Chicago, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The Weapon Mounts Market by Mount Type (Turret, Coaxial, Fixed, Pintle/Pedestal, RWS, Swing Arm, Monopods, Bipods, Tripods), Platform (Ground, Naval, Airborne), Mode of Operation, Weapon Compatibility, and Geography", Some factors that are expected to fuel the demand for weapon mounts are the increased procurement and modernization programs by militaries globally and the demand for remote weapon stations and turrets for armored vehicles and naval ships, among others
Weapon Mounts Key Market Players
The Weapon Mounts Companies is dominated by globally established players such as
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Kongsberg Gruppen (Norway),
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Raytheon Company (US),
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Elbit Systems (Israel),
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Saab AB (Sweden),
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BAE Systems (UK),
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Dillion Aero (US),
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AEI Systems Ltd. (UK),
Based on platform, the naval segment is projected to lead the weapon mounts market during the forecast period.
Based on platform, the market is projected to be led by the naval segment, This segment is expected to grow during the forecast period due to factors such as the continual upgrades of weapon systems on ships such as destroyers, frigates, and corvettes, among others. Additionally, the procurement of new battleships by countries such as India, China, the US, and Saudi Arabia, among others, is also driving the market for naval weapon mounts.
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The static mounts segment is projected to lead the weapon mounts market
Based on mount type, the static mounts segment is projected to lead the weapon mounts market during the forecast period. The high demand for remote weapon stations is a key contributor to the growth of this segment. Demand for remote weapon stations can be attributed to the significant investments made by countries such as the US, Saudi Arabia, India, China, and South Korea to upgrade their armored vehicles fleet to include remote weapon stations.
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Asia Pacific is projected to be a high growth market for weapon mounts during the forecast period.
The weapon mounts market in Asia Pacific is projected to grow at the highest CAGR during the forecast period. Various border disputes between countries such as China, India, Pakistan, Afghanistan, North Korea, and South Korea, among others, are driving these countries to increase their investment in defense technology, which includes the procurement of armored vehicles, combat aircraft, naval ships, and weapons for soldiers, among others.