New York, March 02, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Land based Defense Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030” – https://www.reportlinker.com/p06027720/?utm_source=GNW
06 billion in 2020 to $47.88 billion in 2021 at a compound annual growth rate (CAGR) of 1.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $57.89 billion in 2025 at a CAGR of 5%.
The land based defense equipment market consists of sales of land based defense equipment by entities (organizations, sole traders and partnerships) that produce land based defense equipment including support and auxiliary equipment for land based defense such as radar, satellites, sonars and other auxiliary equipment. The land based defense equipment market is segmented into armored vehicles; missiles; tanks and small arms and light weapons.
Asia Pacific was the largest region in the global land based defense equipment market, accounting for 42% of the market in 2020.Africa was the second largest region accounting for 13% of the global land based defense equipment market.
Western Europe was the smallest region in the global land based defense equipment market.
CornerShot rifles are increasingly being used in the defense industry.CornerShot weapons have steel hinge that allows the gun’s frame to bend around