WEAPONS CARRIAGE AND RELEASE SYSTEMS MARKET ANALYSIS

Regional Analysis

Global Weapons Carriage and Release System Market: Regional Insights

North America accounted for the largest market share in the global weapon carriage and release system market in 2017 and is expected to retain its dominance during the forecast period from 2018 to 2026. Rising government spending in defence and military department for preventing unwanted terrorist attacks is further expected to increase demand for weapons carriage and release system in this region. For instance, according to Coherent Market Insights’ analysis, the U.S. government’s spending on military and defence was US$ 594.6 billion in 2015 and it has grown up to US$ 600.15 billion in 2016. Additionally, according to the National Priorities Project’s (NPP) analysis, the world military spending totalled over US$ 1.6 trillion in 2015, out of which the U.S. accounted for 37%of the total. These investments will further encourage market players to add innovative technology in existing weapons carriage, which in turn will allow the armed forces to carry large volume of weapons, bombs, and other related weapons during fight operations.  Moreover, growing investment will inadvertently boost the defence sector in the near future.

Furthermore, growing investment on research and development activities by the major players such as Cobham Plc., Harris Corporation, and others for developing robust, reliable, and durable weapons release carriage system, and also innovating and improving existing weapons is another factor expected to support growth of the market. For instance, according to annual report of Cobham Plc., the company invested US$ 77.9 million in research and development activities in 2014 and it has grown up to US$ 145 million in 2015 Furthermore, in 2017, Harris Corporation launched a new weapons release and carriage system for MBDA spear missile for Britain’s F-35B aircraft.