“Ongoing military modernizations and increased procurement of armored vehicles, naval ships, and aircraft, among others, are expected to fuel the growth of the weapon mounts market across the globe.”
The weapon mounts market is projected to grow from USD 1.1 billion in 2019 to USD 1.8 billion by 2025, at a CAGR of 7.7% during the forecast period. Some of the factors that are expected to fuel the growth of the weapon mounts industry are increased procurement of armored vehicles, rotorcraft, machine guns, and aircraft by militaries worldwide, ongoing modernization of naval platforms by various countries, and increasing demand for remote weapon stations for military applications, among others. However, challenges such as high technical expertise requirements for the development of weapon mounts for remote operations are curbing the growth of this market.
“The static mounts segment is projected to grow at the highest CAGR during the forecast period due to the rising procurement of armored vehicles globally.”
Based on mount type, the static mounts segment is projected to grow at the highest CAGR during the forecast period due to the increase in the number of platforms where static mounts can be deployed, and the upgrades of these platforms by replacing older weapons with new and modern weapons. Procurement programs for armored vehicles, naval ships, and aircraft are driving the market for weapon mounts.
“The naval segment is expected to lead the weapon mounts industry in 2019.”
Based on platform, the naval segment is estimated to account for the largest share of the weapon mounts market in 2019. Modernization programs to upgrade weapons and weapon mounts for the mount’s platform is driving the market. Additionally, the procurement of new naval ships by countries such as the US, India, China, Germany, and France, among others, is also driving the market for weapon mounts.
“The manned segment is expected to grow at the highest CAGR during the forecast period.”
Based on mode of operation, the manned segment is expected to grow at the highest CAGR during the forecast period due to the increase in demand for machine guns, sniper rifles, and automatic rifles by various militaries globally. For example, in February 2019, the Indian Army planned to procure 73,000 assault rifles and 44,000 Light Machine Guns (LMGs) to be deployed across the Indo-Pak border. The contract will most likely be awarded to a US firm supplying Sig Sauer rifles.
“Asia Pacific is estimated to account for majority of the global weapon mounts market share in 2019.”
Asia Pacific is expected to lead the weapon mounts market in 2019. The market in the region has tremendous potential due to the need for armored vehicles, aircraft, and helicopters. Additionally, the increased procurement of weapons for soldiers is driving the market. The region has key investors in defense technology such as China, India, and Japan which invest heavily to modernize their troops. For example, in February 2019, the Indian Ministry of Defense started the procurement of Beretta .338 Lapua Magnum Scorpio TGT and Barrett .50-calibre M95 sniper rifles. These rifles are said to replace the Russian Dragunov sniper rifles.
The break-up of the profiles of primary participants in the weapon mounts market is as follows:
- By Company Type: Tier 1–35%; Tier 2–45%; and Tier 3–20%
- By Designation: C Level Executives–35%; Directors–25%; and Others–40%
- By Region: North America–45%; Europe–20%; Asia Pacific–30%; and Middle East and South America–5%
Major players operating in the weapon mounts market are Kongsberg Gruppen (Norway), Raytheon Company (US), Elbit Systems (Israel), Saab AB (Sweden), and BAE Systems (UK), Dillion Aero (US), AEI Systems Ltd. (UK), FN Herstal (Belgium), Capco LLC. (US), and ISTEC Services Ltd. (UK), among others.
The study covers the weapon mounts market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on type, platform, mode of operation, weapon compatibility, and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons To Buy this Report
- This report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall weapon mounts market and its segments.
- This study is also expected to provide region-wise information about the applications, wherein weapon mounts are used.
- This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
- This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.