Small Arms Market Emerging Opportunities and Growth Projections 2027
The global Small Arms Market was valued at $8,900 Million in 2022 and is estimated to grow from $9,300 Million in 2023 to $11,100 Million by 2027 at a CAGR (Compound Annual Growth Rate) of 4.5%.
The increasing need for personal security, armed conflicts, and geopolitical tensions are among the primary factors driving the growth of the Small Arms Industry. Moreover, the rising instances of terrorist attacks, cross-border disputes, and asymmetric warfare have led to an increase in the demand for small arms from defense and law enforcement agencies.
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Based on End User, the civil & commercial segment is projected to lead the small arms market from 2022 to 2027. In recent years, small arms have increasingly been procured by civilians worldwide, primarily for hunting, shooting sports, and self-defense. Surge in demand was observed in North America majorly for self-defense. In North America and Europe, civilian participation in hunting and shooting sports has increased significantly over the last few years. Rising concerns over individual safety during the pandemic is also leading to the increased adoption of personal weapons. Handguns, shotguns, and rifles are majorly being used by civil and commercial end users.
Based on Type, the rifle segment is projected to lead the small arms market from 2022 to 2027. Increase in the usage of rifles by military forces and law enforcement agencies as well as civilian participation in rifle-based shooting sports across regions has led to a growth of this segment. In recent years, increased demand has been observed from armies across the world for sniper rifles, owing to the need for increased precision firing systems and the increasing number of covert operations which also assist the growth of the rifle segment in the small arms market.
Browse 461 market data Tables and 46 Figures spread through 378 Pages and in-depth TOC on “Small Arms Market by End User, Technology, Cutting Type, Firing Systems, Mode of Operation & Region – Global Forecast to 2027”
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Based on Caliber, the 9mm segment is projected to lead the small arms market from 2022 to 2027. The 9mm-based weapon is the most widely accepted small arms ammunition for both military and law enforcement applications. The 9x19mm parabellum caliber is one of the most preferred NATO-grade calibers by armed forces across the globe. Handguns used by civilians majorly chambered for 9mm thus assisting the growth of the segment.
Based on Region, the North America region is expected to lead the small arms market in 2020, by accounting for the largest share of the market. However, the Asia Pacific small arms market is projected to grow at the highest CAGR during the forecast period. North America showcases the highest demand potential for small arms, primarily due to the increased defense spending countries in the region, along with the rise in incidences of gun violence, which are driving both, law enforcement as well as civilian segments to procure small arms for counter-terrorism as well as self-defense applications, respectively. The increasing popularity of sporting and hunting activities among civilians has also led to a significantly higher demand for small arms in the North American region.
Driver:Rising investments in development of new and advanced firearms
Handguns such as pistol and revolvers, rifles such as assault rifles, snipr rifles etc, shotguns, and machine guns are witnessing heavy demand in North America, Europe, and the Middle East regions. In recent years, increased use of firearms has been observed across various end user applications like military, law enforcement, and commercial. The increasing demand has led to application-specific and technologically advanced small arms. Firearms manufactures are developing and launching different types of firearms to attract more customers and generate new revenue pockets. Continuous R&D activities are being carried out by major players in this industry to develop small arms with enhanced precision, mobility, and lethality.
Key Market Players
The Small Arms Companies are dominated by a few globally established players such as Colt’s Manufacturing LLC (US), Beretta (Italy), Smith & Wesson (US), Sturm, Ruger & Co., Inc. (US), GLOCK Ges.m.b.H. (Austria), Israel Weapons Industry (IWI) (US), Kalashnikov Group (Russia), Heckler & Koch Gmbh (Germany), and Èeská Zbrojovka a.s. (Czech Republic).
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