Weapons Carriage and Release Systems Market - Size, Share, Outlook, and Opportunity Analysis, 2018–2026
Weapons carriage and release system has racks to
store bombs, sonobuoys, electronics pods, fuel tanks, and even
unmanned vehicles, able to deliver those bombs safely and
effectively. These carriage have multi-purpose rack assembly
capability, which carries both air-to-ground bombs and air-to-air
missiles.
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Increasing territorial disputes and rising
concerns for countermeasures against terrorist activities is expected
to drive the market growth
Rising territorial disputes and terrorist attacks
in countries such as Russia and Ukraine; China and Japan for
uninhabited islands in the East China Sea; India and Pakistan for
Jammu & Kashmir; Israel and Palestine for the Gaza Strip, Golan
Heights, and West Bank is a major factor for increasing demand for
carriage with multi-purpose rack racks. Several other regional
disputes, which inadvertently affects the security of the nation, is
expected to aid in growth of the market. For instance, according to
the Our World in Data Organization’s analysis, 11,996 number of
terrorist related incident occurred in 2013, and it increased to
16,860 in 2014, globally. Additionally, according to the U.S.
Department of State, India faced a total number of 764 terrorist
attacks in 2014, and it increased to 791 in 2015. Therefore, rising
territorial disputes increases weapons use in order to heighten
security of the nation from terrorist attacks, which is expected to
boost growth of the market.
Moreover, increasing government regulation to
monitor international borders and safeguard people against terrorist
activities is another factor driving growth of weapons carriage and
release system market. For instance, the USA Patriot Act is an
antiterrorism law enacted by the U.S. Congress in October 2001, to
improve the ability of U.S. law enforcement to detect and deter
terrorism. Therefore, increasing government initiative towards
protecting the nation from terrorist attack will positively encourage
the market players to purchase weapons carriage and release systems
for carrying large bombs and missiles during fight. This will in turn
help in propelling growth of the market.
High Initial Investment is one of the
Major Factors Restraining Growth of the Weapons Release Carriage
System Market
Factors negatively affecting growth of the market
is high cost of investment for manufacturing of weapons release
carriage racks. Components used in weapons carriage ejectors are very
costly, which further increases the overall cost of the system.
Hence, this factor restricts growth of the global market.
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Global Weapons Carriage and Release System
Market: Regional Insights
North America accounted for the largest market
share in the global weapon carriage and release system market in 2017
and is expected to retain its dominance during the forecast period
from 2018 to 2026. Rising government spending in defence and military
department for preventing unwanted terrorist attacks is further
expected to increase demand for weapons carriage and release system
in this region. For instance, according to Coherent Market Insights’
analysis, the U.S. government’s spending on military and defence
was US$ 594.6 billion in 2015 and it has grown up to US$ 600.15
billion in 2016. Additionally, according to the National Priorities
Project’s (NPP) analysis, the world military spending totalled over
US$ 1.6 trillion in 2015, out of which the U.S. accounted for 37%of
the total. These investments will further encourage market players to
add innovative technology in existing weapons carriage, which in turn
will allow the armed forces to carry large volume of weapons, bombs,
and other related weapons during fight operations. Moreover,
growing investment will inadvertently boost the defence sector in the
near future.
Global Weapons Release and Carriage System
Market: Competitive Landscape
Major players operating in the global weapons
release and carriage system market are Cobham Plc., Harris
Corporation, AVIC (Aviation Industry Corporation), Raytheon, Moog,
Inc., Ultra Electronics, Circor Aerospace& Defence, Marotta
Controls, AEREA s.p.a., and Systima Technologies.
Players in the market are focusing on adopting
various product development strategies, to strengthen their foothold
in the market. For instance, in August 2017, Cobham PLC launched
weapons carriage and release equipment for the future KF-X
next-generation indigenous multi-role fighter aircraft. This long
stroke ejection system allows interchangeable carriages to release
either Meteor or AMRAAM air-to-air missiles without role change.
Global Weapons Carriage and Release System
Market: Taxonomy
By Product Type
-
Air-to-Ground
-
Air-to-Air
By End Users
-
Air Force
-
Navy
-
Others
By Regions
-
North America
-
Europe
-
Asia Pacific
-
Latin America
-
Middle East
-
Africa
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