Overview of the global fast attack craft (FAC) market
Market research analysts at Technavio predict that the global FAC market will grow steadily during the next four years and post an impressive revenue of more than USD 3 billion by 2021. This market research analysis identifies the increased development of ship-based missiles as one of the primary growth factors for this market. It has been observed that a number of countries across the globe have delayed or canceled several development projects and procurement plans due to budgetary constraints. This led to the increased adoption of missile boats or torpedo boats, which are relatively low-cost platforms. These vessels or FAC are armed with anti-ship missiles and have mainly been incorporated in the navy inventories of countries that have low military expenses. Despite being fitted with firepower, these boats offer swift mobility. Moreover, these ships also have the ability to deploy anti-ship guided self-propelled warheads, which eliminates the need for the additional deployment of larger ships.
One of the major trends that will gain traction in this market is the development of biodiesel-powered naval vessels. The rise in usage of diesel fuel and crude oil has resulted in the increasing focus of countries across the globe to reduce greenhouse gas emissions in naval operations. Countries in the EU and the US have introduced regulations that mandate that usage of biofuel as an alternative fuel for crude oil. The US Navy has already set a goal of procuring 336 million gallons of advanced alternative fuels annually by 2020.
Overview of the global stun gun market
The global stun gun market is anticipated to grow at a steady rate and will post a CAGR of close to 8% during the forecast period. The growing emphasis on using conducted electrical weapon (CEWs) will drive the growth prospects for the global stun gun market until the end of 2021. One of the major factor leading to the deployment of CEWs is to incapacitate a hostile person by causing pain through the application of electric current. Also, when lethal force is avoided to maintain human right laws, the military personnel, police, and law enforcement agencies deploy CEWs. Moreover, stun guns with probes are effective against people who are under the influence of drugs or alcohol that makes them less sensitive to pain. In addition, stun guns are increasingly preferred by military and law enforcement agencies since it reduces the risk of fatality and can be used from a safer distance.
The development of stun gun with integrated heart monitoring system will drive the growth prospects for the global stun gun market during the forecasted period. Since the deployment and use of CEWs involve factors such as pre-existing medical conditions, dependency on illicit drugs, as well as cardiac rhythm disturbances, a vital importance is also given to the development technologies that can monitor the pre-existing medical conditions. For instance, in August 2016, a team of researchers at the Wake Forest University modified a taser gun by integrating the heart rate and rhythm monitoring system that can transmit electrocardiogram signals.
Competitive landscape and key vendors
The global stun gun market is highly diversified and competitive due to the presence of a large number of vendors across the globe. It has been observed that cost-efficiency is one of the major challenges that vendors face during production. Also, it is necessary that vendors
Overview of the global non-lethal weapon market
Technavio’s market research analyst predicts the global non-lethal weapon market to grow steadily at a CAGR of around 6% by 2021. One of the primary drivers for this market is the rise in the emphasis on adoption of non-lethal weapons. Non-lethal weapon systems are mostly used in operations for controlling civilians, maintaining peace and order within urban regions, and conducting humanitarian missions in the third-world countries. These weapons temporarily harm the person and are often used in combat situations where lethal force cannot be applied. Such weapons are also capable of switching to lethal modes if required. This added functionality makes these weapons a favourable choice for the authorities. Moreover, advantages like multiple target attack capability and high accuracy are other the key factors driving investments in this market.
One of the latest trends gaining traction in this market is the adoption of vehicle-mounted non-lethal weapons. The US military force has been using a self-defense smoke obscurant system that is externally mounted on high mobility multipurpose wheeled vehicles (HMMWVs), known as light vehicle obscuration smoke system (LVOSS). In August 2015, a US-based tactical vehicle manufacturer, Oshkosh Defense, secured the first production contract for the manufacture and supply of JLTVs. It is expected that the JLTVs will also have similar characteristics as that of the HMMWVs with mounted LVOSS so that they have expanded operational capabilities and can be used to cover various missions.
Competitive landscape and key vendors
At present, the primary users for military non-lethal weapons are shifting their focus from quantity to quality of impact. Quality impact coupled with cost effectiveness pose a major challenge for the vendors in the non-lethal weapons market. To counter this, vendors are
Overview of the global torpedo market
Market research analysts at Technavio predict that the global torpedo market will grow steadily during the next four years and post a CAGR of about 3% by 2021. This market research analysis identifies the increased production of lightweight torpedoes as one of the primary growth factors for this market. Lightweight torpedoes can be carried in large numbers in aircrafts or surface ships and are mainly targeted at submarines. These torpedoes are usually dropped by aircrafts closer to the target which eliminates the need for precision navigation systems, in turn, reducing the overall cost. Such advantages will result in the increased demand for torpedoes, in turn, aiding market growth. For instance, the British Navy and Air Force have already invested around USD 2 billion in Marconi's lightweight Sting Ray and the Swedish Defense Material Administration has invested almost USD 3 billion towards the development of lightweight torpedo systems.
Due to their characteristics that allow transmissions over a longer distance and at higher bandwidth, optical fibers will be used in torpedoes to keep them tethered to the submarine. This will enable torpedoes to receive real-time instructions from submarines over a longer range without any external interference. Companies such as Tethers Unlimited and NSTL have already developed a technology to enable high-speed two-way communication between torpedoes and submarines, which will make them resistant to countermeasure systems. Such advancements will increase the reliability of torpedoes, consequently driving their demand in the coming years.
Competitive landscape and key vendors
The market has a global torpedo market has a few multinational and regional suppliers who offer
Overview of the global military satellite payloads and subsystems market
Technavio’s market research analyst predicts that the global military satellite payloads and subsystems market will grow at a CAGR of more than 5% during the forecast period. With the increasing access of combatants to high-quality equipment and the growing electronic support to identify aerial, naval and ground platforms of allies and opponents, military satellites are gaining huge popularity among defense agencies across the globe. Along with the growing deployment of UAVs and advanced military equipment, the requirement of data bandwidth and reliable communication infrastructure has also increased. Military satellites play a very vital part in ensuring efficient integration and dissemination of data and information to commanders involved in different missions, which has prompted many defense agencies to make significant investments in developing advanced payloads and subsystems for military satellites.
Several defense agencies worldwide are using microsatellites in the maintenance and assistance of bigger satellites. These satellites monitor the health of satellites with sensitive functions such as global security and weather monitoring. They are used for small repairs or refueling operations and allow astronauts to eliminate dangerous exploratory missions when components malfunctions. The disposition of such satellites, in constellation with bigger satellites, can strengthen the ISR capabilities and can be rapidly developed on-demand for tactical warfare applications.
Competitive landscape and key vendors
Outlook of the global unmanned aerial vehicle (UAV) payload and subsystems market
According to Technavio’s market research analyst, the global UAV payload and subsystems market will post a CAGR of almost 8% by 2021. The growing demand for lightweight UAV payload systems is anticipated to spur this market’s growth over the forecast period. Recently, it has been observed that the use of carbon composite materials for manufacturing UAV airframes has gained acceptance among manufacturers as ensure reduced weight and enhanced service life. Since the use of carbon composite materials also helps reduce the overall maintenance cost per landing, many manufacturers have started using composite manufacturing technologies for UAVs since the last decade. For instance, a US-based composite product manufacturing company, Fiber Dynamics, has been supplying the main landing gear struts for the Predator B MQ-9 Reaper (a MALE UAV offered by General Atomics) since last ten years.
Additionally, factors such as recent advancements in stealth technology is also expected to spur this market’s growth prospects over the forecast period. The use of stealth technology, also called low observable technology, began in the late 1960s. It advocates a sub-discipline of defense tactics that promote passive electronic countermeasures to make aircraft, submarines, ships, missiles, and satellites less visible or undetectable to radars, infrared, sonars, or other detection platforms. With time, stealth technology has experienced distinguishable changes in the selection of materials, aerodynamic designs, and operational techniques of combat platforms. Along with manned platforms, various UAVs also feature stealth technology. Of late, the
The defense industry is involved in the research and development, design, and production of military materials, equipment, and facilities. The industry can be divided into two major segments: defense contractors and the arms industry.
Defense contractors are the organizations that provide products and services to military departments and governments. The arms industry produces guns, ammunition, military aircraft, and associated products.
Ongoing budget cuts and funding constraints are expected to be a major challenge for the defense industry over the next couple of years. Several major defense programs have been cancelled and new platforms lack funding support from customers.
Global revenues in the defense sector will likely continue to decrease in 2015 at an estimated rate of 1.3%. This will be offset by greater defense spending in the United Arab Emirates, India, Russia, Japan, and South Korea, as these countries work to equip their militaries with modern defense platforms and technologies.
The world’s biggest defense contractors include BAE Systems, Boeing Defense, General Dynamics, Lockheed Martin, Northrop Grumman, and Raytheon.