Increasing Demand for Advanced Military Technologies and Increasing Investment in Military and Defense Sector to Augment Growth of Airborne Weapon Delivery Systems Market

 


There are three major types of airborne weapon delivery systems in development; Long-range Unmanned Aerial Vehicles (LAV), Short-range Unmanned Aerial Vehicle (SRAV), and Laser-guided Air Ballistic Missiles (AGM). There are several programs currently active for each category, including; Ground-based Air Defense, Air-dropped Firepower Capability (AFFC), and Robotic, and Unmanned Aerial Vehicle (URAV).

Market Dynamics

Increasing demand for advanced military technologies is expected to propel growth of the airborne weapon delivery systems market. For instance, in February 2021, BAE Systems secured a US$ 247 million contract from the U.S Space Force to deliver advanced military GPS receivers and chips for the troops.

Increasing investment in the military and defense sector is expected to offer lucrative growth opportunities for players in the airborne weapon delivery systems market. For instance, in March 2019,  China's Ministry of Finance announced a yearly budget of US$ 177.5 billion for the defense sector compared to US$ 167.4 billion in 2018. Moreover, increasing in software defined radio systems is also expected to aid in growth of the market. For instance, in February 2021, India's Ministry of Defense and Defense Public Sector Undertaking Bharat Electronics Limited signed a contract for procurement of Software Defined Radio Tactical. 

Among regions, North America is expected to witness significant growth in the airborne weapon delivery systems market, owing to increasing investment in airborne platforms. For instance, in November 2020, BAE Systems was awarded a five-year US$ 94 million single-award indefinite delivery indefinite quantity contract to deliver advanced technology capability to the U.S. Navy.

Competitive Analysis

Major players operating in the airborne weapon delivery systems market are focused on gaining contracts to enhance their market share. For instance, in February 2021, Cubic Corporation’s Cubic Mission and Performance Solutions business division received a contract to deliver P5 Combat Training System pods and auxiliary training hardware in support of the Combat Air Force Contracted Air Support program.

Major players operating in the airborne weapon delivery systems market are also focused on adopting various marketing strategies to enhance their market share. For instance, in February 2021, BAE Systems exhibited its product portfolio at Aero India’.

Major players operating in the airborne weapon delivery systems market include, Boeing, BAE Systems, General Dynamics, Elbit Systems, Cubic Corporation, CMC Electronics, Lockheed Martin, Raytheon, Northrop Grumman, and Saab.


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