Growing demand for modern military technology and increased investment in the military and defense sectors to boost market growth in air weapons delivery systems
There are three main types of air delivery systems; Long Range Unmanned Aerial Vehicles (LAV), Short Range Unmanned Aerial Vehicles (SRAV) and laser ballistic missiles (AGM). There are currently several programs active for each category, including; Ground air defense, air drop capability (AFFC) and robotic and unmanned aerial vehicles (URAV).
According to Coherent Market Insights, a new report offering certain data on Global market for air weapons delivery systems with a comprehensive assessment of includes future models and current development factors. The report reveals the ongoing CAGR registered by the market during the pandemic. The creator suggests that the business will continue to fill the built-in stage and increase the openings with a brief introduction to the market of weapons delivery systems.
Growing demand for advanced military technology is expected to stimulate growth in the market for air weapons delivery systems. For example, in February 2021, BAE Systems secured a $ 247 million contract from the US space force for the supply of advanced military GPS receivers and chips for the military.
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Increasing investment in the military and defense sectors is expected to offer lucrative growth opportunities for players in the air weapons delivery market. For example, in March 2019, the Chinese Ministry of Finance announced an annual budget of $ 177.5 billion for the defense sector, compared to $ 167.4 billion in 2018. In addition, the increase in software-defined radio systems is expected. market. For example, in February 2021, the Indian Ministry of Defense and Public Sector Defense, which undertakes Bharat Electronics Limited, signed a contract to purchase software-defined tactical radio.
Among the regions, North America is expected to witness significant growth in the market for air delivery systems due to growing investment in on-board platforms. For example, in November 2020, BAE Systems was awarded a five-year contract for $ 94 million with an indefinite award for an indefinite amount for an indefinite amount to provide advanced technology capabilities to the U.S. Navy.
Frequently Asked Questions (FAQ):
Is the market for air weapons delivery systems thriving in the near future?
Yes, the market will flourish in the near future
Who are the prominent market participants in Air Weapon Delivery Systems? Can I add a specific company?
Yes, You can add Specific Companies up to 3 companies.
The companies covered as part of this study include Boeing, BAE Systems, General Dynamics, Elbit Systems, CMC Electronics, Lockheed Martin, Raytheon, Northrop Grumman and Saab,
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Which geographical segmentation is included in the market report?
- North America
- Asia-Pacific region
- Latin America
- Middle East
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