(Aviation-NewsWire.Com, October 09, 2018 ) The weapon industry comprises establishments engaged in the manufacturing of weapons such as small arms and ammunition other ordnance, and/or ordnance accessories, bombs, depth charges, rockets (except guided missiles), rocket launcher, grenades, mines, torpedoes and other military knives and other non-gun powder weapons.
The global weapon manufacturing market has shown a decline in the past years with a CAGR of over negative 1%. The year 2013 recorded highest ever growth in this market, and then declined to around $500 in 2017 as per TBRC’s inhouse consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the weapon manufacturing market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
The technological developments and R&D activities in weaponry are expected to result in the development of weapons such as smart guns and nuclear ballistic missiles, which contribute to the market growth. The increasing focus of multiple governments to expand their military arsenal and the increasing budget for the sector are also some of the key drivers of the weapons market.
Companies included in the report are Lockheed Martin Corp, BAE Systems, Raytheon, Boeing, and General Dynamics Corp.
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