Emerging Technologies Drive Weapons and Ammunition Industry Growth
The defense and security industry is undergoing several advancements. Over the years, the introduction of several new technologies has enabled the industry to integrate several major technologies to promote the sector’s growth.
The industry has witnessed a massive transformation in the air and missile defense area due to the increasing development of technologies. These developments are carried out in the field of radars, directed energy, missile defense, counter-hypersonic, left of launch, multiple-object kill vehicle, space-based laser sensor, electromagnetic rail guns, and other emerging technologies.
The rising threat from advanced aerial weapons such as hypersonic missiles, ballistic missiles, unmanned aerial vehicles, drone swarms, rockets, and mortars is a crucial factor driving air defense systems’ demand across the globe.
The analysts at BIS Research are adept at carrying out in-depth studies on the complete defense and security industry and different and sub-segments of the industry. The weapon and ammunition segment of the defense and security market highlights different technologies at a nascent stage. These technologies have the potential to change the future altogether. The study by BIS Research includes the highlights of global markets such as air defense systems and military ammunition market.
The global air defense system market is a market intelligence study carried out by BIS Research under the weapon and ammunition market. The report highpoints that air defense systems are developed to counter the growing threat from ballistic missiles, combat aircraft, unmanned aerial vehicles, precision-guided munitions, and drone swarms, among others.
The major driving forces behind the air defense systems market’s growth are the modernization of missile defense systems, expansion of surveillance radar coverage, and modern air defense systems, including directed energy weapons, counter hypersonic, electromagnetic railguns, and so on. Moreover, air defense systems’ upgradation and development programs are primarily attributed to increased demand for air defense systems and associated investments.
Another market intelligence study on the global military ammunition market by BIS Research showcases how due to increased defense spending budget of both developed and developing economies has propelled the defense agencies to procure and modernize the military arsenal. Currently, the U.S., followed by China and India, is among the top ten countries with the highest defense budget.
However, the global slowdown that began due to the novel COVID-19 had a profound impact on all industries. The governments are forced to freeze all operations that involve transport and mass gathering to counter the COVID-19 pandemic. The restriction impacted the supply chain flow in all industries, and the defense industry is no exception.