Thermobaric Munitions Market Size, Share and Russia-Ukraine War Impact Analysis, By Type (Warheads, Mines, Explosives, Grenades, and Incendiary devices), By Platform (Land, Airborne, and Maritime), By Technology Type (Guided and Unguided), By End User (Military, Government, and Law Enforcement) and Regional Forecast, 2024-2032

Thermobaric weapons are explosive weapons that combines the high temperature and pressure to create a shocking blast. They are often used in military operations to destroy bunkers, tunnels, caves, and other fortified structures, as well as to clear vegetation and create firebreaks. Thermobaric weapons release a cloud of flammable material, such as a mixture of oxygen and fuel, into a confined space, igniting a powerful blast.

Key Market Insights

The market for thermobaric munitions is anticipated to grow in the research period owing to the increasing demand for advanced weapons that are more destructive than traditional ones. With the world economies becoming stronger, so are their defense and weapon systems. The rising tensions around boundaries and increasing cross-border terrorism compelled militaries to strengthen their munitions and weapon systems. In May 2022, Russia claimed to have used the thermobaric weapon on Ukraine. The developing economies are also procuring or indigenously developing thermobaric weapons to strengthen their military power. India is also starting the production of thermobaric munitions.

Thermobaric weapons are controversial and can cause indiscriminate harm to civilians, which is against international humanitarian laws. These kinds of restrictions can restrain the growth of this market. Thermobaric munitions are expensive and require expertise, which is why few countries can manufacture this weapon, which can also hinder the growth of the thermobaric munition market.

Impact of the Russia-Ukraine War on the Thermobaric Munitions Market

The Russia-Ukraine war has a positive impact on the thermobaric munitions market. In October 2022, a fresh batch of the TOS-1A Solntsepyok multi-barrel rocket system was supplied to the Russian military by UralVagonZavod, a Russian weapon manufacturer. The supply of weapons was made during the invasion of Ukraine by Russia. Furthermore, owing to the war many countries have ramped up their defense budget owing to the increased threat. For instance, the U.S. has requested total defense budget of USD 773 billion for the year 2023, and is expected to reach USD 800 billion total spending. Moreover, many European countries such as Germany are focused in improving their defense budget which will further support the increase in munitions market.

The thermobaric munitions market can be segmented by type, they are warheads, mines, explosives, grenades, and incendiary devices. Based on technology type, thermobaric munitions can be guided or unguided and based on the end user can be military, government, and commercial. Based on geography, the market is studied across North America, Europe, Asia Pacific, and the Rest Of The World.

Key Insights

The report will include the following key insights:

• The report analyzes a detailed industry overview, including qualitative and quantitative information.


• The report analyzes an overview and forecast of the thermobaric munitions market based on various segments.


• The report also analyzes comprehensive PEST analysis for all five regions, i.e., North America, Europe, Asia Pacific, Rest of the World, after evaluating economic, social, political, and technological factors affecting the impact of the thermobaric munitions market in these regions.

Regional Analysis

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North America is expected to lead the thermobaric munitions market. The US defense budget increased by USD 26 billion in FY2024 over FY2023, further fueling the growth in research and development in the ordinance and weapon manufacturing sectors.

Europe is anticipated to hold a significant market share due to the presence of economies with highly advanced weaponry like Russia.

The Asia Pacific is expected to have a moderate market share. The growth rate is expected to be the highest among all geographies owing to increase spending to strengthen defense infrastructure and rising indigenous development in defense space.

Key Players Covered

The report covers the profiles of key players such as Roketsan, Norinco Group, Lockheed Martin, Hanwha defense, Munitions India Limited, Northrop Grumman, BAE Systems, NPO Splav, Rostec, BNT, and others.

Segmentation

Key Industry Developments

• In February 2023, Indian weapon manufacturer Munitions India Limited (MIL) will start mass production of 1000lb of thermobaric bombs. MIL announced during Aero India 2023 that initially, it would deliver 500 units of thermobaric weapons to Indian Air Force (IAF) by the end of the year 2023.  


• In August 2022, Turkey completed a test flight of its newly launched, fully loaded Baykar Akinsi combat drone. The drone is equipped with locally designed mini munitions MAM-L, a thermobaric variant on a multiple launcher station.