The fire control system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Fire Control System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The fire control system market size has grown steadily in recent years. It will grow from $6.88 billion in 2023 to $7.19 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to regulatory compliance, fire safety awareness, industrialization trends, infrastructure development, insurance requirements, urbanization, and growth in commercial construction.
The fire control system market size is expected to see strong growth in the next few years. It will grow to $8.74 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to adoption in emerging economies, enhanced fire prevention measures, expansion of manufacturing facilities, retrofitting in existing buildings, integration with smart building systems, increased focus on property protection, and heightened emphasis on life safety. Major trends in the forecast period include the adoption of intelligent detection systems, expansion of integrated systems, integration of suppression technologies, growth in demand for wireless solutions, development of remote monitoring capabilities, a collaboration between manufacturers and providers, expansion in critical infrastructure, adoption of advanced analytics, increasing emphasis on compliance, and development of systems with enhanced reliability.
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Scope Of Fire Control System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Fire Control System Market Overview
Market Drivers –
The increasing terrorist activities are expected to propel the growth of the fire control system market going forward. Terrorist activities involve the use of violence, intimidation, or coercion to achieve political, religious, or ideological goals, often targeting civilians indiscriminately. The increasing terrorist activities is due to political instability, socio-economic grievances, religious extremism, ideological radicalization, geopolitical tensions, lack of effective governance, and the spread of extremist ideologies through modern communication channels and social media. Fire control systems helps to minimize terrorist activities through early detection, alarm systems, surveillance, automated suppression, access control, emergency planning, and integration with security systems. These systems provide insights into patterns of suspicious behavior or potential threats, enabling authorities to proactively address security concerns. For instance, In February 2024, according to the global terrorism index 2024 by the Institute for Economics and Peace, an Australia-based non-profit organization, the total number of deaths from terrorism reached 8,352 in 2023, reflecting a 22% increase from the previous year. Therefore, the increasing terrorist activities are driving the growth of the fire control system market.
Market Trends –
Major companies operating in the fire control systems market are focused on the adoption of integrated technology solutions such as next-generation squad weapon fire control (NGSW-FC) system to enhance the capabilities and effectiveness of fire alarm and detection systems. The next-generation squad weapon fire control (NGSW-FC) system provides seamless coordination of sensors, alarms, and suppression mechanisms to swiftly detect, mitigate, and manage fire incidents. For instance, in January 2021, L3Harris Technologies, a US-based provider of aerospace and defense technology, launched the next-generation squad weapon fire control (NGSW-FC) system for the US Army. This system provides an integrated approach to augmented aiming by combining range-finding capability, ballistic computation, and environmental sensors to increase accuracy and decrease the time to engage a threat. The NGSW-FC system aims to enable soldiers to better detect, identify, and engage threats at greater distances while enhancing situational awareness on the battlefield.
The fire control system market covered in this report is segmented –
1) By System: Target Acquisition And Guidance System, Interface System, Navigation System, Other Systems
2) By Platform: Terrestrial, Aerial, Naval
3) By Weapon Class: Automatic Guns, Launchers
4) By Range: Short Range (0-9 Km), Medium Range (9-80 Km), Long Range (Above 80 Km)
5) By Applications: Machine Guns, Rockets, Mortars, Cannons, Other Applications
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Regional Insights –
North America was the largest region in the fire control system market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fire control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the fire control system market are Raytheon Technologies Corporation, Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems, Inc., Johnson Controls International plc, Safran SA, Thales S.A., L3Harris Technologies, Inc., Leonardo S.p.A., Rheinmetall AG, Elbit Systems Ltd., Israel Aerospace Industries Ltd. (IAI), Saab AB, Indra Sistemas, S.A., Halma plc, Bharat Electronics Limited, ASELSAN Elektronik Sanayi ve Ticaret A.Ş., Ultra Electronics Holdings plc, Hochiki Corporation, United Technologies Corporation, Yamato Protec Corporation, Seiler Instrument & Manufacturing Company Inc., Wilcox Industries Corp.
Table of Contents
1. Executive Summary
2. Fire Control System Market Characteristics
3. Fire Control System Market Trends And Strategies
4. Fire Control System Market – Macro Economic Scenario
5. Global Fire Control System Market Size and Growth
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32. Global Fire Control System Market Competitive Benchmarking
33. Global Fire Control System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fire Control System Market
35. Fire Control System Market Future Outlook and Potential Analysis
36. Appendix
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