Man-Portable Anti-Armor Weapons Market: Global Size, Opportunities, Historical Analysis, Development Status, Business Growth and Forecast: 2022-2031

Japan, Japan, Thu, 07 Apr 2022 00:46:55 / Comserve Inc. / -- The Man-Portable Anti-Armor Weapons Market is anticipated to grow at a CAGR of over 3% during the forecast period.

The Man-Portable Anti-Armor Weapons Market is anticipated to grow at a CAGR of over 3% during the forecast period.

- The roles of independent fighting groups are continuously evolving in modern battlefields. Data from recent combat operations reflect the high frequency of engagements with hostile weapon emplacements in various man-made and natural shelters that cannot be dominated solely using small arms or inferior firepower. Man-portable anti-armor weapons are designed to confront these challenges while banking on their sophisticated features such as extreme agility to react quickly to rapid changes in battlefield scenarios and adaptability to operate through diverse environments while ensuring total safety from a variety of threats.
- The market is expected to grow primarily due to the procurement and upgrade activities undertaken by armed forces to counter the emerging threats. The growth is subjective to several associative factors such as allocation of funds for the procurement of new equipment and may be adversely affected due to the rapid technological advances resulting in the short-effective life of a newly developed technology.
- However, the limited range of man-portable anti-armor weapons and the challenges associated with the transfer of technology can impede the growth of the market during the forecast period.

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Key Market Trends

Rising Demand for New-Generation Weaponry

The growth of terrorism and other insurgent activities on a global level has encouraged the defense agencies of several nations to intensify their countermeasure capabilities against a variety of threats. As an outcome of increased defense spending during the last decade, the inventory of weapons of countries has increased substantially. Countries such as the US, Russia, China, and India have been increasing the number of troops deployed across their national borders, as well as borders of their respective allies. For instance, the US Army has plans to deploy around 1,700 paratroopers in Iraq to assist Iraqi Security Forces in containing the fascist radicalism prevalent in the country. Russia maintains around 5,000 personnel as part of its peacekeeping mission in Syria. The increased deployment has led to the rapid procurement of weapons to ensure the safety of their personnel. The US has plans to procure man-portable rocket launchers like RPG-7, FIM 92 Stinger, Carl-Gustaf recoilless rifles, and M20 Super Bazooka, which can provide support to ground troops against a variety of threats including armored tanks and low-flying helicopters and UAVs. The development of new weapon systems is correlated with the defense spending of a nation. The US, China, Saudi Arabia, Russia, India, France, the UK, Japan, Germany, and South Korea were among the top defense spending countries worldwide in 2018. Regional demand for advanced weaponry has resulted in a significant increase in military expenditure with massive investments made towards the procurement of advanced weapons. For instance, in 2016, Russia purchased 120 RPO-A Shmel portable rocket launchers for its troops deployed in Chechnya. In the same year, four of Russia's troops were armed with VERBA 9K333, which is a man-portable rocket launcher equipped with a Barnaul-T automatic control system. Such developments are anticipated to drive the market during the forecast period.

Asia-Pacific to Witness the Highest Growth

Asia-Pacific is expected to be the fastest-growing market during the forecast period in terms of procurement initiatives and adjoining orders placed. Owing to the rising tension among neighboring countries, particularly the South China Sea dispute, neighboring countries are strengthening their military prowess through the rapid procurement of advanced weapon systems such as next-generation anti-tank and anti-aircraft missiles and associated man-portable launch systems. The arms race in the region is evident through the lavish defense budget spending of regional superpowers such as China and India. India has emerged as one of the top international markets for foreign defense contractors and has reportedly overtaken China as the top arms importer in Asia-Pacific. In the last 20 years, China's annual defense budget has increased eightfold, and the country has been focusing on the indigenous development of advanced weaponry to reduce its dependence on imported equipment. On this note, Chinese defense company NORINCO has indigenously designed and developed a state-of-the-art one man-portable, fire-and-forget, multipurpose missile called the Red Arrow 12 or HJ-12. The HJ-12 missile system works at par with its Western counterparts and integrates an IR imaging seeker and a TV imaging seeker for providing effective all-weather day and night use capabilities. It has a range of 2,000-4,000 m and is equipped with tandem HEAT warhead to neutralize various targets such as tanks, bunkers, small boats, and helicopters. In response to the differentiation in the requirements of the armed forces of different countries, the region is witnessing increased cooperation between defense contractors. On this note, MBDA inked a Memorandum of Understanding (MoU) with five Australian companies to strategize the transfer of manufacturing technology for its MMP missile program as part of the USD 20 billion LAND 400 program. Moreover, the strategic partnership between MBDA and Safran Electronics and Defense is expected to have a significant impact on the development of Australian military prowess. The partnership will leverage Safran Electronics & Defense Australasia, a Safran Electronics & Defense subsidiary, for delivering and integrating optronic and navigation equipment for its advanced MMP multi-purpose missile system. Such trends indicate a positive outgrowth during the forecast period.

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Competitive Landscape

The man-portable anti-armor weapons market is highly competitive and is marked with the presence of several prominent players competing for a larger market share. The stringent safety and regulatory policies in the defense segment are expected to restrict the entry of new players. Furthermore, since such weapon contracts require high technological expertise and span over a period of several years, careful identification and continuous monitoring of associative risks are required to be undertaken to assess their effects on the operational parameters of the manufacturing company. The assessment includes consideration for technical requirements, a listing of scheduled and associated tasks, and detailed cost analysis. Furthermore, the sales of such technology-based platforms are primarily influenced by the prevalent economic situations in dominant markets such as North America, Europe, and Asia-Pacific. Hence, in periods of economic downturn, purchases may be subjected to deferral or cancellation and a relatively slower rate of adoption, which in turn, can adversely affect the market dynamics. Moreover, the contracts are often subjected to include offset clauses which enhances the risks pertaining to timely completion of the project. Due to the associated risks regarding the technical aspects, scheduling of activities and costs are subjected to change based on macroeconomic factors, and subsequently, influence the associative profits of the associated parties in a contract.

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