Report : Europe Pyrotechnic Munitions Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Signaling and Illumination, Crowd Control, and Training), Application (Land Forces, Naval Forces, and Air Forces), and End User (Military and Law Enforcement Agencies)
At 4.2% CAGR, the Europe Pyrotechnic Munitions Market is speculated to be worth US$ 1363.32 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe pyrotechnic munitions market was valued at US$ 1,065.27 million in 2022 and is expected to reach US$ 1,363.32 million by 2028, registering an annual growth rate of 4.2% from 2022 to 2028. Raising demand for pyrotechnic markers across defense forces and collaboration of companies with defense forces for live training simulation.
The military forces use pyrotechnic munitions for a variety of operations. Defense forces, including ground, naval, and air forces across different countries significant volume of pyrotechnic munitions for various applications, including illumination, signaling, simulation of battle noises, and effects. Moreover, military exercises also involve many pyrotechnic munitions to provide a real experience to the military personnel during training. In addition, increasing border patrolling operations, military cargo operations, search operations, and other ISR operations involving aircraft or helicopter movements to carry out the mission. Military forces, especially ground forces, use pyrotechnics markers to signal the helicopters to land in complex terrains, which are nearly invisible to helicopter pilots. Moreover, the naval forces use many pyrotechnic markers for their respective operations, such as helicopter landing, search and rescue operations, or during training programs. Naval forces award multi-year contracts to the pyrotechnic marker/munition suppliers to deliver a substantial volume of pyrotechnic munitions/markers. The main purpose of procuring this product is for search and rescue operations by the naval and air force. Such instances are aiding the growth of pyrotechnic markers across different military forces, further augmenting the growth of the pyrotechnic munitions market.
On the contrary, certification and qualification challenges for market vendors.
Based on type, the Europe pyrotechnic munitions market is segmented into signaling and illumination, crowd control, and training. The signaling and illumination segment held 54.3% market share in 2022, amassing US$ 578.36 million. It is projected to garner US$ 730.36 million by 2028 to expand at 4.0% CAGR during 2022–2028.
Based on application, the Europe pyrotechnic munitions market is segmented into land forces, naval forces, and air forces. The land forces segment held 56.5% market share in 2022, amassing US$ 602.06 million. It is projected to garner US$ 792.95 million by 2028 to expand at 4.7% CAGR during 2022–2028.
Based on end user, the Europe pyrotechnic munitions market is categorized into military and law enforcement agencies. The military segment held 81.9% market share in 2022, amassing US$ 872.37 million. It is projected to garner US$ 1,140.49 million by 2028 to expand at 4.6% CAGR during 2022–2028.
Based on country, the Europe pyrotechnic munitions market has been segmented into France, Germany, Italy, the UK, Russia, and Rest of Europe. Our regional analysis states that Russia captured 30.9% market share in 2022. It was assessed at US$ 328.72 million in 2022 and is likely to hit US$ 394.00 million by 2028, exhibiting a CAGR of 3.1% during the forecast period.
Key players dominating the Europe pyrotechnic munitions market are LACROIX; Primetake Ltd; WESCOM GROUP; Chemring Group PLC; ARSENAL; and Rheinmetall AG among others.
- In February 2021, PW Defence was acquired by Wescom Defence; this acquisition increased the company's defense product portfolio and international sales network. Additionally, the company now has new manufacturing and testing facilities of pyrotechnic munition; the range of the pyrotechnic product portfolio now boasts more than 200 products, and the company produces over 3 million pyrotechnic products per year.
- In September 2018, Chemring Group PLC Received contract from UK Ministry of Defence to supply of countermeasures product worth US$14.25 million.
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