Small Arms Market To Witness Significant Growth By 2018-2028 with prominent key players - Smith & Wesson, Sturm etc
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Market Size – USD 8.59 Billion in 2020, Market Growth – at a CAGR of 2.3%, Market Trends – Increasing demand for weapons from defense sector
VANCOUVER, BC, CANADA, May 16, 2022 /EINPresswire.com/ -- The global small arms market size is expected to reach USD 10.32 Billion at a steady CAGR of 2.3% in 2028, according to latest analysis by Emergen Research. Rise in terrorist activities and increase in cross-border security are some key factors driving market revenue growth. Increasing need for deployment of military personnel at military bases and sensitive locations and infrastructure and international borders and rising focus on modernization of weapons and ammunition are other key factors fueling growth of the global small arms market.
In addition, spike in instances of cross-border conflicts, increasing number of armed law enforcement troops and recruitment of new taskforce battalions, and asymmetric warfare and intercountry conflicts are some other key factors driving growth of the market to a significant extent. Furthermore, reduced manufacturing costs of guns due to rising use of 3D printing technologies and systems, growing demand for smart guns, and increasing usage of polymer in the arms industry are some other factors expected to continue to support market revenue growth going ahead.
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Major Players/Manufacturers profiled in the report are:
Smith & Wesson, Israel Weapons Industry, Kalashnikov Group, Colt’s Manufacturing LLC, Sturm, Ruger & Co., Inc., GLOCK Ges.m.b.H, Lockheed Martin Corporation, Raytheon, General Dynamics Corporation, and Carl Walther GmbH.
Some Key Highlights from the Report
Shotguns are used for small and fast moving targets, often while they are in the air. This type of weapon is most commonly used in sporting and hunting, and is popular for rabbit and small animal, and bird hunting. Use of smoothbore shotgun with a rifled barrel slug improves accuracy to 100 m or more, and this is a popular option, which is driving demand for and revenue growth of the shotgun segment.
Semi-automatic weapons are a civilian version of military machine guns, and is less capable of rapid fire. Even though the forearm reloads automatically, users must pull the trigger to fire another round. Pistols, shotguns, and rifles are semi-automatic weapons. Self-loading rifles provides the possibility of increasing the number of effective shots fired at a given time.
The defense segment accounted for the largest revenue share in 2020 due to increase in defense budget in countries across the globe and modernization programs of military forces. Surge in cross border drug trafficking activities will also fuel growth of the defense segment going ahead. Rising incidence of domestic violence is also expected to continue to drive demand for small arms among law enforcement agencies.
North America accounted for largest revenue share in 2020 due to increased defense budget, purchase of advanced weapons for combat operations, and high number of shooting ranges in countries in the region. Moreover, the presence of key market players such as General Dynamics Corporation, Lockheed Martin Corporation, and Smith & Wesson will continue to support growth of the North America small arms market going ahead.
In May 2020, FN America, LLC announced its contract to supply M16A4 carbines to the U.S. army for five years at a firm-fixed-price Foreign Military Sales (FMS). The contract has a potential to reach USD 383 million.
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Emergen Research has segmented the global small arms market on the basis of type, caliber, technology, action, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Revolver
Pistol
Shotgun
Rifles
Machine Gun
Others
Caliber Outlook (Revenue, USD Billion; 2018–2028)
9 mm
56 mm
62 mm
7 mm
5 mm
Others
Technology Outlook (Revenue, USD Billion; 2018–2028)
Guided
Unguided
Action Outlook (Revenue, USD Billion; 2018–2028)
Automatic
Semi-automatic
End-use Outlook (Revenue, USD Billion; 2018–2028)
Defense
Military
Law Enforcement
Civil & Commercial
Hunting
Sporting
Self-defense
Others
The regional analysis states the global market is bifurcated into North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. The report also covers import export consumption, supply and demand ratio, cost, pricing analysis, gross margin, and revenue estimation of each player in each region. The report also offers a country-wise analysis of the key regions to offer a better understanding of the global market.
Regional Segmentation Covers:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Small Arms market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Small Arms market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.
Key Reasons to Buy This Report:
The report presents a thorough examination of the Small Arms market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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Small Arms Market Size Worth USD 10.32 Billion in 2028
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