Weapon Mounts Market size to reach $2.2 Bn by 2026
Published Date: September 28, 2020 Authors: Kiran Pulidindi, Akshay Prakash
Weapon Mounts Market size is poised to surpass USD 2.2 billion by 2026, according to a new research report by Global Market Insights, Inc.
Increasing civil conflicts in the Middle East along with rising tensions in Asia are fueling the trade of armaments across the globe. Governments, military alliances, and international security organizations are procuring a number of weapons for defense, peacekeeping operations, and conflict engagements. The major portion of arms flow is concentrated in the Middle East, and Saudi Arabia was the largest arms importer in 2019.
High degree of complexity and technical expertise requirements may hamper weapon mounts market expansion. As manufacturers are continuously trying to modernize mounts with the aid of research & development activities, equipping weapon mounts with state of the art technological aspects may increase the product costs. High costs of weapon mounts can act as a hindrance to consumer entities who are trying to procure these mounts with restricted budgets. These products are generally designed to work in harsh environmental conditions and have excellent durability and long service life, minimizing the need of replacements in the short run.
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Browse key industry insights spread across 140 pages with 115 market data tables & 23 figures & charts from the report, “Weapon Mounts Market Size By Type (Static, Non-static), By Mode of Operation (Manual, Remotely Operated), By Application (Land, Sea, Air), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Efficient operational characteristics to drive static mounts demand
The static weapon mounts market is projected to grow at 2% CAGR during 2020 to 2026. Static mounts are not portable, these are either mounted on a vehicle, sea vessel, helicopter, aircraft, to the ground or on a fortification. Turrets are widely used by military organizations owing to their ability to provide weapon fire while ensuring the safety of crew members. The turrets have a rotating structure and mounted on tanks, armored combat vehicles, ships, etc. These mounts can accommodate a variety of weapons including machine guns, large-caliber guns, machine cannons, etc.
Coaxial mount is another popular mount preferred by battle tanks and infantry fighting vehicles. Fixed mounts are available in fully fixed & partially fixed configurations, and these are generally used on battle aircraft. Swing arms are flexible and offer a wide range of targeting capabilities.
Manually operated mounts to dominate the market share
Manually operated weapon mounts are traditional weapon systems and are expected to witness growth rate of above 2.4% CAGR through 2026. Operator’s safety is compromised while handling weapon systems based on these mounts. Many manufacturers are developing remotely operated systems with the help of technological evolutions to safeguard the lives of soldiers. However, these systems are much more complex & expensive, and military organizations currently prefer manually-operated mounts owing to financial viability.
Strengthening of airborne military vessels to compliment the weapon mounts market demand
The trade of fighters, interceptors, combat aircraft, and fighting helicopters is on the rise as various governments are trying to strengthen their aircraft military strength. The U.S. is a major arms exporter and top supplier of combat aircraft to various countries in Asia and the Middle East.
Rising conflicts within Asia Pacific to augment the industry growth
Asia Pacific weapon mounts market is anticipated to capture over 45% share by 2026. As tensions and border disputes continue to rise, countries are spending huge amounts of money on defense programs and arms procurement. Furthermore, respective governments are formulating supportive policies to accelerate the growth of the defense sector.
The key industry players include FN Herstal, Leonardo S.p.A., Moog Inc., Otoker, Rheinmetall AG, Rafael Advanced Defense Systems, Electro Optic Systems, Elbit Systems, and BAE Systems.