Market Size of Aircraft Weapons Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Aircraft Weapons Market Analysis
- The aircraft weapons market is anticipated to register a CAGR of over 5% during the forecast period.
- The COVID-19 pandemic hurt the aircraft weapons market. The onset of the pandemic led to various countries imposing barriers to curb the spread of the pandemic, which led to a decline in trade between countries, and this led to various aircraft weapons manufacturers not receiving the raw materials which are required to manufacture the aircraft weapon systems. Moreover, various lay-offs by companies owing to the onset of the pandemic had hampered the production of aircraft weapons.
- On the other hand, the decline of the pandemic led to various countries removing their barriers and regulations, which has enabled free flow in terms of trade, and this has helped manufacturers of aircraft weapon systems to increase their production process owing to an increase in demand for advanced aircraft weapon systems by various countries, and this will lead to the market witnessing growth during the forecast period.
- The increasing demand for next-generation fighter aircraft to strengthen the air combat capabilities of the countries through various procurement and modernization schemes is anticipated to generate demand for the aircraft weapons market. Moreover, the demand for new remote weapons, like autocannons and machine guns, which are mounted on military helicopters, is anticipated to further propel the market's growth during the forecast period.
- On the other hand, the integration of autonomy and artificial intelligence to further increase the capabilities of weapon systems is expected to open new market opportunities for aircraft weapons in the coming future.
