Fire Control System market is estimated to be valued at USD 8,872.1 Million in 2021 and is poised to grow at a significant CAGR of 4.3% over 2022-2028. Fire-control systems comprise numerous components, including a gun data computer, radar, and a director, that work together and are designed to assist a weapon system in hitting its target. Based on the platform, the global fire control market is segmented into Land, Airborne, and Naval. The Airborne segment is anticipated to grow at a significant CAGR over the forecast years. Fire control systems in combat aircraft are critical for accurately hitting targets in air-to-air missions. Fire control systems are installed on all other firefighter aircraft, including the helicopter. Multi-mission warfare machines that can undertake various assignments can now be accommodated on airborne platforms. These platforms may carry out operations like command and control, air defense, bombing, air dominance, close air support, reconnaissance, and others. The global fire control system market is expected to proliferate throughout the forecast period. Because of developments in the automatic weapon system and increased need for precision weapon systems, the Fire Control System Market is quickly expanding. Furthermore, increased military budget and remotely operated weapon stations drive market expansion. Furthermore, the global development of the military sector imposed a favorable impact on market growth.
Recent Market Developments:
In January 2019, Raytheon Company received a USD 72.5 million contract from the US Navy to supply MK 99 fire control systems for Aegis weapon systems.