players in Fire Control System Market ?
Raytheon Technologies Corporation, Leonardo S.p.A., BAE Systems plc, ASELSAN A.S., Thales Group are the major companies operating in Fire Control System Market .
Fire Control System Industry Reports
In-depth industry statistics and market share insights of the Fire Control System Market sector for 2020, 2021, and 2022. The Fire Control System Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Fire Control System Market report PDF.