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Aircraft Weapons Market - By Aircraft Type (Fixed-Wing Aircraft, Rotary-Wing Aircraft, Unmanned Aerial Vehicles (UAVS)), By Weapon Type (Air-To-Air Weapons, Air-To-Ground Weapons, Anti-Ship Weapons, Countermeasures) By Range, By Guidance Systems, By End Use & Forecast 2023 – 2032

  • Report ID: GMI6992
  • Published Date: Oct 2023
  • Report Format: PDF

Aircraft weapons Market Size

Aircraft Weapons Market was valued at USD 9.6 Billion in 2022 and is estimated to register a CAGR of over 8% between 2023 and 2032. The Advances in stealth technology and long-range precision strike capabilities have indeed played a pivotal role in shaping the development of next-generation weapons systems, driving the aircraft weapon market growth. Stealth technology involves designing aircraft, missiles, and other military platforms to minimize their radar, infrared, and acoustic signatures. This makes them less detectable and trackable by enemy air defense systems. Key developments in stealth technology include the design of aircraft with reduced radar cross-sections, advanced materials that absorb or deflect radar waves, and exhaust systems that minimize heat signatures. Stealth technology allows for the element of surprise and increased survivability in hostile environments.

Aircraft Weapons Market

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Aircraft weapons, also known as ordnance, are a crucial component of military aviation. These specialized tools are designed and built to serve various functions, enhancing the combat capabilities of aircraft. Aircraft weapons encompass a wide range of munitions, including missiles, bombs, torpedoes, gun systems, and other payloads that can be carried and deployed by fixed-wing aircraft, rotorcraft, drones, and other aerial platforms. The primary purpose of aircraft weapons is to achieve air superiority and project power by engaging and neutralizing targets on land, at sea, or in the air. These weapons are meticulously engineered for precision and lethality, while also considering factors like aerodynamics, weight, and compatibility with the aircraft's systems.

The Limited defense budgets can significantly constrain the aircraft weapons market. Developing, procuring, and maintaining advanced weapon systems is costly, and in many cases, governments face financial limitations. This can lead to delays in procurement, scaled-down programs, and reduced investments in innovative weaponry. Budgetary constraints are a prominent restraint in the aircraft weapons industry. Defense budgets are often limited, and developing, procuring, and maintaining advanced weapon systems is a costly endeavor. As a result, many governments face financial limitations that affect the growth and innovation in this market. These budgetary constraints can lead to delays in procurement, scaled-down programs, and reduced investments in innovative weaponry, potentially hindering military modernization efforts and limiting the deployment of cutting-edge technologies in the aerospace and defense sectors.

COVID-19 Impact

The pandemic disrupted global supply chains, leading to delays in the production and delivery of critical components for aircraft weapons. This resulted in setbacks for various defense programs and affected the availability of necessary materials for weapon systems. Overall, the COVID-19 pandemic resulted in decreased demand, disrupted supply chains, and delayed projects, which adversely impacted market growth. The pandemic affected the operational readiness of military forces. Aircraft deployment and training exercises were limited or postponed mitigating the spread of the virus, which impacted the demand for certain weapon systems and delayed their integration into operational use.

Aircraft Weapons Market Trends

Increased Demand for Precision Munitions is driving the market. There has been a growing demand for precision-guided munitions (PGMs) and smart weapons. These systems offer greater accuracy and reduce collateral damage, making them more appealing for military operations. Many countries have focused on modernizing their existing fleets of aircraft with upgraded weapon systems. This is often more cost-effective than procuring entirely new platforms. Precision-guided munitions are designed to hit their targets with a high degree of accuracy. This accuracy is achieved using advanced guidance systems, such as GPS, inertial navigation, or laser guidance. As a result, PGMs are much more precise than traditional "dumb" munitions like unguided bombs or artillery shells. This accuracy is crucial for minimizing collateral damage and reducing the risk to friendly forces.

The integration of aircraft into network-centric warfare (NCW) systems represents a fundamental shift in the way modern militaries operate and conduct operations. Network-centric warfare is a concept that emphasizes the use of information and communications technology to connect military assets, share data, and improve decision-making processes. Network-centric warfare enables aircraft to share real-time data with other platforms, such as ground forces, naval vessels, and command centers. This data can include information on the aircraft's location, sensor data (e.g., radar, infrared, and electro-optical data), and mission status. This shared information is fused and analyzed to create a comprehensive and up-to-date picture of the battlefield. Network-centric warfare allows for collaborative targeting, where multiple assets can work together to identify and engage targets. For example, an aircraft can use its sensors to detect a target and share its coordinates with other platforms, such as artillery units or other aircraft, to engage the target more effectively.

Aircraft Weapons Market Analysis

Aircraft Weapons Market Size, By Aircraft Type, 2021-2032, (USD Billion)

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Based on aircraft type, the market is segmented into fixed-wing aircraft, rotatory wing aircraft and unmanned aerial vehicles. The fixed-wing aircraft, segment dominated the market in 2022, accounting for a revenue of over USD 5.5 Billion in 2022. this segment is also estimated to register a CAGR of about 8% over the forecast period.

  • The demand for multirole aircraft and weapons increases. Modern fixed-wing aircraft are expected to perform a wide range of missions, from air-to-air combat to air-to-ground attacks, requiring adaptable weapon systems.
  • The trend towards precision-guided munitions (PGMs) and smart weapons is a significant driver. These munitions offer higher accuracy and reduce collateral damage, making them preferred choices in contemporary warfare.
  • The availability of a robust defense industrial base and a skilled workforce is essential. It supports research, development, and production of advanced weaponry for fixed-wing aircraft. Countries with vast territorial interests, maritime regions, or border disputes often invest in fixed-wing aircraft weapons to secure these areas effectively.
 Aircraft Weapons Market Share, By End-Use, 2022

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Based on end use, the market is segmented into military, army, navy, civilian, law enforcement, security agencies. The military segment held a market share of over 8% in 2022 and is estimated to grow over the forecast period.

  • Ongoing geopolitical conflicts, territorial disputes, and rising global tensions drive the need for military forces to be well-equipped with advanced aircraft weapons. Nations seek to maintain military superiority to protect their interests and national security.
  • The allocation of substantial defense budgets is a primary driver of growth in the military aircraft weapons market. Increased defense spending enables countries to invest in the research, development, and procurement of cutting-edge aircraft weapons.
  • There is a growing demand for multirole aircraft and versatile weapon systems. Modern military aircraft are expected to perform a wide range of missions, including air-to-air combat, air-to-ground strikes, and intelligence, surveillance, and reconnaissance (ISR). The focus on precision-guided munitions (PGMs) and smart weapons is a significant growth driver. These munitions offer higher accuracy, reduced collateral damage, and enhanced mission success rates, making them a preferred choice in modern warfare.
China Aircraft Weapons Market Size, 2021-2032, (USD Billion)

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The region of Asia Pacific is expected to witness significant growth during the forecast period., accounting for a market share of over 8.5%. The Asia Pacific region is experiencing significant growth in the aircraft weapon market due to rapid industrialization, the rising demand for automation solutions, and the need for cost-effective labor alternatives. Manufacturers in the region are increasingly adopting aircraft weapon solutions to enhance productivity and maintain consistent weld quality. The availability of skilled labor, coupled with the government initiatives promoting automation, is driving market growth. The growing automotive and construction sectors in Asia Pacific are fueling the demand for efficient & precise welding processes, leading to the aircraft weapon market growth in the region.

Aircraft Weapons Market Share

The aircraft weapon industry is highly competitive owing to the presence of key players such as:

  • Boeing Company
  • General Dynamics
  • Lockheed Martin
  • MDBA
  • Northrop Grumman
  • SAAB
  • Thales group

Significant investments in R&D to gain technological competitiveness and aggressive business strategies including technological launches as well as collaborations and long-term agreements with clients to capture market share are positively impacting market growth.

Aircraft Weapons Industry News

  • In January 2023: India announced their plan to spend USD 552 million to acquire air defense and naval weapons. The Halina missiles, launchers, and associated support equipment are to be integrated into advanced light helicopters.

The aircraft weapons market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:

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Market, by aircraft type

  • Fixed-Wing Aircraft
    • Fighter Jets
    • Bombers
    • Transport Aircraft
  • Rotary-Wing Aircraft
    • Attack Helicopters
    • Transport Helicopters
    • Reconnaissance Helicopters
  • Unmanned Aerial Vehicles (UAVs)
    • Drones
    • Unmanned Combat Aerial Vehicles (UCAVs)

Market, by weapon type

  • Air-to-Air Weapons
  • Air-to-Ground Weapons
  • Anti-Ship Weapons
  • Countermeasures

Market, by range

  • Short-Range Weapons
  • Medium-Range Weapons
  • Long-Range Weapons

Market, by guidance system

  • GPS-Guided Weapons
  • Laser-Guided Weapons
  • Inertial-Guided Weapons
  • Autonomous Weapons
  • Others

Market, by end use

  • Military
  • Army
  • Navy
  • Civilian
  • Law Enforcement
  • Security Agencies

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • MEA
    • Saudi Arabia
    • Israel
    • UAE
    • South Africa
    • Rest of MEA
Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for aircraft weapons was USD 9.6 billion in 2022 and will register over 8% CAGR from 2023-2032 due to the rising advances in stealth technology and long-range precision strike capabilities worldwide.

Aircraft weapons market from the fixed-wing aircraft type segment is expected to register over 8% CAGR from 2023-2032 owing to the rising trend towards precision-guided munitions (PGMs) and smart weapons.

Asia-Pacific aircraft weapons industry is expected to register appreciable CAGR from 2023-2032 owing to the rapid industrialization, rising demand for automation solutions, and the greater need for cost-effective labor alternatives in the region.

Boeing Company, General Dynamics, Lockheed Martin, MDBA, Northrop Grumman, SAAB, and Thales group are some of the major aircraft weapons companies worldwide.

Aircraft Weapons Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 13
  • Tables & Figures: 405
  • Countries covered: 21
  • Pages: 200
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