The fire control system market is projected to grow from USD 5.9 billion in 2018 to USD 7.3 billion by 2023, at a CAGR of 4.37% from 2018 to 2023. Some of the factors that are expected to fuel the growth of the fire control system market include the increasing military expenditure by emerging economies to strengthen their respective armed forces. Various defense players, such as General Dynamics Corporation (US), Elbit Systems Ltd (Israel), Rheinmetall AG (Germany), Lockheed Martin (US), Leonardo (Italy) and BAE Systems (UK) are focusing on improving the accuracy of Fire Control Systems (FCS), and also on automating fire control systems in weapon systems. In contrast, various advanced economies have reduced their military budgets as a result of economic slowdown. Based on platform, the airborne segment is expected to grow at the highest CAGR during the forecast period Based on platform, the airborne segment of the fire control system market is projected to grow at the highest CAGR during the forecast period. Fire control systems play a crucial role in combat aircraft, in hitting targets in air to air missions with accuracy. Across the world, every other fighter aircraft and helicopter is installed with fire control systems. Airborne platforms have evolved to support multi-mission warfare machines capable of conducting a variety of missions. These platforms can be used for command & control, air defense, bombing, air dominance, close air support, reconnaissance, and other roles. Based on weapon class, the launchers segment is expected to lead the fire control system market from 2018 to 2023 Based on weapon class, the fire control system market has been segmented into automatic guns and launchers. The growth of the launchers segment in the fire control system market can be attributed to the high adoption land, airborne, and naval platforms for surface-to-air warfare to engage with main battle tanks and other armored fighting vehicles. Fire control systems are used in various launchers, such as automatic grenades, missile launchers, rocket launchers, mortar launchers, and torpedo launchers. Based on range, the medium range (9 to 80km) segment is expected to grow at the highest CAGR in the fire control system market from 2018 to 2023 Based on range, the fire control system market has been segmented into short range (0 to 9km), medium range (9 to 80km), and long range (Above 80km). Medium range is more affordable as compared to the long range, and is extensively used in war zones to help aim targets with maximum accuracy. Full Report @ https://www.marketsandmarkets.com/Market-Reports/fire-control-system-market-81007199.html About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com
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