Despite boasting a staggering 21 goals from their last five Premier League games - including 11 from their last two - it is no secret that the Gunners are targeting a marquee number nine for 2024-25.
Mikel Arteta allowed Folarin Balogun to depart permanently for Monaco last summer, leaving Gabriel Jesus and Eddie Nketiah as his two recognised central options, but injuries and inconsistency have plagued the former.
Nketiah has also been consigned to a backup role under Arteta, and Leandro Trossard has been preferred in the number nine role for fixtures with West Ham United and Burnley, scoring in both of them.
Kai Havertz - regularly deployed at the tip of the Chelsea attack - has featured up front for Arsenal on occasion this term, but the German predominantly arrived to plug the gap in midfield left by Granit Xhaka's move to Bayer Leverkusen.
In spite of Trossard's recent feats in front of goal, the Belgian is not considered a long-term solution to Arsenal's number nine quandary, and the Gunners did not spend a single penny in January with Financial Fair Play and their summer striker pursuit in mind.
According to Spanish outlet Fichajes, Gunners chiefs have now decided to prioritise a deal for Aston Villa marksman Watkins and are preparing to lodge an official bid for the Englishman this summer.
The former Brentford man has been integral to the Lions' push for Champions League football in the 2023-24 campaign, hitting double figures in both goals (13) and assists (12) from 25 top-flight matches.
Despite the additional fatigue from Europa Conference League football, Watkins has made the starting lineup in all of Aston Villa's Premier League games this term and was on target twice during Saturday's 2-1 triumph over Fulham.
The 28-year-old is the only player in the Premier League with at least 10 goals and assists in the current campaign, and he is fourth in the Golden Boot race behind Erling Haaland (16), Mohamed Salah (15) and Dominic Solanke (14).
Amid the growing interest in his services, Aston Villa agreed a new long-term contract with Watkins back in October, and the England international's current terms do not expire until the summer of 2028.
As a result, the Lions are well-placed to demand an extortionate fee for the striker, and the report adds that offers may need to hit €100m (£85.6m) to be taken into consideration.
Such a fee would represent a major profit on the €34m (£29.1m) that Aston Villa paid Brentford to take Watkins off their hands in 2020, since when the former Exeter City man has recorded 61 goals and 25 assists in 151 games for the Lions in all tournaments.
Watkins has seemingly been identified as an alternative target to current Brentford man Ivan Toney, whom Arsenal have been considered one of the favourites to sign alongside Chelsea in the upcoming transfer window, when he will enter the last year of his deal.
Bees boss Thomas Frank has resigned himself to losing Toney, but it has now been rumoured that Arsenal have reservations about a swoop for the England international and could therefore turn their attention to other strikers this summer.