The Business Research Company’s Automatic Weapons Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Automatic Weapons Global Market Report 2023 evaluates automatic weapons market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global automatic weapon market is expected to grow from $7.71 billion in 2022 to $8.54 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automatic weapon market is expected to reach $12.36 billion in 2027 at a CAGR of 9.7%.
Increasing military expenditure is expected to propel the growth of the automatic weapon market going forward. Military expenditure is the amount spent on weapons, weapons systems, operations, maintenance, personnel, and other specific military equipment. Government spending on the military would support the development of various aspects of the military market, including automatic weapons. For instance, in March 2023, according to the United States Air Force (USAF), a US-based agency for the Air Force, the US Air Force’s fiscal year 2024 budget request is roughly $215.1 billion, a $9.3 billion or 4.5% increase over fiscal year 2023. Therefore, increasing military expenditure drives the automatic weapon market.
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The automatic weapons market segments in the report are:
1) By Product: Automatic Rifle, Machine Gun, Automatic Launchers, Automatic Cannon, Gatling Gun
2) By Caliber: Small, Medium, Large
3) By End-User: Land, Airborne, Naval, Handheld And Stationary
The table of contents in TBRC’s automatic weapons market report includes:
- Executive Summary
- Automatic Weapons Market Characteristics
- Automatic Weapons Market Trends And Strategies
- Automatic Weapons Market – Macro Economic Scenario
5.1. Global Automatic Weapons Historic Market Size and Growth, 2017 – 2022, Value ($ Billion)
- Automatic Weapons Market Segmentation
- Automatic Weapons Market Regional And Country Analysis
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- Brazil Automatic Weapons Market
- Middle East Automatic Weapons Market
- Africa Automatic Weapons Market
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