Land Based Defense Equipment Manufacturing Market Characteristics
The land based defense equipment manufacturing market consists of sales of land based defense equipment by entities (organizations, sole traders and partnerships) that produce land based defense equiincluding support and auxiliary equipment for land based defense such as radar, satellites, sonars and other auxiliary equipment.
Competitive Landscape of the Land Based Defense Equipment Manufacturing market
Major players in the global land based defense equipment manufacturing market include BAE Systems , Raytheon Co, Northrop Grumman Corp, General Dynamics Corp, Lockheed Martin Corporation
Land Based Defense Equipment Manufacturing Market Size
The land based defense equipment manufacturing market size is expected to increase by 2021, with a CAGR of 5% during the forecast period. The growth in the land based defense equipment market is due to rise in demand for war equipment from nations like India and China
However, the market for Land Based Defense Equipment manufacturing is expected to face certain restraints from several factors such as trade restrictions and political unstability.
Land Based Defense Equipment Manufacturing Market Segmentation
The global land based defense equipment manufacturing market is further segmented based on type and geography.
By Type - The land based defense equipment manufacturing market is segmented into Armored Vehicles, Missiles, Tanks, Pistols, Guns, Rifles, Explosives, Field Guns, Rocket Launchers, Non-Gun Powder Weapons among these segments, the Armored Vehicle market accounts for the largest share in the global land based defense equipment market.
By Geography - The global land based defense equipment manufacturing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global land based defense equipment market.
Trends in the Land Based Defense Equipment Manufacturing Market
CornerShot rifles are increasingly being used in the defense industry. CornerShot weapons have steel hinge that allows the gun’s frame to bend around the corner to attack target without exposing themselves. These rifles help shooters to navigate around corners via a high-resolution camera and LCD monitor. The corner shot rifles are widely used inside armored vehicles and tanks, on a turret up top, which will allow for a full 360-degree field cover while the triggerman remained safely inside the vehicle. The weapon is accurate and effective to 100 to 200 meters depending on the type weapon. Corner Shot removes the need for this initial exposure
Potential Opportunities in the Land Based Defense Equipment Manufacturing MarketWith increase in demand for defence equipment from developing nations and increasing government investments in military and defence industry, the scope and potential for the global LAND based defense equipment manufacturing market is expected to significantly rise in the forecast period.
