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(Transportation-News.com, April 23, 2019 ) [177 Pages Report] The ammunition handling system market was valued at USD 2.11 Billion in 2016 and is projected to reach USD 3.50 Billion by 2022, at a CAGR of 8.75% from 2017 to 2022.
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The research methodology used to estimate and forecast the ammunition handling system market began with capturing data on key ammunition handling systems through secondary sources, such as the US Department of Defense (DoD), the US Air Force website, company websites, and corporate filings that include annual reports, investor presentations, and paid databases. Different types of ammunition handling systems were taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall size of the ammunition handling system market by estimating the revenue of key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key experts, such as chief executive officers, vice presidents, directors, and executives of leading companies in the ammunition handling system market. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the ammunition handling system market.
Based on platform, the ammunition handling system market has been segmented into land, naval, and airborne. The land platform segment of the ammunition handling system market is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increased adoption of land warfare vehicles, such as tanks, Armored Personnel Carriers (APCs), Mine Resistant Ambush Protected (MRAP) vehicles, and Infantry Fighting Vehicles (IFVs). In addition, the demand for ammunition handling systems in the defense sector has increased considerably over the past few years, owing to the significant rise in manufacturing of linear linkless ammunition feed systems.
Key players operating in the ammunition handling system market include Meggitt Defense Systems (US), General Dynamics (US), Nobles Worldwide (US), McNally Industries (US), Standard Armament (US), Curtiss-Wright (US), BAE Systems (UK), and Dillon Aero (US). Leading market players are focused on the adoption of contracts as their key growth strategy to strengthen their foothold in the ammunition handling system market.
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