February 24, 2024
Weapons Carriage and Release Systems Market

Emerging Defence Spending To Boost The Growth Of Weapons Carriage And Release Systems Market

The global Weapons Carriage And Release Systems Market is estimated to be valued at US$ 482.91 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Weapons Carriage And Release Systems are mechanical and electrical systems used in military aircraft to carry and deploy various armaments such as rockets, missiles, bombs, torpedoes etc. These systems allow aircraft to effectively deliver weapons to their targets. They enable lightweight weapons integration, safe separation from the aircraft and reliable weapon deployment. With advanced features like electrical and pneumatic interfaces, integrated stores management system controls, aircraft weapons systems can carry an assortment of contemporary and future weapon capabilities. The demand for these systems has been rising with increasing focus on defense capabilities.

Market key trends:
One of the key trends in the Weapons Carriage And Release Systems Market is the integration of advanced technologies like laser and sensor fusion for increased accuracy of target engagements. Systems are being developed with multi-function capabilities for diverse weapons employment. For instance, Safran developed the Talios targeting pod which utilizes sensors and situational displays to facilitate dynamic targeting and engagements using various attack assets including aircraft and naval vessels. Manufacturers are also focusing on open architecture designs and modular payloads to support evolving weapons needs. Ongoing modernization programs worldwide to upgrade military aircraft fleets with advanced armaments will continue driving demand over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the weapons carriage and release systems market is low due to high capital requirements and strong competition from existing players.

Bargaining power of buyers: The bargaining power of buyers in the weapons carriage and release systems market is moderate due to a few key buyers in the military and weapons segment.

Bargaining power of suppliers: The bargaining power of suppliers in the weapons carriage and release systems market is low due to fragmentation among suppliers and availability of substitute raw materials.

Threat of new substitutes: There is a low threat of substitutes in the weapons carriage and release systems market due to lack of versatility in existing substitutes.

Competitive rivalry: The competitive rivalry in the weapons carriage and release systems market is high due to presence of few large players and pricing pressure.

Key Takeaways

Global Weapons Carriage And Release Systems Market Size is expected to witness high growth, exhibiting CAGR of 4.3% over the forecast period, due to increasing defense spending and modernization of aircraft fleets globally.

Regional analysis- North America dominated the weapons carriage and release systems market in 2023, accounting for around 30% of global market share. Increase in defense budget of countries like the US and Canada is driving market growth. Asia Pacific is expected to be the fastest growing market, propelled by rising defense expenditure of India and China.

Key players operating in the weapons carriage and release systems market are Cobham (U.K.),Harris Corporation (U.S.),AVIC (China),Raytheon (U.S.),Moog (U.S.),Ultra Electronics (U.K.),Circor Aerospace & Defense (U.S.),Systima Technologies (U.S.),Marotta Controls (U.S.), and AEREA S.p.A (Italy). Cobham, Harris Corporation and Raytheon cumulatively account for over 40% share of the global market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it