Increasing strength of airborne platforms across the world has resulted in increase in demand for weapons carriage & release systems
The weapons carriage & release system market is projected to grow from USD 462 million in 2019 to USD 554 million by 2025, at a CAGR of 3.1% during the forecast period. The increasing strength of airborne platforms across the globe, the development of 5th generation fighter aircraft by various countries, and increasing demand for weapon carriage & release systems for unmanned aerial vehicles (UAVs) are major factors leading to the growth of the weapons carriage & release system market.
OEM segment estimated to have larger market share than aftermarket segment in 2019
Based on end use, the market has been segmented into OEM and aftermarket. The OEM segment is estimated to capture a larger market share than the aftermarket segment due to the increasing inventory of newly inducted airborne platforms. There has been a growth in the procurement of UAVs, fighter aircraft of the fourth and fifth-generation, and helicopters, which have increasing applications in the anti-submarine warfare, air-to-ground support, and air defense roles. Moreover, the development of a new range of missiles, such as beyond visual range missiles and anti-radiation missiles, for newly inducted platforms has also added to the growth of the OEM segment.
Based on systems component, release system segment estimated to account for major market share in 2019
Release systems in the weapon carriage & release system are of multiple types, depending on the type of aircraft. Release systems use different types of ejection technologies for delivering weapons and payloads. Increasing demand for pneumatic ejection units and upgradation of existing weapons carriage & release systems are expected to increase the market share for the release system segment during the forecast period.
Europe estimated to account for largest share of the weapons carriage & release system market in 2019
Europe is witnessing an increase in demand for fighter aircraft and UAVs. The rise in the existing fleet of aircraft, increasing adoption of advanced missiles, and upgradation of the existing fleet have led to Europe acquiring the largest market share in 2019. The induction of UAVs loaded with missiles and bombs for combat roles has also led to the growth of the market for weapons carriage & release system in Europe.
Break-up of profiles of primary participants in the weapons carriage & release system market: By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20% By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40% By Region: Middle East – 45%, North America – 20%, Asia Pacific – 30%, Europe – 5%
Key players in the weapons carriage & release system market include Harris Corporation (US), Ultra Electronics (US), Marvin Group (US), Marotta Controls (US), Moog Inc. (US), RUAG Group (Switzerland), Systima Technologies, Inc. (US), Raytheon Company (US), Cobham plc (UK), ALKAN (France), and RAFAUT Group (France).
Research Coverage: The market study covers the weapons carriage & release system across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as platform, weapon type, systems component, end use, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. Reasons to buy this report: This report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall weapons carriage & release system market and its subsegments. The report covers the entire ecosystem of the weapons carriage & release system industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.