The Global Small Arms Market Analysis, 2020 market research report depicts a deep-dive market analysis of statistics of the Global Small Arms market, which consists of region-wise market analysis of market size, market forecast, CAGR market segmentation, market shares of various types, operations, end-users, cutting type, caliber, technology, etc.
Global Small Arms Market Outlook
According to the MarkNtel Advisors’ research report titled “Global Small Arms Market Analysis, 2020”, the Small Arms market across the globe is estimated to grow at the CAGR of 3% during 2020-25. The major key factors contributing to the growth of the global small arms are increasing government support in the manufacturing of small arms, increasing defense budget in various countries, and growing adoption for self-defense against criminal activities.
Asia-Pacific is Expected to Register the Highest CAGR in the Coming Years
In 2019, North America acquired the majority of the total market share. The US, being the largest manufacturer of arms, is the regional growth engine and is actively contributing to the growth of the market size of the North America Small Arms market. The market share of North America is increasing on an account of the surging defense budget and the issue of self-defense in the country, especially in the US. Moreover, lenient gun laws and easy availability of small arms also act as major growth drivers for this market.
However, the APAC region is expected to rise at the highest CAGR during the forecast period of 2020-25, as the governments in countries such as India and China are simplifying the rules to boost the manufacturing of small weapons. Furthermore, increasing FDI in defense in India and the government’s aim for extensive geographical expansion for defense purposes in China are emerging as the major growth drivers.
Furthermore, the Rifle segment captured the major market share in 2019, owing to the benefits of rifles, such as greater visibility, high accuracy, reasonable pricing, and ease of use over the other types such as pistols and revolvers.
Military Segment is Estimated to Capture the Major Market Share
In 2019, the Military grabbed the major market share and a similar trend is expected in the forecast period as well. Moreover, the growing demand for hunting and recreation activities is pushing the sales of small arms across the globe. An increase in the number of shooting competitions in various countries such as India, China, US. etc., coupled with the emerging need for self-defense due to increasing armed violence and surging terrorism activities are resulting in the increasing market share due to civilian purchases.
Based on the operation, the semi-automatic type was the key market segment in 2019. The market share of semi-automatic type is surging on an account of the rising need from the sports and leisure application areas. Moreover, the ease of use of semi-automatic guns for civilians is one of the key contributing factors for the growth in the overall market share, as stated in the MarkNtel Advisors’ research report “Global Small Arms Market Analysis, 2020”.
According to MarkNtel Advisors, the Global Small Arms market is highly fragmented. The availability of numerous local and foreign players in various countries makes the industry highly competitive. The key players with a considerable market share in the industry are Orbital ATK, Smith & Wesson Holding Corp., Sturm, Ruger, & Co., Inc., Freedom Group, Heckler and Koch GmbH, GLOCK Ges.m.b.H, SIG Sauer, and Remington Arms Company LLC, among others. The companies are forging strategic alliances to gain a competitive edge and increase their respective market shares in the industry. For instance, Belgium-based manufacturer of small arms, FN Herstal, partnered with NATO Support and Procurement Agency to provide rifles and machine guns.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Global Small Arms Industry?
2. What are the country-wise industry size, growth drivers and challenges, and key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Global Small Arms market?
4. Who are the key competitors or market players and how they perform in the Small Arms benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of the Global Small Arms market study?