PUBLISHER: The Business Research Company | PRODUCT CODE: 1414681
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414681
“Weapon Mounts Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on weapon mounts market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for weapon mounts? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The weapon mounts market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A weapon mount is a component utilized to secure armaments, including weapons and equipment used by armed forces. These mounts serve the purpose of securing and supporting firearms, typically guns, onto specific platforms to optimize their performance and facilitate efficient use.
Weapon mounts are primarily categorized into ground, naval, and airborne platforms. Ground platforms are situated on stable surfaces or structures on the ground, providing support for various types of equipment or systems. These mounts support both manned and remotely operated operations, finding applications in areas such as national defense, security, business performance, and other relevant contexts.
The weapon mount market research report is one of a series of new reports from The Business Research Company that provides weapon mount market statistics, including weapon mount industry global market size, regional shares, competitors with an weapon mount market share, detailed weapon mount market segments, market trends and opportunities, and any further data you may need to thrive in the weapon mount industry. This weapon mount market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The weapon mounts market size has grown strongly in recent years. It will grow from $1.48 billion in 2023 to $1.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The historical period's growth can be ascribed to military modernization programs, a rise in defense budgets, emphasis on infantry mobility, heightened global security threats, special forces operations, and considerations related to urban warfare.
The weapon mounts market size is expected to see strong growth in the next few years. It will grow to $2.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be credited to progress in fire control systems, emphasis on modular weapon platforms, energy-efficient weapon mounts, a rising demand for non-lethal alternatives, and improved durability and reliability. Notable trends expected in the forecast period encompass integration with unmanned systems, modular and versatile designs, the adoption of remote weapon station (RWS) technology, enhanced stabilization systems, and the incorporation of smart technologies.
The anticipated growth in the weapon mounts market is expected to be driven by increased procurement and modernization programs undertaken by militaries. These programs encompass the strategies and tactics employed by military organizations to acquire new weapons, equipment, and technologies, enhancing their operational capabilities. Weapon mounts, commonly used to securely attach firearms such as machine guns to various ground platforms, play a crucial role in providing stability and accuracy during military operations. For instance, as reported by the Stockholm International Peace Research Institute (SIPRI) in April 2022, the global estimated military expenditure in 2020 reached $2,113 billion, indicating a 0.7% increase in real terms compared to the previous year. The United States' military expenditure in 2021 amounted to $801 billion, reflecting a focused investment in research and development, including projects such as the modernization of the US nuclear arsenal, large-scale arms procurement, and the modification of the National Congress of Chile budget plan, redirecting $936 million for the modernization of the country's F-16 fighter jet fleet. Consequently, the increased emphasis on procurement and modernization programs by militaries is a key driver of the anticipated growth in the weapon mounts market.
The expected growth in the weapon mounts market is also attributed to the ongoing modernization of warships. Warships, designed and built specifically for combat and naval warfare, are crucial assets owned and operated by the armed forces of nations to protect maritime interests and counter threats at sea. The evolving landscape of naval warfare necessitates continuous advancements in warship design and capabilities, driving demand for innovative weapon mount systems. For example, the United States Department of Defense reported in December 2021 that the US Navy announced five-year contracts worth $1.74 billion for procuring maintenance, repair, and modernization services for non-nuclear surface combatant and amphibious ships. This underscores the significance of growing modernization efforts across various fleets, contributing to the increased demand for advanced weapon mount systems.
Advancements in technology emerge as a prominent trend gaining traction in the weapon mounts market, with companies actively introducing cutting-edge LED technology products to maintain their market standing. For instance, Aimpoint, a Sweden-based company renowned for high-quality red dot sights, launched the Acro P-2 Pistol Mounted Optic in May 2021. This next-generation red dot sight incorporates an enhanced LED emitter and a higher capacity CR2032 battery, delivering an impressive 50,000 hours of constant-on power, or five years. The result is faster and more accurate target acquisition for users, featuring a 3.5 MOA dot that is brighter. While primarily designed for handguns, the Acro P-2 exhibits versatility by being mountable on carbines, shotguns, rifles, and can serve as a backup sight on magnified scopes and thermal imagers.
Major players in the weapon mount market are strategically focusing on the development of innovative high-performance products, including versatile weapon mounts, to secure a competitive edge. A versatile weapon mount is a system engineered to hold and operate multiple weapons from a single platform. FabriqueNationale Herstal, a Belgium-based weapons manufacturer, introduced the FN MWM in September 2023-a versatile weapon mount designed for both land and sea platforms. Featuring a hydraulic buffer system to minimize recoil effects on the platform and the operator, the FN MWM ensures optimal weapon performance under various circumstances and firing angles. Remarkably, it operates entirely mechanically, eliminating the need for electrical power from the carrier. The mount includes various options such as shoulder bars, ballistic protection, links and cases collectors, and weapon-specific adaptors.
In May 2021, Teledyne Technologies, a US-based provider of electronic and communication products and services, completed the acquisition of FLIR Systems for $8 billion. This strategic move allows Teledyne to broaden its portfolio of imaging and sensor solutions and offers opportunities for cross-selling to FLIR's customer base. FLIR Systems, a US-based manufacturer specializing in thermal vision weapon-mounted systems, thermal imaging cameras, night vision systems, and other sensing technologies, further strengthens Teledyne's capabilities in the evolving technological landscape.
Major companies operating in the weapon mounts market report are Dillon Aero Inc., AEI Systems Limited, Military Systems Group Inc., Leonardo S.p.A., Rafael Advanced Defense Systems Ltd., Rheinmetall AG, Kongsberg Gruppen ASA, Raytheon Technologies Corporation, Elbit Systems Ltd., Saab AB, BAE Systems plc, FN Herstal S.A., Denel Vehicle Systems (Pty) Ltd., General Dynamics Ordnance and Tactical Systems Inc., Moog Inc., Otoker Otomotiv ve Savunma Sanayi AS, Thales Group, Lockheed Martin Corporation, Northrop Grumman Corporation, AeroVironment Inc., FLIR Systems Inc., Esterline Technologies Corporation, Curtiss-Wright Corporation, Meggitt plc, Cobham plc, Harris Corporation, L3 Technologies Inc., Trijicon Inc., Aimpoint AB, American Defense MFG LLC
Asia-pacific was the largest region in the weapon mounts market in 2023. The regions covered in the weapon mounts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the weapon mounts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The weapon mounts market consists of sales of static mounts and non-static mounts. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.