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Ballistic Targeting System Software Market Size, Share Global Analysis Report, 2022 – 2028
Ballistic Targeting System Software Market Size, Share, Growth Analysis Report By Type (Mobile, PCS and Laptops, Embedded Device), By End User (Professional Shooters, Hunters, Military Services), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028
Industry Insights
[225+ Pages Report] According to Facts and Factors, the global ballistic targeting system software market size was worth USD 18.50 million in 2021 and is estimated to grow to USD 23.95 million by 2028, with a compound annual growth rate (CAGR) of approximately 9.80% over the forecast period. The report analyzes the ballistic targeting system software market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the ballistic targeting system software market.
Market Overview
Software called the ballistic aiming system is used to train snipers, hunters, and target shooters. Ballistic targeting system software is used for hunting and target shooting by military organizations, shooters, and hunters alike. The wind direction, muzzle velocity, range finder, wind speed, and weather tracker are some of the essential elements of the ballistic targeting software system for precise shooting. The downrange data is computed by a ballistic calculator that is integrated into the application to help assure an accurate shot. Ballistic aiming software is often used by military personnel, hunters, and professional shooters. The wind direction, muzzle velocity, range finder, wind speed, and weather tracker are some of the essential elements of the ballistic targeting software system for precise shooting.
The global market is primarily driven by the defense industry's rapid expansion. The increase in global geopolitical conflicts and increased defense budgets in many countries serve to strengthen this. Another element propelling the market is the integration of this cutting-edge technology with software solutions, such as an integrated laser that improves precision and aids shooters in accurately aiming at moving targets. Another significant growth-promoting aspect is the considerable research and development (R&D) efforts of several players.
Due to the vast distribution of free software and the accessibility of getting free software, the market for ballistic targeting system software is likely to grow greatly throughout the estimated timeframe. In addition, the fusion of Bluetooth and wireless technologies with ballistic targeting system software will create new growth prospects for the sector within the predicted time frame. However, the market's growth throughout the predicted time frame might be constrained by a fall in the number of hunters.
COVID-19 Impact:
The COVID-19 outbreak has had a significant influence on aerospace, aviation, and other related industries. The global spread of the COVID-19 virus, which prompted lockdown situations, has resulted in an unprecedented number of border closures worldwide. Up to mid-2021, this disruption is anticipated to have an impact on the defense sector. The epidemic has demonstrated that thorough coordination between all border agencies is necessary to achieve efficient security measures.
Additionally, because finances for defense-related projects had already been allotted before the pandemic and because the programs are crucial to the country's defense, demand for products related to defense, such as ballistic protection system systems, will not be impacted. As a crucial part of any nation's advanced defense systems, it follows that the market for ballistic targeting system software is anticipated to experience little change throughout the course of the projected year.
Key Insights
- The ballistic targeting systems are estimated to grow at a CAGR of 9.8% in the coming years.
- Ballistics computation mobile applications can be purchased for as little as $2.
- Many nations intend to upgrade their security systems and invest in intercontinental ballistic targeting system software to obtain an advantage over their neighbors and other hostile countries.
- In 2021, North America dominated the global market
Growth Drivers
- The enormous amount of free ballistics software available to drive industry expansion
Over the projection period, it is probable that the widespread availability of open-source ballistics software to aid shooters and the ease of access to free software would drive growth trends in the ballistic targeting system software market. In addition, the integration of Bluetooth and wireless systems with ballistic targeting system software is anticipated to open up new potential prospects for the sector throughout the course of the projection year.
Furthermore, the employment of the ballistic targeting system software has improved the performance of the firearm. The user can make an informed shot by comparing the trajectory with other factors with the aid of the software. The software also aids the shooter in precisely predicting the location of the moving object.
Restraints
- High manufacturing costs and intense competition
The cost of innovation could drastically rise as the technology used to create the ballistic system software develops. In the upcoming years, the cost of the skilled personnel required to develop such technologies may also rise, which is anticipated to have a detrimental impact on the market's expansion throughout the forecast period. Due to the increase in important dominant players on the market, fierce rivalry may reduce profit margins, prompting mid-scale businesses to change their business models. During the anticipated term, it is predicted to have a negative impact on market growth.
Opportunities
- Increasing Investments in Research and Development Initiatives
The need for these programs would expand with increased investment in the ballistic targeting system software market and the development of advanced technology that aids in efficient and precise operation. During the anticipated time, the intercontinental ballistic market is expected to expand tremendously. Therefore, it would be common to apply advanced business intelligence technology, strategic management, and machine learning.
Challenges
- Regulation imposed by an International regulatory agency
The rigorous requirements implemented by various national and international regulatory organizations are predicted to have a negative impact on the size of the global market for ballistic targeting system software in the near future.
Segmentation Analysis
The industry can be classified into mobile, desktop, and embedded devices based on the type of device. On the basis of end users, the market for ballistic targeting system software is classified into professional shooters, military service, and others.
The industry is divided into three categories based on the type of device: mobile, desktop, and embedded device. The mobile application for the ballistic targeting system is mostly used for ballistic calculations and requires the manual entering of bullet characteristics, including weight, length, and diameter. The application calculates and produces output in the form of milliradian (MRAD) or MOA after the information is entered.
The ballistic targeting system software market is segmented into professional shooters, military service, and others based on end users. Professional shooters require tools with excellent precision and the ability to hit moving targets quickly. Military organizations need the greatest technology available for their soldiers because any operational hiccups could cause serious problems. Military organizations, therefore, search for the best answers that could aid their shooters in planning their approach to various shooting scenarios.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 18.50 Million |
Projected Market Size in 2028 |
USD 23.95 Million |
CAGR Growth Rate |
9.80% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Applied Ballistics, Kennedy Development, LLC, Horus Vision Reticle Technologies, Lex Talus Corporation, Nikon Inc., Patagonia Ballistics, Recreational Software Inc., Sierra Bullets, SITELITE Mag Laser, SWAROVSKI OPTIK, and Others |
Key Segment |
By Types, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Recent Developments
- October 2021- Saab Barracuda AB and Solarmtex S.A.S located in Vierzon, France have signed a cooperation agreement by which Solarmtex will be a partner for Saab Barracuda’s signature management and camouflage products in France.
- March 2020 – BAE Systems was granted a USD 339 million contract which includes post-delivery support and spare parts modification by the U.S. Army for the production of 48 vehicle arrangements of the M109A7 (SPH) and its acquaintance.
Regional Landscape
- The rising focus on defense is likely to help North America dominate the global market
With a market share of more than 65 percent, North America was the market leader in this sector in 2021. A large number of shooters and hunters in the area will increase the adoption of this software and technology. Ballistic targeting system software market growth indicators include the high level of safety consciousness among the people and security forces in North America, as well as the significant military spending by the local government.
Additionally, it is estimated that the Asia Pacific will increase at the fastest rate of nearly 5% during the forecasted period. As a result of the increase in defense spending, local businesses are signing contracts with the contractors, and the governments of these nations are assisting them throughout the procurement process by giving the necessary financial and infrastructure support.
Competitive Landscape
Key players within the global Ballistic Targeting System Software market include
- Applied Ballistics
- Kennedy Development
- LLC
- Horus Vision Reticle Technologies
- Lex Talus Corporation
- Nikon Inc.
- Patagonia Ballistics
- Recreational Software Inc.
- Sierra Bullets
- SITELITE Mag Laser
- SWAROVSKI OPTIK
Global Ballistic Targeting System Software Market is segmented as follows:
By Types
- Mobile
- PCS and Laptops
- Embedded Device
By Application
- Professional Shooters
- Hunters
- Military Services
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- Applied Ballistics
- Kennedy Development
- LLC
- Horus Vision Reticle Technologies
- Lex Talus Corporation
- Nikon Inc.
- Patagonia Ballistics
- Recreational Software Inc.
- Sierra Bullets
- SITELITE Mag Laser
- SWAROVSKI OPTIK
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