PUNE, India, December 7, 2017 /PRNewswire/ --
According to the new market research report "Ammunition Handling System Market by Platform (Land, Airborne, Naval), Weapon Type (Cannons, Gatling Guns, Machine Guns, Main Guns, Launchers), Feeding Mechanism (Linked, Linkless), Component, Mode of Operation, and Region - Global Forecast to 2022", published by MarketsandMarkets', the market is estimated to be USD 2.30 Billion in 2017 and is projected to reach USD 3.50 Billion by 2022, at a CAGR of 8.75% from 2017 to 2022. The increasing demand for remote weapon stations, tank turrets, and naval guns from military forces worldwide and rising incidences of asymmetric warfare across the globe are key factors driving the growth of the ammunition handling system market.
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Browse 168 market data Tables and56 Figures spread through 177 Pages and in-depth TOC on"Ammunition Handling System Market - Global Forecast to 2022"
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Based on platform, the land segment is projected to lead the ammunition handling system market during the forecast period
Based on platform, the land segment is expected to lead the ammunition handling system market from 2017 to 2022. Ammunition handling systems identify and locate selected ammunition rounds in a magazine, and transfer the chosen rounds to a weapon for firing. The demand for main battle tanks and armored fighting vehicles has increased across countries worldwide, thereby driving the growth of the ammunition handling system market in land platform.
Based on feeding mechanism, the linkless segment of the ammunition handling system market is expected to grow at the highest CAGR during the forecast period
Based on feeding mechanism, the ammunition handling system market has been segmented into linked and linkless. The linkless segment is projected to lead the ammunition handling system market from 2017 to 2022. The linkless ammunition feed mechanism allows loading of ammunition in weapons through conveyor systems. This mechanism also helps download the used cases and unfired rounds. The growth of the linkless segment can be attributed to the need to enhance firepower of gun systems, the increase in military modernization programs, and procurement of new military equipment.
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The ammunition handling system market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period
The growth of the ammunition handling system market in the Asia Pacific region can be attributed to increased defense spending of emerging countries, such as India and China. These countries are focused on the development of advanced warfare systems for military applications.
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Major players operating in the ammunition handling system market include Meggitt Defense Systems (US), General Dynamics (US), McNally Industries (US), Nobles Worldwide (US), and Curtiss-Wright (US).
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