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Small Arms in general do not have a universal definition of their own but can be referred to any weapons which are compact, man-portable and which can be used by individuals; or sometimes crew members. These include but are not limited to: revolvers, self-loading pistols, rifles, carbines, sub-machine guns, assault rifles and light machine guns. This market, from around $5 Billion in 2019 is estimated to reach at around $6.6 Billion by the end of 2027 at an approximate CAGR of 3.96%.
The growth of this market is attributed towards the growth of various related factors such as increase in participation in hunting, shooting sports, rise in demand for self-defense, law enforcement, increase in terrorist activities and political instability etc.
Moreover, increase and development in the 3D printing technology in the form of DMLS and FDM, bring to the industries; advantages such as improved efficiency, higher customization levels, material saving, prototyping and design etc. Also with this, Smart Guns are being introduced to the market with integrated fingerprint readers, biometric-sensors, radio frequency identification and other functions to eliminate unauthorized access to these weapons, making the industry as a whole relatively safer in regards to the ever exposing illicit trading taking place on a global scale.
Furthermore, the Covid-19 pandemic has stretched up the sales to a new high because of the rise in demand in self-defense concerns, with The U.S. being the country having the highest number of firearms in civilian hands after an all-time high sales in March, 2020. At the same time, it has also hindered the growth of the market in terms of sales because of restriction in supply across borders and also pertaining to the government orders regarding public safety.
Therefore, all-in-all, with already over one billion small arms distributed globally, advancement in technologies, growing civilian demands and needs, controlling terrorism, strengthening of military, law enforcement are all factors that direct this market towards a growth level which is targeted to be on a safer side for the best interest of the public and for meeting necessities that ought to be fulfilled.
SMALL ARMS MARKET SEGMENTATION:
Global Small Arms Market, By Application
Global Small Arms Market, By Type
Global Small Arms Market, By Technology
Global Small Arms Market, By Caliber
Global Small Arms Market, By Cutting Type
Global Small Arms Market, By Firing Systems
Global Small Arms Market, By Region
The Asia-Pacific region is expected to exhibit remarkable growth in the small arms market during the next decade or so. This rapid growth can be seen as a result of the increasing military expenditures of major economies in the region, including China and India, high number of wars and cross-border disputes in the region, rising civilian participation in shooting sports, and increasing investments by governments for modernization of military as well as law enforcement forces. The market holding of small arms by civilians in major countries of this region is reported to be above 200 million.
The North American Region is set to be the largest market capturer in the global small arms market as a result of increasing number of shooting ranges, combat operations, high defence budget, presence of key market players in the U.S and Canada.
With the European and the LAMEA region expected to see moderate amount of growth, the global market could, however, be affected by certain major restraints in the coming years, which could include strict regulations across major countries of the world, and declining defense budgets of advanced economies of the world, such as the U.S., Canada, the U.K., Germany, and so on.
FEW KEY PLAYERS IN SMALL ARMS MARKET:
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global small arms market by the following segments:
- Cutting Type
- Firing Systems
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Small Arms Industry Report
The report offers a comprehensive insight on the Small Arms Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.