The weapons carriage & release system market is estimated to be USD 462 million in 2019 and is projected to reach USD 554 million by 2025, at a CAGR of 3.1% from 2019 to 2025. The increasing induction of new airborne platforms, rising demand for pneumatic release systems, and growing use of different ranges and types of missiles have led to the growth in demand for weapons carriage & release systems.
Among the weapon types, missiles are anticipated to witness the highest demand during the forecast period. There is increasing use of different ranges and types of missiles, due to which the demand for missile-related carriage & release systems is expected to increase. There has also been an increase in the adoption of air-to-air and air-to-ground missiles with extended ranges in fighter aircraft. Additionally, the fifth-generation aircraft has been using a new range of adapters for the carriage of missiles.
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Based on end use, the market has been segmented into OEM and aftermarket. The OEM segment is expected to capture a larger market share due to the increasing inventory of newly inducted airborne platforms. These airborne platforms have increasing applications in anti-submarine warfare, air-to-ground support, and air defense roles. Moreover, the development of a new range of missiles, such as beyond visual range missiles and anti-radiation missiles, for newly inducted platforms has also contributed to the demand for OEMs.
The market in Europe is expected to grow significantly due to a rise in the deployment of fighter aircraft, such as Eurofighter Typhoon, Dassault Rafale, Saab Gripen, and F-35, in various European countries, including the UK, Italy, Turkey, and Finland. The induction of UAVs loaded with missiles and bombs for combat roles has also led to an increase in demand for weapons carriage & release systems in Europe.
Based on region, the weapons carriage & release system market in North America is projected to register the highest CAGR during the forecast period. The market growth in this region is largely due to the growing procurement of fighter aircraft, helicopters, and UAVs in US. The market growth in North America is also attributed to increasing upgradation programs for airborne platforms in the region.
Weapons carriage & release systems are majorly developed by companies present in the North American and European regions. The key players in the weapons carriage & release system market include Harris Corporation (US), Ultra Electronics (US), Marvin Group (US), Marotta Controls (US), Moog Inc. (US), RUAG Group (Switzerland), Systima Technologies, Inc. (US), Raytheon Company (US), Cobham plc (UK), ALKAN (France), and RAFAUT Group (France).
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