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Fire Control System Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3280

Fire Control System Market Size is slated to witness significant expansion from 2022 to 2028 due to increasing penetration in the mining, construction, automotive, utilities, manufacturing, and petrochemical sectors. The soaring requirement for precise weapon systems has resulted in the growing advancements in automatic weapon systems. The rapid rate of urbanization and industrialization, growing focus and awareness on safety, coupled with the regulation of stringent regulations for the system installation in residential and non-residential buildings will supplement the market progression.
 

Fire-control systems comprise numerous components, including a gun data computer, radar, and a director that work together, and designed for assisting a weapon system in hitting its target. Factors, such as higher military spending, notably in the emerging economies along with the rising emphasis on research, development, and innovations by several industry players on account of the increasing focus on safety will lead to positive market growth.
 

On the basis of weapon type, the market share from launchers will rise driven by the swelling demand for land, airborne, and naval platforms in surface-to-air warfare. Fire control systems are extensively deployed in automatic grenades, as well as in missile, rocket, mortar, and torpedo launchers. The rising urge to improve troop safety and to replace the aging launchers with advanced automated launchers will foster the segment expansion.

 

Based on platform, the demand for airborne fire control systems is expected to account for a significant share up to 2028 owing to their rising criticality in combat aircraft to accurately hit targets in air-to-air missions. Other than being lightweight, compact, and capable of tracking numerous agile targets, these systems can work with several air-to-air and air-to-ground modes. These platforms offer benefits, like air domination, command, control, bombing, air defense, close air support, reconnaissance, among other missions. Growing adoption in single-seat aircraft for minimizing the workload on the aircrew is another prominent driver signifying the market expansion.
 

 North America is set to emerge as a profitable landscape for the fire control system market, led by the surge in infrastructure investments. The growing number of commercial construction buildings along with the rise in concerns related to fire safety and security has steered the increase in government spending. The robust presence of regional industry leaders has also resulted in an ample amount of market demand opportunities. For instance, in February 2020, Leonardo DRS, Inc. received a contract from the U.S. Army Contracting Command for providing mission-critical computing systems to digitize the M777A2, a well-known Lightweight 155MM towed howitzer fire control system.
 

The market share in the Asia Pacific will expand with the rising military spending in China, India, Japan, and South Korea. Growing government support, increasing number of defense equipment imports and the ongoing revision of policies are other factors leading to the regional revenue.
 

The market is highly competitive and boasts of the presence of leading players including Elbit Systems Ltd., Raytheon Company (Raytheon Technologies), Lockheed Martin, Safran, General Dynamics Corporation, Leonardo, Aselsan A.S. (Turkish Armed Forces Foundation), Rheinmetall AG, and BAE Systems.
 

Apart from partnership-oriented strategies, like mergers, and acquisitions, these bigwigs are entering long-term contracts to offer fire control systems whilst multiplying their revenue share and sales.
 

For instance, in January 2021, the mission systems business of General Dynamics received a $43.2 Mn contract modification from the U.S. Navy for developing, manufacturing, and installing fire control systems aboard Dreadnought and Columbia-class submarines.
 

In another instance, in May 2021, Safran Electrical & Power partnered with Pyroalliance for working together on developing a system for safety against risks of fire in electric propulsion systems for aircraft.
 

Effect of the COVID-19 outbreak on fire control system market forecast

The COVID-19 pandemic struck the global economy by bringing unprecedented challenges to a large profile of industrial sectors across the world. Its effects were also considerably experienced on the installation of fire protection systems given the halted logistics operations in supply chains prompted by government-regulated travel restrictions and lockdown policies. However, the gradual relaxation of these barriers in the current times will help in the market development over the coming years.
 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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