Increasing militarization and push towards better accuracy at reduced cost of military equipment are the main factors fuelling the growth of the global aircraft weapons market. The increasing threat of terrorists has resulted in greater need for high accuracy in weapons that can be used for focused attacks. Need for defense capabilities in aircraft transporting high-value cargo has also helped in the growth of the market. Increase in international border disputes and race for regional supremacy has also helped in the expansion of the aircraft weapons market.
Based on the type of weapon, the market can be segmented into air to air weapons, air to ground weapons, aircraft missiles, aircraft guns, aircraft ammunition, etc.
Growing Demand for Aircraft Weapons Market
Technological advancement is one of the key factors fueling the demand of air-dropped bombs in the aircraft weapons market.
New generation aircraft weapons are designed to be highly accurate and easily controllable by the pilot. These weapons can be used for both offense and defense and can be used to arm different aircraft like combat helicopters, fighter jets, VIP transportation aircraft, and military transport aircraft. Greater computer control is utilized in these weapons in order to reduce human error. High levels of militarization and modernization of military equipment are the primary growth factors of the market.
Key players include: LOCKHEED MARTIN CORPORATION, BAE SYSTEMS, RAYTHEON, GENERAL DYNAMICS CORPORATION, amongst others.
Key Developments in the Market
December 2017 - In a milestone series of three tests in June, the destroyer U.S.S. John Paul Jones used Standard Missile-6 interceptors to destroy cruise missile targets flying 'over the horizon' -- part of a Navy exercise that utilized a networked system of sensors, aircraft, and ship-borne weapons.
March 2018 - Saudi Arabia agrees to buy more Typhoon Combat Jets. The deal for 48 Eurofighters from BAE Systems has been years in the making and follows the purchase of 72 jets in 2007.
Reasons to Purchase the Repor:t
- Provides latest insights into the global aircraft weapons market
- Gives a detailed analysis of key competitors in the global aircraft weapons market
- Forecasts the market value by assessing the impact of the market drivers and constraints
- 3 month analyst support, along with the Market Estimate Sheet (in Excel)
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1.1 Scope of Study
1.2 Market Definition
1.3 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Phases
3. Market Insights
3.1 Current Market Scenario
3.2 Technological Developments
3.3 Industry Attractiveness - Porter's Five Forces Framework
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Competitive Rivalry within the Industry
4. Global Aircraft Weapons Market, Segmented by Type
4.1 Air-to-Ground Weaponry
4.2 Aircraft Guns
4.3 Aerial Torpedoes
4.4 Targeting Pods
5. Global Aircraft Weapons Market, Segmented by Geography
5.1 North America
5.3.4 South Korea
5.4 South America
5.5 Middle East & Africa
5.5.1 Saudi Arabia
5.5.3 South Africa
6. Competitive Landscape
6.2 Market Share Analysis
7. Company Profiles
7.1 Boeing Company
7.2 Lockheed Martin
7.3 Northrop Grumman
7.6 CACI International
7.7 DynCorp International
7.8 ManTech International Corporation
7.12 Elbit Systems
7.13 Ball Aerospace & Technologies
8. Future Outlook
- Boeing Company
- Lockheed Martin
- Northrop Grumman
- CACI International
- DynCorp International
- ManTech International Corporation
- Rheinmetall S.A.
- Elbit Systems
- Ball Aerospace & Technologies