Long-Term Contracts and Agreements Were Among the Key Strategies Adopted by the Leading Players to Grow in the Shoulder Fired Weapons Market
In 2016, the shoulder fired weapons market was dominated by Saab AB (Sweden), KBP Instrument Design Bureau (Russia), Rafael Advanced Defense Systems (Israel), Raytheon Company (U.S.), and Lockheed Martin (U.S.), among others. These companies are expected to continue their dominance during the forecast period.
Contracts was the key strategy adopted by the companies to grow in the shoulder fired weapons market. This strategy accounted for a share of 85% of the total growth strategies adopted by the players in the shoulder fired weapons market between 2011 and 2016.
Top two players in the shoulder fired weapons market
Saab AB (Sweden) operates through two major segments, namely, automotive and defense. The defense segment provides in electronic solutions such as active protection systems, command, control, and reconnaissance systems, land & flight simulation, and maritime & process simulation. The company’s core competencies include network-enabled optronics and sensors, platform-independent weapon systems, and capabilities-oriented innovations. The company offers RBS-70 as a man portable air defense system designed for anti-aircraft operations. RBS-70 is used by more than 20 nations worldwide and in 2011, the company introduced the new RBS 70 New Generation (RBS 70 NG). RBS 70 NG has a new generation integrated sighting system, enhanced gunner aids, high precision, unbeatable range, and laser guidance to produce a ground-based air-defense system with world-leading capabilities. The company majorly adopts contracts as the key strategy to strengthen its position in the shoulder fired weapons market. It focuses on developing innovative high-tech products and setting new technological standards for the armed forces around the world.
The Raytheon Company (U.S.) is a major player in the shoulder fired weapons market. It offers various man portable weapon systems for anti-tank and anti-aircraft operations. Raytheon offers “FIM-92 Stinger”, which is a Shoulder Fired Weapon (SFW) capable of intercepting and counteracting a number of threats by shooting them down mid-air. Raytheon also offers the ’FGM-148 Javelin‘, which is a man-portable fire-and-forget anti-tank missile used to destroy tanks, armored vehicles, bunkers, buildings, and others. The company also received a number of contracts for its FIM-92 Stingers and FGM-148 Javelins. For instance, in 2016, Raytheon was awarded a foreign military sales contract worth USD 207.9 million to supply FIM-92 Stinger MANPADS to Qatar, India, and Italy.
Companies such as Lockheed Martin Corporation (U.S.), KBP Instrument Design Bureau (Russia), MBDA (France), KB Mashinostroyeniya (Russia), and Rafael Advanced Defense Systems (Israel) have made a significant contribution to the global shoulder fired weapons market. These companies, along with Nammo AS (Norway), are expected to witness significant growth in the coming years, owing to strategies of long-term contracts and acquisitions adopted by them in recent years.
Related Reports:
Shoulder Fired Weapons Market by Component (Launcher, Ammunition), Technology (Guided, Unguided), Range (Short range, Medium Range, Extended Range) and Region - Global Forecast to 2022
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