Whilst Arsenal fans will have been celebrating on Sunday after pipping north London rivals Tottenham Hotspur to second spot in the Premier League, it's certainly been a disappointing campaign for a side that anticipated so much from this season.

A campaign without trophies and another early exit from the Champions League is not what Arsenal wanted and the fact that next season's Premier League campaign is going to be incredibly competitive means the Gunners can't afford to sit on their hands this summer.

Arsenal do have the financial strength to compete, as long as Arsene Wenger pulls his finger out, and there's no denying that the Gunners are a quality side that, with a few minor tweaks, have the capacity to contend amongst Europe's big guns.

This summer is a massive test though and Arsenal certainly have to be proactive in the transfer market, landing some quality deals ahead of the summer.

Hit the image below to see FIVE summer signings Arsenal can't afford to miss out on!

[ffc-gallery]

[/ffc-gallery]

Granit Xhaka

At the current time, it's unthinkable that Granit Xhaka will start next season anywhere apart from Arsenal given the wealth of speculation being thrown about in the media. However, until the Gunners get this deal over the line there's a risk everything could fall through.

With Mikel Arteta, Mathieu Flamini and Tomas Rosicky all saying their goodbyes this week, Arsenal are in need of upgrades in the midfield department and 23-year-old Xhaka would be an immediate boost to the squad, as well as providing a great platform for the years ahead.

Xhaka wants his future resolved before Switzerland's Euro 2016 campaign kicks-off against Albania on June 11th, so there's every chance a deal is imminent.

N'Golo Kante

Sticking with the midfield theme, another Euro 2016 star Arsenal have their sights set on is Leicester City's formidable box-to-box ace N'Golo Kante. However, they're joined in the market by some of Europe's top sides.

Arsenal face a test to get this deal over the line but if they succeed it will be a major statement of intent, adding another high-profile signing to the Gunners ranks. He has the grit and steel that Arsenal's midfield has been lacking in recent years, so it could well be a match made in heaven.

A main problem though is the fact Leicester City are intent on not selling and will demand a high price if that stance is to change.

Alvaro Morata

Alvaro Morata is likely to be on the move twice this summer, with Real Madrid ready to activate a buy-back clause in his deal with Juventus before selling to the highest bidder- and Arsenal want the Spaniard to lead their line.

Morata's record in the past few years is strong and he could be the missing piece from Arsenal's side, as support from Alexis Sanchez, Mesut Ozil and company could see the Spaniard reach a goal tally the Gunners haven't seen since Thierry Henry was in his prime.

Again though, Arsenal face competition for his services but the fact they can offer Champions League football may be decisive.

Isco

Arsenal's name has been linked with Isco for the past few years and it seems like there's actually potential in completing a deal this summer and, if so, the Gunners cannot afford to pass up the opportunity of bringing the Spanish international to the Emirates.

With the capability of playing out-wide an in central midfield, the depth Isco can provide to Arsenal will be phenomenal and he is the ready-made replacement for an ageing Santi Cazorla. A potential attacking trio of Isco, Alexis and Ozil is definitely a frightening prospect.

Real Madrid may be ready to sell but that doesn't mean Arsenal won't face problems in this deal.

Kieran Tierney

A lower profile transfer target to the others in this list, 18-year-old Kieran Tierney is definitely one for the future and if Arsenal fail to get his signature, then they're likely to see the teenager excel with a Premier League rival.

The Scottish full-back can be the understudy to the ageing Nacho Monreal on the left-side of defence, being stepping into the starting fold on a regular basis in the coming years. With Hector Bellerin on the other side, Arsenal have the opportunity to cement the wide areas of their defence for the next decade.

Celtic want to sign him down to a new deal though, whilst Arsenal face competition from sides like Liverpool for his services.