Press release
Sea-based Remote Weapon Systems Market Analysis by Recent Developments and Overview Outlook – 2026: Saab AB, FN Herstal, Kongsberg Gruppen ASA, Hanwha Corp, Elbit Systems Ltd
The Global Sea-based Remote Weapon Systems Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.The Sea-based remote weapon systems market is projected to grow with a CAGR of more than 10% during the forecast period.
Top Companies in the Global Sea-based Remote Weapon Systems Market are Saab AB, FN Herstal, Kongsberg Gruppen ASA, Hanwha Corp, Elbit Systems Ltd., Rafael Advanced Defense Systems Ltd., ASELSAN A.S., Leonardo S.p.A., Nexter Systems, Rostec, Raytheon Technologies Corporation, General Dynamics Corporation and others.
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Key Market Trends
Advancements in Sea-based RWS Technology
With the growth in asymmetric warfare, major countries are investing in the development of new technologies that will be integrated with advanced sensor technologies and advanced fire control systems to improve accuracy and performance of the existing systems. The new systems are being integrated into unmanned systems. For instance, in August 2019, the US Navy surface warfare and Marine Corps developed a new unmanned sea system that is integrated with advanced infrared systems and video systems along with a .50 caliber machine gun. Also, governments are investing in new technologies with more lethality and higher accuracy. In May 2020, the US Navy has completed the testing of high-energy laser weapon, solid-state Laser - Technology Maturation Laser Weapon System Demonstrator (LWSD) MK 2 MOD 0 onboard USS Portland that can disable unmanned aerial vehicles. Earlier, in March 2019, the US Navy announced to integrate directed energy weapon systems on guided-missile destroyer by 2021. The aforementioned plans to integrate advanced RWS are anticipated to propel the growth of the market in the coming years.
Asia-Pacific Region is Expected to Witness the Highest Growth During the Forecast Period
The various countries in the Asia-Pacific region are rapidly increasing its military expenditure due to increasing political tensions and border issues. China is the largest military spender in the region with USD 261 billion military expenditure in 2019. The Chinese People Liberation Army Navy (PLAN) boasts of more than 300 surface combatants, submarines, amphibious ships, patrol craft, and specialized units. The PLAN is rapidly replacing obsolescent and single-purpose ships in favor of larger, multirole combatants with advanced anti-ship, anti-air, and anti-submarine weapons and sensors. Furthermore, due to political tensions with China, countries like India, Japan, the Philippines, and Australia among others are modernizing and upgrading their naval vessels and combat systems to enhance their naval capabilities. For instance, in 2017, Hyundai Heavy Industries selected ASELSAN to provide SMASH 30 mm naval gun system for two new frigates of Philippine Navy. These frigates are planned to be delivered to the Philippines Navy by the end of 2020. In addition to the modernization plans, various countries in the region are investing in indigenous development and manufacturing of RWS systems. The indigenous manufacturing of RWS is anticipated to accelerate the growth of naval RWS market in the region.
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What are the market factors that are explained in the report?
Executive Summary: It includes key trends of the global Sea-based Remote Weapon Systems market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Sea-based Remote Weapon Systems market based on production and revenue.
Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Sea-based Remote Weapon Systems market.
Market Segments: This part of the report discusses product type and application segments of the global Sea-based Remote Weapon Systems market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses the research methodology and approaches Sea-based Remote Weapon Systems used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
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