Cluster munitions is a type of ground or air dropped explosive weapon that emits smaller sub-munitions. More commonly, it is also known as a cluster bomb that releases explosive bombs to destroy electrical power transmission lines, runways or disperse landmines and disperse chemical weapons. These weapons were first used in 1940 and were delivered in massive numbers across a wide area, killing thousands of civilians in war-torn countries. Basic cluster bomb consists of a hollow shell and more than 2,000 sub-munitions within it. Some cluster munitions are dispensers designed to be used by the aircraft after the ammunition has been released. The sub-munitions are attached to small parachutes that allow the bomb to descend slowly, allowing the aircraft to escape from the blast area during low-level attacks. More advancement in these types of munitions is expected to drive the market during forecast period.
MARKET DYNAMICS
Growing war like situation around the world and rising military expenditure is driving the growth of the cluster munitions market. However, less awareness in developing nations may restrain the growth of the cluster munitions market. Further, more technological advancement in the cluster munitions such as sensor based munitions is anticipated to create market opportunities for the cluster munitions market during the forecast period.
MARKET SCOPE
The "Global Cluster Munitions Market Analysis to 2028" is a specialized and in-depth study of the cluster munitions market with a special focus on the global market trend analysis. The report aims to provide an overview of cluster munitions market with detailed market segmentation by type, application, and geography. The global cluster munitions market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading cluster munitions market players and offers key trends and opportunities in the cluster munitions market.
MARKET SEGMENTATION
The global cluster munitions market is segmented on the basis of type and application. On the basis of type, the market is segmented as anti-tank cluster munitions and anti-personnel cluster munitions. Further based on application, market is segmented as manoeuvre and defend.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global cluster munitions market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The cluster munitions market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting cluster munitions market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive porter's five forces analysis highlighting factors affecting the cluster munitions market in these regions.
MARKET PLAYERS
The reports cover key developments in the cluster munitions market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from cluster munitions market are anticipated to lucrative growth opportunities in the future with the rising demand for cluster munitions. Below mentioned is the list of few companies engaged in the cluster munitions market.
The report also includes the profiles of key cluster munitions market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Avibras Ind?stria Aeroespacial
- Bharat Dynamics Limited
- China Ordnance Industries Group Corporation Limited
- Hanwha Group
- IMI Systems
- L3Harris Technologies, Inc.
- LIG Nex1
- Lockheed Martin Corporation
- Northrop Grumman
- Poongsan Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.