Significant reduction in the defense spending by the developed economies has left the defense industry in a state of flux. Therefore, the industry players are continually increasing their focus on unexplored markets. This requires a deep and dynamic understanding of the defense sector across various regions as well as that of the changing regulatory landscape. The BIS team of skilled analysts and industry experts conduct deep-dive studies to solve and identify some of the key issues, which help our clients in their decision-making process.
The BIS Defense segment provides global market intelligence, thought leadership to execute key growth opportunities, and advisory services covering a wide range of sectors including Arms & Ammunition, Aircraft Systems, Unmanned Systems, Warfare Systems, and others. Our reports and services help our clients identify and analyze the impact of evolving new emerging technologies, mega trends on operational environments, end-user needs and supply chain and market data forecast, and other critical insights.
The global large caliber ammunition industry analysis done by BIS Research highlights that the market reported a revenue of $5.11 billion in 2018 and is expected to witness a CAGR of 4.07%, during the forecast period 2018-2023.
According to BIS Research analysis, the global cognitive electronic warfare system market is expected to report a revenue of $385.7 million in 2023 and is estimated to cross $928.4 million by 2028, at a CAGR of 19.20% during the forecast period, 2023-2028.
The arms and ammunition market in Peru is anticipated to generate a revenue of $9.1 million by 2022. The demand for arms and ammunition is majorly attributed to the growing demand for weapons by civilians for self defense.
The arms and ammunition market in Paraguay is anticipated to generate a revenue of $19 million by 2022. The demand is majorly attributed to come from the tourism industry for hunting and shooting sports applications.
The arms and ammunition market in Argentina is anticipated to generate a revenue of $23.5 million by 2022. The demand for arms and ammunition is majorly attributed to the growing interest for arms and ammunition from the tourism industry for hunting and shooting sports applications.
The global undersea warfare systems market is expected to reach over $11,393.6 million by 2021. Owing to the rising defense spending to strengthen the country’s military capabilities for encountering any kind of enemy attacks, including the threats from underwater attacks, the global undersea warfare systems market is expected to grow significantly at a CAGR of 6.6% during the forecast period 2017-2021.
The demand for C4ISR systems is rapidly gaining traction among defense forces across the globe. The key factors that largely supplement the growth of C4ISR systems market include improved situational awareness, increase in the demand of advanced mobile command systems, and rise in the allocation of defense budget for the development of advanced electronic systems in prominent countries.
In terms of growth, unmanned ground vehicle market is growing with leading players introducing latest products into the market. The major factor influencing the development is increase in operational efficiency and flexibility, reduced human intervention, among others. This will led to the growth of the global unmanned ground vehicle market which it is expected to reach $9.06 billion by 2023.
Global small arms market is a well-established industry with a few reputed players. But with the waning geopolitical situation fraught with sectarian wars in the Middle East, political instability and local armed insurgencies, the demand for small arms is set to grow rapidly in the coming years. The global small arms market is expected to reach $5695.86 million by 2022.
Global small caliber ammunition is a billion dollar industry which is expected to reach $4.05 Billion in 2022 at a double digit CAGR from 2016-2022. The key drivers for this market include increase in defense spending for military modernization programs in developing economies, high rate of participation in hunting & sport activities, growing number of female shooters and rise in demand from private end-users for personal security.