The light weapons market accounted for a market value of $10.21 billion in 2016 and is expected to reach $12.28 billion by 2021 with military end-user holding the highest share.
The demand for light weapons is swiftly increasing among different end-users across the globe. The market is driven by several factors, such as increasing terrorist incidents, rising instability in Middle-East and Africa, and military modernization programs, among others.
The Anti-Tank Guided Weapons (ATGWs) market accounts for a large share in overall revenue generated. The high share of ATGW is mainly attributed to the growing need for the guided weapons across defense agencies. During the forecast period, the grenade launchers market is expected to grow at a faster rate in comparison with other types.
North America is expected to dominate the market during the forecast period (2017-2021) which is followed by Asia Pacific, Europe, and Rest of the world. The United States is the leading country in the light weapons market, globally, and is expected to maintain its dominance during the forecast period. Asia Pacific is expected to grow at the highest CAGR with China dominating the market in this region. This region is growing at a much faster rate as compared to North America and Europe due to continuous efforts by both the government and light weapons manufacturers.
Some of the key players in the light weapons market include: Lockheed Martin, Orbital ATK, Raytheon, General Dynamics, BAE Systems, FN Herstal, Heckler and Koch, Thales Group, Saab AB, Rafael Advanced Defense Systems, Elbit Systems, among others.
Key Topics Covered:
1 Research Scope & Methodology 1.1 Scope of the Report 1.2 Light Weapons Market Research Methodology
2 Market Dynamics 2.1 Market Drivers 2.1.1 Increase in Conflicts and Terrorism Activities 2.1.2 Increasing Defense Spending by Asia Pacific Nations 2.2 Market Challenges 2.2.1 Illicit Brokering of Light Weapons 2.2.2 Increasing Proliferation of Light Weapons 2.3 Market Opportunities 2.3.1 Military Modernization Programs 2.3.2 Growing Demand from Developing Nations
3 Competitive Insights 3.1 Competitive Landscape 3.2 Key Strategies and Developments 3.2.1 Contracts 3.2.2 Partnerships, Agreements, Joint Ventures and Collaborations 3.2.3 Other Developments 3.3 Competitive Benchmarking and Market Players Ranking
4 Industry Analysis 4.1 Regulatory Overview 4.2 Lifecycles of Small Arms and Light Weapons (SALW) 4.3 Small Arms and Light Weapons Imports and Exports by Country 4.4 PESTLE Analysis 4.5 Value Chain Analysis
5 Global Light Weapons Market, 2017-2021 5.1 Assumptions and Limitations 5.2 Market Overview
6 Global Light Weapons Market by Type 6.1 Market Overview 6.2 Anti-Tank Guided Weapons 6.3 Anti-Aircraft Missile 6.4 Rocket Launchers 6.5 Man-Portable Air Defense System (MANPADS) 6.6 Heavy Machine Guns 6.7 Light Cannons 6.8 Recoilless Rifles 6.9 Grenade Launchers 6.1 Mortars 6.11 Grenades 6.12 Rocket Propelled Grenades
7 Global Light Weapons Market by End-User 7.1 Market Overview 7.2 Military 7.3 Homeland Security