Global Aircraft Weapons Market

Description

Introduction

New generation aircraft weapons are designed to be highly accurate and easily controllable by the pilot. These weapons can be used for both offensive as well as defensive purposes. Aircraft weapons are of different types like air to air weapons, air to ground weapons, aircraft guns, aircraft ammunition, bombs, missiles, and defensive weapons. These weapons can be used to arm different aircraft like combat helicopters, fighter jets, VIP transportation aircraft, and military transportation 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 main growth factors of the market.

End Users

The end users of the global aircraft weapons market are government defence forces, non-government militias, international military coalitions, and military aircraft manufacturers. Government defence forces and international military coalitions use these weapons to modernize and strengthen their defence capabilities. Military aircraft manufacturers use these products to weaponize the aircrafts that they produce.

Market Dynamics

Increasing militarization and push towards modernization of military equipment are the main factors fuelling the growth of the global aircraft weapons market. Increasing threat of terrorist attacks has resulted in greater need for high accuracy weapons that can be used in focussed attacks. Need for defensive capabilities in aircraft transporting high value cargo has also helped in growth of the market. High defense budgets of many countries is another growth factor of the market. Increase in international border disputes and race for regional supremacy has also helped in expansion of the market.

However, the market also faces few constraints such as high costs of advanced aircraft weapons. Another constraining factor is the focus towards non-military confrontations to resolve problems in some regions.

Market Segmentation

The global aircraft weapons market can be segmented based on type of weapon, purpose of weapon, type of aircraft, end users and geography. Based on type of weapon, the market can be segmented as air to air weapons, air to ground weapons, aircraft missiles, aircraft guns, aircraft ammunition, etc. Based on purpose of weapon, the market can be segmented as offensive weapons and defensive weapons. Based on type of aircraft, the market can be segmented as combat helicopter weapons, fighter jet weapons, transportation aircraft weapons, etc.

Regional/Geographic Analysis

Geographically, the global aircraft weapons market can be divided into North America, Europe, Asia-Pacific (APAC), and Latin America, Middle East and Africa (LAMEA) regions. Currently North America accounts for the largest share of the market. However, increasing focus on military modernization and high defence budgets are expected to result in high growth rate in the APAC region.

Key Players

Some of the key players in the global aircraft weapons market are Lockheed Martin Corporation, BAE Systems, Raytheon, General Dynamics Corporation, and others.