Fire Control System Market Is Driven By Increasing Defense Expenditure of Emerging Countries Till 2023

Fire protection systems are a set of connected devices or systems that are used to prevent fire accidents. These systems also reduce the impact of uncontrolled fires, thus saving lives and property. Fire protection systems comprise fire detection, fire suppression, fire sprinkler, fire analysis, and fire response systems that are required in emergencies.

The Fire Control System market growth is mainly attributed to the growth of the construction industry, the increase in the loss of human lives and property due to fire breakouts, stringent regulatory compliances, and a rise in the adoption of wireless technology in fire detection systems. The global fire protection system market size is expected to reach USD 95.4 billion by 2025 from USD 67.7 billion in 2020, growing at a CAGR of 7.1%. Johnson Controls (Ireland), United Technologies (US), and Honeywell (US) are the leading players of the fire protection system market.

Based on platform, the fire control system market is projected to be led by the land segment from 2018 to 2023. Fire control systems bolster the defense capabilities of land platforms and provide greater safety to soldiers during war and anti-terrorist operations. Increase in defense expenditures by US, Russia, China, and Saudi Arabia, India. Additionally, the expansion of military capabilities by emerging nations have accelerated the demand for fire control systems for different classes of armored vehicles. For instance, in January 2018, BAE Systems was awarded a contract worth USD 46.8 million by the US Navy to upgrade the existing MK45 naval guns to increase the firepower and extend the range of weapons.

Browse More Insights: https://www.marketsandmarkets.com/Market-Reports/fire-control-system-market-81007199.html

Based on weapon class, the launchers segment of the fire control system market is projected to lead from 2018 to 2023. This growth can be attributed to the enhancement of troop safety and the replacement of old launchers with modern automated launchers by militaries around the world for various platforms, such as land, naval, and airborne. The demand for automatic grenade, missile, rocket, and torpedo launchers has increased in North America, Europe, and Asia Pacific, thereby leading to the increasing need for EO/IR and integrated fire control systems. Various US defense companies are manufacturing advanced weapon stations with integrated fire control systems.

North America and Asia Pacific region projected to be high potential markets for the implementation of fire control systems

The fire control system market in North America is expected to witness substantial growth during the forecast period due to the high demand for fire control systems from the US Department of Defense. Fire control systems are integrated into larger advanced weapon platforms for enhanced target acquisition and firing. Advanced fire control systems are manufactured mainly by US defense companies, such as General Dynamics Corporation (US) and Raytheon Company (US). These factors are leading to an increasing demand for fire control systems in North America.

Rapid growth of the fire control system market in the Asia Pacific can be attributed to the increasing defense budgets to innovate and develop robust fire control systems by emerging countries, such as China and India. China is rapidly reforming its military weapons and systems, whereas India recently signed a deal with Russia for the supply of 464 T-90 tanks with remote weapon stations mounted on them. The increase in defense expenditures by India and China and the expansion of military capabilities by emerging nations have accelerated the demand for fire control systems for different platforms such as land, airborne, and naval.

Major players in the fire control system market include companies, such as Elbit Systems Ltd (Israel), General Dynamics Corporation (US), Rheinmetall AG (Germany), BAE Systems (UK), Lockheed Martin (US), Safran (France), Leonardo (Italy), Raytheon Company (US), SAAB (Sweden), Aselsan A.S. (Turkey), Northrop Grumman (US), and Israel Aerospace Industries (Israel), which have made significant contributions to the global fire control system market.

Carrier, operating subsidiary of United Technologies, has been offering a broad portfolio of fire protection products for various applications. It focuses on enhancing its technology business through product launches, partnerships, and acquisitions. The company aims to improve its production of fire suppression and detection solutions. It has a research and design center in India and has opened a center of excellence in France. These R&D centers focus on the development of new products to strengthen their customer base.

Honeywell is one of the leaders in the fire protection market with strong international recognition. Key factors contributing to its market leadership include a well-positioned product portfolio, strong brand name internationally, customer retention, and global presence. Honeywell takes advantage of its ability to leverage collaborations across diverse operations in home and building automation solutions, especially in the fire and security segment. For instance, the company is collaborating with Huawei Technologies (China) to develop smart building offerings using IoT to improve the building intelligence by providing functions such as access control, intrusion monitoring, and fire detection. Honeywell also focuses on various strategic acquisitions to become the premier technology and manufacturing company with a better-positioned portfolio. For instance, in 2017, the company acquired Scame Sistemi, a global provider of fire and gas safety systems. The acquisition is expected to strengthen its product portfolio for the Home and Building Technologies segment.

Get Sample Here: https://www.marketsandmarkets.com/requestsampleNew.asp?id=81007199

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441