As per a Global Market Insights, Inc., research report, weapon mounts market is slated to surpass a $2 billion valuation by 2026. The weapon mounts market is projected to foresee commendable growth in coming years owing to the increasing procurement of new and latest weapon systems. Advancements in the field of weapon mounts technology will further play a crucial role in enhancing the operational characteristics of armaments.
Weapon mounts help to meet the requirements of a modern defense personnel, giving these weapon systems more flexibility and maneuverability. Modular weapon mounting system also offers increased security and fast accessibility, which is favoring their adoption.
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How are industry players contributing toward increasing weapon mounts market share?
With the surging development of advanced weapons, the demand for mounts is likely to increase, to hold these weapons. Citing an instance, in June 2020, Leonardo DRS, a renowned defense contractor company, reportedly announced that their counter-drone experts would develop, build, and deploy a military vehicle-mounted weapon for detecting, disabling or destroying small UAVs such as commercial quadcopters which are functioning as airborne IEDs.
The officials of the U.S. Army Contracting Command at Redstone Arsenal, Ala., also announced a 5-year contract worth $189.8 million to the Leonardo DRS land Systems segment located in St. Louis. The contract is mainly for building and supporting the M-LIDS.
Which application segment is anticipated to showcase momentous growth over the forecast timeframe?
In terms of application, the sea weapon mount segment is likely to reach a valuation of approximately $40 million by the end of the analysis timeline. Nations are increasingly procuring submarines, patrol crafts, corvettes, frigates, and destroyers, thereby supporting their naval defense mechanisms, which will boost the demand for weapon mounts over the coming years.
Several countries are considering reinforcing maritime capability, which would help in strong growth of the naval defense sector. Sea-based applications are also expected to increase because of the rising terrorist activities, surging maritime territorial conflicts, and smuggling, that are expected to support the industry in the estimated time period.
How would remotely-operated mounts drive the weapon mounts industry revenues over the coming years?
With respect to mode of operation, the remotely operated segment will hold a substantial share of nearly 25% over the forecast time period. This anticipated growth is ascribed to the fact that these weapon mounts provide supreme importance to operators’ safety. Remotely operated weapon mounts could further handle a wide array of weapons with better target control and high precision.
Presently, RWS deployed on air, land, sea-based combat platforms are highly being utilized. This has considerably augmented the weapon mounts demand. Among others, the Naval remote weapon system is mainly responsible for creating a substantial product demand, especially for custom designed units that can be used under harsh sea conditions and can be mounted on ships or vessels.
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Which aspects would emerge as primary growth facilitators for the weapon mounts market in Europe?
On the geographical front, weapon mounts market in Europe will witness nearly 2% CAGR through the forecast time period due to increasing cooperation between EU members for the development of armaments. U.S. being a main supplier is likely to face competition from European suppliers over the coming years. In fact, countries like the United Kingdom, Italy, the Netherlands, Denmark, and Belgium are expected to procure vast deliveries of anti-submarine warfare aircrafts and combat aircrafts in the future.
In addition, countries in Central and Northern Europe have started major military procurement programs because of increasing conflicts with Russia. These trends are further projected to support the regional market growth.
Moog Inc., Kongsberg Defense & Aerospace, Rafael Advanced Defense Systems, ST Engineering, Elbit Systems Ltd., Rheinmetall AG, Electro Optic Systems, and Saab AB among many others are some of the key players operating in the weapon mounts market.
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