Aircraft Weapons Market Analysis

Global Aircraft Weapons Market Overview

Aircraft Weapons Market Size was valued at USD 9.8 Billion in 2022. The Aircraft Weapons market industry is projected to grow from USD 10.63 Billion in 2023 to USD 20.42 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.50% during the forecast period (2023 - 2032). The increasing global geopolitical tensions and the ongoing need for military modernization programs are the key market drivers fueling the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Aircraft Weapons Market Trends

• Increasing geopolitical tensions and military modernization are driving the market growth

Market CAGR for aircraft weapons is being driven by surge in global geopolitical tensions. As nations face evolving security challenges and geopolitical uncertainties, there is a heightened demand for military capabilities to safeguard national interests. This demand triggers increased defense budgets, leading to the modernization of military forces, including the enhancement of airborne capabilities. Countries around the world seek to maintain or establish military superiority to protect their sovereignty and strategic interests, thereby driving the procurement of advanced aircraft weapons systems.

Advancements in technology play a pivotal role in shaping the landscape of the aircraft weapons market. The ongoing development of sophisticated and precision-guided munitions (PGMs) represents a key driver fueling market growth. Precision-guided munitions offer unprecedented accuracy, minimizing collateral damage and increasing the effectiveness of military operations. The integration of advanced guidance systems, sensors, and artificial intelligence in munitions allows for precise targeting, enhancing the overall efficiency and success rates of aerial missions.

Additionally, the perception of regional threats and the constant need for defense preparedness also serves as significant drivers for the aircraft weapons market. Nations often invest in strengthening their air power capabilities to deter potential adversaries and respond effectively to emerging security challenges. The presence of regional conflicts, territorial disputes, and the proliferation of non-state actors with access to advanced weaponry contribute to a sense of insecurity, prompting countries to enhance their aerial firepower.

In 2021, the 100 largest companies in the arms and military services industry recorded sales totaling $592 billion, marking a 1.9% real-term increase compared to the figures reported in 2020, as indicated by recent data unveiled today by the Stockholm International Peace Research Institute (SIPRI). As a result, it is anticipated that throughout the projection period, demand for Aircraft Weapons will increase due to the rising geopolitical tension. Thus, driving the Aircraft Weapons market revenue.

Aircraft Weapons Market Segment Insights

Aircraft Weapons Guidance Systems Insights

The Aircraft Weapons Market segmentation, based on Guidance Systems includes GPS-Guided Weapons, Laser-Guided Weapons, Inertial-Guided Weapons, Autonomous Weapons, and Others. The GPS-guided weapons segment dominated the market, accounting for a quarter of market revenue. This is linked to its widespread use and precision in targeting. GPS technology provides accurate and real-time location information, enhancing the effectiveness of weapons by ensuring precise navigation and target acquisition.

Aircraft Weapons Aircraft Type Insights

The Aircraft Weapons Market segmentation, based on Aircraft Type includes Fixed-Wing Aircraft, Rotary-Wing Aircraft, and Unmanned Aerial Vehicles (UAVS). The unmanned aerial vehicles (UAVs) segment dominated the market, accounting for more than one-third of market revenue. This is attributed to its increased demand for reconnaissance, surveillance, and combat missions.

Aircraft Weapons Range Insights

The Aircraft Weapons Market segmentation, based on Range includes Short-Range Weapons, Medium-Range Weapons, and Long-Range Weapons. The long-range weapons segment dominated the market, accounting for above one-third of market revenue. This is attributed to its strategic advantages in modern warfare scenarios. The ability to engage targets from a distance enhances the safety of aircraft and allows for preemptive strikes.

Aircraft Weapons Weapon Type Insights

The Aircraft Weapons Market segmentation, based on Weapon Types includes Air-To-Air Weapons, Air-To-Ground Weapons, Anti-Ship Weapons, and Countermeasures. The air-to-ground Weapons segment dominated the market, accounting for more than quarter of market revenue.  This is linked to the increasing focus on precision strikes against ground targets. Military operations often involve the need to engage and neutralize enemy positions, infrastructure, and threats on the ground.

Figure 1: Aircraft Weapons Market, by Weapon Type, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Aircraft Weapons End-Use Insights

The Aircraft Weapons Market segmentation, based on End Use includes Military, Army, Navy, Civilian, Law Enforcement, and Security Agencies. The military segment dominated the market, accounting for more than one-third of the market share.  This is linked to the increasing focus on precision strikes against ground targets. Military operations often involve the need to engage and neutralize enemy positions, infrastructure, and threats on the ground.

Aircraft Weapons Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Aircraft Weapons market area will dominate this market. The region houses major defense contractors and aerospace companies that continuously innovate and develop cutting-edge aircraft weapons. The United States, with the largest defense budget globally, invests significantly in military modernization, driving the demand for advanced weapons systems.

Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: AIRCRAFT WEAPONS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Aircraft Weapons market accounts for the second-largest market share. Europe, with its established defense industry and collaborative defense initiatives among European Union (EU) member states, plays a significant role in the aircraft weapons market. Further, the Germany Aircraft Weapons market held the largest market share, and the UK Aircraft Weapons market was the fastest-growing market in the European region

The Asia-Pacific Aircraft Weapons Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to escalating regional tensions, territorial disputes, and the rapid modernization of military forces. Countries like China, India, Japan, and South Korea are investing heavily in advanced aircraft and weapons systems to enhance their defense capabilities. Moreover, China’s Aircraft Weapons market held the largest market share, and the Indian Aircraft Weapons market was the fastest-growing market in the Asia-Pacific region.

Aircraft Weapons Key Market Players & Competitive Insights

Leading market players are investing heavily in research to stay at the forefront of technological advancements. Investing in the development of state-of-the-art guidance systems, materials, and manufacturing processes allows companies to offer cutting-edge products that meet the evolving demands of military and defense customers. Market participants are also Adopting a variety of strategic activities to expand their global presence, with important market developments including new product launches, Strategic Partnerships and Collaborations, contractual agreements, mergers and acquisitions, and investments. To expand and survive in a more competitive and rising market climate, Aircraft Weapons industry must offer modern innovative solutions.

Portfolio Diversification is one of the key business moves used by manufacturers in the global Aircraft Weapons industry to increase the market share. In recent years, the Aircraft Weapons industry has offered some of the most significant innovation to Consumers. Major players in the Aircraft Weapons market, including Boeing Company, General Dynamics, Northrop Grumman, SAAB, and others, are attempting to increase market demand by investing in product development to increase their product line and cater to diverse consumer demand.

Boeing, a premier global aerospace enterprise, specializes in the design, production, and maintenance of commercial aircraft, defense solutions, and space systems. With a robust presence in over 150 nations, Boeing stands as a leading U.S. exporter, harnessing a worldwide network of suppliers to promote economic growth, sustainability, and community development. Renowned for its innovation, Boeing's diverse workforce is dedicated to shaping the future, emphasizing sustainability, and upholding core values centered on safety, quality, and integrity. In November 2022, Boeing has implemented executive leadership changes and streamlined Boeing Defense, Space & Security (BDS) divisions. The consolidation, effective immediately, reduces eight divisions to four—Vertical Lift, Mobility, Surveillance & Bombers, and Air Dominance, Space, Intelligence & Weapon Systems. This reorganization aims to enhance operational efficiency, first-time quality, and overall performance.

Northrop Grumman is a global leader in defense and technology solutions, uniting big thinkers to innovate and enhance global security. Specializing in autonomous systems, cyber, space, and logistics, the company values diversity, offering a dynamic culture of innovation. With a commitment to excellence, employees receive world-class training, comprehensive benefits, and opportunities in engineering, IT, manufacturing, and cybersecurity. Northrop Grumman is an Equal Opportunity/Affirmative Action Employer, shaping the future of security worldwide. In September 2023, Northrop Grumman Corporation disclosed that the U.S. Air Force had granted the company an estimated $705 million contract to supply the Stand-in Attack Weapon (SiAW), an air-to-ground munition facilitating the transition to a new era of air power.

Key Companies in the Aircraft Weapons market include

• Boeing Company


• General Dynamics


• Northrop Grumman


• SAAB


• Thales Group


• Lockheed Martin


• MDBA

Aircraft Weapons Industry Developments

January 2023: India has revealed intentions to allocate USD 552 million for the procurement of air defense and naval weapons. The plan involves integrating Halina missiles, launchers, and related support equipment into advanced light helicopters.

November 2021: Turkish Aerospace Industries undertook the construction and integration of a directional infrared countermeasure system for the A400M multinational heavy transport aircraft.

Aircraft Weapons Market Segmentation

• GPS-Guided Weapons


• Laser-Guided Weapons


• Inertial-Guided Weapons


• Autonomous Weapons


• Others

• Fixed-Wing Aircraft


• Rotary-Wing Aircraft


• Unmanned Aerial Vehicles (UAVs)

• Short-Range Weapons


• Medium-Range Weapons


• Long-Range Weapons

• Air-to-Air Weapons


• Air-to-Ground Weapons


• Anti-Ship Weapons


• Countermeasures

• Military


• Army


• Navy


• Civilian


• Law Enforcement


• Security Agencies

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa