Key Strategies Adopted by the Leading Players to grow in the Remote Weapon Station Market

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Key Strategies Adopted by the Leading Players to
grow in the Remote Weapon Station Market The
Remote Weapon Station Market is expected to grow
from an estimated USD 8.48 billion in 2018 to
USD 14.42 billion by 2023, at a CAGR of 11.20
during the forecast period. Kongsberg Gruppen
(Norway), Elbit Systems (Israel), Raytheon
Company (US), Saab AB (Sweden),
Leonardo-Finmeccanica (Italy), and Thales Group
(France), among others, are the key players in
the remote weapon station market. These companies
are expected to continue to lead during the
forecast period.
These companies manufacturing
have facilities
worldwide and are focused on technological
innovations and the development of high-quality
remote weapon systems. The remote weapon station
market is highly competitive, with a
large number of global and local market players
who have adopted various strategies to expand
their global presence and increase their market
shares. Contracts new product launches are the
major strategies adopted by market players to
grow in the remote weapon station market. Based
on platform, the land segment is expected to lead
the remote weapon station market during the
forecast period. Based on platform, the remote
weapon station market is estimated to be led by
the land segment in 2018 and is expected to
continue to lead till 2023. Emerging countries,
such as China and India, among others, are
building large forces of Infantry Fighting
Vehicles (IFVs) and armored vehicles. These
countries are investing more in automated
technologies and focusing on manufacturing a wide
range of offensive fighting vehicles. For
instance, in 2016 India signed a contract with
Russia for the supply of 464 T-90 main battle
tanks that will help the country significantly in
its offensive operations vis-à-vis China and
Pakistan. The sensors segment is projected to
grow at the highest CAGR during the forecast
period. The remote weapon station market has been
analyzed and segmented based on component into
human machine interface, sensors, and weapons
armaments. The remote weapon station market is
led by the weapons armaments segment. The
sensors segment is projected to grow at the
highest CAGR during the forecast period. This
growth can be attributed to the use of the sensor
fusion technology, and the
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sensor suite, which continues to be upgraded to
deliver enhanced detection and decision-making.
Combining data from key sensors provides the
warrior an autonomous ability to rapidly
evaluate the overall tactical scenario and
respond efficiently to identify threats. Based
on region, Asia Pacific is projected to grow at
the highest CAGR during the forecast period The
rapid growth of the remote weapon station market
in the Asia Pacific can be attributed to the
increasing defense budgets to innovate and
develop robust remote weapon stations by
emerging countries, such as China and India. For
instance, India- based companies, such as
Mahindra Defense Systems and Bharat Electronics,
recently launched their newly developed remote
weapon stations for armored vehicles. China is
estimated to account for the largest share of the
Asia Pacific remote weapon station market in
2018. This rapid growth can be attributed to the
increasing research development activities
undertaken in the region for the development of
advanced technology-based designs of remote
weapon stations. Ask for Sample Report
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