Fire Control System Market Size to Surpass USD 8767.80 Million by 2029, growing at a CAGR 4.2% | Exactitude Consultancy

Friday, March 10, 2023 at 8:04am UTC

Luton, Bedfordshire, United Kingdom, March 10, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Fire Control System Market.

The global fire control system market size is projected to reach USD 8767.80 Million by 2029 from USD 6054.60 Million in 2022, at a CAGR of 4.2% from 2023 to 2029. The Fire Control System is responsible for overseeing the armament system, including procedures, materials, and personnel. Its components include the director, radar, and gun data computer, which work together to facilitate the tracking, targeting, and striking of ranged weapons. This advanced system minimizes the need for human involvement by interfacing with a variety of sensors and enhancing accuracy and precision. Its applications are diverse, spanning the military and defense industries.

On the other hand, the Fire Control System mentioned in the second paragraph is a certified product designed to prevent fire outbreaks according to government standards and regulations. It includes flame detectors and smoke control equipment that activate in the event of a fire, such as alarm valves and sprinkler systems. Unlike traditional heat or smoke devices, fire prevention systems can respond quickly and accurately to fires, providing an effective means of prevention.

Industry Developments

  • In June 2022, Kidde HomeSafe integrated smart detection system was launched. This system, provides complete home-detection solution which includes detection of carbon monoxide, smoke, water leaks and frozen pipes.
  • In June 2022, Siemens Korea Smart Infrastructure launched the SRF 2.0 intelligent fire detection system, which has the auto self-diagnosis feature and provides high reliability & stable performance.

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Fire Control System Market Overview

The installation of a fire protection system is an essential requirement for any building or establishment. Its purpose is to detect, control, and protect occupants from potential fire hazards. By quickly extinguishing smoke or fire and alerting building occupants, these systems can significantly reduce the loss of property and life. Various fire protection equipment is available, including fire detectors, response systems, analysis software, suppression systems, and sprinkler systems. These systems are commonly installed in industrial, residential, and commercial buildings to safeguard individuals and mitigate the destruction caused by fire hazards.

Initially, the adoption of fire protection systems in many developing countries was lower compared to developed nations, primarily due to limited awareness among consumers and lower regulatory pressure. However, the efforts of various systems integrators, manufacturers, and dealers have led to widespread awareness among users. The launch of fire safety programs and targeted marketing campaigns highlighting the benefits of fire protection systems have drawn the attention of large, small, and medium enterprises. Consequently, there has been steady market growth in the past few years.

The construction of new properties, both residential and non-residential, is anticipated to create new opportunities for the installation of fire alarm and detection systems. Commercial and industrial areas primarily use fire protection systems to ensure employee safety. Additionally, the market for fire protection systems is driven by the increase in property damage caused by fire accidents. The market is also driven by regulations, standards, and codes imposed by various regulatory bodies. The growing standards have encouraged organizations to install fire protection systems, further boosting the market's growth over the forecast period.

Report AttributeDetails
Fire Control System Market size value in 2022USD 6054.60 Million
Revenue forecast in 2029USD 8767.80 Million
Market Growth rateCAGR of 4.2% from 2023 to 2029
Base year for estimation2022
Historical data2018 - 2021
Forecast period2023 - 2029
Quantitative unitsRevenue in USD Million, volume in units, CAGR from 2023 to 2029
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, trends
Segments coveredBy System; Platform; Weapon Class and By Region
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeU.S.; Canada; Germany; U.K.; China; India; Japan; Brazil; Mexico
Key companies profiledElbit Systems Ltd, General Dynamics Corporation, Rheinmetall AG, BAE Systems, Lockheed Martin, Safran, Leonardo, Raytheon Company, SAAB, Aselsan A.S., Northrop Grumman.
Customization scopeFree report customization with purchase. Addition or alteration to country, regional & segment scope.

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Companies Covered in Fire Control System Market Report:

  • Elbit Systems Ltd
  • General Dynamics Corporation
  • Rheinmetall AG
  • BAE Systems
  • Lockheed Martin
  • Safran
  • Leonardo
  • Raytheon Company
  • SAAB
  • Aselsan A.S.
  • Northrop Grumman.

Browse Full Premium Report | Fire Control System Market Analysis with Strategic Developments

Report Benefits

  • Develop business strategies by understanding the trends shaping and driving the Market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Fire Control System Market in the future.
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company share of Fire Control System Market leaders.
  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
  • Track sales in the global and country-specific Market.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.

Regional Insights

In 2021, North America held the largest market share, accounting for over 35.0% of the global revenue for fire protection systems. The region's dominant position can be attributed to the increasing demand for intelligent houses and smart buildings, which provide optimal safety. Moreover, North America has a strong presence of fire protection system manufacturers such as Raytheon Technologies Corporation, GENTEX CORPORATION, and Honeywell International Inc. These companies are actively involved in raising awareness about fire protection systems through various marketing programs.

Over the forecast period, Asia Pacific is expected to register the highest compound annual growth rate (CAGR). This can be attributed to the region's developing nature, with countries such as India, China, and Japan driving the regional market. Additionally, the growth of the market in this region is expected to be boosted by increasing urbanization and rising awareness among consumers.

Key Market Segments: Fire Control System Market

By System

  • Target Acquisitions & Guidance Systems
  • Ballistic Computers
  • Navigation Systems
  • Power Systems

By Platform

  • Land
  • Airborne
  • Naval

By Weapon Class

  • Automatic Guns
  • Launchers

By Region

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Based on Platform, the market is bifurcated into Land, Airborne, and Naval. During the forecast period, the airborne platform segment of the Fire Control System Market is estimated to grow at the quickest CAGR. Fire Control Systems are critical in combat aircraft for accurately hitting targets in air-to-air missions. Every other fighter aircraft and helicopter in the world is outfitted with Fire Control Systems. Airborne platforms have evolved to accommodate multi-mission warfare machines that can perform a range of missions. These platforms are capable of command and control, air defense, bombing, air domination, close air support, reconnaissance, and other missions.

Frequently Asked Questions About This Report

  • How big is the Fire Control System Market?
  • What is the Fire Control System Market growth?
  • Which segment accounted for the largest Fire Control System Market share?
  • Who are the key players in the Fire Control System Market?
  • What are the factors driving the Fire Control System Market?

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