New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Weapon Mounts Global Market Report 2023" - https://www.reportlinker.com/p06479771/?utm_source=GNW
, Saab AB, BAE Systems plc, FN Herstal S.A., Denel Vehicle Systems (Pty) Ltd., General Dynamics Ordnance and Tactical Systems Inc., Moog Inc., and Otoker Otomotiv ve Savunma Sanayi A.S.
The global weapon mounts market is expected to grow from $1.37 billion in 2022 to $1.48 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The weapon mounts market is expected to reach $1.96 billion in 2027 at a CAGR of 7.3%.
The weapon mounts market consists of sales of static mounts and non-static mounts.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A weapon mount refers to a weapon component that is used for securing an armament, a weapons and equipment used by armed forces. These mounts are designed to secure and support firearms, usually guns, onto a specific platform to optimize their performance and enable efficient use.
Asia-pacific was the largest region in the weapon mounts market in 2022. The regions covered in weapon mounts report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main platforms of weapon mounts are ground, naval, and airborne.Ground refers to a ground-based platform that has a stable surface or structure on the ground that can be used as support for various types of equipment or systems.
The various operations that weapon mounts supports are manned and remotely operated, that are applicable in national defense, security, business performance, and others.
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 2020, according to the Stockholm International Peace Research Institute’s (SIPRI) report on "Trends in World Military Expenditure 2020", a Sweden-based international research institute, the global estimated military expenditure in 2020 was $1981 billion, 2.6% increase in real terms compared to the previous year. Similarly, the United States’ military expenditure was 4.4% higher in 2020 than in 2019, 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 in April 2020. 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.
In May 2021, Teledyne Technologies, a US-based company that specializes in providing electronic and communication products and services acquired FLIR Systems for $8 billion.The acquisition allows Teledyne to expand its portfolio of imaging and sensor solutions and provides opportunities for cross-selling to FLIR’s customer base.
FLIR Systems is a US-based manufacturer of thermal vision weapon mounted systems, thermal imaging cameras, night vision systems, and other sensing technologies.
The countries covered in the weapon mounts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The weapon mount market research report is one of a series of new reports that provides weapon mount market statistics, including weapon mount industry global market size, regional shares, competitors with an weapon mount market share, detailed weapon mount market segments, market trends and opportunities, and any further data you may need to thrive in the weapon mount industry. This weapon mount market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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