Global Market for Small Arms
Dublin, April 25, 2022 (GLOBE NEWSWIRE) -- The "Small Arms - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Small Arms Market to Reach $9.6 Billion by 2026
The global market for Small Arms estimated at US$8.2 Billion in the year 2020, is projected to reach a revised size of US$9.6 Billion by 2026, growing at a CAGR of 2.6% over the analysis period.
Rifle, one of the segments analyzed in the report, is projected to grow at a 2.8% CAGR to reach US$5.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pistol segment is readjusted to a revised 2.4% CAGR for the next 7-year period. This segment currently accounts for a 34.2% share of the global Small Arms market.
The global count of small arms amounts to over one billion with the inclusion of the civilian sector, and is projected to display a strong growth in the future due to the increasing demand from civilians. A major part of the worldwide small arms are held by civilians due to the increasing requirement for self-defense, including non-state armed forces, private security personnel, gangs, and private citizens.
The increase in cross-border issues, regional unrest, security threats, and tense relations is expected to result in a greater product adoption at the global level. The legal provision in some countries enabling ownership of small arms by civilians for defense needs is among the major factors driving the growth of the market. Small arms have a wide usage in many countries including the U.S. owing to its low-cost. The growing use of small arms is expected to directly impact the growth of the worldwide market in the future.
The U.S. Market is Estimated at $3.7 Billion in 2021, While China is Forecast to Reach $987.4 Million by 2026
The Small Arms market in the U.S. is estimated at US$3.7 Billion in the year 2021. The country currently accounts for a 43.28% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$987.4 Billion in the year 2026 trailing a CAGR of 3.5% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.7% and 2.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR while Rest of European market (as defined in the study) will reach US$1 Billion by the close of the analysis period.
Political instability, rising participation in shooting and hunting sports, and growing demand for law enforcement and self-defense are propelling the arms market. Implementation of stringent rules related to keeping and procuring arms, and tough enforcement of laws against hunting are hindering the growth of the market. Increasing measures to eliminate terrorism is expected to create opportunities for the market.
Surging demand from civilian applications such as self-defense and sports is forecast to drive the growth of small arms market. In recent past, growing prevalence of armed violence and terrorism has driven a large number of civilians to obtain small arms to ensure their self-defense.
The same factor is also responsible for driving the law enforcement agencies and military forces across the world to make investments in order to acquire advanced weapon systems that include leading small arms such as pistols and rifles.
Factors such as growing cross-border disputes, rising wars, and surging instances of terrorism and increasing use by civilians are anticipated to propel the growth of small arms market. Several wars against the terrorist outfits, especially in Asia-Pacific and Middle-East regions are driving the enhanced procurement of small arms by law enforcement authorities and militaries.
Major small arms that are being acquired include heavy machine guns, pistols, and rifles. Stringent regulations related to use of small arms in leading nations across the world, and decreasing defense expenditures in advanced economies such as Germany, United Kingdom, Canada, and the US are the most significant factors that can restrain the growth of small arms market in upcoming years.
Specifically, strict licensing policies in the US on both civilian end users and manufacturers are especially hampering the growth in demand of small arms. The market is witnessing a growth in demand in the defense industry. The driving factor that boosts the demand for small arms is the large scale procurement of these weapons by the defense organizations to gear up their armed forces all over the world.
Other key trends include the continuous R&D activities in order to increase efficiency and upgrade current weapons, a growing trend for 3D printed firearms as well as corner shot rifles, and increasing use of SALW`s in developing nations. The growing terrorist attacks, increasing attention to counter operation, rising regional unrest, rising drug trafficking, increasing cross-border firing, shifting patterns of warfare nature, and other lawbreaking activities impact the small arms market growth.
Further, rising concerns of personal safety result in growing small arms adoption for self-defense purposes among civilians. Besides, people are taking a rising interest in activities like shooting and hunting, which also factor in the robust growth of the global small arms market growth.
For example, target shooting and trophy hunting are finding popularity in several leading countries across the world. The adoption of agile and intelligent manufacturing concepts, lightweight materials, noise suppression technology, and laser technology creates several promising opportunities for growth for the global small arms market.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Pandemic on the Military and Defense Sector
Disruptions in Military Training Inflicts Direct Blow on Guns and Weapons Market
Impact of Pandemic on the US: Increasing Pressure to Reduce Government Spending on Defense
Smart Guns Struggle to Find a Place in the US
An Introduction to Small Arms
Global Market Prospects & Outlook
Growth Driving Factors
Gun Sales in America Record New Heights
Recent Market Activity
Select Global Brands
2. FOCUS ON SELECT PLAYERS (Total 93 Featured)
Accuracy International Ltd.
Arsenal 2000 JSCo.
Beretta Holding S.p.A.
Ceska zbrojovka a.s.
Colt's Manufacturing Company, LLC
Daniel Defense LLC
Heckler & Koch GmbH
Israel Weapon Industries (IWI) Ltd.
SIG Sauer GmbH & Co. KG
Smith & Wesson Brands, Inc.
Steyr Arms GmbH
Sturm, Ruger & Company, Inc.
3. MARKET TRENDS & DRIVERS
Modernization Programs of Military to Boost Prospects
Soldier Modernization Initiatives to Fuel Demand for Small Arms
Healthy Trajectory in Arms Trade Bolsters Market
US Dominates Global Arms Race
Impact of Diversion on Small Arms Market
Growing Use in Violent Activities Amplifies Concerns over Small Arms Diversion
International Laws on Small Weapons
Increasing Expenditure on Anti-Terror Initiatives by Governments to Spark Demand for Ammunition
Continued Threat of Terrorism Drives the Focus on Surveillance as Counterterrorism Response
Surging Defense & Military Spending Worldwide: Cornerstone for Present & Future Growth
The US & Europe Steer Global Military Spending
Ever-Present Threat to Public Liberty & the Resulting Increase in Defense Spending for Peace as well as War to Indirectly Spur Growth in Demand for Small Arms
Law Enforcement End-Use Vertical Offers Lucrative Growth Opportunities
Overview of the Rifle Market, the Largest Segment: Focus on Military Rifles
Increased Spending on Defense to Boost Military Rifle Demand
Assault Rifle Demand to Spiral Because of Their Versatile Functional Abilities
Fully Automatic Rifles to Dominate the Market for Military Rifles
Gun Makers Form Joint Ventures to Expand Globally
Sniper Rifles: Primary Usage in Law-Enforcement and Military Applications
Drone Payload Gets Lethal with Integration of Sophisticated Weaponry
Concerns over Illegal Trade of Small Arms: Major Challenge
Need for Action on Gender and Small Arms Control
4. GLOBAL MARKET PERSPECTIVE
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