Close-in weapon systems market is anticipated to grow at a CAGR of 7.8% during the forecast period. One of the key factors that are fueling the market is the rising technological advancement in the system. Close-in weapon systems are defense weapons that can detect and destroy an enemy aircraft and short-range incoming missiles which have penetrated the outer defenses, usually mounted on a naval ship. Such advanced technology has strengthened the defense of multiple countries such as India, China, the US, and others which has increased the demand for more advancement in the technology to have an edge over other armies. For instance, in March 2022, Indian companies conducted tests for meeting an Indian Air Force (IAF) requirement for close-in weapon systems (CIWS), a defense tool that works against hostile air attacks. Such limited tender got released at the end of December 2017, with a $1.5 billion allocation for this ‘Buy and Make (Indian)’ project. The RFP requested CIWS for protecting airbases in contradiction of aircraft, UAVs, helicopters, and cruise missiles. 

Segmental Outlook 

The global close-in weapon systems market is segmented based on the type and platform. Based on the type, the market is segmented into gun-based and missile-based. Based on the platform, the market is segmented into terrestrial and naval. The above-mentioned segments can be customized as per the requirements. Based on type, the gun-based close-in weapon systems segment is anticipated to grow significantly in the market owing to the increasing demand for several gun-based close-in weapon systems while, based on platform, the naval segment is anticipated to grow significantly during the forecast period owing to rising demand for naval security.

Based on type, the gun-based close-in weapon systems segment is anticipated to grow significantly in the market during the forecast period owing to the increasing demand for several gun-based close-in weapon systems (CIWS), including Pantsir-M, DARDO, AK_630, Goalkeeper CIWS, Kashtan CIWS, Myriad CIWS, and others. The Kashtan CIWS is anticipated to gain traction in the upcoming years, owing to its high ammunition storage and various benefits, including its capability to defend ships against anti-radar missiles, ASMs, and aerial threats from aircraft, among others. It can also involve ground targets and smaller vessels. For instance, in September 2021, china revealed a new 11-barrel type of its ground-based 30mm air-defence system, with a mounted-trailer version seemingly enhanced for the point-defence of key installations. The 1130 Type is one of the numerous types of gun-based naval CIWS manufactured by China. 

Regional Outlook

The global close-in weapon systems market is further segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. North American region is anticipated to hold a prominent share in the market while the Asia-Pacific region is anticipated to grow significantly during the forecast period.

Global Close-In Weapon Systems Market Growth, by Region 2022-2028

North America Region Holds Prominent Share in the Global Close-In Weapon Systems Market

North American region is anticipated to hold a prominent share in the market owing to the growing demand for close-in weapon systems from the US Deployment of the US military troops in various areas across the globe, owing to the engagement of the US in various global struggles, which is one of the core features driving the revenue growth from the region. Such military deployment has gained a lot of enemies as countries and terrorist groups for the US. This has caused the rise in the highest defense budget of the country across the globe. The country has been focusing on advancing the existing defense technology onboard several of its defense platforms for fighting against the enemies. For instance, in April 2022, a robust plan for modernizing regional defenses under the North American Aerospace Defense Command (NORAD) was conversed between the US and Canadian defense organizations, to install close-in defense weapons that can retort to any opponent’s air attacks. The US National defense totaled as of 2022 was valued at $782 billion, grown by 3.9% over the military expenditure budget in 2021.

Market Players Outlook

The major companies serving the global close-in weapon systems market include ASELSAN A.?., BAE Systems plc, Leonardo S.p.A., Raytheon Technologies Corp., and Thales S.A. The market players are contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2022, the South Korean government raised an appeal to the US, seeking to procure two Mk 15 Phalanx Block, 1B Baseline, and 2 close-in weapon system (CIWS) units. The projected contract value of this procurement, which included 4,000 rounds of 20 mm ammunition, technical support, and spare parts, will be about $39 million. In totaling this request, Seoul may also secure up to four additional Phalanx CIWS units.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global close-in weapon systems market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.