North America Weapon Mounts Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Mount Type ; Platform ; Mode of Operation and Country
NEW YORK, July 23, 2020 /PRNewswire/ -- The weapon mounts market in North America was valued US$ 363.9million in 2019 and is projected to reach US$ 574.4million by 2027; it is expected to grow at a CAGR of 8.01% from 2020 to 2027.Several countries across the North American region are emphasizing manufacturing armoured vehicles and Infantry Fighting Vehicles (IFV). These vehicles have the capability to mount various types of weapons as these vehicle traverses through the main battlefield. The majority of the IFVs and main battle tanks (MBT) have coaxial type machine gun mounted on it. The objective of mounting a machine gun on the main battle tank is to allow the soldiers to fire along the parallel axis to the main battle tank gun. Owing to the increasing manufacturing of armoured vehicles, IFVs, and main battle tanks, the demand for remote weapon stations continue to rise, which showcase the growth of weapon mounts market year on year. The demand for remote weapon stations is stimulating among various military forces, which is aimed at modernizing and strengthening respective military forces. Kongsberg, a well-established Norwegian defense contractor, sealed a contract with General Dynamics Land Systems - Canada with an objective to supply the Canadian Army with PROTECTOR Remote Weapon Stations (RWS), for a valuation of US$ 49.9 million (NOK 500 Million) in May 2020.
Read the full report: https://www.reportlinker.com/p05934848/?utm_source=PRN
The growth in asymmetric warfare is propelling the military forces to opt for easy and convenient traversing capability.Owing to this, the demand for armoured personnel carriers (APC) and light armoured vehicles (LAV) is continuously up surging in the current scenario.
The demand for easy manoeuvrability and increasing military budgets year on year has been reflecting increased attraction for armoured vehicles among the military forces.Another factor gaining attraction of military forces towards armoured vehicles is the capability to combat cross-border conflicts.
The manufacturers of armoured vehicles are integrating their vehicles with advanced technologies, including sensors, countermeasure systems, command and control systems (C2), weapon mounts, and fire control systems.Pertaining to the fact that the armoured vehicles are capable of carrying machine guns, rocket launchers, the demand for weapon mounts on armoured vehicles is accentuating rapidly, which is supporting the growth of weapon mounts market.
Several military forces are procuring armoured vehicles in the recent years, for instance, in 2020, BAE Systems has secured two new contracts for the production of US Army's Armoured Multi-Purpose Vehicle (AMPV) worth US$ 575 million.
In terms of mount type, the static mount segment led the North America weapon mounts market in 2019 the largest share, and it is expected to continue to be the largest shareholder during the forecast period. However, the non-static mount type segment is expected to grow at the highest CAGR in the weapon mounts market during the forecast period.The static mounts are the non-portable weapon support components, which are either directly mounted to the ground, on a fortification, or as part of aircraft, vehicle, or naval vessels. The different types of static mounts include, turret, casemate, coaxial, fixed, pintle, remote weapon station, and swing arm. Turret is a rotating weapon platform, which is installed to protect the crew or mechanism of the weapons while letting the weapons to be aimed and fired in several directions.
The North America weapon mounts market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the North America weapon mounts market with respects to all the segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America weapon mounts market. A few of the players operating in the North America weapon mounts market are AEI Systems Ltd., CRSystems Inc, Engine Engineering Company, FN HERSTAL, Troy Products, Leonardo, ISTEC SERVICES LTD, Military Systems Group, Inc., TMIL-systems, and WE Platt.
Read the full report: https://www.reportlinker.com/p05934848/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article