Asia Pacific Pyrotechnic Munitions Market Forecast to 2028

Asia Pacific Pyrotechnic Munitions Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Signaling and Illumination, Crowd Control, and Training), Application (Land Forces, Naval Forces, and Air Forces), and End User (Military and Law Enforcement Agencies)

Report Code : BMIRE00025882 | Region : Asia Pacific | Industry : Aerospace and Defense | Published Date : 14/Sep/2022

The pyrotechnic munitions market in Asia Pacific is expected to grow from US$ 808.27 million in 2022 to US$ 1,283.39 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2022 to 2028.

The rising fleet of naval and aircraft carrier vessels operates continuously across the borders of Asia Pacific countries. Every aircraft carrier ship includes either 254 units of MK7 life rafts or 127 units of MK8 life rafts, while each lifeboat comprises six hand flares, four units of rocket parachute flares, and two units of buoyant smoke signals. Hence, the rising adoption of lifeboats in naval ships or vessels is likely to boost the adoption of pyrotechnic munitions across the naval forces. It is also driven by the rising military expenditure across the region. Both countries are increasingly strengthening their respective naval fleet to secure their borders from naval threats. However, China currently has only two aircraft carriers that use life rafts in large quantities. Further, China is investing in procuring new naval vessels that will procure more pyrotechnic munitions through the deployment of life rafts in those vessels. For instance, in 2022, the Indian Navy awarded a contract worth US$ 114 million to L&T Limited for the manufacturing and development of multi-purpose vessels under the ‘Buy Indian’ category. Due to the increased focus on the naval fleet, the adoption of frigates, corvettes, and aircraft carriers is growing, boosting the requirement for various types of pyrotechnic products for naval applications. Such instances are likely to boost the demand for pyrotechnic munitions during the forecast period and are expected to generate huge opportunities for market vendors during the forecast period.

With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific pyrotechnic munitions market at a substantial CAGR during the forecast period.

Asia Pacific Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Pyrotechnic Munitions Market Segmentation

The Asia Pacific pyrotechnic munitions market is segmented into type, application, end user, and country. Based on type, the market is segmented into signaling and illumination, crowd control, and training. In 2022, the signaling and illumination segment held the largest share of the market. Further, the training segment is expected to register the highest CAGR during the forecast period. Based on application, the Asia Pacific pyrotechnic munitions market is segmented into land forces, naval forces, and air forces. The land forces segment held the largest market share in 2022, and it is also expected to register the highest CAGR in the market during the forecast period. Based on end user, the market is bifurcated into military and law enforcement agencies. In 2022, the military segment held a larger market share, and it is also expected to register a higher CAGR during the forecast period. Based on country, the Asia Pacific pyrotechnic munitions market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. In 2022, China held the largest market share. However, India is expected to register the highest CAGR during the forecast period.

LACROIX, WESCOM GROUP, Chemring Group PLC, ARSENAL, and Rheinmetall AG are among the leading companies operating in the Asia Pacific pyrotechnic munitions market.

At 8.0% CAGR, the Asia Pacific Pyrotechnic Munitions Market is speculated to be worth US$ 1,283.39 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the Asia Pacific pyrotechnic munitions market was valued at US$ 808.27 million in 2022 and is expected to reach US$ 1,283.39 million by 2028, registering an annual growth rate of 8.0% from 2022 to 2028. Arrival of electric pyrotechnics and heighten fleet of naval vessels and aircraft carriers.

Several companies in the pyrotechnic munition market are focusing on product innovation, such as developing electric pyrotechnic munitions. Companies working on developing electric pyrotechnic munitions claim the product to be safer and easier to use than conventional pyrotechnics. Also, electric pyrotechnic munitions can be used multiple times. Moreover, many defense forces are providing contracts to several companies to develop pyroelectric munitions. Unlike conventional pyrotechnics, such pyroelectric propellants are insensitive to accidental ignition by flame, spark, or impact. Such products are likely to burgeon the demand for electric pyrotechnic munitions across the military and law enforcement applications and propel the pyrotechnic munition market over the next few years.

On the contrary, certification and qualification challenges for market vendors.

Based on type, the Asia Pacific pyrotechnic munitions market is segmented into signaling and illumination, crowd control, and training. The signaling and illumination segment held 54.4% market share in 2022, amassing US$ 439.69 million. It is projected to garner US$ 687.49 million by 2028 to expand at 7.7% CAGR during 2022–2028.

Based on application, the Asia Pacific pyrotechnic munitions market is segmented into land forces, naval forces, and air forces. The land forces segment held 59.0% market share in 2022, amassing US$ 476.77 million. It is projected to garner US$ 785.51 million by 2028 to expand at 8.7% CAGR during 2022–2028.

Based on end user, the Asia Pacific pyrotechnic munitions market is categorized into military and law enforcement agencies. The military segment held 83.6% market share in 2022, amassing US$ 675.51 million. It is projected to garner US$ 1,090.20 million by 2028 to expand at 8.3% CAGR during 2022–2028.

Based on country, the Asia Pacific pyrotechnic munitions market has been segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. Our regional analysis states that China captured 46.1% market share in 2022. It was assessed at US$ 372.26 million in 2022 and is likely to hit US$ 622.44 million by 2028, exhibiting a CAGR of 8.9% during the forecast period.

Key players dominating the Asia Pacific pyrotechnic munitions market are LACROIX; WESCOM GROUP; Chemring Group PLC; ARSENAL; and Rheinmetall AG among others.

In February 2021, PW Defence was acquired by Wescom Defence; this acquisition increased the company's defense product portfolio and international sales network. Additionally, the company now has new manufacturing and testing facilities of pyrotechnic munition; the range of the pyrotechnic product portfolio now boasts more than 200 products, and the company produces over 3 million pyrotechnic products per year. In September 2018, Chemring Group PLC Received contract from UK Ministry of Defence to supply of countermeasures product worth US$14.25 million.

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Asia Pacific Pyrotechnic Munitions Market Landscape

4.1 Market Overview

4.2 Porter’s Five Force Analysis

4.2.1 Bargaining Power of Buyers

4.2.2 Bargaining Power of Suppliers

4.2.3 Threat of New Entrants

4.2.4 Threat to Substitutes

4.2.5 Competitive Rivalry

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. Asia Pacific Pyrotechnic Munitions Market – Key Industry Dynamics

5.1 Market Drivers

5.1.1 Fostering Demand for Pyrotechnic Markers Across Defense Forces

5.1.2 Collaboration of Companies with Defense Forces for Live Training Simulation

5.2 Market Restraints

5.2.1 Certification Challenges and Counterfeit Product

5.3 Market Opportunities

5.3.1 Heighten Fleet of Naval Vessels and Aircraft Carriers

5.4 Future Trends

5.4.1 Arrival of Electric Pyrotechnics

5.5 Impact Analysis of Drivers and Restraints

6. Asia Pacific Pyrotechnic Munitions Market Analysis

6.1 Asia Pacific Pyrotechnic Munitions Market Overview

6.2 Asia Pacific Pyrotechnic Munitions Market Forecast and Analysis

7. Asia Pacific Pyrotechnic Munitions Market Analysis – by Product Type

7.1 Overview

7.2 Asia Pacific Pyrotechnic Munitions Market, By Product Type

7.3 Signalling and Illumination

7.3.1 Overview

7.3.2 Signalling and Illumination: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

7.4 Crowd Control

7.4.1 Overview

7.4.2 Crowd Control: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

7.5 Training

7.5.1 Overview

7.5.2 Training: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

8. Asia Pacific Pyrotechnic Munitions Market Analysis – by Application

8.1 Overview

8.2 Asia Pacific Pyrotechnic Munitions Market, By Application

8.3 Land Forces

8.3.1 Overview

8.3.2 Land Forces: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

8.4 Naval Forces

8.4.1 Overview

8.4.2 Naval Forces: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

8.5 Air Forces

8.5.1 Overview

8.5.2 Air Forces: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

9. Asia Pacific Pyrotechnic Munitions Market Analysis – by End User

9.1 Overview

9.2 Asia Pacific Pyrotechnic Munitions Market, By End Use

9.3 Military

9.3.1 Overview

9.3.2 Military: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

9.4 Law Enforcement Agencies

9.4.1 Overview

9.4.2 Law Enforcement Agencies: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

10. Asia Pacific Pyrotechnic Munitions Market – Country Analysis

10.1 Overview

10.1.1 Asia Pacific Pyrotechnic Munitions Market, by Key Country

10.1.1.1 Australia: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1 Australia: Pyrotechnic Munitions Market, By Product Type

10.1.1.1.2 Australia: Pyrotechnic Munitions Market, By Application

10.1.1.1.3 Australia: Pyrotechnic Munitions Market, By End Use

10.1.1.2 China: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1 China: Pyrotechnic Munitions Market, By Product Type

10.1.1.2.2 China: Pyrotechnic Munitions Market, By Application

10.1.1.2.3 China: Pyrotechnic Munitions Market, By End Use

10.1.1.3 India: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.3.1 India: Pyrotechnic Munitions Market, By Product Type

10.1.1.3.2 India: Pyrotechnic Munitions Market, By Application

10.1.1.3.3 India: Pyrotechnic Munitions Market, By End Use

10.1.1.4 Japan: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.4.1 Japan: Pyrotechnic Munitions Market, By Product Type

10.1.1.4.2 Japan: Pyrotechnic Munitions Market, By Application

10.1.1.4.3 Japan: Pyrotechnic Munitions Market, By End Use

10.1.1.5 South Korea: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.5.1 South Korea: Pyrotechnic Munitions Market, By Product Type

10.1.1.5.2 South Korea: Pyrotechnic Munitions Market, By Application

10.1.1.5.3 South Korea: Pyrotechnic Munitions Market, By End Use

10.1.1.6 Rest of APAC: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.6.1 Rest of APAC: Pyrotechnic Munitions Market, By Product Type

10.1.1.6.2 Rest of APAC: Pyrotechnic Munitions Market, By Application

10.1.1.6.3 Rest of APAC: Pyrotechnic Munitions Market, By End Use

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 Merger and Acquisition

12. Company Profiles

12.1 ARSENAL

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 LACROIX

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Rheinmetall AG

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 WESCOM GROUP

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Chemring Group PLC

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES.

Table 1.             Asia Pacific Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

Table 2.             Asia Pacific Pyrotechnic Munitions Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 3.             Australia: Pyrotechnic Munitions Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 4.             Australia: Pyrotechnic Munitions Market, By Application – Revenue and Forecast to 2028 (US$ Million)

Table 5.             Australia: Pyrotechnic Munitions Market, By End Use – Revenue and Forecast to 2028 (US$ Million)

Table 6.             China: Pyrotechnic Munitions Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 7.             China: Pyrotechnic Munitions Market, By Application – Revenue and Forecast to 2028 (US$ Million)

Table 8.             China: Pyrotechnic Munitions Market, By End Use – Revenue and Forecast to 2028 (US$ Million)

Table 9.             India: Pyrotechnic Munitions Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 10.          India: Pyrotechnic Munitions Market, By Application – Revenue and Forecast to 2028 (US$ Million)

Table 11.          India: Pyrotechnic Munitions Market, By End Use – Revenue and Forecast to 2028 (US$ Million)

Table 12.          Japan: Pyrotechnic Munitions Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 13.          Japan: Pyrotechnic Munitions Market, By Application – Revenue and Forecast to 2028 (US$ Million)

Table 14.          Japan: Pyrotechnic Munitions Market, By End Use – Revenue and Forecast to 2028 (US$ Million)

Table 15.          South Korea: Pyrotechnic Munitions Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 16.          South Korea: Pyrotechnic Munitions Market, By Application – Revenue and Forecast to 2028 (US$ Million)

Table 17.          South Korea: Pyrotechnic Munitions Market, By End Use – Revenue and Forecast to 2028 (US$ Million)

Table 18.          Rest of APAC: Pyrotechnic Munitions Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 19.          Rest of APAC: Pyrotechnic Munitions Market, By Application – Revenue and Forecast to 2028 (US$ Million)

Table 20.          Rest of APAC: Pyrotechnic Munitions Market, By End Use – Revenue and Forecast to 2028 (US$ Million)

Table 21.          List of Abbreviation

LIST OF FIGURES.

Figure 1.           Asia Pacific Pyrotechnic Munitions Market Segmentation

Figure 2.           Asia Pacific Pyrotechnic Munitions Market Segmentation – By Country

Figure 3.           Asia Pacific Pyrotechnic Munitions Market Overview

Figure 4.           Signaling and Illumination Segment held the Largest Share of Pyrotechnic Munitions Market

Figure 5.           China held the Largest Share of Asia Pacific Pyrotechnic Munitions Market

Figure 6.           Asia Pacific Pyrotechnic Munitions Market– Porter’s Five Forces Analysis

Figure 7.           Asia Pacific Pyrotechnic Munitions Market– Ecosystem Analysis

Figure 8.           Expert Opinion

Figure 9.           Asia Pacific Pyrotechnic Munition Market: Impact Analysis of Drivers and Restraints

Figure 10.        Asia Pacific Pyrotechnic Munitions Market Forecast and Analysis (US$ Million)

Figure 11.        Asia Pacific Pyrotechnic Munitions Market Revenue Share, By Product Type (2021 & 2028)

Figure 12.        Signaling and Illumination: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

Figure 13.        Crowd Control: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

Figure 14.        Training: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

Figure 15.        Asia Pacific Pyrotechnic Munitions Market Revenue Share, By Application (2021 & 2028)

Figure 16.        Land Forces: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

Figure 17.        Naval Forces: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

Figure 18.        Air Forces: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

Figure 19.        Asia Pacific Pyrotechnic Munitions Market Revenue Share, By End Use (2021 & 2028)

Figure 20.        Military: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

Figure 21.        Law Enforcement Agencies: Pyrotechnic Munitions Market Revenue and Forecast to 2028 (US$ Million)

Figure 22.        Asia Pacific Pyrotechnic Munitions Market Revenue Share, by Key Country (2021 & 2028)

Figure 23.        Australia: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24.        China: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25.        India: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26.        Japan: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27.        South Korea: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28.        Rest of APAC: Pyrotechnic Munitions Market – Revenue and Forecast to 2028 (US$ Million)

The List of Companies - Asia Pacific Pyrotechnic Munitions Market

● LACROIX                                                     

● Primetake Ltd                                            

● WESCOM GROUP                                      

● Chemring Group PLC            

● ARSENAL

● Rheinmetall AG

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific pyrotechnic munitions market.

● Highlights key business priorities in order to assist companies to realign their business strategies

● The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific pyrotechnic munitions market, thereby allowing players across the value chain to develop effective long-term strategies

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

● Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the pyrotechnic munitions market, as well as those hindering it

● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

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