Pierre-Emerick Aubameyang and Alexandre Lacazette have been key players for Arsenal this season.
The duo have scored 40 goals between them in all competitions so far this term.
Aubameyang has netted 19 times in the Premier League, level with Mohamed Salah and Sergio Aguero as the top-flight’s leading marksmen.
Manchester United’s two main strikers Marcus Rashford and Romelu Lukaku have scored 28 between them, whereas Chelsea’s Olivier Giroud, Gonzalo Higuain and now-departed Alvaro Morata have a combined 25 goals.
Horncastle was asked if Arsenal’s position in the Premier League was a true reflection of their performances.
“Have Arsenal been worse than their results suggest?” asked presenter James Richardson.
And Horncastle claimed the goals of Aubameyang and Lacazette are the reason the Gunners are in a good chance of finishing in the top four.
He reckons United and Chelsea would love to have strikers of that ilk in their team.
“I think if you look at some of the advanced analytics, xG [expected goals], just as it’s catching up with United, I think to some extent it’s caught up with Arsenal as well,” Horncastle told Premier League Productions.
“I think in many respects they’ve been able to get around it because they have got some very good individual finishers at that club.
“Players who can win things in the blink of an eye.
“Be it Mesut Ozil with his unique chop shot and be it Aubameyang and Lacazette who are two outstanding centre-forwards.
“You look at Chelsea, they would envy the two of them.
“United at the moment I think would envy the two of them as well.
“And to some extent they’re players with bigger reputations than the ones that Spurs have got as well.
“Obviously [Harry] Kane has a massive reputation here but in general.
“So I think to some extent they’ve got them out of trouble.”