Gmi Research's blog : Weapon Mounts Market size, trends & Growth
The Weapon Mounts Market is estimated to grow at a robust CAGR over the forecast period (2020-2027).
The factors driving growth of the Weapon Mounts Market includes rise in the number of terrorism related activities around the world, increase in Government’s expenditure on the defense budget, growing focus on modernizing naval platforms and improvements in the living standards. For instance, the defense budget allocated by the Government of India has risen from INR 4.78 lakh crore FY2021-2022 to INR 5.25 lakh crore during FY 2022-23 to Rs 5.25 lakh crore, which is expected to accelerate the Weapon Mounts Market Size in the approaching years. Moreover, increasing geo-political tensions and cross-border conflicts, growing procurement of rotorcraft, aircraft, and armored vehicles, by militaries, rising adoption of advanced technologies by manufacturers and rapid urbanization, are some of the additional factors supplementing the Weapon Mounts Market share. In addition, the increasing investments by leading players on research and development, rapid growth in defense manufacturing across the globe, strategic partnerships between companies and growing disposable incomes, are further contributing towards the market growth.
However, growth of the Weapon Mounts Market is hindered attributed to stability and weight issues related to portable types.
The leading players operating in the market are Crsystems Inc., Ohio Ordnance Works, Inc., Dillon Aero, Military Systems Group, Inc., AEI Systems Ltd., KNDS, Capco LLC., Leonardo S.P.A., Fjord Defense AS and FN Herstal, among others.
Based on Mount Type, the Static Mounts segment is predicted to grow at a significant CAGR during the forecast period attributed to growing demand for static mounts such as turrets and coaxial mounts
Growing adoption of aircrafts and machine guns by militaries across the globe, is pushing growth of the segment.
Based on Platform, the Naval segment is projected to expand at a remarkable CAGR over the forecast period
Rising focus on modernizing naval platforms and growing geo-political tension in the South China sea and Indian ocean, are propelling growth of the segment.
Based on Region, the Asia-Pacific region is projected to capture the largest market share during the forecast period
As per the Weapon Mounts Market Research Report, rise in Government’s budget on the defense sector, rise in the number of defense start-ups, rapid industrialization, increasing per capita incomes and high population rate, are driving the market growth in the Asia-Pacific region.
Key Development
- In 2019, Military Systems Group, Inc., extended its Davidson country operations. Through this expansion, the company aimed to enlarge its design, engineering, production, machining, and assembly operations to meet the increasing demand and enhance its capacity.
Market Segmentation
Segmentation by Mount Type
- Static Mounts
- Coaxial Mounts
- Turrets
- Pintles/Pedestals
- Fixed Mounts
- Remote Weapon Stations
- Swing Arm Mounts
- Non-Static Mounts
- Monopods
- Bipods
- Tripods
Segmentation by Platform
- Naval
- Destroyers
- Aircraft Carriers
- Frigates
- Offshore Patrol Vessels (OPV)
- Corvettes
- Ground
- Fixed Installation
- Vehicle-Mounted
- Infantry Fighting Vehicles (IFV)
- Main Battle Tanks (MBT)
- Armored Amphibious Vehicles (AAV)
- Others
- Dismounted Soldiers
- Airborne
- Attack Helicopters
- Combat Aircraft
- Special Mission Aircraft
Segmentation by Mode of Operation
- Remotely Operated
- Manned
Segmentation by Weapon Capability
- Automatic Cannons
- Machine Guns
- Light Machine Guns (LMG)
- Medium Machine Guns (MMG)
- Heavy Machine Guns (HMG)
- Automatic Rifles
- Sniper Rifles
- Gatling Guns
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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