Weapons carriage and release system has racks to store bombs, sonobuoys, electronics pods, fuel tanks, and even unmanned vehicles, able to deliver those bombs safely and effectively. These carriage have multi-purpose rack assembly capability, which carries both air-to-ground bombs and air-to-air missiles.
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Increasing territorial disputes and rising concerns for countermeasures against terrorist activities is expected to drive the market growth
Rising territorial disputes and terrorist attacks in countries such as Russia and Ukraine; China and Japan for uninhabited islands in the East China Sea; India and Pakistan for Jammu & Kashmir; Israel and Palestine for the Gaza Strip, Golan Heights, and West Bank is a major factor for increasing demand for carriage with multi-purpose rack racks. Several other regional disputes, which inadvertently affects the security of the nation, is expected to aid in growth of the market. For instance, according to the Our World in Data Organization’s analysis, 11,996 number of terrorist related incident occurred in 2013, and it increased to 16,860 in 2014, globally. Additionally, according to the U.S. Department of State, India faced a total number of 764 terrorist attacks in 2014, and it increased to 791 in 2015. Therefore, rising territorial disputes increases weapons use in order to heighten security of the nation from terrorist attacks, which is expected to boost growth of the market.
Moreover, increasing government regulation to monitor international borders and safeguard people against terrorist activities is another factor driving growth of weapons carriage and release system market. For instance, the USA Patriot Act is an antiterrorism law enacted by the U.S. Congress in October 2001, to improve the ability of U.S. law enforcement to detect and deter terrorism. Therefore, increasing government initiative towards protecting the nation from terrorist attack will positively encourage the market players to purchase weapons carriage and release systems for carrying large bombs and missiles during fight. This will in turn help in propelling growth of the market.
High Initial Investment is one of the Major Factors Restraining Growth of the Weapons Release Carriage System Market
Factors negatively affecting growth of the market is high cost of investment for manufacturing of weapons release carriage racks. Components used in weapons carriage ejectors are very costly, which further increases the overall cost of the system. Hence, this factor restricts growth of the global market.
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.