Market Trends of Close-in Weapon Systems Industry
Gun-Based Close-in Weapon Systems is Anticipated to Grow with the Highest CAGR During the Forecast Period
Gun-based close-in weapon systems are expected to experience substantial growth in the market throughout the projected period due to the rising demand for various gun-based close-in weapon systems (CIWS), such as Pantsir-M, DARDO, AK-630, Goalkeeper CIWS, Kashtan CIWS, Myriad CIWS, and others. A gun-based close-in weapon system (CIWS) often consists of radar systems, computational devices, and rapidly-firing, multi-barrel rotary cannons within a rotating turret. Furthermore, increasing expenditure on the defense sector and growing procurement of advanced weapons systems drive the market growth.
The Kashtan CIWS is predicted to garner attention in the coming years primarily because of its ample ammunition storage capacity and several advantages, including its ability to safeguard ships against anti-radar missiles, ASMs, and airborne threats from aircraft, among others. Furthermore, it possesses the capability to engage ground targets and smaller vessels. For example, in September 2021, China unveiled an innovative 11-barrel variant of its land-based 30mm air-defense system. Its mounted-trailer version seemingly improved for the point-defense of critical installations. The 1130 Types represent one of China's numerous gun-based naval CIWS.
North America to Dominate the Market During the Forecast Period
Utilization of close-in weapons systems (CIWS) in North America is currently a primary area of emphasis for both the US and Canada as they endeavor to enhance the capabilities of their existing military vehicles. The US, in particular, prioritizes modernizing its military systems to compete effectively with China and Russia on a global scale. Additionally, the US emphasizes the significance of day-to-day operations in ongoing conflicts, disaster response, and cooperation. It is anticipated that defense contractors will produce current CIWS models while conducting comprehensive research and development for future endeavors.
For instance, in April 2023, RTX Corporation secured a modification contract for the MK 15 close-in weapon system (CIWS). The US Naval Sea Systems Command has provided the award. The contract is expected to be completed by September 2026. Similarly, in May 2022, the Canadian military announced its plans to procure new ground-based air defense systems for USD 1 billion. The military has started the process of procuring a new high-tech system that will be capable of shooting down enemy aircraft, missiles, and drones. The weapons included highly capable close-in systems that could take down any adversary aircraft entering without authorization.
