Overview and Scope
Small arms and light weapons refer to light weapons that are used by two or more persons as a crew such as pistols, rifles, submachine guns, assault rifles, and light machine guns.
Sizing and Forecast
The small arms and light weapons market size has grown strongly in recent years. It will grow from $13.09 billion in 2023 to $14.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rise in disposable income, emerging market growth, increase in urban warfare, increase in domestic violence, rise in military expenditure and growing incidence of drug trafficking and terrorist activities.
The small arms and light weapons market size is expected to see steady growth in the next few years. It will grow to $17 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to increasing defense spending and military modernization programs. Major trends in the forecast period include polymers to make light weapons and ammunitions, design upgradations and modularity for military-style weapons, use of 3-d printing technology for producing small arms, laser technology, day/night de camouflage technology for light weapons, and rise in mergers and acquisitions.
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Segmentation & Regional Insights
The small arms and light weapons market covered in this report is segmented –
1) By Type: Small Arms And Light Weapons
4) By Action: Manual, Semi-Automatic, Automatic
3) By Caliber: 14.5 mm, 9 mm, 12.7 mm, 5.56 mm, 14.5 mm, 7.62 mm
5) By Firing Systems: Gas Operated, Manual, Recoil Operated
2) By End-User Sector: Law Enforcement, Military & Defense, Civil & Commercial
Asia-Pacific was the largest region in the small arms and weapons market in 2023. Western Europe is expected to be the fastest-growing region in the global small arms and light weapons market during the forecast period. The regions covered in the small arms and light 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
Increased defense spending is expected to fuel the growth of the small arms and light weapons market over the forecast period. Countries around the world are investing in defense because of their conflicts and rivalries with other nations. For instance, in April 2022, according to the Stockholm International Peace Research Institute (SIPRI), a Sweden-based international research institute on arms control, arms transfers, and non-proliferation, in 2021, total global military spending was expected to increase by 0.7% in real terms to $2113 billion. This was the seventh year in a row that spending increased. Military R&D funding in the United States increased by 24% between 2012 and 2021, while China, the world’s second-largest spender, allocated an estimated $293 billion to its military in 2021, a 4.7% increase over 2020. China’s military spending has increased for the past 27 years. Therefore, increased defense spending drives the small arms and light weapons market growth.
Key Industry Players
Major companies operating in the small arms and light weapons market report are Smith & Wesson Brands, Inc, Sturm, Ruger & Company, Inc, General Dynamics Corporation, SIG Sauer, Inc, Heckler & Koch GmbH, FN Herstal S.A., Colt’s Manufacturing Company LLC, Raytheon, Thales Group, GLOCK Gesellschaft m.b.H., Israel Weapons Industry (IWI), Kalashnikov Group, Èeská Zbrojovka a.s, China South Industries Group (CSGC), China Aerospace Science and Industry Corporation (CASIC), China North Industries Group Corporation Limited (Norinco), Česká zbrojovka a.s, Berette S.p.A., Lockheed Martin Corporation, LAHAB, Textron Systems, PLR Systems Pvt Ltd, Armscor, Guns & Tactics Ltd, Magnum Arms, Guns Galore, BNTI Arms, Athena Security Inc, Protection Development International Corporation
The small arms and light weapons market report table of contents includes:
1. Executive Summary
2. Small Arms and Light Weapons Market Characteristics
3. Small Arms and Light Weapons Market Trends And Strategies
4. Small Arms and Light Weapons Market – Macro Economic Scenario
5. Global Small Arms and Light Weapons Market Size and Growth
…
32. Global Small Arms and Light Weapons Market Competitive Benchmarking
33. Global Small Arms and Light Weapons Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Small Arms and Light Weapons Market
35. Small Arms and Light Weapons Market Future Outlook and Potential Analysis
36. Appendix
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