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
Overview of the global submarine-launched missile market
The global submarine-launched missile market is anticipated to grow at a steady rate and will post a CAGR of close to 5% during the forecast period. Increasing investments in the development of submarine-launched missiles will drive the growth prospects for the global submarine-launched missile market in the forthcoming years. The rising need for countries to maintain their competitiveness on a global level will lead to the extensive development of advanced submarine-launched missiles. Also, various regions such as the Americas and Europe are increasing their investments in the development of submarine-launched missiles to strengthen their submarine forces. Moreover, such investments will help in the development, maintenance, and procurement of various missile systems. For instance, in 2016, post the announcement of the modernization of the US nuclear forces, Russia commissioned designers to design and develop Sarmat, an advanced SLBM, by 2020.
The emergence of 3D printed submarine-launched missiles will drive the growth prospects for the global submarine-launched missile market in the forthcoming years. At present, 3D printing technology is increasingly replacing conventional techniques such as the computerized numerical control (CNC) cutting, mold manufacturing, or canvas printing. One of the major factors responsible for the growing popularity of 3D printing technology is its increasing use in printing electronics directly onto 3D surfaces, such as on rocket engines, missile fins, and their guidance systems. Also, since it reduces the size and weight of submarine-launched missile systems, it is highly preferred in the submarine industry. Some of the benefits of using of 3D-printed submarine-launched missiles are its cost efficiency, improved competence of missiles, just-in-time (JIT) manufacturing, optimized performance, and weight reduction.
Overview of the global man-portable rocket launcher market
The global man-portable rocket launcher market is anticipated to grow at a steady rate and will post a CAGR of more than 5% during the forecast period. The increasing need for lightweight rocket launchers will drive the growth prospects for the global man-portable rocket launcher market until the end of 2021. To assist soldiers during their mission operations, they need to carry several pounds of armed weapons and other equipment to the battlefield, which comprises of weapon systems and batteries. Since these weapons and equipment are heavy to carry, it is necessary to provide the soldiers with lightweight tools to enhance their performance on the battlefield. For instance, some of the lightweight rocket launchers are M3 Carl Gustaf, RGW 90, RPO-A Shmel, and RPG-7. Furthermore, one of the major factors responsible for bringing down the weight of rocket launchers is the use of smart textiles. As a result, various weapon vendors have started replacing the conventional mortars and heavyweight portable rocket launchers like Javelin with lightweight and highly accurate systems.
The advent of launchers with low collateral damage will drive the growth prospects for the global man-portable rocket launcher market during the forecasted period. One of the emerging trends in the market is the advent of launcher systems that can be operated across various locations such as buildings, urban areas, and confined spaces. Also, they are designed to reduce the firing noise, flash, and smoke. Furthermore, the ability of these low collateral damage rocket launchers to break walls or doors of buildings during an assault in urban warfare operations is increasing its demand in the market.
Competitive landscape and key vendors
The global man-portable rocket launcher market is highly competitive and diversified due to the presence of a
Overview of the global attack helicopter market
Technavio’s market research analyst predicts the global attack helicopter market to grow at a CAGR of more than 5% between 2017 and 2021. Attack helicopters play a crucial role in both manned and unmanned aircraft owing to the integration of new network electronics in them. Countries are increasingly deploying attack helicopters for quick strikes and rescue missions. Due to their mobility feature, most of the armies are making extensive investments in the development, manufacture, and upgradation of such aircraft. Attack helicopters provide ground attack forces with high flexibility to armies which need a complete arsenal for military operations. Also, these helicopters are capable of rapidly destroying multiple enemy targets simultaneously, while generating maximum kill ratio before being detected by the enemy forces. These platforms can also easily deploy fire-and-forget long-range engagement missiles. With the growing incorporation of advanced lethal weaponry systems in several defense systems across the globe, the growth prospects for attack helicopter market will also increase in the coming years.
With the growing importance of the implementation of vertical take-off landing (VTOL) technology in military platforms, several governments and defense authorities across the globe are undertaking various R&D initiatives to incorporate VTOL in attack helicopters. Moreover, the increasing requirement for forward flight and a high lift has necessitated the focus on the installation of VTOL technology in attack helicopters. For instance, in 2016, AVX
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.