NEW YORK, April 6, 2016 /PRNewswire/ -- "Increasing civilian use of small arms for shooting sports and self-defense is a major factor driving the small arms market growth, globally"
The global small arms market is expected to grow from an estimated USD 4.09 billion in 2015 to USD 4.92 billion by 2020, at a CAGR of 3.8% from 2015 to 2020. The market for small arms is driven by several factors, such as rising number of wars and cross-border disputes, rise in terrorism, and increasing civilian use of small arms for sports and self-defense, globally.
"Sports segment to witness highest growth during the forecast period"
The key end users considered for the market study are military, law enforcement, hunting, sports, and self-defense. The sports segment is estimated to grow at the highest CAGR during the forecast period. This rapid growth can be attributed to the increasing civilian participation in shooting sports, such as target shooting, rifle shooting, handgun shooting, and so on, globally.
"North America dominates; Asia-Pacific to grow at the highest rate"
The North American region dominates the global small arms market as of 2015, and is expected to continue its dominance during the forecast period of 2015 to 2020. The U.S. is considered to be the largest market for small arms, primarily owing to the high military expenditure, impacts of terrorism, rising armed violence in the country, and so on, thereby resulting in the large share of the North American region in the global small arms market.
The market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. This rapid growth can be attributed to the increasing procurement of advanced sniper rifles, assault rifles, heavy machine guns, and pistols, among others, by military forces and law enforcement agencies in the region, primarily as part of their modernization programs as well as for advanced combat and counter-terrorist operations.
"Break-up of profile of primary participants for the small arms market"
- By Company Type - Tier 1 – 35 %, Tier 2 – 45% and Tier 3 – 20%
- By Designation – C level – 35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 30%, APAC – 20%, RoW – 5%
The major companies profiled in the report include Orbital ATK (U.S.), Smith & Wesson Holding Corp. (U.S.), Sturm, Ruger, & Co. Inc. (U.S.), Freedom Group (U.S.), and Forjas Taurus S.A. (Brazil), among others.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analysis —industry analysis (industry trends, and PEST analysis), market-share analysis of top players, supply-chain analysis, and company profiles, which together comprise and discuss the basic views on competitive landscape, emerging and high-growth segments of the small arms market, high-growth regions and countries and their respective regulatory policies, government initiatives, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on small arms offered by the top 10 players in the global small arms market
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the small arms market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyses markets for small arms across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global small arms market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global small arms market
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