Arsenal crashed out of the Champions League at the last-16 stage for the fifth season in a row despite beating AS Monaco 2-0 at the Stade Louis II this evening.

Olivier Giroud sent the Gunners on their way by opening the scoring in the first half as they set about looking to overturn a 3-1 deficit from the first leg.

Aaron Ramsey set up a tense finale with a second 10 minutes from time, but the visitors fell one goal short as Monaco progressed on away goals following a 3-3 aggregate draw.

Here, Sports Mole takes an in-depth look at whether the Gunners deserved more for their efforts.

Match statistics

MONACO
Shots: 3
On target: 0
Possession: 29%
Corners: 0
Fouls: 13

ARSENAL
Shots: 17
On target: 7
Possession: 71%
Corners: 5
Fouls: 11

Was the result fair?

On the night, there is no doubt that Arsenal were worthy of their victory. A quick look at the statistics will tell you how dominant the Gunners were at times, but ultimately they couldn't get the job done. They certainly had the chances to get a big enough victory tonight, with Danny Welbeck, Giroud and Mesut Ozil all squandering very good opportunities, and Monaco would have had little ground for complaint had they been knocked out this evening.

The hosts actually started the better, beginning the match with the sort of urgency that was expected from Arsenal. The visitors were patient, however, and grew into the game to eventually take complete control. Monaco seemed fairly content with that due to their two-goal lead, but the pressure was relentless at times and they were playing a dangerous game in inviting Arsenal to try to break them down. With the exception of a five-minute spell midway through the second half, it was almost entirely one-way traffic for the Gunners after the interval.

In terms of the tie as a whole, however, Arsenal can't have too many complaints at being eliminated. They have paid the price for such a lacklustre performance in North London three weeks ago and Monaco will feel that their efforts at the Emirates warranted their display today. The Gunners could have - perhaps should have - progressed with some of the chances they created tonight, but Monaco just about did all they needed to do.

Monaco's performance

Monaco may well have taken Arsenal by surprise with the way they started this match. They got onto the front foot whenever possible and weren't shy in committing men forward in search of an early goal that could have served to quell any possible resistance from the visitors. That spell only lasted around 15 minutes, however, and from that point on they were comfortably second best and seemingly happy to come away with a defeat as long as they still progressed.

That is fair enough as they did the hard work in the first leg to give themselves margin for error tonight, but it was a risky ploy from Leonardo Jardim's men. They were unable to play their usual game and at times seemed even more anxious about the aggregate score than Arsenal. After the first goal they panicked in defence and launched aimless long balls forward, gifting possession back to Arsenal and allowing the pressure to increase.

They lacked composure on the ball and that became increasingly evident as the match wore on. They were fortunate not to be punished by the Gunners in the closing stages as they invited the relentless pressure. In the end, they managed to hold out for a result that sees them into the next round, but it wasn't exactly a performance that will have the rest of Europe worried. They were impressive in the first leg but almost threw it all away tonight and they will do very well to make it any further in the competition.

Arsenal's performance

The Gunners left themselves with a mountain to climb after such a tepid and uninspiring performance in the first leg, but they came within a whisker of becoming the first team in Champions League history to overhaul a two-goal deficit in an away second leg tonight. They started the match slowly and for a while it seemed like the expected rally may never materialise, but as soon as they settled into the match they were comfortably the better side.

They increased the tempo of their passing and started to pick the ball up in more dangerous areas, creating enough openings to have completed the job. Monaco rode their luck at times, but Arsenal will still feel that they should have wrapped this one up. There was a particularly good chance late on as Giroud and Alexis Sanchez were queuing up at the back post, but they couldn't squeeze it over the line and the hosts survived again. As expected, they kept fighting to the death, but fell just short.

Had they played like this over both legs then they would be in the last eight for the first time since 2010 right now, but the damage had already been done before tonight. It wasn't the perfect performance this evening, but Arsene Wenger will be pleased with the character shown by his side at the very least. It is another disappointing result at this stage of the competition for them, but they went down fighting.

Sports Mole's man of the match

Olivier Giroud: After his poor showing in the first leg, Giroud would have gone into this match even more determined to make a difference. He did that tonight, providing a good focal point for the attack as Arsenal continually pushed forward. He took his goal well and linked up with those around him nicely all evening.

Biggest gaffe

It is perhaps a little harsh, but we're going to pick on Sanchez and Giroud for missing a glorious chance late on. Both were at the back post and unmarked as a free kick arrived, but they failed to convert from close range.

Referee performance

Svein Moen made a number of controversial decisions throughout the evening. Most of them were the award of a throw-in or free kick in an unthreatening position, but Arsenal were left feeling aggrieved when Sanchez went down in the box, only to be booked for diving. The Chilean seemed to trip himself up, so the ref was right to wave the penalty claims away, but a card was harsh.

What next?

Monaco: Monaco are back in domestic action on Sunday as they face Reims.

Arsenal: Arsenal, meanwhile, travel to St James' Park to face Newcastle United on Saturday.