Weapon Mounts Market Size
Weapon Mounts Market size was over USD 1.87 billion in 2019 and will develop at 2.5% CAGR during 2020-2026.
Increasing military spending due to volatile global security situations will fuel the industry growth.
The international defense industry is forecast to sustain the growth trend in the coming years because of political and security tensions. These uncomfortable conditions will force most nations to hike defense spending. They will also aid these nations in re-strengthening and updating & consolidating armaments portfolio. Increasing military expenditure will offer a myriad of opportunities to defense contractors, supply chain elements that will drive the market demand.
To obtain major market trends
Worldwide defense expenditure in 2019 reflected close to USD 2 trillion, highlighting a growth of approximately 3.5% compared to 2018. Five nations contribute the most spending, comprising, the U.S., China, India, Russia, and Saudi Arabia. Weapons and military equipment procurement is expected to support amid growing security threats, impacting the market growth trends.
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Weapon Mounts Market Report Attributes
Report Attribute Details
Base Year 2019
Weapon Mounts Market Size in 2019 1.86 Billion (USD)
Forecast Period 2020 to 2026
Forecast Period 2020 to 2026 CAGR 2.5%
2026 Value Projection 2.22 Billion (USD)
Historical Data for 2016 to 2019
No. of Pages 140
Tables, Charts & Figures 138
Segments covered Type, Mode of operation and Application
Growth Drivers
Growing military spending worldwide
Positive trends related to armament trade
Growing demand for remotely operated weapon mounts
Pitfalls & Challenges
Complex structure and technical expertise requirements
What are the prospects for growth in this market?
Ongoing research & development processes and adoption of advanced technologies within the armaments industry will aid the growth of the industry. Technical specialists and engineers collaborate with military agencies to know primary requirement and upgrade weapon systems accordingly. The arrival of technology will help enhance the operational efficiency 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.
Weapon Mounts Market Analysis
The non-static mounts of weapons segment earned more than USD 1 Billion in the year 2019. Mounts like monopod, bipod, tripod, carriage, fork rest, etc., fall under this segment. Bipods and monopods with their small size, lightness, and mobility will experience aggressive growth. Bipods are well suited for sniper rifles and deliver improved accuracy as lengths can be adjusted. Monopods will typically be deployed for short-barrel and precision guns.
Tripods offer the best stability and employed for anti-tank missile systems, heavy machine guns, recoilless rifles, and grenade launchers. A disadvantage of tripods is being heavy and cumbersome. Carriage mounts are designed for weapons to have special lift arrangements. A rise in the demand from the ground military domain will drive the non-static weapon mounts growth.
Discover more about the principal segments influencing this market
Remotely operated weapon mounts segment is anticipated to register more than 2.5% CAGR through 2020-2026. These mounts find applications in modernized weapon systems as they provide efficient protection to soldiers from enemy firepower. Remote weapon stations are rapidly gaining popularity due to their versatility, effective target engagement, and pinpoint accuracy. These systems are capable of performing dynamic as well as static operations and utilized for ground stationary, ground mobile, and naval platforms on armored vehicles, patrol vehicles, sea vessels, etc.
Remotely operated systems are usually provided with auto tracking features to assist the gunner for continuous target monitoring and accurate shooting on-the-move. Moreover, these are combined with computer-aided systems of software, electro-optic sensors and corresponding accessories such as day camera, night vision camera, range finder, laser marker, beam spotlight, etc., which support overall operational effectiveness in harsh environment and terrain conditions. Low risk of operators and compatibility with varied weapons and armored fighting vehicles will inspire the accelerated expansion of this segment.
Land application segment led the market with more than 85% weapon mounts market share in 2019 and will maintain its leadership until 2026 with territorial & border conflicts, rising terrorist activities, and geostrategic threats. These are making different countries invest in tanks, combat vehicles, armored personnel carriers, and armored infantry vehicles.
Procurements will trigger the demand for coaxial mounts and turrets. Shifting government policies and transforming global politics will alter the landscape of the defense industry, which is sure to boost sales of weapon mounts for ground militaries in close future.
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Weapon Mounts Market Share
The key weapon mounts market participants include
- FN Herstal
- Leonardo S.p.A
- Moog Inc
- Otoker
- Rheinmetall AG
- Rafael Advanced Defense Systems
- Electro Optic Systems
- Elbit Systems
- BAE Systems
These players are adopting various strategies, such as partnerships & collaborations, mergers & acquisitions, product differentiation & development, etc., in search of additional bottom lines.itional bottom lines.
