The weapon mounts market in Europe was valued US$ 363.9million in 2019 and is projected to reach US$ 74.4million by 2027; it is expected to grow at a CAGR of 8.01% from 2020 to 2027.
The military forces across the European region are increasingly focusing on the adoption of weapon mounts for armored vehicles, combat aircraft, helicopters, naval vessels, and dismounted soldiers. The weapon mounts offer added advantage on the battlefield when mounted on armored vehicles, helicopter, aircraft, and naval vessels owing to which the demand is surging. However, various limitations of different types of weapon mounts for dismounted soldiers are refraining the military forces from procuring the same in huge quantities. This factor is adversely affecting the weapon mounts market.
The dismounted soldiers across the globe carry either monopod weapon mounts, or bipod weapon mounts, or tripod weapon mounts. The stability concerns related to monopod and bipods are increasing strain on military forces owing to the fact, the monopod weapon mounts have one leg and lags in offering stability along the coordinate axis of motion. This results in a misfire, which could sometimes be fatal.
The bipod, on the other hand, offers relatively better stability than monopod; however, several bipods are unable to handle weapon recoil, thereby affecting the accuracy. The dismounted soldiers, especially the frontline assaulters and snippers, seek higher accuracy; however, this disadvantage of bipods is hindering the weapon mounts market. The tripods, on the other hand, offer superior stability owing to 3 legs resting on a larger surface area, thereby providing higher precision firing ability.
The weapon mounts market is a highly fragmented and competitive marketplace. The leading companies in this market continue to broaden their clientele by expanding their current offerings.Prominent players face an increasing level of competition, both from start-ups to leading established companies across the world. Several companies in the value chain are acquiring other players in the weapon mountsmarket to provide efficient services to its customers, and thus, to maintain or uplift their position in the market. The military forces across Europe are emphasizing on reducing the weights on dismounted soldiers; however, the weight of the tripod weapon mounts is a critical concern for the military forces. This is affecting the procurement rate of tripod weapon mounts, thus, hindering the growth of weapon mounts market.
The Europe weapon mounts market is expected to grow at a good CAGR during the forecast period. The growing digitization and a large number of players focusing on developing efficient solutions are the major factors supporting the growth of the weapon mountsmarket in this region.
Russia Weapon Mounts Market Revenue and Forecasts to 2027 (US$ Mn)
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Europe Weapon Mounts Market–Segmentation
Weapon Mounts Market – By Mount Type
- Static Mount
- Non-Static Mount
Weapon Mounts Market – By Platform
- Ground
- Vehicle-Mounted
- Fixed Installation
- Dismounted Soldiers
- Naval
- Aircraft Carriers
- Destroyers
- Frigates
- Corvettes
- Offshore Patrol Vessels
- Airborne
- Combat Aircraft
- Attack Helicopters
- Special Mission Aircraft
Weapon Mounts Market – By Mode of Operation
- Manned
- Remotely Operated
Weapon Mounts Market- By Region
Europe
- Germany
- France
- Italy
- United Kingdom
- Russia
- Rest of Europe
Europe Weapon Mounts Market-Companies Mentioned
- AEI Systems Ltd.
- CRSystemsInc
- Engine Engineering Company
- FN HERSTAL
- Troy Products
- Leonardo
- ISTEC SERVICES LTD
- Military Systems Group, Inc.
- TMIL-systems
- WE Platt
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Mount Type, Platform, Mode of Operation and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Weapon Mounts Market – By Mount Type
1.3.2 Weapon Mounts Market – By Platform
1.3.3 Weapon Mounts Market – By Mode of Operation
1.3.4 Weapon Mounts Market- By Region
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Weapon Mounts Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
5. Europe Weapon Mounts Market – Key Market Dynamics
5.1 Key Market Driver
5.1.1 Stimulating Demand for Remote Weapon Stations
5.1.2 Increasing Military Expenditure
5.2 Key Market Restraint
5.2.1 Stability Issues and Heavy Weight of Solider Portable Mounts
5.3 Key Market Opportunity
5.3.1 Accentuating Adoption of Armoured Vehicles
5.4 Future Trends
5.4.1 Continuous Focus on Development of Robust Mounting Solutions
5.5 Impact Analysis of Drivers and Restraints
6. Europe Weapon Mounts – Europe Market Analysis
6.1 Overview
6.2 Europe Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
7. Europe Weapon Mounts Market Analysis – By Mount Type
7.1 Overview
7.2 Weapon Mounts Market, By Mount Type (2019 and 2027)
7.3 Static Mount
7.3.1 Overview
7.3.2 Static Mount: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
7.4 Non-Static Mount
7.4.1 Overview
7.4.2 Non-Static Mount: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8. Europe Weapon Mounts Market Analysis – By Platform
8.1 Overview
8.2 Weapon Mounts Market, By Platform (2019 and 2027)
8.3 Ground
8.3.1 Overview
8.3.2 Ground: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.3.3 Vehicle-Mounted
8.3.3.1 Overview
8.3.3.2 Vehicle-Mounted: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.3.4 Fixed Installation
8.3.4.1 Overview
8.3.4.2 Fixed Installation: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.3.5 Dismounted Soldiers
8.3.5.1 Overview
8.3.5.2 Dismounted Soldiers: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.4 Naval
8.4.1 Overview
8.4.2 Naval: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.4.3 Aircraft Carriers
8.4.3.1 Overview
8.4.3.2 Aircraft Carriers: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.4.4 Destroyers
8.4.4.1 Overview
8.4.4.2 Destroyers: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.4.5 Frigates
8.4.5.1 Overview
8.4.5.2 Frigates: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.4.6 Corvettes
8.4.6.1 Overview
8.4.6.2 Corvettes: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.4.7 Offshore Patrol Vessels
8.4.7.1 Overview
8.4.7.2 Offshore Patrol Vessels: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.5 Airborne
8.5.1 Overview
8.5.2 Airborne: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.5.3 Combat Aircraft
8.5.3.1 Overview
8.5.3.2 Combat Aircraft: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.5.4 Attack Helicopters
8.5.4.1 Overview
8.5.4.2 Attack Helicopters: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
8.5.5 Special Mission Aircraft
8.5.5.1 Overview
8.5.5.2 Special Mission Aircraft: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ Million)
9. Europe Weapon Mounts Market Analysis – By Mode of Operation
9.1 Overview
9.2 Weapon Mounts Market, By Mode of Operation (2019 and 2027)
9.3 Manned
9.3.1 Overview
9.3.2 Manned: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Remotely Operated
9.4.1 Overview
9.4.2 Remotely Operated: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
10. Weapon Mount Market – Regional Analysis
10.1 Overview
10.1.1.1 UK: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.1.1 UK: Weapon Mount Market, by Mount Type
10.1.1.1.2 UK: Weapon Mount Market, by Mode of Operation
10.1.1.1.3 UK: Weapon Mount Market, by Platform
10.1.1.1.3.1 UK: Weapon Mount Market, by Ground
10.1.1.1.3.2 UK: Weapon Mount Market, by Naval
10.1.1.1.3.3 UK: Weapon Mount Market, by Airborne
10.1.1.2 Germany: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.2.1 Germany: Weapon Mount Market, by Mount Type
10.1.1.2.2 Germany: Weapon Mount Market, by Mode of Operation
10.1.1.2.3 Germany: Weapon Mount Market, by Platform
10.1.1.2.3.1 Germany: Weapon Mount Market, by Ground
10.1.1.2.3.2 Germany: Weapon Mount Market, by Naval
10.1.1.2.3.3 Germany: Weapon Mount Market, by Airborne
10.1.1.3 France: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.3.1 France: Weapon Mount Market, by Mount Type
10.1.1.3.2 France: Weapon Mount Market, by Mode of Operation
10.1.1.3.3 France: Weapon Mount Market, by Platform
10.1.1.3.3.1 France: Weapon Mount Market, by Ground
10.1.1.3.3.2 France: Weapon Mount Market, by Naval
10.1.1.3.3.3 France: Weapon Mount Market, by Airborne
10.1.1.4 Italy: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.4.1 Italy: Weapon Mount Market, by Mount Type
10.1.1.4.2 Italy: Weapon Mount Market, by Mode of Operation
10.1.1.4.3 Italy: Weapon Mount Market, by Platform
10.1.1.4.3.1 Italy: Weapon Mount Market, by Ground
10.1.1.4.3.2 Italy: Weapon Mount Market, by Naval
10.1.1.4.3.3 Italy: Weapon Mount Market, by Airborne
10.1.1.5 Russia: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.5.1 Russia: Weapon Mount Market, by Mount Type
10.1.1.5.2 Russia: Weapon Mount Market, by Mode of Operation
10.1.1.5.3 Russia: Weapon Mount Market, by Platform
10.1.1.5.3.1 Russia: Weapon Mount Market, by Ground
10.1.1.5.3.2 Russia: Weapon Mount Market, by Naval
10.1.1.5.3.3 Russia: Weapon Mount Market, by Airborne
10.1.1.6 Rest of Europe: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of Europe: Weapon Mount Market, by Mount Type
10.1.1.6.2 Rest of Europe: Weapon Mount Market, by Mode of Operation
10.1.1.6.3 Rest of Europe: Weapon Mount Market, by Platform
10.1.1.6.3.1 Rest of Europe: Weapon Mount Market, by Ground
10.1.1.6.3.2 . Rest of Europe: Weapon Mount Market, by Naval
10.1.1.6.3.3 Rest of Europe: Weapon Mount Market, by Airborne
11. Impact of Coronavirus Outbreak
11.1 Impact of COVID-19 Pandemic on Global Weapon Mounts Market
11.1.1 Europe: Impact Assessment of COVID-19 Pandemic
12. Company Profiles
12.1 AEI Systems Ltd
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 CRSystems Inc.
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 Engine Engineering Company
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 FN HERSTAL
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 Troy Products
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
12.6 Leonardo
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 ISTEC SERVICES LTD
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Military Systems Group, Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 TMIL-systems
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 WE Platt
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Europe Weapon Mounts Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. UK: Weapon Mount Market, by Mount Type –Revenue and Forecast to 2027 (US$ Million)
Table 3. UK: Weapon Mount Market, by Mode of Operation –Revenue and Forecast to 2027 (US$ Million)
Table 4. UK: Weapon Mount Market, by Platform –Revenue and Forecast to 2027 (US$ Million)
Table 5. UK: Weapon Mount Market, by Ground –Revenue and Forecast to 2027 (US$ Million)
Table 6. UK: Weapon Mount Market, by Naval –Revenue and Forecast to 2027 (US$ Million)
Table 7. UK: Weapon Mount Market, by Airborne –Revenue and Forecast to 2027 (US$ Million)
Table 8. Germany: Weapon Mount Market, by Mount Type –Revenue and Forecast to 2027 (US$ Million)
Table 9. Germany: Weapon Mount Market, by Mode of Operation –Revenue and Forecast to 2027 (US$ Million)
Table 10. Germany: Weapon Mount Market, by Platform –Revenue and Forecast to 2027 (US$ Million)
Table 11. Germany: Weapon Mount Market, by Ground –Revenue and Forecast to 2027 (US$ Million)
Table 12. Germany: Weapon Mount Market, by Naval –Revenue and Forecast to 2027 (US$ Million)
Table 13. Germany: Weapon Mount Market, by Airborne –Revenue and Forecast to 2027 (US$ Million)
Table 14. France: Weapon Mount Market, by Mount Type –Revenue and Forecast to 2027 (US$ Million)
Table 15. France: Weapon Mount Market, by Mode of Operation –Revenue and Forecast to 2027 (US$ Million)
Table 16. France: Weapon Mount Market, by Platform –Revenue and Forecast to 2027 (US$ Million)
Table 17. France: Weapon Mount Market, by Ground –Revenue and Forecast to 2027 (US$ Million)
Table 18. France: Weapon Mount Market, by Naval –Revenue and Forecast to 2027 (US$ Million)
Table 19. France: Weapon Mount Market, by Airborne –Revenue and Forecast to 2027 (US$ Million)
Table 20. Italy: Weapon Mount Market, by Mount Type –Revenue and Forecast to 2027 (US$ Million)
Table 21. Italy: Weapon Mount Market, by Mode of Operation –Revenue and Forecast to 2027 (US$ Million)
Table 22. Italy: Weapon Mount Market, by Platform –Revenue and Forecast to 2027 (US$ Million)
Table 23. Italy: Weapon Mount Market, by Ground –Revenue and Forecast to 2027 (US$ Million)
Table 24. Italy: Weapon Mount Market, by Naval –Revenue and Forecast to 2027 (US$ Million)
Table 25. Italy: Weapon Mount Market, by Airborne –Revenue and Forecast to 2027 (US$ Million)
Table 26. Russia: Weapon Mount Market, by Mount Type –Revenue and Forecast to 2027 (US$ Million)
Table 27. Russia: Weapon Mount Market, by Mode of Operation –Revenue and Forecast to 2027 (US$ Million)
Table 28. Russia: Weapon Mount Market, by Platform –Revenue and Forecast to 2027 (US$ Million)
Table 29. Russia: Weapon Mount Market, by Ground –Revenue and Forecast to 2027 (US$ Million)
Table 30. Russia: Weapon Mount Market, by Naval –Revenue and Forecast to 2027 (US$ Million)
Table 31. Russia: Weapon Mount Market, by Airborne –Revenue and Forecast to 2027 (US$ Million)
Table 32. Rest of Europe: Weapon Mount Market, by Mount Type –Revenue and Forecast to 2027 (US$ Million)
Table 33. Rest of Europe: Weapon Mount Market, by Mode of Operation –Revenue and Forecast to 2027 (US$ Million)
Table 34. Rest of Europe: Weapon Mount Market, by Platform –Revenue and Forecast to 2027 (US$ Million)
Table 35. Rest of Europe: Weapon Mount Market, by Ground –Revenue and Forecast to 2027 (US$ Million)
Table 36. Rest of Europe: Weapon Mount Market, by Naval –Revenue and Forecast to 2027 (US$ Million)
Table 37. Rest of Europe: Weapon Mount Market, by Airborne –Revenue and Forecast to 2027 (US$ Million)
Table 38. List of Abbreviation
LIST OF FIGURES
Figure 1. Weapon Mounts Market Segmentation
Figure 2. Weapon Mounts Market Segmentation – By Geography
Figure 3. Europe Weapon Mounts Market Overview
Figure 4. Italy to Show Great Traction During Forecast Period
Figure 5. Non-Static Mount Segment Held the Largest Market Share
Figure 6. Ground Platform Segment Held the Largest Market Share
Figure 7. Porter’s Five Forces Analysis
Figure 8. Weapon Mounts Market – Ecosystem Analysis
Figure 9. Weapon Mounts Market: Impact Analysis of Drivers And Restraints
Figure 10. Europe Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. Weapon Mounts Market Revenue Share, by Mount Type (2019 and 2027)
Figure 12. Static Mount: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. Non-Static Mount: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. Weapon Mounts Market Revenue Share, by Platform (2019 and 2027)
Figure 15. Ground: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. Vehicle-Mounted: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Fixed Installation: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Dismounted Soldiers: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Naval: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Aircraft Carriers: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Destroyers: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Frigates: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Corvettes: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Offshore Patrol Vessels: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Airborne: Weapon Mounts Market –Revenue and Forecast to 2027 (US$ million)
Figure 26. Combat Aircraft: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Attack Helicopters: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Special Mission Aircraft: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Weapon Mounts Market Revenue Share, by Mode of Operation (2019 and 2027)
Figure 30. Manned: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Remotely Operated: Weapon Mounts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. Europe Weapon Mount Market Revenue Share, by Region (2019 and 2027)
Figure 33. UK: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 34. Germany: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 35. France: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 36. Italy: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 37. Russia: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 38. Rest of Europe: Weapon Mount Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 39. Impact of COVID-19 Pandemic in Europe Country Markets
The List of Companies - Europe Weapon Mounts Market
- AEI Systems Ltd.
- CRSystemsInc
- Engine Engineering Company
- FN HERSTAL
- Troy Products
- Leonardo
- ISTEC SERVICES LTD
- Military Systems Group, Inc.
- TMIL-systems
- WE Platt
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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