Close-in Weapon Systems Market Size to Surpass USD 18.46 Billion by 2032 Owing to Rising Asymmetrical Warfare

"The Close-in Weapon Systems (CIWS) market is set to grow, driven by evolving threats and advancements in military technology"

AUSTIN, TX, UNITED STATES, November 20, 2024 /EINPresswire.com/ -- The Close-in Weapon Systems Market size was USD 7.31 billion in 2023 and is expected to reach USD 18.46 billion by 2032 and grow at a CAGR of 10.85% over the forecast period of 2024-2032.

Driving Forces Behind the Growth of the Close-in Weapon Systems Market

The Close-in Weapon Systems (CIWS) market is seeing strong growth, driven mainly by the urgent demand for defense programs that improve the procurement and advancement of different military platforms in international and maritime environments. This advancement is greatly impacted by endorsed defense budgets from different countries that support the development and acquisition of CIWS technologies. In areas such as Asia-Pacific and South America, MRO suppliers are facing major supply chain disruptions, resulting in operational difficulties and potential financial dangers. However, the market is still growing, driven by the growth in worldwide military sales and the escalating number of security risks. Furthermore, the need for advanced CIWS solutions is increasing due to aging naval fleets and cooperation in defense efforts. Nevertheless, the sector encounters hurdles related to the development and performance of automated weapon systems, which could be influenced by external factors like magnetic fields and electronic warfare.

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Asymmetric Warfare and Technological Advancements Propel Growth in Close-in Weapon Systems Market

Several important factors are contributing to the significant growth in the Close-in Weapon Systems market. The increase in asymmetric warfare, known for its unconventional tactics and strategies, has emphasized the importance of strong CIWS solutions that can protect against different types of threats. Furthermore, the need for contemporary CIWS solutions is increasing due to technological advancements such as improved radar systems and automated weapons.
One major potential lies in improving short-range radar capabilities in CIWS systems. The need for efficient and trustworthy short-range detection systems will increase as military operations become more complicated and threats become more varied. This offers manufacturers a special chance to create and enhance radar technologies for CIWS solutions, thereby boosting their operational efficiency.

Key Players:
• Raytheon Technologies Corporation
• Leonardo Spa
• BAE Systems plc
• Rheinmetall AG
• ASELSAN AS
• Thales Group

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Segment Analysis

By Armament, the 30mm segment is the top choice in the market for naval platforms, as it offers a good mix of firepower and accuracy essential for precision operations. The progress of the proximity fuse will also lead to the creation of medium-caliber guided ammunition, enabling precise engagement of moving targets and neutralization of unmanned threats.

By Platform, Naval CIWS systems are becoming more important as navies around the world improve their defense capabilities to counter changing threats at sea, highlighting the critical role of CIWS in naval operations. In this scenario, the CIWS is also capable of defending the base against shell and rocket attacks. C-RAM, also known as Counter-Rocket, Artillery, and Mortar, is utilized on land as an alternative to CIWS systems.

By Armament
• 20
• 30
• 35
• 40
• Others

By type
• Gun-based CIWS
• Missile CIWS

By Technology
• Radar
• Active Homing
• Passive Homing
• Infrared
• IIR Homing
• IR Homing
• Others

By Platform
• Land-based CIWS
• Naval

Key Regional Development

The United States and Canada play a vital role in the Close-in Weapon Systems market in North America. These countries are concentrating on updating their military vehicles and improving their small-scale capabilities to address changing global threats from countries like China and Russia. American defense priorities focus on updating military systems while ensuring they remain effective in current conflicts and disaster situations.
Raytheon Technologies Corporation and other defense contractors are leading the way in modernizing CIWS technologies, obtaining significant contracts for upgrades. As an example, Raytheon received a USD 482 million contract to update the MK 15 CIWS for the U.S. Army, and the Canadian government allocated USD 570 million for maintenance and upgrades to Phalanx CIWS units. Raytheon was also given a USD 200 million contract by the U.S. Navy for the development and refurbishment of MK 15 CIWS. These investments indicate a strong outlook for the North American CIWS market, spurred by an emphasis on upgrading and readiness for future military operations.

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Recent Developments

 In March 2024, Larsen & Toubro (L&T) won a major contract to provide advanced defense radar systems and weapons to the Indian Air Force. This order is in line with the government's larger effort to update the military and strengthen national security. L&T's participation underscores its crucial position in advancing advanced military technologies, which aids in the overall expansion of the CIWS market.

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