The global weapon mounts market size is expected to be worth USD 1.48 Billion in 2023. It is expected to grow at a CAGR of 7.70% during the forecast period and reach a value of USD 2.14 Billion by 2028.
Weapon mount is an assembly that holds a weapon, like guns and snipers. There are two types of weapon mounts, including the static mount and the non-static mount. Recent developments in laser weapons are also likely to supplement growth in the weapon mounts business. For instance, DRDO (India) recently conducted a laser weapon test mounted on a truck.
The increasing adoption of rotorcraft, aircraft, armored vehicles, and other vehicles by the militaries and the ongoing advancements in the naval platforms across several regions are the key drivers fuelling the weapon mount market's growth. Moreover, an increase in the procurement of combat aircraft drives, growing requirements for sniper rifles and machine guns, and an increase in the military's investments for purchasing weapon mounts and armored vehicles are other factors driving the growth of the weapon mounts market.
The factors restraining the weapon mount business include a lack of technical knowledge to produce weapon mounts, a reduction in the military budget, stability issues, and the heavy weight of more solid portable mounts. The growth in asymmetric warfare propels the military forces to opt for easy and convenient traversing capability, which may further hamper the industry's growth.
Impact of COVID-19 on the weapon mounts market:
The manufacturing rate of weapon mounts worldwide has been negatively affected due to the government-imposed lockdowns and restrictions on public gatherings as a part of controlling coronavirus transmission. The market for spare parts is also inoperative since less maintenance is required currently. There will be a substantial rise in demand for weapon mounts in the coming years as the world starts shifting toward normalcy. Asia-Pacific and Middle Eastern countries like India, Japan, UAE, and others have ambitious plans to manufacture many armoured-mounted vehicles. However, the procurement process is at a halt due to the COVID-19 pandemic. Slowing down major defense buyer countries' economies due to coronavirus will impact their defense budget, which will directly affect the weapon mounts market.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 to 2028 |
Base Year |
2022 |
Forecast Period |
2023 to 2028 |
CAGR |
7.7% |
Segments Covered |
By Product Type, Platform, weapon Compatibility, Mode of Operation, and Region |
Various Analyses Covered |
Global, Regional, and country-level analysis; Segment-Level Analysis; DROC, PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global weapon mounts market has been segmented and sub-segmented into the following categories.
Global Weapon Mounts Market – By Product Type:
In 2019, the non-static mounts type segment was estimated to have the largest market share of 67.7% and is expected to continue its top position during the analysis timeframe. Growing demand for the movement of mounted weapons on vehicles and ground operations is expected to propel the market for non-static weapon mounts in the estimated time.
Prominent militaries worldwide are investing in the procurement of advanced mechanisms for mounting specialty weapons, thus aiding market growth. These mounts have applications in the training and on-ground military, naval, and tactical operations, thereby affecting the demand on a positive note.
The weapon's static mounts are non-portable mounts, which lock the weapons once mounted on it. Turrets and coaxial mounts head most of the demand for static mounts due to their rising popularity for compatibility and usage, thereby positively supporting the market.
The rising need for unmanned war components at fixed locations like borders and critical zones is foreseen to increase the installation of static weapons, supporting the growth in this fragment. However, less precision and compatibility with limited weapons are anticipated to pose challenges for the segment's growth in the overall market.
Global Weapon Mounts Market – By Platform:
In 2019, the ground platform segment is valued for the largest share of 46.9% and is estimated to continue this trend during the forecast period 2020-2026. Increasing investment in defense operations worldwide, majorly for ground activities, is predicted to propel the market for weapon mounts.
The mounts installed on the ground platform are used in tanks, infantry fighting vehicles, armored carriers, protected vehicles, and mortar carriers. These are primarily fixed mounts that require enhanced stability when mounted on moving vehicles. Ground defense operations are estimated to expand owing to the political and territorial conflicts between major nations worldwide. Therefore, they are supposed to aid the industry in growth during the forecast timeframe.
The naval platforms for weapon mounts are likely to observe the fastest growth rate during the forecast timeframe. The mounts' growing installation on aircraft carriers, frigates, corvettes, and patrol vessels is foreseen to increase the products' penetration during the forecast timeframe.
The airborne platforms for weapon mounts are estimated to gain momentum in the upcoming period owing to the growing demand for combat aircraft by significant air forces worldwide. Weapons mounts in airborne platforms are used in combat aircraft, attack helicopters, and mission aircraft.
Global Weapon Mounts Market – By Weapon Compatibility:
The automatic cannons segment is projected to lead the weapon mounts market during the outlook period due to increased armored vehicle procurement globally. Additionally, modernization programs to install remote weapon stations and turrets with advanced weapons drive the weapon mounts business.
Global Weapon Mounts Market – By Mode of Operation:
The Manned segment is determined to increase at a higher CAGR over the foreseen period due to the increase in the militaries' spending for the procurement of sniper rifles, machine guns, and other automatic rifles across the world.
Global Weapon Mounts Market – By Region:
In 2019, the Asia Pacific market dominated the global market for weapon mounts with a 38.45 revenue share and is estimated to continue this trend during the conjecture period. China, India, Japan, South Korea, North Korea, and Pakistan are among the most prominent players investing in defense operations. Growing conflicts between the countries in the region and strengthening the defense capabilities are foreseen to create market opportunities.
The ongoing tension between the U.S. and Iran has resulted in developments in the respective countries' defense systems. Therefore, the demand for the mounts is expected to increase in the projected time. The commission of advanced weapons and components by the U.S. defense systems is estimated to support the market through the forecast timeframe.
Europe accounted for a significant share of weapon mount consumption in 2019 and is estimated to propel during the forecast timeframe. Growing defense expenditure by the major nations, including the U.K., Germany, France, and Russia, is supposed to expand the procurement of advanced weapon systems, thereby positively supporting the market.
In the Middle East and Africa, the market is anticipated to accelerate in the foreseen duration due to high defense systems and high investments. Saudi Arabia, UAE, Iran, and Iraq have considerably invested in their respective militaries and air forces and have impacted the market positively.
KEY MARKET PLAYERS:
Several prominent players operating in the weapon mounts market are Military Systems Group, Inc., AEI Systems Ltd., KNDS, Crsystems Inc., Ohio Ordnance Works, Inc., Leonardo S.P.A., Fjord Defense AS, FN Herstal, Dillon Aero, and Capco LLC, among others.
RECENT HAPPENINGS IN THE MARKET:
FAQ's
The primary functions of weapon mounts include providing a stable platform for firing, facilitating aiming and targeting, absorbing recoil forces, and enabling the controlled movement of mounted weapons.
The growth of the weapon mounts market is influenced by factors such as increasing defense budgets, modernization of military equipment, rising security threats, and the need for flexible and agile weapon systems.
Technological advancements have led to the development of smart weapon mounts with features like stabilization, remote operation, integrated sensors, and compatibility with advanced sighting systems.
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