Overview and Scope
The shoulder fired weapons refer to a weapon that is shot while being held in the hands and having its butt pressed up against a shoulder.
Sizing and Forecast
The shoulder fired weapons market size has grown rapidly in recent years. It will grow from $7.19 billion in 2023 to $8.06 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to military modernization programs, counter-terrorism and insurgency operations, geopolitical conflicts and regional tensions, infantry and special operations requirements, law enforcement and homeland security needs.
The shoulder fired weapons market size is expected to see rapid growth in the next few years. It will grow to $12.32 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to emerging security threats, shift in military doctrine, urban warfare considerations, upgrades and replacements, international defense collaborations. Major trends in the forecast period include advancements in seeker technologies, rapid development of counter-countermeasure systems, growing interest in non-line-of-sight capabilities, enhanced multi-role capabilities, integration of networking and communication technologies.
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Segmentation & Regional Insights
The shoulder fired weapons market covered in this report is segmented –
1) By Type: Guided, Unguided
2) By Component: Launcher, Ammunition
3) By Application: Defense, Home Security, Others
North America was the largest region in the shoulder fired weapons market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shoulder fired weapons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in defense expenditures is expected to drive the shoulder-fired weapons market. The defense expenditure is increasing to remain in power and secure the position of a country. Armed forces use shoulder-fired weapons throughout the world for defense and safety. The use of shoulder-fired weapons gives a considerable advantage to troops by engaging targets without worrying about the strike’s accuracy and the weapon’s weight. According to the Stockholm International Peace Research Institute (SIPRI), India’s military spending grew to USD 76.6 billion in 2021, a 0.9% rise over the previous year. Therefore, an increase in defense expenditure drives the shoulder-fired weapons market.
Key Industry Players
Major companies operating in the shoulder fired weapons market report are China North Industries Group Corporation, Raytheon Company, Lockheed Martin Corporation, General Dynamics Corporation, BAE Systems plc, Thales Group, Singapore Technologies Engineering Ltd., Rheinmetall AG, Saab AB, Rafael Advanced Defense Systems Ltd., Poongsan Corporation, Nordic Ammunition Company, John Cockerill, Chemring Group plc, Fabrique Nationale Herstal S.A., Mesko S.A., Bharat Dynamics Limited, Denel Land Systems, Forjas Taurus S.A., IMI Systems Ltd., JSC Arsenal AD, AirTronic USA LLC, Instalaza S.A., Basalt Infrastructure Partners LLP, Roket Sanayii ve Ticaret A.S., Matra BAe Dynamics, JSC Konstruktorskoe Buro Priborostroeniya, Giat Industries SASU
The shoulder fired weapons market report table of contents includes:
1. Executive Summary
2. Shoulder Fired Weapons Market Characteristics
3. Shoulder Fired Weapons Market Trends And Strategies
4. Shoulder Fired Weapons Market – Macro Economic Scenario
5. Global Shoulder Fired Weapons Market Size and Growth
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32. Global Shoulder Fired Weapons Market Competitive Benchmarking
33. Global Shoulder Fired Weapons Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Shoulder Fired Weapons Market
35. Shoulder Fired Weapons Market Future Outlook and Potential Analysis
36. Appendix
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