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Aircraft Weapons Market Trends

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

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.

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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