Dublin, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The "Remote Weapon Station Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Component (Payload, Sensors, Human Machine Interface (HMI), Fire Control Station and Others), By Platform, By Weapon Type, By Mobility, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global remote weapon station market size is anticipated to grow and register an impressive CAGR in the forecast period, 2023-2027
Increased demand for remote weapon stations in close-combat situations and the rise in political and regional conflicts and cross-border tensions across the globe are the primary drivers for the global remote weapons station market.
Also, the ongoing military modernization programs, research and development activities, and development of connected warfare systems are expected to create lucrative growth opportunities for the market players in the forecast period.
Use of Advanced Technologies by Defense Sector Drives the Market Demand
There is a rise in the tension between the countries due to the growing incidence of cross-border conflicts and internal disputes.
The constant threat to civilian and defense assets around the globe is making them upgrade their existing defense infrastructure. Government authorities have increased their defense spending to modernize their army and equip it with advanced technologies, weapons, and equipment to face any situation.
Also, the surge in the use of unmanned aerial vehicles by the enemies for monitoring and surveillance activities in other countries has compromised the army locations and their strategies. Countries are using remote weapon systems in conflict-prone areas and areas where there is a higher risk to the lives of defense personnel to counter such situations.
Advanced remote weapon stations can be fitted into the older versions of the military vehicles, which increases the performance and the ability to cause maximum damage on the battlefield. Therefore, the rise in the awareness about the benefits of using remote weapon stations and the launch of their advanced versions are expected to fuel the market demand in the next five years.
High Demand for Military Applications Propels the Market Demand
The world military expenditure passed $2 trillion for the first time in 2021, according to the study conducted by Stockholm International Peace Research Institute (SIPRI). It increased by 0.7 percent in real terms and reached $2113 billion.
Also, according to the report, the top defense expenditure countries were the United States, China, India, the United Kingdom, and Russia. Together, these countries accounted for 62 percent of the expenditure. The rise in military spending is due to the increasing political instabilities, geopolitical tensions, and economic inequality issues.
Several countries in the major reasons like North America and Europe have adopted military modernization programs due to changing warfare technologies and make the country ready to counter combat situations. There is an increase in the demand for armored vehicles and main battle tanks across countries which in turn boosts the demand for remote weapon stations as they are mounted on these vehicles.
The growing deployment of modern tanks and infantry fighting vehicles across the developing countries are expected to accelerate the demand for advanced remote weapon stations equipped with advanced sensors and fire control systems. Therefore, the rise in defense expenditure in countries is expected to bolster the remote weapon station market share for the next five years.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global remote weapon station market.
- Singapore Technologies Engineering Ltd.
- Kongsberg Defence Systems
- Elbit Systems Land and C4I Ltd.
- Kollmorgen
- Leonardo S.p.A.
- General Dynamics Ordnance and Tactical Systems
- Moog Inc.
- Electro Optic Systems Pty Ltd.
- Saab AB
- MERRILL
Report Scope:
Remote Weapon Station Market, By Component:
- Payload
- Sensors
- Human Machine Interface (HMI)
- Fire Control Station and Others
Remote Weapon Station Market, By Platform:
- Land
- Naval
- Airborne
Remote Weapon Station Market, By Weapon Type:
- Lethal Weapon
- Non-Lethal Weapon
Remote Weapon Station Market, By Mobility:
- Stationary
- Moving
Remote Weapon Station Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Thailand
- Indonesia
- Australia
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- Netherlands
- Russia
- Poland
- South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- Iran
- Israel
- UAE
- Turkey
For more information about this report visit https://www.researchandmarkets.com/r/otkkr5-weapon?w=12
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