Aug 11, 2020   SOURCE: BusinessWire

Worldwide Weapon Mounts Industry to 2027 - Accentuating Adoption of Armoured Vehicles Presents Opportunities - ResearchAndMarkets.com

The "Weapon Mounts Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Mount Type; Platform; Mode of Operation" report has been added to ResearchAndMarkets.com's offering.

The Weapon mounts market was valued at US$ 1, 026.0 billion in 2019 and is projected to reach US$ 1, 727.0 billion by 2027; it is expected to grow at a CAGR of 8.8% from 2020 to 2027. The stimulating demand for remote weapon stations and increasing military expenditureare some of the key driving factors for global weapon mounts market. Moreover, accentuating adoption of armored vehiclesis anticipated to drive the growth of weapon mounts market during the forecast period.

However, stability issues and heavy weight of solider portable mountsmay hinder the growth of the market. The growth in asymmetric warfare is propelling the military forces to opt for easy and convenient traversing capability. Owing to this, the demand for armored personnel carriers (APC) and light armored vehicles (LAV) is continuously up surging in the current scenario. The demand for easy maneuverability and increasing military budgets year on year has been reflecting increased attraction for armored vehicles among the military forces.

Another factor gaining attraction of military forces towards armored vehicles is the capability to combat cross-border conflicts. The manufacturers of armored vehicles are integrating their vehicles with advanced technologies, including sensors, countermeasure systems, command and control systems (C2), weapon mounts, and fire control systems. Pertaining to the fact that the armored vehicles are capable of carrying machine guns, rocket launchers, the demand for weapon mounts on armored vehicles is accentuating rapidly, which is supporting the growth of weapon mounts market.

The market for weapon mounts is segmented into mount type, platform, mode of operation, and geography. Based on mount type, the weapon mounts market is segmented into static mount and non-static mount. In 2019, the non-static mount segment held the largest share of global weapon mounts market. Based on platform, the weapon mounts market is segmented into ground, naval, and airborne. Naval based platforms are expected to be the fastest growing segment during the forecast period. Based on mode of operation, the market is segmented into manned and remotely operated.

The manned segment contributed a substantial share in 2019 and remotely operated segment is projected to be the fastest growing mode of operation during the forecast period. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South America (SAM). North America held the major share of the market in 2019 and is expected to continue its dominance till 2027.

Reasons to Buy

  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the weapon mounts market, thereby allowing players to develop effective long term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to mount type, platform and mode of operation

Market Dynamics

Drivers

  • Stimulating Demand for Remote Weapon Stations
  • Increasing Military Expenditure

Restraint

  • Stability Issues and Heavy Weight of Solider Portable Mounts

Opportunity

  • Accentuating Adoption of Armoured Vehicles

Future Trends

  • Continuous Focus on Development of Robust Mounting Solutions

Companies Mentioned

  • AEI Systems Ltd
  • CRSystems Inc.
  • Engine Engineering Company
  • FN Herstal
  • Troy Products
  • Leonardo
  • Istec Services Ltd
  • Military Systems Group, Inc
  • TMIL-systems
  • WE Platt

For more information about this report visit https://www.researchandmarkets.com/r/dy6295