Small Arms Market to Reach USD 13.41 Billion by 2031, Driven by Defense Modernization and Next-Generation Weapon Programs, Reports Mordor Intelligence

HYDERABAD, India, Sept. 17, 2026 /PRNewswire/ -- According to the latest report by Mordor Intelligence, the small arms market size is projected to grow from USD 10.75 billion in 2026 to USD 13.41 billion by 2031, registering a 4.53% CAGR. Rising defense spending and military modernization are encouraging demand for newer, modular, and more adaptable weapon systems, while civilian firearm demand continues to support the market. Major procurement programs, including the US Army's Next Generation Squad Weapon initiative, highlight the shift toward advanced small arms capable of meeting changing operational requirements. Across Asia-Pacific, efforts to strengthen local defense production and supply chains are further influencing market development. 

Small Arms Market Trends and Drivers 

Rising Civilian Demand for Personal-Protection Firearms: Civilian demand for firearms remains steady, supported by continued interest in personal protection and changing ownership patterns. Consumers are showing greater interest in compact, optics-ready pistols, while demand for related accessories, optics, ammunition, and training services is also increasing. This steady civilian market provides manufacturers with a more consistent revenue base alongside fluctuating military procurement cycles.  

Rising Defense Procurement Driven by Military Modernization: Military modernization programs are increasing demand for advanced small arms with greater range, accuracy, and armor-penetration capabilities. Procurement initiatives in countries such as Canada and India are supporting the adoption of newer rifle platforms and larger calibers, including 6.8 mm and 7.62 mm systems. Similar requirements among NATO members and Middle Eastern customers could further support procurement activity, creating sustained opportunities for manufacturers and component suppliers. 

"Mordor Intelligence's small arms market assessment combines current market data, segment analysis, regional coverage, and company-level research within a consistent estimation framework. This approach provides decision-makers with a structured basis for comparing market developments and interpreting demand across key end-user segments." says Phani Kumar, Senior Research Manager, Mordor Intelligence. 

Small Arms Market Share by Region 

Asia-Pacific is emerging as a key growth region for the small arms market, supported by rising defense production and efforts to strengthen domestic capabilities. Countries such as India, the Philippines, South Korea, Japan, and Australia are expanding local manufacturing and upgrading their small arms programs. China is also advancing its domestic platforms, although geopolitical conditions continue to limit its export potential. 

North America continues to represent an important market for small arms, supported by steady civilian demand and ongoing military procurement. Modernization initiatives in the United States and Canada are driving interest in newer weapon platforms, while differing firearm regulations across countries create varied market conditions. Continued demand for firearms and related aftermarket products also supports manufacturers across the region. 

Check out more details and stay updated with the latest industry trends, including the Japanese version for localized insights: https://www.mordorintelligence.com/ja/industry-reports/small-arms-market?utm_source=prnewswire 

Small Arms Industry Segmentation 

By Type 

• Pistols 

• Revolvers 

• Rifles 

• Machine Guns 

• Shotguns 

• Other Types 

By Caliber 

• 5.56 mm 

• 6.8 mm 

• 7.62 mm 

• 9 mm 

• 12.7 mm 

• Other Calibers 

By Operation 

• Manual 

• Semi-automatic 

• Fully Automatic 

By End User 

• Civil and Law Enforcement 

• Military 

Small Arms Industry Companies 

• Smith & Wesson Brands, Inc. 

• Sturm, Ruger & Co., Inc. 

• SIG SAUER, Inc. 

• FN Browning Group 

• Fabbrica d'Armi Pietro Beretta S.p.A. 

• Heckler & Koch GmbH 

• GLOCK Gesellschaft m.b.H. 

• Colt's Manufacturing Company LLC 

• Browning International S.A. 

• Kalashnikov Concern JSC 

• Barrett Firearms Manufacturing Inc. 

• Benelli Armi S.p.A. 

• Česká zbrojovka a.s. 

• Taurus Holdings, Inc. 

• Israel Weapon Industries (IWI) Ltd. 

• STEYR ARMS GmbH 

• Armscor International, Inc. 

• Springfields, Inc. 

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SOURCE Mordor Intelligence Private Limited