Small Arms And Light Weapons Global Market Report 2022: Sector to Reach $19.08 Billion by 2031

DUBLIN, Jan. 27, 2023 /PRNewswire/ -- The "Small Arms And Light Weapons Global Market Opportunities And Strategies To 2031" report has been added to  ResearchAndMarkets.com's offering.

The global small arms and light weapons market reached a value of nearly $11,023.9 million in 2021, having grown at a compound annual growth rate (CAGR) of 2.4% since 2016. The market is expected to grow from 11,023.9 million in 2021 to $16,911.5 million in 2026 at a rate of 8.9%. The market is then expected to grow at a CAGR of 2.5% from 2026 and reach $19,088.4 million in 2031.

Growth in the historic period resulted from rise in disposable income, rise in merger and acquisition activity, emerging markets growth, increase in urban warfare, increasing domestic violence, and increasing military expenditure. The market was restrained by coronavirus pandemic and defense budget reductions in developed nations.

Going forward increasing incidence of drug trafficking and terrorist activities, increasing defense spending, and increasing military modernization programs. Factor that could hinder the growth of the small arms and light weapons market in the future include strict government legislation against possession of firearms.

The small arms and light weapons market is segmented by type into small arms and light weapons. The light weapons market was the largest segment of the small arms and light weapons market segmented by type, accounting for 58.2%% of the total in 2021. Going forward, the light weapons segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by type, at a CAGR of 9.7% during 2021-2026.

The small arms and light weapons market is also segmented by end user into military and defense, law enforcement, and civil & commercial. The law enforcement market was the largest segment of the small arms and light weapons market segmented by end user, accounting for 47.1% of the total in 2021. Going forward, the law enforcement segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by end user, at a CAGR of 9.2% during 2021-2026.

The small arms and light weapons market is also segmented by caliber into above 14.5mm, 14.5mm, 12.7 mm, 9mm, 7.62 mm, 5.56 mm and small more than 14.5 mm. The more than 14.5 mm market was the largest segment of the small arms and light weapons market segmented by caliber, accounting for 30.8% of the total in 2021. Going forward, the 12.7 mm segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by caliber, at a CAGR of 9.7% during 2021-2026.

The small arms and light weapons market is also segmented by action into manual and semi-automatic and automatic. The manual and semi-automatic market was the largest segment of the small arms and light weapons market segmented by action, accounting for 54.2% of the total in 2021. Going forward, the automatic segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by action, at a CAGR of 12.0% during 2021-2026.

The small arms and light weapons market is also segmented by firing systems into recoil-operated, gas-operated and manual. The gas operated market was the largest segment of the small arms and light weapons market segmented by firing systems, accounting for 45.4% of the total in 2021. Going forward, the recoil operated segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by firing systems, at a CAGR of 11.5% during 2021-2026.

The small arms market is also segmented by small arms into pistol, revolver, rifles, shotgun, other small arms. The pistol market was the largest segment of the small arms and light weapons market segmented by small arms, accounting for 14.3% of the total in 2021. Going forward, the riffles segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by small arms, at a CAGR of 8.4% during 2021-2026.

Asia Pacific was the largest region in the small arms and light weapons market, accounting for 33.2% of the total in 2021. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the small arms and light weapons market will be Eastern Europe, and, North Americs where growth will be at CAGRs of 26.7%% and 9.1%% respectively. These will be followed by Asia-Pacific and South America where the markets are expected to grow at CAGRs of 9.1% and 5.5% respectively.

Market Trends

• Polymers Are Being Used To Make Light Weapons And Ammunitions
• Design Upgrades And Modularity For Military-Style Weapons
• Use Of 3-D Printing Technology For Producing Small Arms
• Laser Technology Gaining Popularity In This Sector
• Day/Night Decamouflage Technology For Light Weapons

A selection of companies mentioned in this report includes

• Smith & Wesson Brands Inc.
• Sturm, Ruger & Company Inc.
• General Dynamics Corporation
• SIG Sauer Inc.
• Heckler & Koch GmbH

For more information about this report visit https://www.researchandmarkets.com/r/hwqw5m-arms-and?w=5

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SOURCE Research and Markets