NEW YORK, Feb. 18, 2019 /PRNewswire/ —

About this market
The evolution of battlefield environment necessitated the subsequent upgrade and customization of armament. Currently, the US Marine Corps are engaged in testing the new version of the M72 shoulder-fired single usage rocket launcher. Depending on the type of rocket inside the prepackaged launcher, and at its heaviest configuration, it is three pounds lighter than a shoulder-fired M3E1 Carl Gustav recoilless rifle. This permits the troops to carry multiple launchers, and the US Army and US Marine Corps intend to adopt the weapon primarily as a lightweight anti-tank weapon. The market has observed wide developments which has expected to drive the market during the forecast period. Technavio’s analysts have predicted that the shoulder-fired weapons market will register a CAGR of almost 6% by 2023.

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Market Overview
Counter- terrorism encouraging new procurement
The growth of terrorism and other insurgent activities on a global level has encouraged the defense agencies of several nations to intensify their countermeasure capabilities against a variety of threats. As an outcome of increased defense spending during the last decade, the inventory of weapons of countries have increased substantially.
Evolving global crisis affecting market prospects
Development cost has been a major challenging factor for weapon manufacturers. The development of a fresh design for a shoulder-fired weapon may incur billions of dollars. Hence, the high R&D costs have resulted in favoring the adaptation of existing defense technologies in a budget-constrained, suboptimal manner, usually by sacrificing both performance and reliability.
For the detailed list of factors that will drive and challenge the growth of the shoulder-fired weapons market during the 2019-2023, view our report.

Competitive Landscape
The market appears to be highly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.

Read the full report: https://www.reportlinker.com/p05741951

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