The Military Segment is Expected to Register the Highest Growth During the Forecast Period
The military segment is expected to witness the highest growth during the forecast period, owing to the modernization programs of various countries. The procurement of new and advanced infantry weaponry, like sniper rifles, light machine guns, and automatic weapon systems, may drive the growth of the segment. For instance, in the coming years, the US Army plans to procure over 120,000 new light machine guns and rifles to replace M4 carbine and M249 squad automatic weapons. Such robust plans are anticipated to generate demand for new and advanced riflescopes during the forecast period. Also, the procurement of advanced scopes by the armed forces for higher accuracy and effectiveness to hit the target may propel the growth during the forecast period.
Worldwide Industry for Riflescopes to 2025 - The Military Segment is Expected to Register the Highest Growth - ResearchAndMarkets com - Press Release digitaljournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from digitaljournal.com Daily Mail and Mail on Sunday newspapers.
Centre to acquire military hardware worth Rs 28,000 crore
Centre to acquire military hardware worth Rs 28,000 crore
Last Updated: Fri, Dec 18th, 2020, 09:44:49hrs
New Delhi: The defence ministry approved procurement of weapons and military equipment worth Rs 28,000 crore for the three services, officials said.
The procurement proposals were cleared at a time India and China are locked in a bitter border standoff in eastern Ladakh.
The officials said almost all the weapons and military hardware approved for procurement will be acquired from domestic industry. The Defence Acquisition Council headed by Defence Minister Rajnath Singh approved proposals to procure equipment worth Rs 27,000 crore from domestic industry, the defence ministry said in a statement.
India will win future war with indigenously-developed weapons: Rawat kashmirtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kashmirtimes.com Daily Mail and Mail on Sunday newspapers.