The "Pyrotechnic Munitions Market Forecast to 2028" is a specialized and in-depth study of the industry with a special focus on the global market trend analysis

NEW YORK, UNITED STATES, UNITED STATES, January 27, 2023 /EINPresswire.com/ -- Latest research report study on “Pyrotechnic Munitions Market Growth and Forecast 2028″ published by The Insight Partners, the market size is expected to reach US$ 4,653.96 million by 2028, registering a CAGR of 5.6% from 2022 to 2028.

The pyrotechnic munitions are type of non-lethal munitions products used by military forces and law enforcement agencies for critical missions, and rescue operations as well as for training purposes. It includes products such as signaling smokes, flares and infrared markers, illumination for solar flare, smoke grenades, air launched illuminations and other products. The demand for pyrotechnic munitions products are increasing owing to rising the regional conflicts among the countries. The rise in regional conflicts emerges the need for training and drill exercise for the armed forces. The growing demand for pyrotechnic markers across defense forces is fueling the market growth. Thus, such trending prospects across the globe is anticipated to fuel the pyrotechnic munitions market growth. In addition, collaboration of companies with defense forces for live simulation training in order to supply adequate volume of pyrotechnic munitions products is another major factor bolstering the pyrotechnic munitions market growth.

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Arsenal, PR Tactical Corporation , Lacroix, Martinez Specialties Inc., Primetake Ltd., Pyrotechnic Specialties Incorporated, Rheinmetall AG, WESCOM GROUP, Chemring Group PLC and HFI Pyrotechnics Inc – Prominent Market Participants in Pyrotechnic Munitions Market

Pyrotechnic Munitions Market Segments covered:
The pyrotechnic munitions market analysis has been carried out on the basis of product type, application, and end user. Based on product type, the pyrotechnic munitions market is segmented into signalling and illumination, crowd control, and training. On the basis of application, the pyrotechnic munitions market analysis is segmented into land forces, naval forces, and air forces. Based on end user, the market is segmented into military and law enforcement agencies. In terms of geography, the pyrotechnic munitions market share was dominated by North America in 2021. The market in this region is segmented into the US, Canada, and Mexico.

The US has the largest aerospace industry in the world. The country holds the largest market share of the pyrotechnic munitions market in North America. The pyrotechnic munitions market growth in the US is primarily driven by the increasing initiatives of the armed forces for conducting training programs and a rise in the adoption of advanced pyrotechnic munitions products. For instance, in April 2022, US forces were appointed to train Ukrainian soldiers for using radar systems and armored vehicles, and providing battlefield combat training. In addition, the PR Tactical Corporation, US, is engaged in creating advanced realistic pyrotechnic training simulators, OPFOR equipment, and firing systems for military units and public safety agencies. In February 2019, the company announced three new additions to OPFOR Munitions & Equipment product line of military and law enforcement training devices for 2019/2020. It also introduced PR-RPG2-HX, an upgraded version of PR-RPG-1C launcher simulator, with enhanced capabilities to use PR-PYRO-RPG in 2019. Thus, ongoing developments in pyrotechnic munitions technology and growing initiatives for conducting training programs are the prominent factors bolstering the US pyrotechnic munitions market growth.

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In Europe, government initiatives for the replacement of traditional defense technologies are gaining pace. For instance, in July 2021, Saab received a contract to modernize the German Navy’s F123 frigates that will also involve replacements and installations of life rafts in the ship. Such developments are likely to boost the pyrotechnic munitions market size in Europe in the coming years.

Key Findings of Study:
The US has a presence of companies such as PR Tactical Corporation, Martinez Specialties, Inc., and Pyrotechnic Specialties Incorporated, which provide pyrotechnic munitions products in the country. These companies generate revenue for the pyrotechnic munitions market in the US. The UK is one of the leading countries in the Europe pyrotechnic munitions market due to the matured aircraft manufacturing industry across the region. The UK has a well-established pyrotechnic manufacturing sector. The presence of major manufacturers—such as Chemring Group Plc, Wescom Group, Centanex Ltd, Comet Marine (a Subsidiary of Wescom), Enola Gaye, and Denis Ferranti Group—is one of the major factors favoring the growth of the pyrotechnic munitions market in the UK. Furthermore, the UK has strong and well-equipped military forces that require pyrotechnics for their operational practices. Law enforcement agencies across the UK also focus on acquiring large volumes of pyrotechnics to train their new recruits. For instance, in October 2021, the UK Armed Forces participated in exercise Konkan Shakti with their counterparts from the Indian Armed Forces. The surging deployment of armed troops across different international borders of the UK is also propelling the procurement of pyrotechnics in the country. The pyrotechnic munitions market report provides detailed market insights, which helps the key players strategize their growth approach.

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