Market Size of Close-in Weapon Systems Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.08 Billion |
| Market Size (2029) | USD 11 Billion |
| CAGR (2024 - 2029) | 9.21 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Close-in Weapon Systems Market Analysis
The Close-in Weapon Systems Market size is estimated at USD 7.08 billion in 2024, and is expected to reach USD 11 billion by 2029, growing at a CAGR of 9.21% during the forecast period (2024-2029).
A close-in weapon system (CIWS) is designed to identify and neutralize incoming short-range missiles and enemy aircraft that have successfully penetrated the outer defense mechanisms. These systems are commonly utilized on naval vessels, and it should be noted that CIWS devices are present on a wide range of modern warships. Experts have pointed out that high-energy lasers now provide a cost-effective solution for targeting asymmetric threats such as unmanned aircraft and small attack boats, accomplishing this task at the speed of light and with exceptional accuracy.
The close-in weapon systems market is anticipated to be driven by a consistent increase in the global military fleet, internal and external security threats, technological innovations, aging global military fleet, joint ventures, and strategic alliances formed to address the specific requirements of the modernization initiatives undertaken by the global armed forces. Moreover, the growing instances of asymmetric warfare and the emphasis on developing advanced warfare systems are the main drivers for the market. However, the design and operational issues regarding the use of automated weaponry including CIWS may challenge the industry in the short term.
