Global Ballistic Targeting System Software Market is Likely to Grow at a CAGR Value of Around 4.40% by 2028

03-Aug-2022 | Facts and Factors

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.

Ballistic targeting system software is a software used to teach snipers, hunters, and target shooters. Military organisations, shooters, and hunters all use the ballistic targeting system software for hunting and target shooting. One of the key components of the ballistic targeting software system for precise shooting is the wind direction, muzzle velocity, range finder, wind speed, and weather tracker. A ballistic calculator built into the programme computes the downrange data to help ensure an accurate shot. Professional shooters, hunters, and members of the military industry all frequently employ ballistic aiming software. One of the key components of the ballistic targeting software system for precise shooting is the wind direction, muzzle velocity, range finder, wind speed, and weather tracker.

Browse the full “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" report at https://www.fnfresearch.com/ballistic-targeting-system-software-market

The considerable expansion of the defence industry is what largely drives the global market. This is reinforced by the rising number of geopolitical confrontations worldwide and the rising defence spending in many nations. The combination of these software solutions with cutting-edge technologies, such as an integrated laser that enhances precision and helps shooters correctly aim at moving targets, is another factor driving the market. Numerous players' extensive research and development (R&D) efforts are another important growth-promoting factor.

Over the anticipated timeframe, the business for ballistic targeting system software is expected to increase significantly due to the wide availability of open-source ballistics software for aiding shooters and the ease of obtaining free software. During the anticipated time period, the industry will see new growth opportunities due to the integration of Bluetooth and wireless systems with ballistic aiming system software. However, a decline in the number of hunters could limit the market's expansion during the anticipated period of time.

The benefits provided by ballistic aiming software in improving handgun performance are a major growth factor. Ballistic targeting system software improves firearm performance by allowing users to compare trajectory and other shooting characteristics and make informed decisions. With this program, a shooter can aim with projected precision, especially when shooting at moving targets. The cost of the mobile applications for calculating ballistics starts at $2. As a result, this approach is also proving to be cost-effective. The Americas led this industry with a market share of more than 65 percent. The region has a sizable population of shooters and hunters, which will expand the use of this software and technology.

Segmental Overview

The industry can be classified into mobile, desktop, and embedded devices based on the type of device.In 2021, mobile category dominated the global market. On the basis of end-user, the market for ballistic targeting system software is classified into professional shooters, military service, and others. In 2021, military service dominated the global market.

Regional Overview

North America led this industry with a market share of more than 65 percent in 2021. The region has a sizable population of shooters and hunters, which will expand the use of this software and technology. The high level of safety consciousness among the populace and security forces in North America, as well as the substantial military spending by the local government, are considered growth indicators for the ballistic targeting system software industry.

Additionally, it is anticipated that the Asia Pacific will experience the fastest growth rate of nearly 5% over the projected period. Local industries are signing up with the contractors as a result of the growth in defense spending, and the governments of these countries are supporting them throughout the procurement process by providing the necessary financial and infrastructure assistance.

Report Scope

Prominent Vendors

The report contains qualitative and quantitative research on the global ballistic targeting system software market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.

Key players functioning in the global ballistic targeting system software market includeApplied Ballistics, Kennedy Development, LLC, Horus Vision Reticle Technologies, Lex Talus Corporation, Nikon Inc., Patagonia Ballistics, Recreational Software, Inc., Sierra Bullets, SITELITE Mag Laser, and SWAROVSKI OPTIK

Recent developments:

• In order to support Saab Barracuda's signature management and camouflage solutions in France, Solarmtex and Saab Barracuda AB have inked a partnership agreement. This was done in October 2021.
• March 2020 - The US Army awarded BAE Systems a USD 339 million contract for the manufacturing of 48 M109A7 (SPH) and related vehicle configurations, which also includes post-delivery maintenance and spare parts modification.

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

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