Selbyville, Delaware, March 05, 2024 (GLOBE NEWSWIRE) -- Aircraft Weapons Market is projected to generate over USD 20.5 billion during 2023-2032, as per a recent study by Global Market Insights Inc.
The increasing defense budgets globally is a major growth driver for the industry. As countries face growing security threats and geopolitical rivalries, there is a pressing need to enhance defense capabilities to ensure national security and strategic deterrence. This has led to a significant uptick in defense spending, with governments prioritizing investments in advanced aircraft weapons systems. For instance, according to a news article by Carnegie Europe in 2024, defense tops the policy agenda in European capitals, with varying levels of urgency. With increasing threat from Russia and U.S. push for independence in defense capabilities, many EU nations, including the Nordic countries are bound to focus more on their military strength. These investments aim to modernize military fleets, strengthen operational readiness, and maintain military superiority in an increasingly complex and competitive international security environment, thereby raising the bar for innovation in aircraft weapons, driving the growth chart upwards.
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Modernization and precision in rotary-wing aircrafts
The Aircraft weapons market size from rotary-wing aircraft segment is poised to gain significant traction through 2032, owing to its vitality in military operations, versatility, agility, and firepower for various missions, including reconnaissance, troop transport, and close air support. Rotary-wing aircrafts, such as helicopters and tiltrotors, are equipped with a wide range of weapons systems, including machine guns, rockets, and anti-tank missiles, to engage ground and aerial targets effectively. With modernization of rotary-wing fleets by defense forces to meet evolving operational requirements, a demand surge in the segment is expected.
Air superiority and combat readiness with air-to-air weapons
The Aircraft weapons market share from air-to-air weapons segment is anticipated to gain prominence during the study period, as they are essential for aerial combat and air superiority missions, enabling fighter aircraft to engage and neutralize enemy aircraft threats. These weapons encompass a variety of missile systems, including short-range and beyond-visual-range missiles, as well as air-to-air guns and cannons. Moreover, with the growing emphasis on air superiority and combat readiness, defense agencies are investing in the development and procurement of advanced air-to-air weapons with enhanced range, accuracy, and lethality capabilities.
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Robust defense spending and innovative weapons in North America
North America aircraft weapons market size is set to expand through 2032, fueled by robust defense spending, technological innovation, and a strong aerospace & defense sector. The United States, accounts for a significant industry share, driven by its extensive military capabilities and ongoing modernization programs. The region benefits from a large fleet of combat aircraft, including fighter jets and attack helicopters, which require advanced weapons systems for operational readiness and mission success. Additionally, Canada and Mexico contribute to market valuation through their defense procurement initiatives and partnerships with leading defense contractors.
Main aircraft weapons market contenders include, Lockheed Martin Corporation, The Boeing Company, Raytheon Technologies Corporation, Northrop Grumman Corporation, BAE Systems plc, MBDA, Saab AB, Thales Group, General Dynamics Corporation, Leonardo S.p.A. among others.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
