The weapon mounts are the assembly utilized for holding the weapons, typically the guns. These weapon mounts can be divided into two categories namely, static and non-static mounts.The weapon mounts havetheir application for the mounting different types of military weapons such as machine guns, autocannons, rifles, large-caliber guns, missile launchers, across land, air, and naval platforms. The primary factor driving the adoptions of these mounting solutions by the land, air, and naval based military forces is for the need of more accurate, precise, and rapid firing. Further, the rising political tensions between the countries also drive governments to significantly invest on the military and Défenseindustry. The adoptions of advanced weapons provide an upper hand to the militaries in combating any threat to their territory either from land, air or waterways. Large number of weapon mounts are particularly designed for the land-based, armoured vehicles, and aircrafts which include automatic rifles, machine guns, and gatling Guns installed on them.The increasing demand for highly technological weapons coupled with the growing procurements and modernization program by the military are some of the factors that are booming the growth of the weapon mounts market.
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Market Overview and Dynamics
The weapon mounts market in Europe is expected to grow from US$ 207.7Mn in 2019 to US$ 364.7Mn by 2027; it is estimated to grow at a CAGR of 9.46% from 2020 to 2027.Russia has proven a fertile ground for several industrial cooperation with the leading aircraft manufacturers. The country is one of the leading manufacturers and exporters of defense aircrafts. However, due to a slowing economy, the country’s defense spending declined by around 3.5 percent in 2018 to ~US$61.4 billion, which led to Russia slipping out of the top five defense-spending nations for the first time since 2006. In 2018, according to Russia’s Military Modernization Plans: 2018-2027, Russian government unveiled its plan to modernize its military arsenals. Under this initiative, Russian air forces aimed to receive 160 new aircraft and the army aimed to get 500 new armored vehicles and artillery systems. Thus, increase in procurement of armored vehicles, rotorcraft, machine guns, and aircraft is projected to support the demand for weapon mounts in the today’s time as well as in near future.
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Key Market Segments
In terms of platformtype, theground platformsegment accounted for the largest share of the Europeanweapon mounts marketin 2019. In terms of mount type, the static mount typesegment held a larger market share of theweapon mountsmarketin 2019.
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Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the weapon mountsmarketin Europeare company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report areAEI Systems Ltd, Leonardo Company, FNHerstal, TMIL-systems, and WE Platt, among others.
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