The global close-in weapon systems market is anticipated to grow at a CAGR of 7.8% during the forecast period. One of the key factors that are thriving the market is the growing air attacks. Countries such as the US, China, India, Russia, Israel, and others have been using air strikes more often in the rising tension among nations. For instance, in April 2022, Russian authorities suspected Ukraine of air striking an oil depot in the Russian area. Furthermore, in June 2022, Ukraine authorities stated that Russia strike missiles at Belarus “to further drag Belarus into the war against Ukraine.” Such attacks have also been contributed by the growing air defense budgets of most countries. For instance, the Indian Air Force (IAF) had been allocated $12.8 billion for the year 2021-22, which was $11.7 billion for the year 2020-2021.
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This has increased the concern of most countries about attacks and has been focusing on developing, and adopting close-in weapon systems in their defense to avoid such attacks and reduce causalities. For instance, in March 2022, Raytheon Technologies Corp. is to overhaul and upgrade radar-guided and computer-controlled Gatling guns that defend surface warships from manned aircraft, anti-ship missiles, and drones under terms of a $93.6 million order informed. Officials of the Naval Sea Systems Command, Washington, asked the Raytheon Missiles & Defense segment in Tucson, Ariz., for MK 15 Close-In Weapon System (CIWS) upgradation, overhaul, conversion, and hardware.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Close-In Weapon Systems Market Report by Segment
By Type
- Gun-Based
- Missile-Based
By Platform
- Terrestrial
- Naval
Global Close-In Weapon Systems Market Report by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global close-in weapon systems market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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