NEW YORK, May 23, 2024 /PRNewswire/ — The global small arms market size is estimated to grow by USD 2.60 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.21% during the forecast period.
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Technavio has announced its latest market research report titled Global Small Arms Market 2024-2028
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Small Arms Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.21% |
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Market growth 2024-2028 |
USD 2.60 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
4.75 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 34% |
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Key countries |
US, China, India, Germany, and UK |
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Key companies profiled |
Adani Group, AmmoTerra, ARSENAL JSCo, Fabbrica dArmi Pietro Beretta S.p.A., Colt Manufacturing Co, LLC., EDGE Group PJSC, G Lock Perfection, Heckler and Koch Inc., Herstal SA, HS Produkt, Indian Ordnance Factories, Israel Defence, Kalyani Strategic Systems Ltd., Kongsberg Gruppen ASA, MOD Crown, Shaw Barrels, SIG Sauer Inc., Smith and Wesson Brands, Inc., Stumpp Schuele and Somappa Springs Pvt. Ltd., and Sturm Ruger and Co. Inc. |
Market Driver
The global small arms market is witnessing a significant shift towards modular firearms platforms. These systems enable users to customize and adapt their firearms for various roles and missions, including hunting, sport shooting, self-defense, and tactical applications. Key features include interchangeable components such as grips, stocks, barrels, and handguards.
Modular firearms offer adaptability to combat performance, modernization programs, and militaries, while complying with standards, anti-corruption laws, and import-export controls. Notable firearms include AR-style handguns, rifles, machine guns, snipers’ weapons, and modern sporting rifles. Firearms segments include pistols, shotguns, revolvers, and rifles. Ammunition development and military expenditure are also relevant factors.
Market Challenges
The small arms market is subject to rigorous regulatory frameworks and licensing requirements, imposed by governments globally to mitigate risks associated with firearms misuse. These regulations encompass background checks, waiting periods, and individual licensing for purchasing firearms. Manufacturers and distributors must also comply with intricate licensing, registration, and export control regulations, which differ from country to country.
These regulatory hurdles significantly increase administrative burden and operational costs for small arms manufacturers and suppliers, particularly smaller businesses. Key aspects include military expenditure, development, ammunition, modernization, handguns, revolvers, rifles, assault rifles, sniper rifles, shotguns, machine guns, mobility, lethality, territorial conflicts, terrorism, political unrest, ceasefire violations, wars, and cross-border terrorism.
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Segment Overview
End-user
1.1 Civil and commercial
1.2 Defense
Type
2.1 Rifle
2.2 Pistol
2.3 Short gun
2.4 Others
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 Middle East and Africa
3.5 South America
1.1 Civil and commercial- The small arms market is segmented by end-users, with the civil and commercial sector playing a significant role. Ceasefire violations, wars, and cross-border terrorism drive military demand, while civil end-users include individuals and non-governmental entities. These users purchase firearms for personal protection, recreational shooting, hunting, and sport shooting. Regulations vary, with stringent measures in place to ensure safety and prevent misuse.
Sales, revenues, and profit margins are influenced by administrative and criminal actions related to manufacture, transfer, possession, and public safety. Serialization and standardization are essential for tracking gun-related crimes and import-export controls. Technological advancements, anti-corruption laws, and modernization programs impact the market. Lightweight, high-performance weapons are in demand for combat, with the rifle segment including AR-style handguns, rifles, machine guns, snipers, and recoilless rifles.
Modern sporting rifles are popular for shoot-to-kill and shoot-to-injure applications. Militaries and security forces require combat-effective weapons, while illicit trafficking and terrorist activities pose challenges at international borders. Branded small arms continue to dominate the market.
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Research Analysis
The small arms market encompasses a wide range of firearms, including pistols, revolvers, rifles, shotguns, and machine guns. These weapons are utilized extensively in various sectors, such as military, law enforcement, and civilian markets. Military expenditure plays a significant role in the development and modernization of small arms technology. Handguns, like pistols and revolvers, are popular choices for personal protection and law enforcement applications.
Rifles, including assault rifles and sniper rifles, are essential for military and tactical operations. Shotguns are commonly used for hunting and close-quarters combat. Machine guns, such as the Rheinmetall MG 3 and the Uzi, provide sustained firepower in various military and law enforcement contexts. The Stockholm International Peace Research Institute reports that global military spending on small arms and ammunition continues to be a substantial investment.
Market Research Overview
The small arms market refers to the production, trade, and use of portable and individually operated firearms. These weapons are used for various purposes, including military, law enforcement, and civilian applications. The market for small arms is significant due to their widespread use and demand. Shotguns, revolvers, rifles, and pistols are the primary types of small arms. The market is driven by several factors, including technological advancements, military modernization programs, and civil unrest.
The demand for these weapons is also influenced by factors such as terrorism, organized crime, and personal security concerns. The market for small arms is diverse and complex, with various players involved in different stages of the value chain, from manufacturing to distribution and sales. The market is expected to grow in the coming years due to increasing security concerns and ongoing military modernization programs.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
End-user
Civil And Commercial
Defense
Type
Rifle
Pistol
Short Gun
Others
Geography
North America
Europe
APAC
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
