europe weapon mounts Market

The weapon mounts market in Europe was valued US$ 207.7million in 2019 and is projected to reach US$ 364.7million by 2027; it is expected to grow at a CAGR of 9.46% from 2020 to 2027.

Germany's military expenditure rose by 10% in 2019, and reached US$ 49.3 billion. This was one of the largest rise in spending among the top 15 military spenders in 2019. On the other hand, however, military spending by the United Kingdom and France remained relatively stable. Whereas, there were sharp upsurges in military expenditure among NATO member states in Central Europe: for instance, Bulgaria's increased by 127% owing to the payments for new combat aircraft, while Romania's rose by 17%. Thus, total military spending by all 29 NATO member states was around US$1035 billion in 2019.

Russia in 2019, increased its military expenditure by 4.5% to reach US$65.1 billion and became the fourth-largest spender in the world. 'At 3.9% of its GDP, Russia's military spending burden was among the highest in Europe in 2019. Moreover, in 2017, Russia launched Russian State Armament Program (SAP) for 2018-2027. This memo reviews publicly obtainable information with respect to the types of armaments that are expected to be procured for the Russian military in the next 8 years and evaluates the likelihood that the Russian government would be capable to meet these commitments. On the basis of these plans, Russia seems primed to stay ahead of its competitors in some capabilities (electronic warfare, anti-ship missiles, air defenses), narrow the gap in fields such as precision-guided munitions and drones, and continue to lag well behind in a few fields such as surface ships and automated control systems. Thus, significant initiative by these countries towards strengthening military force world further demand for advanced mounting solutions to deploy heavy weapons on the forces like aircrafts, ships, armored vehicles and others. Thus, letting the market vendors to experience significant demand for their products in the combats.

In terms of mount type, the static mount segment led the Europeweapon mounts market in 2019 the largest share, and it is expected to continue to be the largest shareholder during the forecast period. However, the non-static mount type segment is expected to grow at the highest CAGR in the weapon mounts market during the forecast period.The static mounts are the non-portable weapon support components, which are either directly mounted to the ground, on a fortification, or as part of aircraft, vehicle, or naval vessels. The different types of static mounts include, turret, casemate, coaxial, fixed, pintle, remote weapon station, and swing arm. Turret is a rotating weapon platform, which is installed to protect the crew or mechanism of the weapons while letting the weapons to be aimed and fired in several directions.

The Europeweapon mounts market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europeweapon mounts market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europeweapon mounts market. A few of the players operating in the Europeweapon mounts market are AEI Systems Ltd., CRSystemsInc, Engine Engineering Company, FN HERSTAL, Troy Products, Leonardo, ISTEC SERVICES LTD, Military Systems Group, Inc., TMIL-systems, and WE Platt.