Pyrotechnic Munitions Market Analysis, Trends And Opportunities Forecast 2028

According to Premium Market Insights new research study on "Pyrotechnic Munitions Market size is projected to reach US$ 4,653.96 million by 2028 from US$ 3,358.92 million in 2022; it is expected to grow at a CAGR of 5.6% from 2022 to 2028.

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Some Of the Major Players Influencing are Rheinmetall AG, General Dynamics Ordnance and Tactical Systems, Wescom Group, Chemring Group, and Pyrotechnic Specialties Inc. are some of the pyrotechnic munitions market players.

Pyrotechnic munitions are extensively used by ground military forces and in the life rafts of naval vessels and aircraft carriers. The use of these products is increasing due to the growing fleet of naval vessels and aircraft carriers, which require a significant amount of pyrotechnic munitions for their operation. The market for pyrotechnic munitions is segmented based on product type, application, and end user. The product types include signaling and illumination, crowd control, and training segments, while the applications include land, naval, and air forces. The end users of pyrotechnic munitions are military and law enforcement agencies. Geographically, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

To maintain their market position, pyrotechnic munition suppliers in Europe are focused on acquiring smaller emerging players. For example, in 2021, Wescom Defense completed the acquisition of PW Defence Ltd., a UK-based military pyrotechnics manufacturer, to expand its product portfolio and international sales network, as well as to benefit from new manufacturing and testing facilities. In addition, the presence of several prominent players in the region, including Rheinmetall, Primetake Ltd., Nexter Group, and Lacroix, is a significant factor driving the growth of the pyrotechnic munitions market in Europe.

The pyrotechnic munitions market in Asia Pacific is witnessing a notable upward trend owing to the increasing procurement of submarines and naval vessels and the growing focus on military training programs. In particular, the demand for pyrotechnic munitions products is rising in aircraft carriers in the region. The need for aircraft carriers is increasing, thereby boosting the demand for pyrotechnic munitions products in Asia Pacific. According to the US Navy, the Chinese Navy plans to operate six aircraft carriers by 2040, with only two currently in operation. Jiangnan is currently constructing an improved and enlarged Type-003, and one or more additional carriers are expected to be built by 2025. Moreover, in April 2022, India launched its sixth and final SCORPENE submarine, concluding the Project 75 contract with Mazgaon Docks Limited. Additionally, in April 2022, Russia and Vietnam announced plans to hold joint military training exercises aimed at enhancing the practical skills of commanders and staff in organizing combat training operations and managing units in difficult tactical situations. These government initiatives to improve defense operations are driving the growth of the pyrotechnic munitions market in Asia Pacific.

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The key players pyrotechnic munitions market players are Rheinmetall AG, General Dynamics Ordnance and Tactical Systems, Wescom Group, Chemring Group, and Pyrotechnic Specialties Inc. With the increasing strategic initiatives, investments in new product developments would propel the growth of the market in the coming years.

Impact of COVID-19 Pandemic on Asia Pacific Pyrotechnic Munitions Market

The pyrotechnic munitions products market in Asia Pacific, particularly in India and China, was significantly impacted by the COVID-19 crisis, as these two countries represent a substantial portion of the market. The lockdown measures and decrease in manufacturing operations in these countries disrupted the supply chain for several raw materials and pyrotechnic components. The utilization of advanced simulation technologies, particularly in naval and air forces, was a significant driver of market growth in the pre-pandemic era.

As the COVID-19 lockdown measures were eased in 2021, manufacturing businesses resumed their operations, recommencing production facilities. This resurgence of pyrotechnic products manufacturing, combined with the increasing number of rescue and critical missions, is expected to be favorable for the growth of the pyrotechnic munitions market during the pandemic recovery period.

The primary factor driving the growth of the global pyrotechnic munitions market is the increasing demand for pyrotechnic markers in defense forces. Other factors fueling the market growth include rising border transportation operations, military cargo operations, search and rescue operations, and other ISR operations involving aircraft or helicopter movements to carry out missions. Ground military forces use pyrotechnic markers to produce signals that help helicopter pilots land safely in complex terrains. Furthermore, pyrotechnic munitions are also used in military exercises to provide a realistic experience to military personnel.

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The pyrotechnic munitions market has been analyzed using both primary and secondary sources. Initially, comprehensive secondary research was carried out using internal and external sources to gather qualitative and quantitative information related to the market size. This process helped obtain an overview and forecast of the pyrotechnic munitions market size for all the market segments. Subsequently, multiple primary interviews were conducted with industry experts and commentators to verify the data and gain more analytical insights into the market. The participants in these interviews included VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders who specialize in the pyrotechnic munitions market.

Table Of Contents

Introduction
1.1 Study Scope

1.2 Research Report Guidance

1.3 Market Segmentation

Key Takeaways
Research Methodology
3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

Pyrotechnic Munitions Market Landscape
4.1 Market Overview

4.2 Porter's Five Force Analysis

4.2.1 Bargaining Power of Buyers

4.2.2 Bargaining Power of Suppliers

4.2.3 Threat of New Entrants

4.2.4 Threat to Substitutes

4.2.5 Competitive Rivalry

4.3 Ecosystem Analysis

4.4 Expert Opinion

Pyrotechnic Munitions Market - Key Industry Dynamics
5.1 Market Drivers

5.1.1 Growing Demand for Pyrotechnic Markers Across Defense Forces

5.1.2 Collaboration of Companies with Defense Forces for Live Training Simulation

5.2 Market Restraints

5.2.1 Certification and Qualification Challenges for Market Vendors

5.3 Market Opportunities

5.3.1 Growing Fleet of Naval Vessels and Aircraft Carriers Worldwide

5.4 Future Trends

5.4.1 Introduction of Electric Pyrotechnics

5.5 Impact Analysis of Drivers and Restraints

Continued…...!

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