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Weapon Mounts Market Trends Analysis, Market Opportunities, Key Players, Share And Forecast To 2033
Weapon Mounts Market Trends Analysis
According to The Business Research Company's, 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 growth in the historic period can be attributed to military modernization programs, increase in defense budgets, focus on infantry mobility, rise in global security threats, special forces operations, urban warfare considerations.
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 growth in the forecast period can be attributed to advancements in fire control systems, focus on modular weapon platforms, energy-efficient weapon mounts, increasing demand for non-lethal options, enhanced durability and reliability. Major trends in the forecast period include integration with unmanned systems, modular and versatile designs, remote weapon station (rws) technology, enhanced stabilization systems, integration of smart technologies.
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Market Drivers and Trends:
The increased procurement and modernization programs by militaries are expected to propel the growth of the weapon mounts market going forward. Procurement and modernization programs refer to the methods and tactics employed by military organizations to obtain new weapons, equipment, and technologies that fulfill their operational requirements and bolster their mission capabilities. Weapon mounts are commonly used by militaries to securely attach firearms, such as machine guns to various ground platforms. They allow for greater stability and accuracy when firing, making them essential for military operations. For instance, in April 2022, according to the Stockholm International Peace Research Institute's (SIPRI) report on Trends in World Military Expenditure 2021, a Sweden-based international research institute, the global estimated military expenditure in 2020 was $2113 billion, 0.7% increase in real terms compared to the previous year. Similarly, the United States' military expenditure was $801 billion in 2021, primarily due to a focused investment in research and development and the implementation of various long-term projects such as the modernization of the US nuclear arsenal, large-scale arms procurement, and the modification of National Congress of Chile budget plan, that redirected $936 million for the modernization of the country's F-16 fighter jet fleet. Therefore, the increased procurement and modernization programs by militaries is driving the growth of weapon mounts market going forward.
Advancements in technology are a key trend gaining popularity in the weapon mounts market. Companies operating in the weapon mounts market are launching advanced LED technology products to sustain their position in the market. For instance, in May 2021, Aimpoint, a Sweden-based company that specializes in producing high-quality red dot sights for firearms, launched Acro P-2 Pistol Mounted Optic, a high-tech red dot sight. It has a next-generation sight that features an enhanced LED (Light Emitting Diode) emitter and a higher capacity CR2032 battery, providing 50,000 hours of constant-on power, or five years. This results in faster and more accurate target acquisition for the user. The newly implemented LED technology results in a 3.5 MOA dot that is brighter in comparison. The Acro P-2 has been designed primarily for use on handguns; however, it is versatile enough to be mounted on carbines, shotguns, and rifles as well. Furthermore, it can be employed as a backup sight on magnified scopes and thermal imagers.
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Major Key Players of the Market:
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
Weapon Mounts Market 2024 Key Insights:
• The weapon mounts market will grow to $2.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Rising Military Investment And Modernization Initiatives Fuel Growth In The Weapon Mounts Market
• Revolutionizing Firearm Technology
• Asia-pacific was the largest region in the weapon mounts market in 2023
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