Small Arms Market: Global Size, Share, Trends, Growth and Forecast 2022-2032
Small Arms Market: Overview and Definition
The global small arms market was valued at USD 8.5 billion in 2021 and is expected to reach at 16.1 billion by 2032, growing at a CAGR of 4.5% between the forecast period from 2022 to 2032. 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.
The small arms market is a global industry that includes the production and trade of firearms such as pistols, rifles, shotguns, and submachine guns. It is a highly lucrative market, with estimated global sales of over $8 billion per year. The largest producers and exporters of small arms are the United States, Russia, and China. The demand for small arms is driven by a range of factors including personal protection, hunting, sporting events, law enforcement, and military operations. However, the proliferation of small arms also raises concerns about security, crime, and human rights violations. As a result, there are a range of international treaties and agreements aimed at regulating the trade and use of small arms.
Small Arms Market: Key Drivers
There are several drivers that influence the small arms market, including:
- Demand from military and law enforcement agencies for weapons and ammunition
- Interest in firearms for personal protection and self-defense
- Growth in hunting and shooting sports, particularly in emerging markets
- Political instability and conflict, which often drive demand for small arms in conflict zones
- Technological advancements, such as improved materials and manufacturing techniques, leading to better performance and lower costs
- Relaxation of regulations in certain markets, making it easier to buy, sell, and own firearms.
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: Challenges
The small arms market faces a number of challenges, including:
- Tightening regulations and restrictions on the production and trade of small arms, particularly in response to concerns over illicit arms trafficking and the misuse of weapons.
- Increasing competition in the marketplace, which can put pressure on manufacturers to reduce prices and compromise on quality.
- Public perceptions of firearms and their role in society, which can lead to calls for tighter controls and more stringent safety measures.
- Supply chain disruptions, such as raw material shortages, transportation issues, and trade restrictions, that can impact production and delivery schedules.
- The ongoing threat of piracy and intellectual property theft, which can damage the bottom line for manufacturers and deter innovation.
- The potential for reputational damage or legal liability if firearms are misused or linked to criminal activity.
Small Arms Market : Report Scope
Base Year Market Size
Forecast Year Market Size
Small Arms Market: Segmentation
Global Small Arms Market, By Application
- Law Enforcement
Global Small Arms Market, By Type
- Machine Gun
Global Small Arms Market, By Technology
Global Small Arms Market, By Caliber
Global Small Arms Market, By Cutting Type
- Smooth Bore
Global Small Arms Market, By Firing Systems
Global Small Arms Market, By Region
- North America
- LAMEA (Latin America, Middle East and Africa ).
Small Arms Market: Regional Synopsis
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.
Small Arms Market: Key Players
- Smith & Wesson Holding Corp. (U.S.)
- Sturm, Ruger, & Co., Inc. (U.S.)
- Freedom Group (U.S.)
- Fabricca Darmi Pietro Beretta
- Colt Manufacturing Company LLC.
- HS Produkt
- Israeli Weapon Industries
- SIG Sauer
- Orbital ATK (U.S.)
Small Arms Market: Recent Developments
In April 2019, The U.S customs and border protection signed a contract with Glock, Inc. worth $85 million to provide next generation standard duty handgun for CBP law enforcement personals.
In December 2019, French Ministry of Defense signed a contract of worth $ 111.74 million with FN Herstal to provide around 2,600 semi-automatic sniper rifles chambered for 7.62 x51 mm, 3.15 million armor-piercing rounds, 3.15 million match-grade rounds, 1,800 night-vision sights and 1000 thermal weapon sights.
In Sep 2020, Russia’s Central Research Institute of Precision Engineering were reported to develop a new collimator sight with advantages including a quick releasing mechanism, monolithic body without additional adapters and screws, original adapter mechanism, ability to use two power supply and many more.
In October 2020, Small Arms Commission revealed that there was a surge in demand for small arms in Ghana because of the citizen’s lack of trust in their army and as a result of taking personal safety into their own hands.