Light Weapons Market will exhibit a CAGR of 4.67% during the forecast period, and reach USD 17.33 billion by 2027, and the Market value as per 2019 was USD 12.61 billion. Fortune Business Insights™ in a new report, titled, “Light Weapons Market Size, Share & COVID-19 Impact Analysis, By Type (Heavy machine guns, MANPAT, Infantry Mortar, Anti-Tank Weapons, Recoilless Rifles, Launchers, Light Cannon, Anti-Tank Missiles, MANPADS, Grenade, Landmines), Guidance (Guided, Unguided), Application (Defense, Homeland Security), and Regional Forecast, 2020-2027.” Light Weapons Market Drivers and Restraint: Wide Availability and Low Cost of Weapons to Propel the Growth of the Market The weapons are majorly used by military, civilian, and police use. There are plenty of weapon suppliers around the world that manufacture weapons in a variety of configurations. With the increasing lethality of submachine guns, rapid-fire assault rifles drive the growth of the market. Furthermore, these weapons are easily portable and concealable, thus, easier for transportation to battlegrounds. It requires less training to operate these weapons as they are highly durable and low maintenance. Growing contracts for light weapons from military forces and homeland security for strengthening armed forces can propel the growth of the market. Increasing Terrorist Activities and Civilian Conflicts Drive the Growth of the Market Rising terrorist activities, cross border disputes, and political unrest between neighboring countries creates demand for light weapons. Growing military modernization programs and the expansion of defense forces drive the growth of the market. Furthermore, rising defense expenditure and increased spending on research and development will boost the key market. Technological advancements in weapons manufacturing such as laser systems in light cannons increased the range of anti-tank missiles; precision-guided firearms drive the market. List of Key Players Covered in the Light Weapons Market Report: • ARSENAL (Bulgaria) • BAE Systems (The U.K) • FN HERSTAL (Belgium) • General Dynamics Corporation (The U.S.) • Heckler & Koch GmbH (Germany) • Lockheed Martin Corporation (The U.S.) • Northrop Grumman Corporation (The U.S.) • Raytheon Technologies Corporation (The U.S.) • Rheinmetall AG (Germany) • Saab AB (Sweden) • Thales Group (France) To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/light-weapons-market-103529 Some of the key industry developments in the Light Weapons Market Include: • January 2020 – Canadian military forces signed a contract of worth USD 96.97 million with Colt Canada of Kitchener to supply 3,626 new C6A1 FLEX general-purpose machine guns. • July 2019 – BCF Solutions Inc., and Trijicon Inc. had signed a contract of worth USD 48.8 million with the U.S. Army to deliver modern mounted machine gun optic for machine gunners firing the M240 and M2/M2A1, as well as the MK 19 grenade launcher.
October 30 2020
Electronic Flight Bag Market Share, Globe Key Updates, Demand, Size, and Industry Forecast to 2027
Electronic Flight Bag Market will exhibit a CAGR of 15.17% during the forecast period, and USD 5,426.7 million by 2027, and the Market value as per 2019 was USD 4,452.2 million.
Fortune Business Insights™ in a new report, titled, “Electronic Flight Bag Market Size, Share & COVID-19 Impact Analysis, By Type (Portable {Class 1and Class 2} and Installed), By Component (Hardware and Software), By Platform (Commercial and Military), and Regional Forecast, 2020-2027.”
Electronic Flight Bag Market Drivers and Restraint:
Surge in Commercial Aircraft Deliveries to Boost the Market Growth
Strong economic growth is a major reason for an increase in air passenger traffic. Owing to the rising number of passengers traveling by air, the airliners are focused on expanding their fleets. Thus, the rise in demand for air travel has facilitated the growth of commercial aircraft, which, in turn, has increased the demand for electronic flight bags. Moreover, the growing demand for next-generation aircraft is expected to propel the growth of the EFB market. The rise in aircraft deliveries in emerging economies in Asia-Pacific market is anticipated to fuel market growth in the region.
Emphasis on Operational Efficiency in Aircraft to Support Market Growth
The conventional pilot’s flight bag helps the pilot in operating the aircraft and has been replaced by an electronic flight bag, as the typical flight bag is heavy which weighs around 40 pounds, whereas an EFB weighs around 5 pounds. The weight advantage of the aircraft EFB is driving the growth of the market. As lighter aircraft can aid in improving operational efficiency and reducing fuel consumption, EFB helps in reducing the overall weight of the aircraft which increases efficiency. Thus, the need for improving operational efficiency and reduction of fuel cost is anticipated to boost the market growth.
Rising Safety Concerns and Real-Time Access Information to Fuel EFB Demand
Passenger safety is the most crucial aspect in airlines; hence resulting in the procurement of next-generation aircraft for enhanced safety. The key factor responsible for the growth of the EFB market is the safety aspect associated with the use of EFB. The real-time access of information helps the pilot to stay up to date with live weather information and also assists in route management. Moreover, the rising fluctuations in climate change have increased the concern towards passenger safety.
List of Key Players Covered in the Electronic Flight Bag Market Report:
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/electronic-flight-bag-market-103689
Some of the key industry developments in the Electronic Flight Bag Market Include:
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