Close-in Weapon Systems Market Key Findings by 2031
The Close-In Weapon Systems Market is expected to register a CAGR of 8.7% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (Gun-based System, Missile-based System); Platform (Land-based, Naval-based); Armament (20 mm, 30 mm, 35 mm, 40 mm, Others); Technology (Radar, Active Homing, Passive Homing, Infrared, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Close-In Weapon Systems Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Close-In Weapon Systems Market Segmentation
Type- Gun-based System
- Missile-based System
- Land-based
- Naval-based
- 20 mm
- 30 mm
- 35 mm
- 40 mm
- Others
- Radar
- Active Homing
- Passive Homing
- Infrared
- Others
- Radar
- Active Homing
- Passive Homing
- Infrared
- Others
Strategic Insights
Close-In Weapon Systems Market Growth Drivers- Growing Threat of Missiles: The growing threat of missile attacks due to sudden rise in missile and rocket artillery procurements across different regions is one the major factors driving the growth of close-in weapons systems market.
- Advanced Aircraft Threats: The growing deployment of next generation combat and support aircraft is another major factor supporting the deployment of close-in weapons systems among different land and naval platforms.
- Increasing Threat of Asymmetric Warfare: The increasing threat of asymmetric warfare is a significant driver for the close-in weapon systems (CIWS) market. As conflicts evolve, military forces face unconventional threats from non-state actors, such as insurgents and terrorist groups, who utilize a variety of tactics and technologies. CIWS provide critical defense against these rapidly changing threats, particularly in urban environments or during close-quarters combat. The growing recognition of the need for effective close-range defense solutions is driving investments in CIWS technologies by armed forces worldwide.
- Adoption of Directed Energy Weapons: The growing adoption of directed energy weapons such as laser weapons for close combat operations is one of the factors likely to generate new opportunities for close-in weapons systems market vendors in the coming years.
- Rising Naval Operations and Maritime Security Concerns: The rising naval operations and maritime security concerns are key factors propelling the CIWS market. With increasing tensions in international waters and a heightened focus on securing maritime trade routes, naval forces require effective defensive systems to protect ships from potential attacks, including missile strikes and drone threats. CIWS are essential components of naval defense strategies, ensuring that vessels can defend themselves against close-range threats. As naval operations expand and evolve, the demand for advanced CIWS solutions will continue to grow.
- Advancements in Technology and System Integration: Advancements in technology and system integration are driving innovation in the close-in weapon systems market. The development of advanced sensors, automation, and artificial intelligence enables CIWS to operate more effectively and with greater precision. Integrating CIWS with existing defense systems allows for enhanced situational awareness and quicker response times to threats. As military forces seek to modernize their arsenals and improve operational efficiency, the demand for technologically advanced CIWS solutions will increase, creating opportunities for manufacturers in this sector.
- Demand for Naval Technologies Modernization: The growing demand for naval modernization of fleet and related technologies is one of the major factors supporting the deployment of close-in weapons systems across different naval platforms including naval ships such as frigates, corvettes, destroyers, and aircraft carriers.
- Development of Next-Generation CIWS Technologies: One significant opportunity in the close-in weapon systems (CIWS) market is the development of next-generation CIWS technologies. As threats evolve, military forces are looking for advanced systems that can provide enhanced capabilities, such as improved targeting, faster response times, and greater accuracy. Innovations in fields like directed energy weapons, high-energy lasers, and electromagnetic railguns present exciting prospects for the future of CIWS. By investing in research and development of these cutting-edge technologies, manufacturers can position themselves as leaders in the market and meet the growing demand for more effective defense systems.
- Increased Focus on Integrated Defense Solutions: The increased focus on integrated defense solutions presents an opportunity for CIWS manufacturers to expand their offerings. Modern military operations require systems that work seamlessly together, enhancing overall effectiveness against multi-faceted threats. By providing CIWS that can be integrated with other defense systems—such as radar, command and control, and surveillance technologies—manufacturers can create comprehensive solutions that meet the complex needs of armed forces. This integration can lead to enhanced situational awareness and improved operational efficiency, making CIWS an essential component of modern defense strategies.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Close-In Weapon Systems Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Close-In Weapon Systems Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Close-In Weapon Systems Market is estimated to witness a CAGR of 8.7% from 2023 to 2031
The major factors driving the close-in weapon systems market are:
1. Growing Threat of Missiles
2. Advanced Aircraft Threats
Some of the major trends driving the close-in weapon systems market are:
1. Demand for Naval Technologies Modernization
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Close-in Weapon Systems Market - By Type
1.3.2 Close-in Weapon Systems Market - By Platform
1.3.3 Close-in Weapon Systems Market - By Armament
1.3.4 Close-in Weapon Systems Market - By Technology
1.3.5 Close-in Weapon Systems Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CLOSE-IN WEAPON SYSTEMS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. CLOSE-IN WEAPON SYSTEMS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. CLOSE-IN WEAPON SYSTEMS MARKET - GLOBAL MARKET ANALYSIS
6.1. CLOSE-IN WEAPON SYSTEMS - GLOBAL MARKET OVERVIEW
6.2. CLOSE-IN WEAPON SYSTEMS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CLOSE-IN WEAPON SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. GUN-BASED SYSTEM
7.3.1. Overview
7.3.2. Gun-based System Market Forecast and Analysis
7.4. MISSILE-BASED SYSTEM
7.4.1. Overview
7.4.2. Missile-based System Market Forecast and Analysis
8. CLOSE-IN WEAPON SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - PLATFORM
8.1. OVERVIEW
8.2. PLATFORM MARKET FORECASTS AND ANALYSIS
8.3. LAND-BASED
8.3.1. Overview
8.3.2. Land-based Market Forecast and Analysis
8.4. NAVAL-BASED
8.4.1. Overview
8.4.2. Naval-based Market Forecast and Analysis
9. CLOSE-IN WEAPON SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - ARMAMENT
9.1. OVERVIEW
9.2. ARMAMENT MARKET FORECASTS AND ANALYSIS
9.3. 20 MM
9.3.1. Overview
9.3.2. 20 mm Market Forecast and Analysis
9.4. 30 MM
9.4.1. Overview
9.4.2. 30 mm Market Forecast and Analysis
9.5. 35 MM
9.5.1. Overview
9.5.2. 35 mm Market Forecast and Analysis
9.6. 40 MM
9.6.1. Overview
9.6.2. 40 mm Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. CLOSE-IN WEAPON SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
10.1. OVERVIEW
10.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
10.3. RADAR
10.3.1. Overview
10.3.2. Radar Market Forecast and Analysis
10.4. ACTIVE HOMING
10.4.1. Overview
10.4.2. Active Homing Market Forecast and Analysis
10.5. PASSIVE HOMING
10.5.1. Overview
10.5.2. Passive Homing Market Forecast and Analysis
10.6. INFRARED
10.6.1. Overview
10.6.2. Infrared Market Forecast and Analysis
10.7. OTHERS
10.7.1. Overview
10.7.2. Others Market Forecast and Analysis
11. CLOSE-IN WEAPON SYSTEMS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Close-in Weapon Systems Market Overview
11.1.2 North America Close-in Weapon Systems Market Forecasts and Analysis
11.1.3 North America Close-in Weapon Systems Market Forecasts and Analysis - By Type
11.1.4 North America Close-in Weapon Systems Market Forecasts and Analysis - By Platform
11.1.5 North America Close-in Weapon Systems Market Forecasts and Analysis - By Armament
11.1.6 North America Close-in Weapon Systems Market Forecasts and Analysis - By Technology
11.1.7 North America Close-in Weapon Systems Market Forecasts and Analysis - By Countries
11.1.7.1 United States Close-in Weapon Systems Market
11.1.7.1.1 United States Close-in Weapon Systems Market by Type
11.1.7.1.2 United States Close-in Weapon Systems Market by Platform
11.1.7.1.3 United States Close-in Weapon Systems Market by Armament
11.1.7.1.4 United States Close-in Weapon Systems Market by Technology
11.1.7.2 Canada Close-in Weapon Systems Market
11.1.7.2.1 Canada Close-in Weapon Systems Market by Type
11.1.7.2.2 Canada Close-in Weapon Systems Market by Platform
11.1.7.2.3 Canada Close-in Weapon Systems Market by Armament
11.1.7.2.4 Canada Close-in Weapon Systems Market by Technology
11.1.7.3 Mexico Close-in Weapon Systems Market
11.1.7.3.1 Mexico Close-in Weapon Systems Market by Type
11.1.7.3.2 Mexico Close-in Weapon Systems Market by Platform
11.1.7.3.3 Mexico Close-in Weapon Systems Market by Armament
11.1.7.3.4 Mexico Close-in Weapon Systems Market by Technology
11.2. EUROPE
11.2.1 Europe Close-in Weapon Systems Market Overview
11.2.2 Europe Close-in Weapon Systems Market Forecasts and Analysis
11.2.3 Europe Close-in Weapon Systems Market Forecasts and Analysis - By Type
11.2.4 Europe Close-in Weapon Systems Market Forecasts and Analysis - By Platform
11.2.5 Europe Close-in Weapon Systems Market Forecasts and Analysis - By Armament
11.2.6 Europe Close-in Weapon Systems Market Forecasts and Analysis - By Technology
11.2.7 Europe Close-in Weapon Systems Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Close-in Weapon Systems Market
11.2.7.1.1 Germany Close-in Weapon Systems Market by Type
11.2.7.1.2 Germany Close-in Weapon Systems Market by Platform
11.2.7.1.3 Germany Close-in Weapon Systems Market by Armament
11.2.7.1.4 Germany Close-in Weapon Systems Market by Technology
11.2.7.2 France Close-in Weapon Systems Market
11.2.7.2.1 France Close-in Weapon Systems Market by Type
11.2.7.2.2 France Close-in Weapon Systems Market by Platform
11.2.7.2.3 France Close-in Weapon Systems Market by Armament
11.2.7.2.4 France Close-in Weapon Systems Market by Technology
11.2.7.3 Italy Close-in Weapon Systems Market
11.2.7.3.1 Italy Close-in Weapon Systems Market by Type
11.2.7.3.2 Italy Close-in Weapon Systems Market by Platform
11.2.7.3.3 Italy Close-in Weapon Systems Market by Armament
11.2.7.3.4 Italy Close-in Weapon Systems Market by Technology
11.2.7.4 United Kingdom Close-in Weapon Systems Market
11.2.7.4.1 United Kingdom Close-in Weapon Systems Market by Type
11.2.7.4.2 United Kingdom Close-in Weapon Systems Market by Platform
11.2.7.4.3 United Kingdom Close-in Weapon Systems Market by Armament
11.2.7.4.4 United Kingdom Close-in Weapon Systems Market by Technology
11.2.7.5 Russia Close-in Weapon Systems Market
11.2.7.5.1 Russia Close-in Weapon Systems Market by Type
11.2.7.5.2 Russia Close-in Weapon Systems Market by Platform
11.2.7.5.3 Russia Close-in Weapon Systems Market by Armament
11.2.7.5.4 Russia Close-in Weapon Systems Market by Technology
11.2.7.6 Rest of Europe Close-in Weapon Systems Market
11.2.7.6.1 Rest of Europe Close-in Weapon Systems Market by Type
11.2.7.6.2 Rest of Europe Close-in Weapon Systems Market by Platform
11.2.7.6.3 Rest of Europe Close-in Weapon Systems Market by Armament
11.2.7.6.4 Rest of Europe Close-in Weapon Systems Market by Technology
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Close-in Weapon Systems Market Overview
11.3.2 Asia-Pacific Close-in Weapon Systems Market Forecasts and Analysis
11.3.3 Asia-Pacific Close-in Weapon Systems Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Close-in Weapon Systems Market Forecasts and Analysis - By Platform
11.3.5 Asia-Pacific Close-in Weapon Systems Market Forecasts and Analysis - By Armament
11.3.6 Asia-Pacific Close-in Weapon Systems Market Forecasts and Analysis - By Technology
11.3.7 Asia-Pacific Close-in Weapon Systems Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Close-in Weapon Systems Market
11.3.7.1.1 Australia Close-in Weapon Systems Market by Type
11.3.7.1.2 Australia Close-in Weapon Systems Market by Platform
11.3.7.1.3 Australia Close-in Weapon Systems Market by Armament
11.3.7.1.4 Australia Close-in Weapon Systems Market by Technology
11.3.7.2 China Close-in Weapon Systems Market
11.3.7.2.1 China Close-in Weapon Systems Market by Type
11.3.7.2.2 China Close-in Weapon Systems Market by Platform
11.3.7.2.3 China Close-in Weapon Systems Market by Armament
11.3.7.2.4 China Close-in Weapon Systems Market by Technology
11.3.7.3 India Close-in Weapon Systems Market
11.3.7.3.1 India Close-in Weapon Systems Market by Type
11.3.7.3.2 India Close-in Weapon Systems Market by Platform
11.3.7.3.3 India Close-in Weapon Systems Market by Armament
11.3.7.3.4 India Close-in Weapon Systems Market by Technology
11.3.7.4 Japan Close-in Weapon Systems Market
11.3.7.4.1 Japan Close-in Weapon Systems Market by Type
11.3.7.4.2 Japan Close-in Weapon Systems Market by Platform
11.3.7.4.3 Japan Close-in Weapon Systems Market by Armament
11.3.7.4.4 Japan Close-in Weapon Systems Market by Technology
11.3.7.5 South Korea Close-in Weapon Systems Market
11.3.7.5.1 South Korea Close-in Weapon Systems Market by Type
11.3.7.5.2 South Korea Close-in Weapon Systems Market by Platform
11.3.7.5.3 South Korea Close-in Weapon Systems Market by Armament
11.3.7.5.4 South Korea Close-in Weapon Systems Market by Technology
11.3.7.6 Rest of Asia-Pacific Close-in Weapon Systems Market
11.3.7.6.1 Rest of Asia-Pacific Close-in Weapon Systems Market by Type
11.3.7.6.2 Rest of Asia-Pacific Close-in Weapon Systems Market by Platform
11.3.7.6.3 Rest of Asia-Pacific Close-in Weapon Systems Market by Armament
11.3.7.6.4 Rest of Asia-Pacific Close-in Weapon Systems Market by Technology
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Close-in Weapon Systems Market Overview
11.4.2 Middle East and Africa Close-in Weapon Systems Market Forecasts and Analysis
11.4.3 Middle East and Africa Close-in Weapon Systems Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Close-in Weapon Systems Market Forecasts and Analysis - By Platform
11.4.5 Middle East and Africa Close-in Weapon Systems Market Forecasts and Analysis - By Armament
11.4.6 Middle East and Africa Close-in Weapon Systems Market Forecasts and Analysis - By Technology
11.4.7 Middle East and Africa Close-in Weapon Systems Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Close-in Weapon Systems Market
11.4.7.1.1 South Africa Close-in Weapon Systems Market by Type
11.4.7.1.2 South Africa Close-in Weapon Systems Market by Platform
11.4.7.1.3 South Africa Close-in Weapon Systems Market by Armament
11.4.7.1.4 South Africa Close-in Weapon Systems Market by Technology
11.4.7.2 Saudi Arabia Close-in Weapon Systems Market
11.4.7.2.1 Saudi Arabia Close-in Weapon Systems Market by Type
11.4.7.2.2 Saudi Arabia Close-in Weapon Systems Market by Platform
11.4.7.2.3 Saudi Arabia Close-in Weapon Systems Market by Armament
11.4.7.2.4 Saudi Arabia Close-in Weapon Systems Market by Technology
11.4.7.3 U.A.E Close-in Weapon Systems Market
11.4.7.3.1 U.A.E Close-in Weapon Systems Market by Type
11.4.7.3.2 U.A.E Close-in Weapon Systems Market by Platform
11.4.7.3.3 U.A.E Close-in Weapon Systems Market by Armament
11.4.7.3.4 U.A.E Close-in Weapon Systems Market by Technology
11.4.7.4 Rest of Middle East and Africa Close-in Weapon Systems Market
11.4.7.4.1 Rest of Middle East and Africa Close-in Weapon Systems Market by Type
11.4.7.4.2 Rest of Middle East and Africa Close-in Weapon Systems Market by Platform
11.4.7.4.3 Rest of Middle East and Africa Close-in Weapon Systems Market by Armament
11.4.7.4.4 Rest of Middle East and Africa Close-in Weapon Systems Market by Technology
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Close-in Weapon Systems Market Overview
11.5.2 South and Central America Close-in Weapon Systems Market Forecasts and Analysis
11.5.3 South and Central America Close-in Weapon Systems Market Forecasts and Analysis - By Type
11.5.4 South and Central America Close-in Weapon Systems Market Forecasts and Analysis - By Platform
11.5.5 South and Central America Close-in Weapon Systems Market Forecasts and Analysis - By Armament
11.5.6 South and Central America Close-in Weapon Systems Market Forecasts and Analysis - By Technology
11.5.7 South and Central America Close-in Weapon Systems Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Close-in Weapon Systems Market
11.5.7.1.1 Brazil Close-in Weapon Systems Market by Type
11.5.7.1.2 Brazil Close-in Weapon Systems Market by Platform
11.5.7.1.3 Brazil Close-in Weapon Systems Market by Armament
11.5.7.1.4 Brazil Close-in Weapon Systems Market by Technology
11.5.7.2 Rest of South and Central America Close-in Weapon Systems Market
11.5.7.2.1 Rest of South and Central America Close-in Weapon Systems Market by Type
11.5.7.2.2 Rest of South and Central America Close-in Weapon Systems Market by Platform
11.5.7.2.3 Rest of South and Central America Close-in Weapon Systems Market by Armament
11.5.7.2.4 Rest of South and Central America Close-in Weapon Systems Market by Technology
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. CLOSE-IN WEAPON SYSTEMS MARKET, KEY COMPANY PROFILES
13.1. BAE SYSTEMS
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. DENEL LAND SYSTEMS
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. GENERAL DYNAMICS ORDNANCE AND TACTICAL SYSTEMS
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. LEONARDO SPA
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. MBDA, INC.
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. NORTHROP GRUMMAN CORPORATION
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. RAYTHEON COMPANY
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. RHEINMETALL AG
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. THALES GROUP
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. ASELSAN A.?.
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1.BAE Systems
2.Denel Land Systems
3.General Dynamics Ordnance and Tactical Systems
4.Leonardo SpA
5.MBDA, Inc.
6.Northrop Grumman Corporation
7.Raytheon Company
8.Rheinmetall AG
9.Thales Group
10.ASELSAN A..
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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