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Global Mechanical and Electronic Fuzes Market growing at a CAGR of 4.1% from 2023 to 2030

Category : Semiconductor And Electronics | Published Date : Jun 2023

Key Market Overview

The Mechanical & Electronic Fuzes Market is poised for strong expansion and is projected to reach USD 1,991.47 Million by 2030. The market was sized at USD 1,472.79 Million in 2022 and is predicted to grow at a compound annual growth rate of 4.1% during the period 2023-2030.

The report highlights the increasing adoption of mechanical & electronic fuzes owing to the increasing demand for safety, precision, and reliability. Consegic Business Intelligence provides an inclusive research report on the Mechanical & Electronic Fuzes Market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.

Global Mechanical & Electronic Fuzes Market By Overview

Global Mechanical & Electronic Fuzes Market

The report analyses significant segments such as type, tactical application, end user, and region, to identify emerging trends and potential opportunities. The mortar fuzes segment is expected to grow during the forecast period owing to the increasing demand for mortar in close combat. The fuzes play an important role in effectively and accurately delivering mortar on enemy targets. Additionally, increased demand for modern warfare systems has resulted in the significant growth in the missile and rocket which in turn spurs the demand for fuzes.

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Market Dynamics

Driver:

 

  • Rising geopolitical tension is resulting in regional instability which in turn drives the demand for mechanical and electronic fuzes
  • Growing mining & demolition industry is driving the demand for mechanical and electronic fuzes

 

Restraints:

  • Stringent regulatory requirements

Market Segmentation:

Report Attributes Report Details
By Type Mortars Fuzes, Artillery Fuzes, Rocket & Missile Fuzes, Mines Fuzes, and Others
By Tactical Application Air-to-Air, Air-to-Ground, Ground-to-Air, and Ground-to-Ground
By End User Military & Defense, Mining & Demolition, and Others
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The landscape for Mechanical & Electronic Fuzes Market is highly competitive with major players including Reshef Technologies, L3 Technologies, Kaman Corporation, and JUNGHANS Microtec GmbH that have a strong market position in current market circumstances. Further, the Mechanical & Electronic Fuzes Market is expected to witness significant growth in coming years owing to the increasing demand for safe and reliability of defense equipment. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the Mechanical & Electronic Fuzes Market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.

  • Reshef Technologies
  • L3 Technologies
  • Kaman Corporation
  • Expal
  • JUNGHANS Microtec GmbH
  • Fuchs Electronics
  • DIXI Microtechniques
  • Anhui Great Wall Military Industry
  • Sandeep Metalcraft
  • Action Manufacturing Company, Inc.