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 fueling the market is the rising technological advancement in the system. Close-in weapon systems are defense weapons that can detect and destroy an enemy aircraft and short-range incoming missiles which have penetrated the outer defenses, usually mounted on a naval ship. Such advanced technology has strengthened the defense of multiple countries such as India, China, the US, and others which has increased the demand for more advancement in the technology to have an edge over other armies. For instance, in March 2022, Indian companies conducted tests for meeting an Indian Air Force (IAF) requirement for close-in weapon systems (CIWS), a defense tool that works against hostile air attacks. Such limited tender got released at the end of December 2017, with a $1.5 billion allocation for this ‘Buy and Make (Indian)’ project. The RFP requested CIWS for protecting airbases in contradiction of aircraft, UAVs, helicopters, and cruise missiles.
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The global close-in weapon systems market is segmented based on the type and platform. Based on the type, the market is segmented into gun-based and missile-based. Based on the platform, the market is segmented into terrestrial and naval. The above-mentioned segments can be customized as per the requirements. Based on type, the gun-based close-in weapon systems segment is anticipated to grow significantly in the market owing to the increasing demand for several gun-based close-in weapon systems while, based on platform, the naval segment is anticipated to grow significantly during the forecast period owing to rising demand for naval security.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Close-In Weapon Systems Market Report by Segment
By Type
- Gun-Based
- Missile-Based
By Platform
- Terrestrial
- Naval
Global Close-In Weapon Systems Market Report by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ 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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