Weapon Mounts Market Size

Weapon Mounts Market Size

Weapon Mounts Market size exceeded USD 1.87 billion in 2019 and will grow at 2.5% CAGR from 2020 to 2026. Rising military expenditure owing to unstable international security conditions will drive the industry expansion.

The global defense sector is expected to continue upward trajectory in the next few years due to political and security tensions. These unsettling situations will compel many countries to increase their defense expenditure. They will also help these countries to revitalize and modernize & solidify armaments portfolio. Rising military spending will create a plethora of opportunities for defense contractors, supply chain players that will fuel the market demand.

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In 2019, worldwide defense spending accounted for nearly USD 2 trillion, showcasing growth of about 3.5% over 2018. The majority of spending is contributed by five countries, including, the U.S., China, India, Russia, and Saudi Arabia. The procurement of weapons and military equipment is likely to bolster amid intensification of security threats, influencing the market growth trends.
 

Continuous research & development activities and integration of cutting-edge technologies within the armaments sector will support the industry expansion. Technical experts and engineers work in collaboration with military organizations to understand basic need and modernize weapon systems accordingly. The advent of technology will aid in improving the operational capabilities of weapon mounts.
 

Moreover, it will prevent blocking of weapons, offer better stability, and improve targeting accuracy during combat situations. Furthermore, the product cost may increase by incorporation of technological elements, negatively influencing the weapon mounts industry growth.