Weapon Mounts Market size was over USD 1.41 billion in 2023 and is anticipated to exceed USD 3.36 billion by the end of 2036, growing at over 6.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of weapon mounts is evaluated at USD 1.49 billion.
on the back of increasing procurement programs for armored vehicles, naval ships, and aircrafts, and rising demand for remote weapon stations for military applications by several countries around the globe. Along with these, growing need of mounts in navy, escalating use of unmanned vehicles in the war zone, increase in military investments and surging security measures worldwide are also expected to fuel market growth in the coming years. It was calculated the global military expenditure reached a value of approximately USD 2 billion by the end of 2019. Furthermore, intensifying innovations by key market players is estimated to offer lucrative opportunities to the market over the forecast period.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
6.9% |
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Base Year Market Size (2023) |
USD 1.41 billion |
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Forecast Year Market Size (2036) |
USD 3.36 billion |
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Regional Scope |
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The market is segmented by mount types into static, turret, coaxial, fixed pintle/pedestal, RWS, swing arm, monopods, bipods, and tripods, out of which the static segment is evaluated to hold the largest share during the forecast period. This can be credited to the increment in number of platforms where static mount can be placed and the rising modernization of naval fleet. Apart from these, growing demand for static mounts on ground operations and vehicles is also assessed to drive growth of this segment in the future. Furthermore, the man operated segment of the mode of operations segment is projected to constitute for a larger share in the market on account of an increase in demand of armories such as machine guns, sniper rifles, and automatic rifles by the military globally.
Our in-depth analysis of the global market includes the following segments:
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By Mount Type |
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By Platform |
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By Mode of Operation |
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On the basis of geographical analysis, the weapon mounts market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific industry is likely to dominate majority revenue share by 2036, owing to augmented demand for weapon mounts for ground, airborne and naval platforms. In addition to this, different 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 which supports the development of the market in the near future. Moreover, Europe is also estimated to garner significant market share during the forecast period, which can be attributed to the increasing defense investments in countries such as Germany, Russia and France.
Author Credits: Dhruv Bhatia
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