The Business Research Company’s Global Market Reports Are Now Updated With The Latest Market Sizing Information For The Year 2023 And Forecasted To 2032
LONDON, Feb. 16, 2023 /PRNewswire/ — As per The Business Research Company’s Small Arms And Light Weapons Global Market Report 2023, the global small arms and light weapons market size will grow from $12.07 billion in 2022 to $12.9 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The global small arms and light weapons market value is then expected to grow to $15.54 billion in 2027 at a CAGR of 4.8%. Increasing defense spending and military modernizing programs will drive the small arms and light weapons market growth in the forecast period.
Smith & Wesson Brands, Inc. was the largest competitor with a 7.44% share of the small arms and light weapons market, followed by Sturm, Ruger & Company, General Dynamics Corporation, SIG Sauer, Inc., Heckler & Koch GmbH, and others.
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Players in the small arms and light weapons market are adopting the following technologies to improve the quality of their products:
1. 3-D Printing Technology
The printed parts of a 3D printed gun can be made using a standard FDM (Fused Deposition Modeling) desktop printer. In 2019, the US Army experimented with a 3D printed grenade launcher system called RAMBO (Rapid Additively Manufactured Ballistic Ordnance). Firing 40 mm 3D printed grenades, RAMBO is modeled on the army’s M203 grenade launcher and demonstrated how rapid, localized production could bridge or replace traditional supply chains.
2. Laser Technology
Laser engraving is a good alternative to traditional stamping of numbers. Laser marking often leaves no deformations of the crystalline structure of the material, be it polymer or steel. For instance, in June 2022, Rheinmetall, a Germany-based automotive and arms manufacturer, introduced the LLM-VarioRay Laser Light Module for the German armed forces. Intended primarily for small arms carried by infantry and other dismounted operating combat forces, laser light modules are used for detecting, identifying, and marking targets.
3. Day/Night Decamouflage Technology
The day/night decamouflage technology for light weapons combines a reflex red-dot sight with thermal imaging technology to pick out targets from the background during daylight operations, allowing users to be fully aware of their surroundings while engaging targets. For example, in December 2021, French defense manufacturer, Thales, unveiled a new weapon sight called the XTRAIM, that reportedly expands a soldier’s field of view and enables improved identification of adversaries.
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The global small arms and light weapons market is segmented –
By Type: Small Arms, Light Weapons
By Application: Military, Law Enforcement
By Caliber: 14.5mm, 12.7 mm, 9 mm, 7.62mm, 5.56mm
By End-Use Sector: Defense, Civil & Commercial
By Action: Semi-Automatic, Automatic
By Firing Systems: Recoil-Operated, Gas-Operated, Manual
As per the small arms and light weapons market analysis, the top opportunities will arise in the following small arms and light weapons market segments: light weapons segment, law enforcement segment, 9 mm segment, automatic segment, gas operated segment.
In addition to adopting advanced technologies, players in the small arms and light weapons market are offering customized products to customers through the launch of new products and considering M&As for business expansion.
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