Naval Gun System industry | Types, Applications and Key players

The Advanced Gun System (AGS) is a naval artillery system developed and produced by BAE Systems Armaments Systems for the Zumwalt-class destroyer of the United States Navy. Designated the 155 mm/62 (6.1") Mark 51 Advanced Gun System (AGS),it was designed to provide long range naval gunfire support against shore-based targets. A total of six of the systems have been installed, two on each of the three Zumwalt-class ships. The Navy has no plans for additional Zumwalt-class ships,and no plans to deploy AGS on any other ship. AGS can only use ammunition designed specifically for the system.

According to this latest study, the growth in the Naval Gun System market will change significantly from the previous year. Over the next five years, the Naval Gun System Market size is projected to reach USD 9.31 Billion by 2027 from an estimated USD 7.25 Billion in 2021, growing at a CAGR of 4.25% globally.

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Key Players Covered In Naval Gun System Market Are :

· BAE Systems plc (UK)

· Israel Aerospace Industries (Israel)

· General Dynamics Corporation (US)

· Lockheed Martin Corporation (US)

· Raytheon Company (US)

· Bohemia Interactive Simulations (US)

· Saab AB (Sweden)

· Northrop Grumman Corporation (US)

· Thales Group (France)

· Meggitt PLC (UK)

· Kratos Defense & Security Solutions Inc. (the US)

· Israel Military Industries (Israel)

· L-3 Technologies Inc. (the US)

· PIT-RADWAR S.A. (Poland)

· Boeing (US)

Market has segmented the global Naval Gun System market on the basis of type, application, and region:

By Type:

· Rail Gun

· Laser Gun

By Application:

· Navy

· Air Force

· Land Force

By Regional Outlook (Revenue, USD Billion, 2017 – 2028)

· North America (U.S., Canada, Mexico)

· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

· Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)

· Middle East & Africa (GCC Countries, South Africa, Rest of MEA)

· South America (Brazil, Argentina, Rest of South America)

Covid-19 Impact and Recovery Analysis on Industry:

The COVID-19 pandemic has had devastating effects on several industry verticals globally. To constrain the number of cases and slow the coronavirus spread, various public health guidelines were implemented in different countries across the globe. COVID-19 protocols ranging from declaring national emergency states, enforcing stay-at-home orders, closing nonessential business operations and schools, banning public gatherings, imposing curfews, distributing digital passes, and allowing police to restrict citizen movements within a country, as well as closing international borders. With the growing vaccination rate, governments are uplifting the protocols to give a boost to the stagnant economy. Like other industries, Naval Gun System Market have experienced slowdown the growth, however market is expected bounce back as restrictions are being lifted up by governments across the globe.

The research provides an up-to-date analysis of the current market scenario, as well as the current developments and drivers, and the market landscape. Furthermore, the growing demand for Naval Gun System is expected to propel the industry forward. The Naval Gun System market analysis is segmented into type, application, and geographic landscape.

Report covered the major key points:

· Explore key findings of the overall market

· Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)

· Market forecasts for a minimum of 7years, along with 5 years of historical data for all segments, sub-segments, and regions

· Market Segmentation caters to a thorough assessment of key segments with their market estimations