Market Synopsis:
The Automated Weapon System Market is projected to grow at 7.16% CAGR during the forecast period.
The governments are keen on adopting automated weapon systems as it minimizes casualties and deaths. An upsurge in demand for advanced defense solutions is expected to dominate the future trajectory of the market.
Innovation is one of the major factors responsible for the growth of the arms & ammunitions industry. For instance, the advent of drones and unmanned aircraft systems have paved the way for the adoption of automated weapon systems. In addition, the rising threat of terrorism and militancy is motivating the governments to expand their defense budgets. It is presumed to augment the Automated Weapon System Market over the assessment period.
The expanding market presence of artificial intelligence has penetrated the defense sector. Its reliability is likely to encourage the governments to upgrade its strength for security and surveillance. In addition, the increasing naval activities are also forecasted to have a favorable impact on the expansion of the automated weapon system market CAGR. For instance, the South China Sea dispute among China and its neighboring countries have unleashed immense opportunities for the automated weapon system vendors.
Automated Weapon System - Competitive Dashboard:
Some of the key players profiled in this report are Lockheed Martin Corporation (U.S.), Saab AB (Sweden), Israel Aerospace Industries Ltd. (Israel), Northrop Grumman Corporation (U.S.), Boston Dynamics (U.S.), BAE Systems, Inc. (U.K), Turkish Aerospace Industries, Inc. (Turkey), Aerovironment, Inc. (U.S.), General Dynamics Corporation (U.S.), and Thales Group (France).
Automated Weapon System – Segmental Analysis:
By type, the Automated Weapon System Market has been segmented into radar-guided, homing missiles, stationary sentry guns, and combat drone.
By platform, the global automated weapon system market has been segmented into autonomous, and semi-autonomous.
By application, the automated weapon system market has been segmented into airborne, naval, and ground-based.
Regional Analysis:
The global automated weapon system market data, by region, has been segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. Increasing adoption of sentry guns and radar guided missiles by the defense ministries in the region is expected to propel the expansion of the market in North America. Rising investments by the key players are projected to secure the dominant position for the Automated Weapon System Market in the region. In addition, the strategies capitalized on for growth by the key players such as Lockheed Martin Corporation, Boston Dynamics, etc. are further expedite the expansion of the regional market.
Asia Pacific signifies tremendous cross-border terrorism. The governments, understanding the importance of securing borders, have exhibited a steep rise in the rate of adoption for automated weapon systems. In addition, the civil unrest witnessed in certain nations is prognosticated to catapult the Automated Weapon System Market on an upward trajectory. Additionally, the rising defense allocation by countries such as China and South Korea are anticipated to generate more automated weapon system demand in the forthcoming years.
Industry News:
In January 2019, the U.S. government donated 40 new field artillery ammunition support vehicles and 60 howitzers to the Brazilian Army.
In January 2019, MBDA, a European developer and manufacturer of missiles, has demonstrated the anti-surface capabilities of the Mistral missile using a SIMBAD-RC automated naval turret.
In September 2018, the Russian government has announced that it would supply sophisticated S-300 air defense systems to the Syrian army. It would also equip Syrian air defenses with an automated control system for enhanced efficiency.
In March 2018, Russia has announced its plan of working on robotized multiple launch rocket systems for hitting drones and helicopters.
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