This global market research report provides a comprehensive analysis of the shooting ranges market by application (civil and military). It outlines the market shares for key regions such as the Americas, APAC, and EMEA. The prominent vendors analyzed in this report are Meggitt Training Systems, Polytronic International, Range Systems, Saab, and Shooting Range Industries.
Technavio has released a new market research report on the global shooting ranges market, which is expected to grow at a CAGR of around 8% between 2016 and 2020. The introduction of advanced weapon systems is the latest trend in the shooting range market. The increasing demand for enhanced training of soldiers to use the advanced warfare equipment has boosted the demand for shooting ranges. Of late, countries like the US, China, Russia, Saudi Arabia, and India are planning to replace their military equipment with modernized shooting ranges, and artillery systems, and fund military simulators training programs. Such bulk procurements of modern artillery weapons will drive the growth of shooting range market over the next four years.
“The emergence of LVC-based training is one of the latest trends upcoming in this market. Live training is cost effective and a safer option compared to battlefield simulation, which costs 5%-20% more than live training. This system has fully integrated the ground, air, and maritime assets. Moreover, this training system also develops the personnel for emergency evacuation missions and improves coordination with ground operations,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
Currently, the military segment accounts for more than 53% of the market share. During 2014, China had 2.33 million army personnel, followed by the US with over 1.4 million and India with 1.33 million active armed personnel. Due to the increasing number of extremist attacks, there has been a continued focus on strengthening the shooting skills of the police officers and soldiers. Governments worldwide have been supporting and funding these shooting programs to strengthen their respective armed forces to combat internal and external threats.
Global military shooting ranges market 2015-2020 ($ millions)
Source: Technavio, 2016
The leading vendors in the global shooting ranges market are Meggitt Training Systems, Polytronic International, Range Systems, Saab, and Shooting Range Industries. This market is highly competitive, and suppliers compete based on cost, product quality, reliability, and aftermarket service. This research report highlights that M&A and increased collaboration with partners, globally, would drive the market during the forecast period.
A more detailed analysis is available in the Technavio report Global Shooting Ranges Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
