What Has Been The Evolution of the Weapon Mounts Market in Recent Years?
The weapon mounts market has seen considerable growth due to a variety of factors.
•The market size for weapon mounts has significantly expanded in the previous years. Anticipated to rise from $1.57 billion in 2024 to $1.69 billion in 2025, it is projected to experience a compound annual growth rate (CAGR) of 7.7%.
The surge in growth during the historical period is due to factors such as the progress of military modernization initiatives, expansion of defense budgets, emphasis on infantry mobility, escalation of worldwide security threats, operations by special forces, and aspects of urban warfare.
What Is the Forecasted Market Size and Growth Rate for The Weapon Mounts Market?
The weapon mounts market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the weapon mounts market is anticipated to experience significant growth. The market value is expected to rise to $2.22 billion by 2029 with a compound annual growth rate (CAGR) of 7.0%.
This growth during the projected period can be linked to developments in fire control systems, emphasis on modular weapon platforms, energy-efficient weapon mounts, a growing need for non-lethal alternatives, and improved durability and reliability. Key trends for the forecast period encompass integration with unmanned systems, modularity and flexibility in designs, remote weapon station (RWS) technology, advanced stabilization systems, and inclusion of smart technologies.
Which Factors Are Boosting Growth In The Weapon Mounts Market?
The weapon mounts market anticipates growth driven by heightened procurement and modernization efforts in military organizations. These programs involve strategic methods for acquisition of new, cutting-edge weapons, equipment, and technologies, enhancing their mission capability and satisfying operational requirements. Weapon mounts, typically used to securely fasten firearms like machine guns to ground platforms, provide increased stability and precision during discharge, which is integral to military operations. To illustrate, the Stockholm International Peace Research Institute (SIPRI), an independent international research organization based in Sweden, reported in April 2024 that the total global military expenditure was $2443 billion in 2023. This marked an increase of 6.8 per cent in real terms from 2022. Consequently, the escalated procurement and modernization activities by military organizations are propelling the expansion of the weapon mounts market.
What Key Areas Define The Segmentation Of The Global Weapon Mounts Market?
The weapon mounts market covered in this report is segmented –
1) By Platform: Ground, Naval, Airborne
2) By Operation: Manned, Remotely Operated
3) By Application: National Defense, Security, Business Performance, Other Applications
Subsegments:
1) By Ground Vehicles: Armored Vehicles, Tactical Vehicles, Infantry Fighting Vehicles (IFVs)
2) By Naval Vehicles: Warships, Submarines, Patrol Vessels
3) By Airborne Vehicles: Combat Aircraft, Helicopters, Unmanned Aerial Vehicles (UAVs)
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How Are Emerging Trends Reshaping The Dynamics Of The Weapon Mounts Market?
The weapon mounts market is experiencing a surge in popularity due to technological advancements. Firms in this sector are prioritizing modern mobile artillery systems in an effort to increase mobility, accuracy of targeting, and adaptability of firepower in contemporary combat situations. These systems merge artillery firepower with mobility, leading to more rapid deployment and repositioning, thereby enabling more accurate and versatile operations. For example, in April 2024, Hyundai Wia, a motor vehicle manufacturer from South Korea, launched a land vehicle-mounted weapon system at FIDAE in Chile. The 105mm self-propelled howitzer presented by the company is distinctively light in weight, improving portability and its range, and lessening the need for crew members to just seven. Also, an 81mm mortar system, intended for small tactical vehicles to advance battlefield mobility, was exhibited by Hyundai Wia. Such innovations signify Hyundai Wia's efforts to consolidate its position in the international defense market and further regional military modernization.
Who Are the Key Players in the Weapon Mounts Market?
Major companies operating in the weapon mounts market include:
• Dillon Aero Inc.
• AEI Systems Limited
• Military Systems Group Inc.
• Leonardo S.p.A.
• Rafael Advanced Defense Systems Ltd.
• Rheinmetall AG
• Kongsberg Gruppen ASA
• Raytheon Technologies Corporation
• Elbit Systems Ltd.
• Saab AB
• BAE Systems plc
• FN Herstal S.A.
• Denel Vehicle Systems (Pty) Ltd.
• General Dynamics Ordnance and Tactical Systems Inc.
• Moog Inc.
• Otoker Otomotiv ve Savunma Sanayi AS
• Thales Group
• Lockheed Martin Corporation
• Northrop Grumman Corporation
• AeroVironment Inc.
• FLIR Systems Inc.
• Esterline Technologies Corporation
• Curtiss-Wright Corporation
• Meggitt plc
• Cobham plc
• Harris Corporation
• L3 Technologies Inc.
• Trijicon Inc.
• Aimpoint AB
• American Defense MFG LLC
What Is The Most Dominant Region In The Weapon Mounts Market?
Asia-pacific was the largest region in the weapon mounts market in 2024. The regions covered in the weapon mounts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
