Overview and Scope
Light weapons refer to weapons designed for use by two or three persons serving as a crew can be carried and used by a single person. These are incendiary devices, crew-served kinetic firearms, or shoot explosive munitions.
Sizing and Forecast
The light weapons market size has grown strongly in recent years. It will grow from $12.13 billion in 2023 to $13.27 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to counter-terrorism operations, law enforcement needs, small arms proliferation, geopolitical tensions, firearms trade.
The light weapons market size is expected to see strong growth in the next few years. It will grow to $18.53 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to unmanned aerial systems (uas), biosecurity threats, global health crises, chemical and biological protection threats, demilitarization initiatives. Major trends in the forecast period include modular weapon systems, non-lethal weaponry, miniaturization and compact design, integration of electro-optical sights, remote weapon stations (rws).
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The light weapons market covered in this report is segmented –
1) By Type: HMG, Light Cannon, MANPAT, Mortar, MANPAD, Grenades, Missiles, Launcher, ATW, Landmine
2) By Application: Defense, Homeland Security
3) By Technology: Guided, Unguided
4) By Materials: Steel, Polymers
North America was the largest region in the light weapons market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the light weapons market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in instances of terrorist activities and conflicts and the rise in the number of illegal activities will propel the growth of the light weapons market. Terrorist acts entail the use or threat of violence to instil fear in a large number of people, not only the direct victims. Light weapons such as pistols, rifles, submachine guns, assault rifles, and light machine guns are used by law regulators to control terror activities. As terrorist activities, conflicts, and illegal activities grow, there will be an increased demand for light weapons to mitigate them. For instance, in March 2023, according to Global Terrorism Index (GTI) 2023, the number of deaths more than doubled, albeit from a low base from nine deaths in 2021 to 19 in 2022, with 11 of these occurring in the US during terrorist attack. Thus, the increasing instances of terrorist activities and conflicts and the rise in the number of illegal activities will contribute to the growth of the light weapons market.
Key Industry Players
Major companies operating in the light weapons market include Lockheed Martin Corporation, Alliant Techsystems Inc., Rheinmetall AG, Raytheon Technologies Corporation, Thales Group, BAE Systems plc, Northrop Grumman Corporation, General Dynamics Corporation, FN Herstal Group, Heckler & Koch GmbH, Kalashnikov Concern, SIG Sauer Inc., Colt’s Manufacturing LLC, Beretta SpA, Smith & Wesson Brands Inc., Barrett Firearms Manufacturing Inc., Taurus Holdings LLC, Savage Arms, Steyr Arms, IWI Ltd., Springfield Armory Inc., Ceská zbrojovka AS, Mauser Jagdwaffen GmbH, Radom LLC, Serbska Fabrika Automobila, Arsenal Inc., Zastava Arms, China North Industries Group Corporation Limited., HS Produkt d.o.o.
The light weapons market report table of contents includes:
1. Executive Summary
2. Light Weapons Market Characteristics
3. Light Weapons Market Trends And Strategies
4. Light Weapons Market – Macro Economic Scenario
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31. Global Light Weapons Market Competitive Benchmarking
32. Global Light Weapons Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Light Weapons Market
34. Light Weapons Market Future Outlook and Potential Analysis
