The global Airborne Weapon Delivery Systems Market is estimated to be valued at US$ 2839.5 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Airborne weapon delivery systems are critical components used to transfer weapons and payloads from fixed-wing aircraft, helicopters, and drones to their intended targets. These computer-controlled systems offer precision, accuracy, and flexibility when compared to traditional manual methods of dropping bomb and guided missiles.
Market key trends:
One of the major trends in the airborne weapon delivery systems market is the integration of advanced precision and navigation systems with airborne weapon delivery and guidance systems. The development of advanced laser, GPS, and inertial navigation systems have significantly improved the accuracy and precision of most modern air-dropped and air-launched precision-guided munitions (PGMs). These systems allow weapons to hit targets within a few meters of impact points from distances of tens of kilometers away. They have enabled the minimization of collateral damage and enhanced the effectiveness of air campaigns even in urban warfare scenarios. Another key trend is the increasing procurement and integration of modern PGMs like laser-guided bombs, cruise missiles, and precision artillery shells on manned aircraft as well as UAVs by military forces globally.
Segment Analysis
The airborne weapon delivery systems market is segmented by type, platform, weapon type, and geography. By type, the fixed-wing segment dominated the market in 2023 and is expected to continue its dominance over the forecast period as well. Fixed-wing aircrafts have high reliability and capabilities to carry heavy payloads over long ranges.
Key Takeaways
The global airborne weapon delivery systems market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing geopolitical tensions globally.
Regional analysis
North America dominated the market in 2023 and is expected to continue its dominance over the forecast period as well. Majority of key players are based in North America and the heavy defense spending on procuring advanced weapon delivery systems is driving the market.
Key players operating in the airborne weapon delivery systems market include Boeing, BAE Systems, General Dynamics, Elbit Systems, CMC Electronics, Lockheed Martin, Raytheon, Northrop Grumman, and Saab. The market size for 2023 is US$2839.5 Mn.
The global airborne weapon delivery systems market size is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing geopolitical tensions globally. North America dominated the market in 2023, holding more than 35% share of the global market, due to presence of major players and high defense spending in the region. The fixed-wing segment accounted for larger market share in 2023 and is expected to continue its dominance over the forecast period as well owing to its high reliability and abilities to carry heavy payloads over long ranges.
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