Cluster Munitions Market - Global Industry Growth, Trends, and Forecast 2016 - 2026
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The cluster munitions market is primarily driven by the introduction of sensor based munitions globally. Sensor based munitions is likely to help the cluster munitions to guide the munitions to the target and helps them to detect the target. These bombs are getting smarter through the implementation of sensors into it. They can recognize the moving object and decide whether or not to engage it while spinning through the air at high RPM.Another important driving factor is the Cost-effectiveness of cluster munitions. Since cluster of bombs are confined into a single bomb thus acting as a container can actually disperse itself after it is released from air which help in targeting multiple targets in one go. This is helping in achieving cost effectiveness as one bomb is used to aim several targets.Competition pushes the cost down to a nominal amount since only one or two facilities in the locality can handle such energetic materials.Increasing deployment in extremist-dominated regions is also bolstering the demand of cluster munitions market globally. With the increasing extremist dominated regions, demand of cluster munitions in the global market.
The cluster munitions market is restrained by the increasing risk of unexplored ordnances. The failure rate of varioussub munitions means that a single attack can leavehundreds or thousands of small unexploded, but lethal devices.The high number of unexplodedsub munitionstainting an area and significantly increases the probability of anaccidental encounter, compared with other types of ordnance.
The cluster munitions market is bifurcated into two types ground based cluster munitions and air based cluster munitions. The ground based cluster munitions comprises mortar bombs, artillery projectiles and rockets. Whereas, the air based cluster munitions includes bombs, rockets and missiles. Based on regions, the cluster munitions market is bifurcated into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Unlike most types of ordnance, sub munitions are often light and small enough to be picked up by children, who cannot recognize them as dangerous munitions. Higher death rate of civilians is also one of the major restraining factors in the global cluster munitions market. Due to wide areaeffects and difficulties in accurately targeting sub munitions, civilians may fall victim to the weapons during an attack despite strict efforts to target only military objectives. Moreover, low failure ratecan result in a huge number of unexploded sub munitions because of the often highquantities delivered.
Prominent use of Alternative Warhead Program in the coming years is acting as one of the major opportunities in the global cluster munitions market during the forecast period. These are the advanced versions of cluster munitions that aims at elimination of unexploded ordnances completely.
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Some of the major players in the global cluster munitions marketcompriseTextron Systems, NORINCO, IMI Systems, Lockheed Martin, L-3 Fuzing and Ordnance Systems, Orbital ATK, and Aeroteh among others
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