Light Weapons Market Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights
LightWeapons Market will exhibit a CAGR of 4.67% during the forecast period, andreach USD 17.33 billion by 2027, and the Market value as per 2019was USD 12.61 billion.
FortuneBusiness Insights™ in a new report, titled, “Light Weapons MarketSize, Share & COVID-19 Impact Analysis, By Type (Heavy machineguns, MANPAT, Infantry Mortar, Anti-Tank Weapons, Recoilless Rifles, Launchers,Light Cannon, Anti-Tank Missiles, MANPADS, Grenade, Landmines), Guidance(Guided, Unguided), Application (Defense, Homeland Security), and RegionalForecast, 2020-2027.”
Light Weapons Market Drivers and Restraint:
Wide Availability and Low Cost of Weapons to Propel the Growth ofthe Market
Theweapons are majorly used by military, civilian, and police use. There areplenty of weapon suppliers around the world that manufacture weapons in avariety of configurations. With the increasing lethality of submachine guns,rapid-fire assault rifles drive the growth of the market. Furthermore, theseweapons are easily portable and concealable, thus, easier for transportation tobattlegrounds. It requires less training to operate these weapons as they arehighly durable and low maintenance. Growing contracts for light weapons frommilitary forces and homeland security for strengthening armed forces can propelthe growth of the market.
Increasing Terrorist Activities and Civilian Conflicts Drive theGrowth of the Market
Risingterrorist activities, cross border disputes, and political unrest betweenneighboring countries creates demand for light weapons. Growing militarymodernization programs and the expansion of defense forces drive the growth ofthe market. Furthermore, rising defense expenditure and increased spending onresearch and development will boost the key market. Technological advancementsin weapons manufacturing such as laser systems in light cannons increased therange of anti-tank missiles; precision-guided firearms drive the market.
List of Key Players Covered in the Light Weapons Market Report:
- ARSENAL (Bulgaria)
- BAE Systems (The U.K)
- FN HERSTAL (Belgium)
- General Dynamics Corporation (The U.S.)
- Heckler & Koch GmbH (Germany)
- Lockheed Martin Corporation (The U.S.)
- Northrop Grumman Corporation (The U.S.)
- Raytheon Technologies Corporation (The U.S.)
- Rheinmetall AG (Germany)
- Saab AB (Sweden)
- Thales Group (France)
To gain more insights into the market with a detailed tableof content and figures, Click Here: https://www.fortunebusinessinsights.com/light-weapons-market-103529
Some of the key industry developments in the LightWeapons Market Include:
- January 2020 – Canadian military forces signed a contract of worth USD 96.97 million with Colt Canada of Kitchener to supply 3,626 new C6A1 FLEX general-purpose machine guns.
- July 2019 – BCF Solutions Inc., and Trijicon Inc. had signed a contract of worth USD 48.8 million with the U.S. Army to deliver modern mounted machine gun optic for machine gunners firing the M240 and M2/M2A1, as well as the MK 19 grenade launcher.
