LONDON--(EON: Enhanced Online News)--Technavio market research analysts forecast the global man-portable rocket launcher market to grow at a CAGR of more than 5% during the forecast period, according to their latest report.
“The increasing unstable security has led to an arms race and has propelled most of the countries to bolster their arsenal and include advanced weapons in their inventory”
The market study covers the present scenario and growth prospects of the global man-portable rocket launcher market for 2016-2020. The report also lists shoulder-launched and tripod-mounted rocket launchers as the two market segments based on application, with the shoulder launched rocket launcher accounting for over 83% of the market share in 2016.
According to Moutushi Saha, a lead analyst at Technavio for defense research, “Advancements in rocket launchers have given rise to a new era of miniaturized systems that help in reducing the overall payload that the soldiers are required to carry on their missions. Vendors are making deliberate efforts to develop miniature rocket launch systems to support tiny and tough missiles such as the Raytheon developed Pike.”
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Technavio aerospace and defense analysts highlight the following three market drivers that are contributing to the growth of the global man-portable rocket launcher market:
- Arms race among countries
- Need for lightweight rocket launchers
- Growing usage by law enforcement agencies
Arms race among countries
With growing terrorism and insurgent activities across the globe, the defense ministries of various countries are intensifying their countermeasure capabilities against any threats. This is driving the need for advanced launch systems such as man-portable air defense systems (MANPADS), which can support military operations during war and counter-insurgency operations. The number of tankers, fighter aircraft, and other ammunitions has increased substantially over the years with countries like the US, China, India, Russia, and the UK increasing their military budgets.
“The increasing unstable security has led to an arms race and has propelled most of the countries to bolster their arsenal and include advanced weapons in their inventory,” says Moutushi.
The US has invested in man-portable rocket launchers like RPG-7, FIM 92 Stinger missiles, Carl Gustaf recoilless rifles, and M20 Super Bazooka, which assist in both ground-level strikes for taking on tankers and air strikes for low-flying helicopters and aircraft.
Need for lightweight rocket launchers
Soldiers deployed in the battlefield need to carry several pounds of armed weapons and other equipment that assist in carrying out their mission operations. Most of the load comes from weapons systems and batteries. To enhance the soldier's performance on the battlefield, the weight needs to be reduced. The use of smart textiles has been a major contributor in reducing the weight, which incorporates various technologies that substitute the need for batteries and conductive fibers eliminating the need for meter-long wires. Weapon vendors have started replacing the conventional mortars and heavyweight portable rocket launchers like Javelin, which weighed above hundreds of pounds and 200 to 300-meter accuracy, with lightweight and highly accurate systems. Such different supplies of lightweight man-portable rocket launchers are expected to drive the market.
Growing usage by law enforcement agencies
Law enforcement agencies across countries have started using portable rocket launchers to fight internal extremism and terrorism and to maintain the overall law and order situation within the country. Since 1990, the US police department has been receiving over USD 4.3 billion worth equipment such as machine guns, rocket launchers or grenades, and mine-resistant ambush protected vehicles. Further, the excess military equipment available to army troops is handed over to the state police.
After the terrorist attack in India in November 2011, which involved 10 terrorists from Pakistan who carried out random firing at six places in Mumbai, the Mumbai Police was equipped with weapons like rocket launchers, automatic grenade launchers, under barrel grenade launchers, mortars, and projector grenades. In May 2016, the Russian Interior Ministry was reported to have purchased 120 portable flame rocket launchers for the newly created Russian National Guard. The launcher systems have a target range of 50 square meters in open spaces and about 80 square meters inside. These developments augur well for the growth of the market.
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