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.
November 3 2020
Electric Vehicle Battery Market will exhibit a CAGR of 6.6% during the forecast period, and reach USD 82.20 billion by 2027, and the Market value as per 2019 was USD 71.83 billion.
Fortune Business Insights™ in a new report, titled, “Electric Vehicle Battery Market Size, Share & Industry Analysis, By Type (Lead Acid Battery, Nickel-Metal Hydride Battery, Lithium-Ion Battery, Others), By Vehicle Type (PHEV, BEV, HEV), and Regional Forecasts, 2019-2026.”
Electric Vehicle Battery Market Drivers and Restraint:
Falling Price of Lithium-Ion Batteries to Augment Growth
Currently, the primary source of power for EVs is lithium-ion batteries. According to a study published by the U.S. International Trade Commission in 2018, lithium-ion batteries account for more than 70% of the rechargeable battery market. Additionally, the battery costs per kilowatt-hour (kWh) have declined to less than 200 USD in 2019 from around 1000 USD in 2010. Moreover, owing to the advancement of the battery pack manufacturing techniques and cell chemistry, battery costs are likely to decline below 100 USD/kWh by the end of the forecast period. Hence, a reduction in the prices of battery packs which are responsible for around 35% to 45% of EV manufacturing costs are expected to drive the growth of the market.
Stringent Emission Regulations to Fuel Adoption of Electric Vehicles
Electric vehicles hold a significant emission advantage over the conventional internal combustion engine vehicles attributed to the lack of transit-related emissions and the potential to utilize and develop renewable energy resources.
Furthermore, increasing awareness regarding climate change has compelled policymakers to implement stringent fuel economy regulations and actively promote the development of electric vehicles via initiatives such as incentivizing cell manufacturing for batteries. Hence, vehicular emission concerns are anticipated to propel the adoption of EVs which would boost the growth of the market of electric vehicle battery.
RESTRAINING FACTORS
Scarce Material Supply and Lack of Charging Infrastructure to Limit Adoption
Several minerals are necessary to store and utilize electricity as fuel such as manganese, cobalt, nickel, graphite, and rare-earth elements such as neodymium for which the supplies are geographically concentrated and substitutes are non-existent or limited. The growing demand for EVs is likely to lead to a short-term supply crunch for these essential battery components.
Furthermore, the lack of charging infrastructure is also a hurdle for the widespread adoption of EVs, particularly in emerging economies such as India. Additionally, the cost of installation is high and cost-efficiency for consumers to charge their vehicles is also not at the required level. Hence, the supply chain risks and the lack of charging stations are likely to restrain the growth of this market.
List of Key Players Covered in the Electric Vehicle Battery Market Report:
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/industry-reports/electric-vehicle-battery-market-101700
Some of the key industry developments in the Electric Vehicle Battery Market Include:
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