Global Small Arms and Light Market is valued approximately USD 21.5 million in 2019 and is anticipated to grow with a healthy growth rate of more than 4.5 % over the forecast period 2020-2027. Small arms and Light Weapons are weapons that can be carried and operated by no more than three persons without the use of a vehicle. The Small arms are made for discrete use while light weapons are arms that are used by a crew. The rising incidents of armed violence and terrorism have propelled civilians to procure weapons for self-defense purposes driving the market growth. Further, increasing initiatives from government agencies fosters the market growth. As with the Police Modernization program and Soldier Modernization program set in Asia-Pacific and Middle eastern region creates larger market stir in market growth. For Instance: In June 2019, the Italian Ministry of Defense and Ministry of Economic Development announced to jointly invest USD 8.2 billion in the defense industry’s need for Modernization. Furthermore, the initiatives taken by countries such as Russia, US and France against terrorism is expected to increase demand. Also, increasing measures to curb the human right violations and drug trafficking also accelerates the market growth. Further, high investment in the defense Research and Development for shoulder- wired weapons made for developing a highly robust reliable and durable weapon supports the market growth. As per the Stockholm International Peace research institute (SPIRI) United States increased their defense spending by 5.3% reaching a total of USD 732 billion in 2019 as compared to their spending in 2018. Accounting for 38% of the global defense spending. However, Stringent firearm legislation across countries impedes the growth of the market over the forecast period of 2020-2027. Although, 3D printed guns and corner shot rifles a lucrative opportunity for the market.
The regional analysis of global Small Arms and Light market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the modernization of Police and Military and increasing civilian awareness for self defense. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as growing terrorism and attack on civilians would create lucrative growth prospects for the Small Arms and Light market across Asia-Pacific region.
Major market player included in this report are:
General Dynamics Corporation
FN Herstal SA
Sturm, Ruger & Co.
SIG Sauer GmbH
Colt’s Manufacturing Co. LLC
Carl Walther GmbH
Lockheed Martin Corporation
Browning Arms Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rocket Propelled Grenades
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Small Arms and Light Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers