(MENAFN- PR Newswire) CHICAGO, Jan. 25, 2023 /PRNewswire/ -- The remote weapon station market is projected to grow from USD 6.6 billion to USD 7.5 billion by 2027, at a CAGR of 2.8% from 2022 to 2027
according to a new report by MarketsandMarketsTM. This growth can be attributed to increasing incidences of armed conflicts, war, and terrorism, which are driving the demand for remote weapon stations globally.
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Based on platform, the land segment is expected to lead the remote weapon station market during the forecast period
The land segment is anticipated to lead the remote weapon station market in terms of platform in 2022 and is anticipated to do so through 2027. Emerging nations are developing sizable armies of infantry fighting vehicles (IFVS) and armored vehicles, including China and India. These nations are putting more money into automated technology and concentrating on producing a variety of offensive fighting vehicles. For example, India and Russia agreed to a contract in 2019 for the supply of 464 T-90 main combat tanks, which will be crucial to Indias offensive operations against China and Pakistan.
Due to the increased global focus on upgrading defence equipment, the remote weapon station sensors sub section of the market by product is anticipated to see the greatest CAGR.
During the forecast period, the sensors section is anticipated to increase at the greatest CAGR. Human machine interface, sensors, and weapons & armaments are the three component categories used to assess and segment the market for remote weapon stations. The segment of weapons & armaments dominates the market for remote weapon stations. During the forecast period, the sensors section is anticipated to increase at the greatest CAGR. The usage of sensor fusion technology and the sensor suite, which is continuously updated to provide improved detection and decision-making, can be credited with this rise. Combining information from important sensors gives the warrior the autonomy to assess the tactical environment quickly and react effectively to threats.
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The market for the remote weapon station in the Europe is projected to grow at the highest CAGR during the forecast period
Due to rising defense spending by emerging nations like UK and France to innovate and create reliable remote weapon stations, the remote weapon station market in the Europe region has experienced rapid expansion.
According to estimates, Germany will hold the greatest market share for remote weapon stations in the Europe region in 2022. This quick development can be linked to the expansion of research and development operations in the area for the creation of remote weapon stations with superior technological designs.
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