New York, United States , Sept. 06, 2024 (GLOBE NEWSWIRE) -- The Global Aircraft Weapons Market Size to Grow from USD 10.7 Billion in 2023 to USD 21.6 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.28% during the forecast period.
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The aircraft weapons market is expanding rapidly, spurred by rising defence budgets and modernisation initiatives around the world. Rising geopolitical tensions and military breakthroughs are driving nations to improve their aerial combat capabilities. The market encompasses a diverse spectrum of items, such as missiles, bombs, and guns fitted into a variety of aircraft platforms, including fighter planes, helicopters, and UAVs. Precision-guided munitions and autonomous systems are examples of technological breakthroughs that improve the effectiveness and accuracy of these weapons. Furthermore, the integration of improved sensors and targeting systems is driving market growth. North America and Asia-Pacific are crucial regions, with significant investments coming from the United States, China, and India. The market's expansion is also aided by ongoing research and development initiatives focused on next-generation weapon systems.
Browse key industry insights spread across 202 pages with 110 Market data tables and figures & charts from the report on the "Global Aircraft Weapons Market Size, Share, and COVID-19 Impact Analysis, By Aircraft Type (Fixed-Wing Aircraft, Rotary-Wing Aircraft, Unmanned Aerial Vehicles (UAVS)), By End User (Military, Army, Navy, Civilian, Security Agencies), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033."
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Insights by Aircraft Type
The fixed wing aircraft segment accounted for the largest market share over the forecast period 2023 to 2033. Nations are investing in modernising their air forces to preserve air superiority and handle changing security concerns. This includes providing fixed-wing platforms with cutting-edge armament systems such as precision-guided munitions, long-range missiles, and superior electronic warfare capabilities. The development and deployment of fifth and sixth-generation fighters, such as the F-35 and future combat air systems, are critical to this increase. Furthermore, the incorporation of cutting-edge technologies such as stealth, hypersonics, and AI-driven systems improves the lethality and efficacy of fixed-wing aircraft. Increased defence spending and strategic initiatives around the world are also helping to drive this segment's growth.
Insights by End Use
The military segment accounted for the largest market share over the forecast period 2023 to 2033. As global threats grow, countries prioritise the modernisation of their military forces, with a particular emphasis on improving aerial strike capabilities. This includes acquiring sophisticated armaments for fighter jets, bombers, and unmanned aerial vehicles (UAVs). Precision-guided weapons, hypersonic missiles, and smart bombs are in high demand due to their superior accuracy and efficiency in combat. The development of next-generation military aircraft, such as stealth fighters and multi-role platforms, drives this expansion. Furthermore, regional tensions and strategic military alliances are driving increased investment in cutting-edge aircraft weaponry, reinforcing the military segment's market dominance.
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Insights by Region
North America is anticipated to dominate the Aircraft Weapons Market from 2023 to 2033. The U.S. military’s focus on maintaining air superiority and modernizing its arsenal is a key factor fueling demand for advanced weapon systems, including precision-guided munitions, stealth technology, and hypersonic missiles. The region is home to leading defense contractors like Lockheed Martin, Raytheon Technologies, and Northrop Grumman, which play a pivotal role in developing and supplying cutting-edge aircraft weaponry. Additionally, ongoing research and development efforts, supported by significant government funding, are propelling innovation in the sector. The presence of robust infrastructure for testing and integration further strengthens North America's position in the market. Canada’s defense initiatives also contribute, though on a smaller scale.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. Rising geopolitical tensions, particularly in the South China Sea and along the India-Pakistan border, are driving these countries to spend substantially in modern weaponry, such as precision-guided bombs, stealth technology, and next-generation missile systems. China's ambitious military growth and indigenous development programs stand out, establishing it as a prominent competitor in the global market. India is also improving its air defence capabilities through procurement and local production activities under the "Make in India" campaign. Regional collaborations, joint ventures, and technology transfers are accelerating market expansion, making Asia-Pacific a top priority for defence contractors worldwide.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Key Vendors in Global Aircraft Weapons Market Boeing Company, General Dynamics, Northrop Grumman, SAAB, Thales Group, Lockheed Martin, MDBA, and Others Key Vendors.
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Recent Market Developments
- In January 2023, India has declared intentions to spend $552 million on air defence and naval weapons.
Major players in the market
- Boeing Company
- General Dynamics
- Northrop Grumman
- SAAB
- Thales Group
- Lockheed Martin
- MDBA
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Aircraft Weapons Market, Aircraft Type Analysis
- Fixed-Wing Aircraft
- Rotary-Wing Aircraft
- Unmanned Aerial Vehicles (UAVS)
Aircraft Weapons Market, End User Analysis
- Military
- Army
- Navy
- Civilian
- Security Agencies
Aircraft Weapons Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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