ID: MRFR/A&D/2430-HCR | February 2021 | Region: Global | 110 Pages
Table of Contents
1. Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Naval Gun System Market, by Platform
1.1.2. Global Naval Gun System Market, by Weapon Type
1.1.3. Global Naval Gun System Market, by Caliber Size
1.1.4. Global Naval Gun System Market, by Region
2. Market Introduction
2.1. Market Definition
2.2. Scope of the Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
4. Market Insights
5. Market Dynamics
5.1. Introduction
5.2. Drivers
5.3. Restraints
5.4. Opportunities
5.5. Challenges
5.6. Market/Technological Trends
5.7. Patent Trends
5.8. Regulatory Landscape/Standards
6. Market Factor Analysis
6.1. Value Chain/Supply Chain Analysis
6.1.1. R&D
6.1.2. Manufacturing
6.1.3. Distribution & Sales
6.1.4. Post-Sales Monitoring
6.2. Porterβs Five Forces Analysis
6.2.1. Threat of New Entrants
6.2.2. Bargaining Power of Buyers
6.2.3. Threat of Substitutes
6.2.4. Rivalry
6.2.5. Bargaining Power of Supplies
7. Global Naval Gun System Market, by Platform
7.1. Introduction
7.2. Large Ships
7.2.1. Market Estimates & Forecast, 2020-2027
7.2.2. Market Estimates & Forecast, by Region, 2020-2027
7.3. Medium Ships
7.3.1. Market Estimates & Forecast, 2020-2027
7.3.2. Market Estimates & Forecast, by Region, 2020-2027
7.4. Small Ships
7.4.1. Market Estimates & Forecast, 2020-2027
7.4.2. Market Estimates & Forecast, by Region, 2020-2027
8. Global Naval Gun System Market, by Weapon Type
8.1. Introduction
8.2. Rail Gun
8.2.1. Market Estimates & Forecast, 2020-2027
8.2.2. Market Estimates & Forecast, by Region, 2020-2027
8.3. Laser Gun
8.3.1. Market Estimates & Forecast, 2020-2027
8.3.2. Market Estimates & Forecast, by Region, 2020-2027
9. Global Naval Gun System Market, by Caliber Size
9.1. Introduction
9.2. < 100 mm
9.2.1. Market Estimates & Forecast, 2020-2027
9.2.2. Market Estimates & Forecast, by Region, 2020-2027
9.3. 100β200 mm
9.3.1. Market Estimates & Forecast, 2020-2027
9.3.2. Market Estimates & Forecast, by Region, 2020-2027
9.4. > 200m
9.4.1. Market Estimates & Forecast, 2020-2027
9.4.2. Market Estimates & Forecast, by Region, 2020-2027
10. Global Naval Gun System Market, by Region
10.1. Introduction
10.2. North America
10.2.1. Market Estimates & Forecast, by Country, 2020-2027
10.2.2. Market Estimates & Forecast, by Platform, 2020-2027
10.2.3. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.2.4. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.2.5. US
10.2.5.1. Market Estimates & Forecast, by Platform, 2020-2027
10.2.5.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.2.5.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.2.6. Canada
10.2.6.1. Market Estimates & Forecast, by Platform, 2020-2027
10.2.6.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.2.6.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.3. Europe
10.3.1. Market Estimates & Forecast, by Country, 2020-2027
10.3.2. Market Estimates & Forecast, by Platform, 2020-2027
10.3.3. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.3.4. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.3.5. UK
10.3.5.1. Market Estimates & Forecast, by Platform, 2020-2027
10.3.5.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.3.5.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.3.6. Germany
10.3.6.1. Market Estimates & Forecast, by Platform, 2020-2027
10.3.6.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.3.6.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.3.7. France
10.3.7.1. Market Estimates & Forecast, by Platform, 2020-2027
10.3.7.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.3.7.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.3.8. Italy
10.3.8.1. Market Estimates & Forecast, by Platform, 2020-2027
10.3.8.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.3.8.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.3.9. Rest of Europe
10.3.9.1. Market Estimates & Forecast, by Platform, 2020-2027
10.3.9.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.3.9.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.4. Asia-Pacific
10.4.1. Market Estimates & Forecast, by Country, 2020-2027
10.4.2. Market Estimates & Forecast, by Platform, 2020-2027
10.4.3. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.4.4. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.4.5. China
10.4.5.1. Market Estimates & Forecast, by Platform, 2020-2027
10.4.5.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.4.5.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.4.6. Japan
10.4.6.1. Market Estimates & Forecast, by Platform, 2020-2027
10.4.6.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.4.6.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.4.7. India
10.4.7.1. Market Estimates & Forecast, by Platform, 2020-2027
10.4.7.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.4.7.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.4.8. South Korea
10.4.8.1. Market Estimates & Forecast, by Platform, 2020-2027
10.4.8.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.4.8.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.4.9. Rest of Asia-Pacific
10.4.9.1. Market Estimates & Forecast, by Platform, 2020-2027
10.4.9.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.4.9.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.5. Middle East & Africa
10.5.1. Market Estimates & Forecast, by Country, 2020-2027
10.5.2. Market Estimates & Forecast, by Platform, 2020-2027
10.5.3. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.5.4. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.5.5. UAE
10.5.5.1. Market Estimates & Forecast, by Platform, 2020-2027
10.5.5.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.5.5.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.5.6. Saudi Arabia
10.5.6.1. Market Estimates & Forecast, by Platform, 2020-2027
10.5.6.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.5.6.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.5.7. Israel
10.5.7.1. Market Estimates & Forecast, by Platform, 2020-2027
10.5.7.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.5.7.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.5.8. Rest of the Middle East & Africa
10.5.8.1. Market Estimates & Forecast, by Platform, 2020-2027
10.5.8.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.5.8.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.6. Latin America
10.6.1. Market Estimates & Forecast, by Country, 2020-2027
10.6.2. Market Estimates & Forecast, by Platform, 2020-2027
10.6.3. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.6.4. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.6.5. Brazil
10.6.5.1. Market Estimates & Forecast, by Platform, 2020-2027
10.6.5.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.6.5.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
10.6.6. Rest of Latin America
10.6.6.1. Market Estimates & Forecast, by Platform, 2020-2027
10.6.6.2. Market Estimates & Forecast, by Weapon Type, 2020-2027
10.6.6.3. Market Estimates & Forecast, by Caliber Size, 2020-2027
11. Competitive Landscape
11.1. Competitive Overview
11.2. Competitor Dashboard
11.3. Major Growth Strategies in the Global Naval Gun System Market
11.4. Competitive Benchmarking
11.5. Market Share Analysis
11.6. Honeywell International Inc.: The Leading Player in Terms of Number of Developments in the Global Naval Gun System Market
11.7. Key Developments & Growth Strategies
11.7.1. Weapon Type Launches/Service Deployments
11.7.2. Mergers & Acquisitions
11.7.3. Joint Ventures
12. Company Profiles
12.1. BAE Systems plc
12.1.1. Company Overview
12.1.2. Products/Services Offered
12.1.3. Financial Overview
12.1.4. Key Developments
12.1.5. SWOT Analysis
12.1.6. Key Strategies
12.2. Boeing
12.2.1. Company Overview
12.2.2. Products /Services Offered
12.2.3. Financial Overview
12.2.4. Key Developments
12.2.5. SWOT Analysis
12.2.6. Key Strategies
12.3. Bohemia Interactive Simulations
12.3.1. Company Overview
12.3.2. Products /Services Offered
12.3.3. Financial Overview
12.3.4. Key Developments
12.3.5. SWOT Analysis
12.3.6. Key Strategies
12.4. General Dynamics Corporation
12.4.1. Company Overview
12.4.2. Products /Services Offered
12.4.3. Financial Overview
12.4.4. Key Developments
12.4.5. SWOT Analysis
12.4.6. Key Strategies
12.5. Israel Aerospace Industries
12.5.1. Company Overview
12.5.2. Products /Services Offered
12.5.3. Financial Overview
12.5.4. Key Developments
12.5.5. SWOT Analysis
12.5.6. Key Strategies
12.6. Israel Military Industries
12.6.1. Company Overview
12.6.2. Products /Services Offered
12.6.3. Financial Overview
12.6.4. Key Developments
12.6.5. SWOT Analysis
12.6.6. Key Strategies
12.7. Kratos Defense & Security Solutions, Inc.
12.7.1. Company Overview
12.7.2. Products /Services Offered
12.7.3. Financial Overview
12.7.4. Key Developments
12.7.5. SWOT Analysis
12.7.6. Key Strategies
12.8. Lockheed Martin Corporation
12.8.1. Company Overview
12.8.2. Products /Services Offered
12.8.3. Financial Overview
12.8.4. Key Developments
12.8.5. SWOT Analysis
12.8.6. Key Strategies
12.9. L-3 Technologies, Inc.
12.9.1. Company Overview
12.9.2. Products /Services Offered
12.9.3. Financial Overview
12.9.4. Key Developments
12.9.5. SWOT Analysis
12.9.6. Key Strategies
12.10. Meggitt PLC
12.10.1. Company Overview
12.10.2. Products /Services Offered
12.10.3. Financial Overview
12.10.4. Key Developments
12.10.5. SWOT Analysis
12.10.6. Key Strategies
12.11. Northrop Grumman Corporation
12.11.1. Company Overview
12.11.2. Products /Services Offered
12.11.3. Financial Overview
12.11.4. Key Developments
12.11.5. SWOT Analysis
12.11.6. Key Strategies
12.12. PIT-RADWAR S.A.
12.12.1. Company Overview
12.12.2. Products /Services Offered
12.12.3. Financial Overview
12.12.4. Key Developments
12.12.5. SWOT Analysis
12.12.6. Key Strategies
12.13. Raytheon Company
12.13.1. Company Overview
12.13.2. Products /Services Offered
12.13.3. Financial Overview
12.13.4. Key Developments
12.13.5. SWOT Analysis
12.13.6. Key Strategies
12.14. Saab AB
12.14.1. Company Overview
12.14.2. Products /Services Offered
12.14.3. Financial Overview
12.14.4. Key Developments
12.14.5. SWOT Analysis
12.14.6. Key Strategies
12.15. Thales Group
12.15.1. Company Overview
12.15.2. Products /Services Offered
12.15.3. Financial Overview
12.15.4. Key Developments
12.15.5. SWOT Analysis
12.15.6. Key Strategies
13. Appendix
13.1. References
13.2. Related Reports
13.3. List of Abbreviations
14. Industry Insights
Note: This table of contents is tentative and subject to change as the research progresses.
List of Tables
Table 1 Global Naval Gun System Market, by Region, 2020-2027
Table 2 North America: Naval Gun System Market, by Country, 2020-2027
Table 3 Europe: Naval Gun System Market, by Country, 2020-2027
Table 4 Asia-Pacific: Naval Gun System Market, by Country, 2020-2027
Table 5 Middle East & Africa: Naval Gun System Market, by Country, 2020-2027
Table 6 Latin America: Naval Gun System Market, by Country, 2020-2027
Table 7 Global Naval Gun System Market Size, by Region, 2020-2027
Table 8 North America: Naval Gun System Market Size, by Country, 2020-2027
Table 9 Europe: Naval Gun System Market Size, by Country, 2020-2027
Table 10 Asia-Pacific: Naval Gun System Market Size, by Country, 2020-2027
Table 11 Middle East & Africa: Naval Gun System Market Size, by Country, 2020-2027
Table 12 Latin America: Naval Gun System Market Size, by Country, 2020-2027
Table 13 Global Naval Gun System Platform Market, by Region, 2020-2027
Table 14 North America: Naval Gun System Platform Market, by Country, 2020-2027
Table 15 Europe: Naval Gun System Platform Market, by Country, 2020-2027
Table 16 Asia-Pacific: Naval Gun System Platform Market, by Country, 2020-2027
Table 17 Middle East & Africa: Naval Gun System Platform Market, by Country, 2020-2027
Table 18 Latin America: Naval Gun System Platform Market, by Country, 2020-2027
Table 19 Global Naval Gun System Weapon Type Market, by Region, 2020-2027
Table 20 North America: Naval Gun System Weapon Type Market, by Country, 2020-2027
Table 21 Europe: Naval Gun System Weapon Type Market, by Country, 2020-2027
Table 22 Asia-Pacific: Naval Gun System Weapon Type Market, by Country, 2020-2027
Table 23 Middle East & Africa: Naval Gun System Weapon Type Market, by Country, 2020-2027
Table 24 Latin America: Naval Gun System Weapon Type Market, by Country, 2020-2027
Table 25 Global Naval Gun System Caliber Size Market, by Region, 2020-2027
Table 26 North America: Naval Gun System Caliber Size Market, by Country, 2020-2027
Table 27 Europe: Naval Gun System Caliber Size Market, by Country, 2020-2027
Table 28 Asia-Pacific: Naval Gun System Caliber Size Market, by Country, 2020-2027
Table 29 Middle East & Africa: Naval Gun System Caliber Size Market, by Country, 2020-2027
Table 30 Latin America: Naval Gun System Caliber Size Market, by Country, 2020-2027
Table 31 Global Naval Gun System Market, by Region, 2020-2027
Table 32 Global Naval Gun System Market, by Platform, 2020-2027
Table 33 Global Naval Gun System Market, by Weapon Type, 2020-2027
Table 34 Global Naval Gun System Market, by Caliber Size, 2020-2027
Table 35 North America: Naval Gun System Market, by Country, 2020-2027
Table 36 North America: Naval Gun System Market, by Platform, 2020-2027
Table 37 North America: Naval Gun System Market, by Weapon Type, 2020-2027
Table 38 North America: Naval Gun System Market, by Caliber Size, 2020-2027
Table 39 Europe: Naval Gun System Market, by Country, 2020-2027
Table 40 Europe: Naval Gun System Market, by Platform, 2020-2027
Table 41 Europe: Naval Gun System Market, by Weapon Type, 2020-2027
Table 42 Europe: Naval Gun System Market, by Caliber Size, 2020-2027
Table 43 Asia-Pacific: Naval Gun System Market, by Country, 2020-2027
Table 44 Asia-Pacific: Naval Gun System Market, by Platform, 2020-2027
Table 45 Asia-Pacific: Naval Gun System Market, by Weapon Type, 2020-2027
Table 46 Asia-Pacific: Naval Gun System Market, by Caliber Size, 2020-2027
Table 47 Middle East & Africa: Naval Gun System Market, by Country, 2020-2027
Table 48 Middle East & Africa: Naval Gun System Market, by Platform, 2020-2027
Table 49 Middle East & Africa: Naval Gun System Market, by Weapon Type, 2020-2027
Table 50 Middle East & Africa: Naval Gun System Market, by Caliber Size, 2020-2027
Table 51 Latin America: Naval Gun System Market, by Country, 2020-2027
Table 52 Latin America: Naval Gun System Market, by Platform, 2020-2027
Table 53 Latin America: Naval Gun System Market, by Weapon Type, 2020-2027
Table 54 Latin America: Naval Gun System Market, by Caliber Size, 2020-2027
List of Figures
FIGURE 1 Research Process of MRFR
FIGURE 2 Top-Down and Bottom-Up Approaches
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter's Five Forces Analysis
FIGURE 7 Value Chain Analysis
FIGURE 8 Global Naval Gun System Market Share, by Platform, 2020 (%)
FIGURE 9 Global Naval Gun System Market, by Platform, 2020-2027 (USD Million)
FIGURE 10 Global Naval Gun System Market Share, by Weapon Type, 2020 (%)
FIGURE 11 Global Naval Gun System Market, by Weapon Type, 2020-2027 (USD Million)
FIGURE 12 Global Naval Gun System Market Share, by Caliber Size, 2020 (%)
FIGURE 13 Global Naval Gun System Market, by Caliber Size, 2020-2027 (USD Million)
FIGURE 14 Global Naval Gun System Market Share (%), by Region, 2020
FIGURE 15 Global Naval Gun System Market, by Region, 2020-2027 (USD Million)
FIGURE 16 North America: Naval Gun System Market Share (%), 2020
FIGURE 17 North America: Naval Gun System Market, by Country, 2020-2027 (USD Million)
FIGURE 18 Europe: Naval Gun System Market Share (%), 2020
FIGURE 19 Europe: Naval Gun System Market, by Country, 2020-2027 (USD Million)
FIGURE 20 Asia-Pacific: Naval Gun System Market Share (%), 2020
FIGURE 21 Asia-Pacific: Naval Gun System Market, by Country, 2020-2027 (USD Million)
FIGURE 22 Middle East & Africa: Naval Gun System Market Share (%), 2020
FIGURE 23 Middle East & Africa: Naval Gun System Market, by Country, 2020-2027 (USD Million)
FIGURE 24 Latin America: Naval Gun System Market Share (%), 2020
FIGURE 25 Latin America: Naval Gun System Market, by Country, 2020-2027 (USD Million)
Market Scenario
The use of naval guns has been increasing since the commencement of World War II and has been dominating the naval industry. Naval guns are used for several purposes such as anti-piracy, warning shots, shore bombardment, surface warfare, anti-air warfare, and Littoral warfare. The development of advanced missile technology has led it to be expensive; as a result of this, the popularity of missile technology is declining. Guns are being preferred over missiles owing to their cost-effectiveness and large number of rounds available. Furthermore, gun shells cannot be shot down by missiles, and electronic jamming and decoys are useless against guns. Moreover, they can engage targets extremely close to the ship. The emergence of variety of radar, optronic, and IR sensors to guide gunfire is expected to improve the effectiveness and accuracy of gunfire. However, the shortcomings in operating performance of the naval gun systems and their high development costs are factors that are expected to hamper the growth of the market.
Naval guns are indispensable on a warship and are increasingly becoming advanced and powerful. Furthermore, guns and ammunition are becoming smarter and deadlier, as well. They are no longer a traditional mounting on a ship, but an absolute necessity. In the 21st century, the missiles started replacing naval guns in various roles, but now we can observe that naval guns have started replacing missiles to a large extent in many roles.
The factors responsible for the growth of the naval gun system market are the increased average defense budget, increasing cross border threats, and increasing procurement of naval gun. The significant technological development in the naval gun system market has resulted in reduced operational and capital costs. For instance, BAE Systems signed a contract with the US Navy to provide modernized Mk 45 guns. The Mk 45 is the lightest, most compact naval gun and is most widely deployed in the US Navy and other allied navies. Similarly, Thales Group signed a contract with the French Navy to provide support for all deployment contexts such as 12.7 mm and 20 mm guns and other weapons.
The global naval gun system market is projected to grow at 4.0% CAGR during the forecast period, 2019 to 2025.
Segmentation of the Global Naval Gun System Market
Based on platform, the global market has been segmented into large ships, medium ships, and small ships. The large ships segment accounted for the largest market share in 2018 and is expected to witness the highest CAGR during the forecast period, 2019 to 2025. Increased operational usage of heavy naval guns is driving the demand for large ships in the market.
Based on weapon type, the global market has been divided into rail gun and laser gun. The rail gun segment accounted for a larger market share in 2018 and is expected to witness a higher CAGR during the forecast period owing to the widespread usage of rail gun in naval industry for naval surface warfare and land attack.
Based on caliber size, the global market has been divided into < 100 mm, 100–200 mm, and >200 mm. The < 100 mm segment dominated the market in 2018 and is expected to witness the highest CAGR during the forecast period due to the perfect balance of range and high effectiveness for attacking land targets at long range. For instance, the Italian Oto Melara, Russian Ak-176, Chinese Ak-176 are popular naval guns in this caliber size which provide them with a significant amount of firepower, engage surface and aerial targets with equal effectiveness.
Based on the region, the market has been categorized as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America held the largest market share in 2018. However, Asia-Pacific is expected to grow with the highest CAGR during the forecast period, 2019 to 2025 due to increasing terrorism incidences and border threats.
Intended Audience
Key Players
The key players in the global naval gun system market are BAE Systems plc (UK), Lockheed Martin Corporation (US), Raytheon Company (US), Saab AB (Sweden), Thales Group (France), General Dynamics Corporation (US), Kratos Defense & Security Solutions, Inc. (US), Israel Military Industries (Israel), L-3 Technologies, Inc. (US), Northrop Grumman Corporation (US), PIT-RADWAR S.A. (Poland), Bohemia Interactive Simulations (US), Meggitt PLC (UK), Boeing (US), and Israel Aerospace Industries (Israel) .
Research Methodology
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
Secondary Research
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
Primary Research
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Key Insights
Report Customization
MRFR offers report customization to valued customers. Below are the options available for customization:
Company Profiles
In-depth profiling of additional market players (3 to 4 companies)
Country-Level Analysis
Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Frequently Asked Questions (FAQ) :
The key growth inducers in the global market include increased average defense budget, increasing cross border threats, and increasing procurement of naval gun. The significant technological development in the naval gun system market has resulted in reduced operational and capital costs.
The market can expect to grow at a rate of 4.0% in the coming years.
The platform-wise market segments analyzed in the report are large ships, medium ships, and small ships.
The rail gun segment accounted for a larger market share in 2018 and is expected to witness a higher CAGR during the forecast period.
APAC can secure the fastest growth rate over the forecast period.