PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1407999
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1407999
Global Programmable Ammunition Market is valued at approximately USD 2.3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.75 % over the forecast period 2023-2030. Programmable Ammunition refers to specialized projectiles or rounds that can be electronically programmed or configured to perform specific functions, such as airburst detonations or changing trajectories, enhancing their effectiveness and versatility in various military and defense applications. The Programmable Ammunition Market is expanding because of factors such as an increase in number of cyber-attacks and rising spending on military systems. Moreover, rising defense spending drives demand for advanced weaponry, including Programmable Ammunition and increased adoption in modern warfare scenarios.
Global military spending reached a total of USD 2.24 trillion in 2022, according to Statista. When it came to military spending, the United States was in first place with USD 877 billion, or over 40% of the USD 2.2 trillion global military spending for that year. Demand for Programmable Ammunition, which is necessary for thwarting threats and bolstering defence capabilities, is driven by an increase in cyberattacks. According to Statista in 2022, approximately 40 % of internet users worldwide reported experiencing cybercrime. Among the surveyed countries, India had the highest proportion of internet users who fell victim to cybercrime, with nearly 70 % of respondents claiming to have experienced it. The United States ranked second, with 49 % of respondents stating they had encountered internet crime. In addition, increasing technological advancements in programmable ammunition systems and rising integration of IoT devices would create lucrative growth opportunities, However, complex regulatory standards and risk associated with data breach stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Programmable Ammunition Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market over the forecast period owing to the rising geopolitical tensions and border disputes, particularly in economies such as India and China. Additionally, the increasing defense spending by government authorities across the region is increasing the market's expansion for Programmable Ammunition in the Asia Pacific region. North America is the fastest growing region over the forecast period, owing to factors such as strong defense sector and ongoing investments in advanced weaponry. Furthermore, the increasing procurement of small, medium, and large-caliber ammunition in the region is contributing to the further growth of the Programmable Ammunitions Market.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable