Stimulating Demand for Remote Weapon Stations to lead weapon mounts market growth at 8.9% CAGR during 2019-2027
According to our latest market study on “Global Weapon Mounts Forecast to 2027- COVID-19 Impact and Global Analysis by Type (Static Mount, Non-Static Mount); Platform (Ground, Naval, Airborne); Mode of Operation (Manned, Remotely Operated); and Geography,” The market was valued at US$ 1026.0 million in 2019 and is projected to reach US$ 1727.0 million by 2027; it is expected to grow at a CAGR of 8.9% from 2020 to 2027.
The report highlightskey factorsdriving the market growth, and prominent players and their developmentsin themarket.
The weapon mounts are theassembly utilized for holding the weapons, typically guns. These weapon mountscan be divided into two categories namely, static and non-static mounts. Theweapon mounts have their application for mounting different types of militaryweapons such as machine guns, auto cannons, rifles, large-caliber guns, missilelaunchers, across land, air, and naval platforms. The primary factor drivingthe adoptions of these mounting solutions by the land, air, and naval basedmilitary forces is for the need of more accurate, precise, and rapid firing.Further, the rising political tensions between the countries also drivegovernments to significantly invest on the military and Defense industry. Theadoptions of advanced weapons provide an upper hand to the militaries incombating any threat to their territory either from land, air, or waterways.Large number of weapon mounts are particularly designed for the land-based, armoredvehicles, and aircrafts which include automatic rifles, machine guns, andgatling guns installed on them. The increasing demand for technological weaponscoupled with the growing procurements and modernization program by the militaryare some of the factors that are booming the growth of the weapon mountsmarket.
The stimulating demand forremote weapon stations and increasing military expenditure are some of the keydriving factors for global weapon mounts market. However, stability issues andheavy weight of solider portable mounts may hinder the growth of the market insome applications. Despite some limitations, the accentuating adoption ofarmored vehicles and continuous focus on development of robust mountingsolutions are anticipated to drive the growth of weapon mounts market duringthe forecast period.
AEI Systems Ltd, CRSystemsInc., Engine Engineering Company, FN HERSTAL, Troy Products, Leonardo, ISTECSERVICES LTD, Military Systems Group, Inc., TMIL-systems, and WE Platt are someof the well-established players present in the global weapon mounts market.
COVID?19 Impact on WeaponMountsMarket
The recent outbreak of the COVID-19has significantly affected the world and is continuing to shatter severalcountries. Until the outbreak of COVID-19, the defense industry wasexperiencing substantial growth in terms of production and services; however,the outbreak of the COVID-19 has been reflecting tremendously disrupted supplychain and manufacturing of defense equipment. The defense manufacturing industryis heavily dependent on manual labor. In the wake of strong lockdownregulations imposed by the majority of the countries across the globe, thedefense equipment manufacturing sector is experiencing a significantly lowernumber of labors in respective manufacturing facilities. Major defense spendersallocate close to or over 2% of their GDP, a significant amount, to defense.However, several governments are deprioritizing defense spending, owing to theemergence of pandemic; instead, a majority of the governments are focusing oninvesting on combatting the spread of virus. This factor is also anticipated toweaken the production of defense equipment during 2020, thereby hindering thegrowth of weapon mounts market.Weapon mounts Market Breakdown?by Region, 2019
Weapon Mounts Market Forecast to 2027 - Covid-19 Impact and Global Analysis - by Mount Type (Static Mount, Non-Static Mount); Platform (Ground, Naval, Airborne); Mode of Operation (Manned, Remotely Operated) and Geography
Weapon Mounts Market Share, Trends, Outlook By 2027
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The report segmentsthe global weaponmountsmarket as follows:
By MountType
- Static Mount
- Non-StaticMount
By Platform
- Ground
- Vehicle-Mounted
- FixedInstallation
- DismountedSoldiers
- Naval
- AircraftCarriers
- Destroyers
- Frigates
- Corvettes
- Offshore PatrolVessels
- Airborne
- Combat Aircraft
- AttackHelicopters
- Special MissionAircraft
By Mode ofOperation
- Manned
- RemotelyOperated
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia Pacific(APAC)
- China
- India
- Japan
- South Korea
- Rest of APAC
- Middle East &Africa(MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America(SAM)
- Brazil
- Argentina
- Rest of SAM
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