Increasing political tensions around the world has led to the adoption of various new technologies by countries with an aim of strengthening national security. To defend the nation from external threats, countries over the years, have strengthened their army’s capabilities. Moreover, the increasing land disputes across the borders have compelled the nations to strengthen their armed forces by importing and developing weapons. Moreover, increase in crime rate has given rise to increase in small arms procurement in civilians for self-defense. Since the 13th century, firearms have undergone a massive transformation with respect to design and operation.
Read Report Overview: Global Small Arms Market
Scope of the Small Arms Market
The Small Arms Market provides detailed market information for segmentation such as gun type, cutting type, operation type, caliber, end user, and region. The purpose of this market analysis is to examine the Small Arms in terms of factors driving the market, trends, technological developments, and competitive benchmarking, among others.
The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contribution of the key players operating in the market. While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the industry that is analyzed.
Global Small Arms Market Forecast, 2020–2025
The global small arms market is expected to witness static growth during the forecast period 2020–2025, due to the rising demand from civilian and hunting & sporting industries. A wide-range of firearms has been procured by the armed forces of various nations in regions such as North America, Europe, and Asia-Pacific, among others to protect their countries from wars, conflicts, and terrorist activities. Of late, with the rising interests of people in activities such as hunting and shooting along with the rising concern for personal defense, the small arms industry has been observing a robust growth. For instance, trends such as trophy hunting or target shooting have become popular in major countries around the world. Moreover, the various regions of the world are increasing their defense expenditure to be more stable and competitive at the global level. The increasing defense budget of the countries is one of the factors that expected to drive the growth of global small arms market.
According to BIS Research analysis, the global small arms market generated $8.05 billion in 2019 and is estimated to grow at a CAGR of 5.50%, during 2020–2025. North America dominated the global small arms market in 2019, with the U.S. acquiring the most significant market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period, 2020–2025.
Key Companies in the Small Arms Market
The key market players in the Small Arms Market include Browning International S.A., Sig Sauer Inc., Colt’s Manufacturing Company, Beretta Arms Company, FN Herstal, Singapore Technologies Engineering Ltd., Taurus Holdings Inc, Glock Inc., Remington Outdoor Company, Heckler & Koch AG, American Outdoor Brands Corporation (Smith & Wesson), Israel Weapon Industries (IWI), Kalashnikov Concern, O.F. Mossberg & Sons, and Sturm, Ruger & Co, among others.
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Key Questions Answered in this Report:
• The study examines the prime demand-side factors, which affect the growth of the market, along with the current and future trends, market drivers, restraints, and challenges prevalent in the global small arms market.
• Who are the key players in the global small arms market and what is the competitive benchmarking?
• A detailed market share analysis has been included in this report which focuses on the -key developments and strategies, followed by the top players. Additionally, competitive strength of the players in the global small arms market has also been analyzed in the study.
• What is the revenue generated through small arms under different segments including (gun type, cutting type, operation type, caliber, and end user) in 2019, and what are the estimates for 2025?
• Which region will contribute to the highest revenue of the global small arms market during the forecast period?
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