Pyrotechnic Munitions Market Size, Revenue, End Users And Forecast Till 2028

The Pyrotechnic Munitions Market size is projected to reach US$ 4,653.96 million by 2028 from US$ 3,358.92 million in 2022; it is expected to grow at a CAGR of 5.6% from 2022 to 2028.

The growth of the pyrotechnic munitions market in the US can be attributed to the increasing focus of the armed forces on training programs and the adoption of advanced pyrotechnic munitions products. The US forces recently appointed to train Ukrainian soldiers for radar systems, armored vehicles, and combat training is an example of this. Additionally, PR Tactical Corporation is developing advanced realistic pyrotechnic training simulators, OPFOR equipment, and firing systems for military units and public safety agencies. The company has announced new products, including the upgraded PR-RPG2-HX, which is expected to fuel the market growth.

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The List of Companies -
1. Arsenal
2. PR Tactical Corporation
3. Lacroix
4. Martinez Specialties, Inc.
5. Primetake Ltd.
6. Pyrotechnic Specialties Incorporated
7. Rheinmetall AG
8. WESCOM GROUP
9. Chemring Group PLC
10. HFI Pyrotechnics Inc

Pyrotechnic munitions are extensively used by ground military forces and in the life rafts of naval vessels and aircraft carriers. The use of these products is increasing due to the growing fleet of naval vessels and aircraft carriers, which require a significant amount of pyrotechnic munitions for their operation. The market for pyrotechnic munitions is segmented based on product type, application, and end user. The product types include signaling and illumination, crowd control, and training segments, while the applications include land, naval, and air forces. The end users of pyrotechnic munitions are military and law enforcement agencies. Geographically, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

To maintain their market position, pyrotechnic munition suppliers in Europe are focused on acquiring smaller emerging players. For example, in 2021, Wescom Defense completed the acquisition of PW Defence Ltd., a UK-based military pyrotechnics manufacturer, to expand its product portfolio and international sales network, as well as to benefit from new manufacturing and testing facilities. In addition, the presence of several prominent players in the region, including Rheinmetall, Primetake Ltd., Nexter Group, and Lacroix, is a significant factor driving the growth of the pyrotechnic munitions market in Europe.

The pyrotechnic munitions market in Asia Pacific is witnessing a notable upward trend owing to the increasing procurement of submarines and naval vessels and the growing focus on military training programs. In particular, the demand for pyrotechnic munitions products is rising in aircraft carriers in the region. The need for aircraft carriers is increasing, thereby boosting the demand for pyrotechnic munitions products in Asia Pacific. According to the US Navy, the Chinese Navy plans to operate six aircraft carriers by 2040, with only two currently in operation. Jiangnan is currently constructing an improved and enlarged Type-003, and one or more additional carriers are expected to be built by 2025.

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The primary factor driving the growth of the global pyrotechnic munitions market is the increasing demand for pyrotechnic markers in defense forces. Other factors fueling the market growth include rising border transportation operations, military cargo operations, search and rescue operations, and other ISR operations involving aircraft or helicopter movements to carry out missions. Ground military forces use pyrotechnic markers to produce signals that help helicopter pilots land safely in complex terrains. Furthermore, pyrotechnic munitions are also used in military exercises to provide a realistic experience to military personnel.

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