Global Weapon Mounts Market is projected to reach USD 1.81 Billion and register a CAGR of 7.4% between 2019 and 2026. With the increasing development of advanced weapons, the demand for mounts has been increasing to hold these weapons. Currently, remote weapon stations that are deployed on land-, sea-, and air-based combat platforms are largely being used from the last few years. Due to this, the demand for weapon mounts has been increased significantly.
Global Weapon Mounts Market has witnessed high growth in recent years owing to the increasing defense expenditure, naval modernization program, and increasing demand for remote weapon stations. However, the high durability of weapon mounts, eliminating the need for replacement is expected to hinder the growth of the market to some extent.
Increasing use of remotely operated weapon system.
- Increasing Defense Expenditures: Globally, military spending has increased significantly in recent years. According to the Stockholm International Peace Research Institute (SIPRI), global military expenditure rose by 2.6% to approximately USD 1.82 trillion from 2017 to 2019. The increase in defense expenditure is expected to boost the demand for advanced weapon systems mounted to military vehicles, aircraft, and naval ships, which is expected to boost the demand for weapon mounts.
- Naval Modernization Program
- Increasing Demand for Remote Weapon Stations
- Development of Highly Stabilized Mounts for Remotely Operated Weapon Systems
- Static Mounts: The static mounts segment accounted for the largest market share and is expected to register the highest CAGR during the review period. Static mounts include turrets, coaxial mounts, fixed mounts, pintles/pedestals, swing arm mounts, and remote weapon stations. The use of static mounts is high for land- and sea-based platforms, which is driving the growth of this segment.
- Non-Static Mounts: This segment is expected to register the highest CAGR during the forecast period. Non-static mounts include monopods, bipods, and tripods. Non-static mounts are portable, hence they are largely used by the soldiers during conflicts.
- Land: The segment dominated the weapon mounts market in 2019. This is due to the high demand for advanced weapon mounts for land-based systems such as UGVs and combat vehicles.
- Maritime: The segment is expected to witness the highest growth during the forecast period, 2019 to 2026. This is due to the increasing use of advanced weapon systems by navies.
- Airborne: The segment is expected to register the highest CAGR during the forecast period. Airborne systems such as fighter jets, helicopters, and UAVs that are equipped with advanced weapon systems require weapon mounts.
- North America: North America dominates the weapon mounts market. This trend is projected to continue during the forecast period due to the presence of prominent players, such as Crsystems Inc., Ohio Ordnance Works, Inc., and Raytheon Company, and high investments made by these companies in the development of advanced weapon mounts.
- Europe: The increasing adoption of weapon-mounted UAVs, UGVs, and combat vehicles by the military organization in Europe for performing military missions are expected to boost the demand for weapon mounts in the review period.
- Asia-Pacific: The market in this region is projected to expand at a high CAGR during the forecast period. Increasing defense expenditure and rising terrorist activities in countries such as India, China, Indonesia, and Australia are driving the growth of the market in the region.
- Middle East & Africa: The increase in defense expenditures by countries such as Saudi Arabia, the UAE, and Israel is driving the market growth in the Middle East & Africa.
- Latin America: In Latin America, there has been an increase in the use of armed helicopters and combat vehicles by the defense organizations in Brazil and Mexico is expected to boost the demand for weapon mounts.
- AEI Systems Ltd (UK)
- Capco LLC (US)
- Crsystems Inc. (US)
- Fjord Defense AS (Norway)
- FN Herstal (Belgium)
- Kongsberg Defense & Aerospace (Norway)
- Leonardo Spa (Italy)
- Military Systems Group, Inc. (US)
- Ohio Ordnance Works, Inc. (US)
- WE Platt (Australia)
Other Prominent Players
- Aselsan AS (Turkey)
- BAE Systems Plc (UK)
- Elbit Systems Ltd (Israel)
- Electro Optic Systems (Australia)
- Knds (Netherlands)
- Rafael Advanced Defense Systems Ltd (Israel)
- Raytheon Company (US)
- Rheinmetall AG (Germany)
- Saab AB (Sweden)
- ST Engineering (Singapore)
USD 1.81 Billion
Value (USD Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Mount Type, Mode of Operation and Platform
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
AEI Systems Ltd (UK), Capco LLC (US), Crsystems Inc. (US), Fjord Defense AS (Norway), FN Herstal (Belgium), Kongsberg Defense & Aerospace (Norway), Leonardo Spa (Italy), Military Systems Group, Inc. (US), Ohio Ordnance Works, Inc. (US) and WE Platt (Australia)
Key Market Opportunities
Development of Highly Stabilized Mounts for Remotely Operated Weapon Systems
Key Market Drivers
Increasing Defense ExpendituresNaval Modernization ProgramIncreasing Demand for Remote Weapon Stations
Frequently Asked Questions (FAQ) :
Weapon Mounts Market can thrive at 7.4% CAGR by 2026.
By 2026, the Weapon Mounts Market value can surpass USD 1.81 Billion.
Capco LLC (US), Crsystems Inc. (US), and Fjord Defense AS (Norway) are some reputed Weapon Mounts Market players.
The pressing need for remote weapon station can drive the Weapon Mounts Market.
Lack of military expertise can hinder the Weapon Mounts Market rise.