DALLAS, July 10, 2015 /PRNewswire/ --
According to a new market research report on the "Small Arms Market by Product [Pistol, Rifle-Carbine (Assault, sniper, etc), and Machine Gun], Firing System (Gas, Recoil, Manual), Mechanism (Auto, Semi-auto, Select-Fire, Manual), Category, Caliber, Application, Geography, Training & Simulation Forecast & Analysis - 2020", published by MarketsandMarkets, the market is expected to register growth with a CAGR of 4.17% and reach $5,299.61 Million by the end of 2020. The major challenges faced by the small arms market are licensing and regulatory policies and procedural issue for owning and exporting & importing Small Arms.
Browse more than 104 market data Tables with 87 Figures spread through 200 Pages and in-depth TOC on "Small Arms Market"
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North America contributes largely to the small arms market and the Asia-Pacific region is expected to be the potential market for commercial and defense small arms during the forecast period.
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The Small Arms Market is growing due to technological efficiency associated with the use of small arms, and better technological innovations that have created a demand for the guns, for civil and commercial applications. The cold wars, territorial disputes and political conflicts are driving the small arms market in defense applications. Reduced defense budget in the North American and European countries has been hampering the growth of this market; whereas the civil and commercial market will continue to grow rapidly. The licensing and regulatory policies and procedural issues are expected to constrain the small arms market. Investments are being made to increase their operational efficiency and provide light weight and smart guns.
The introduction of the binary codded barrels is expected of curb the illicit trading of the small arms. The technological advancements in manufacturing small arms are expected to further reduce the weapon cost. The shooting sport and self-defense guns are expected to witness high demands globally.
- The small arms market is expected to show a strong growth during the study period, with the increase in demand for small arms in the civil and commercial sector
- The market has been segmented based on products, namely pistols, rifles & carbines, and machine guns; based on firing systems, namely gas operated, recoil operated, & manual operated; based on mechanism, namely automatic, semi-automatic, select fire, & manual; applications such as defense, commercial, & homeland security: based on categories such as lethal & non-lethal; based on geography
- With the use of small arms for self-defense, sport shooting, hunting, climate & pollution monitoring, border security operations, and military, the demand for small arms is expected to drive this market
- The demand for small arms is expected to be triggered by the rising cold wars, territorial disputes and political conflicts
- Licensing and regulatory policies and procedural issue of owning and exporting & importing small arms, can be some of the challenges of this market
- The non-lethal small arms market will be driven by the innovative technological advancements
Strum, Ruger & Co., Inc. (U.S.), Alliant Techsystems, Inc. (U.S.), Smith & Wesson Holding Corporation (U.S.), Freedom Group (U.S.), and Colt Manufacturing Company, LLC (U.S.) are the key players in the small arms, globally and account for more than 40% of the total market share. General Dynamics Corporation (U.S.), Glock GES.M.B.H. (Austria), Heckler & Koch GmBH (Germany), Indian Ordnance Factories (India), Arsenal Jsco. (Bulgaria), Fabbrica D'Armi Pietro Beretta S.P.A. (Italy), Israel Weapon Industries (Israel), Taurus (Brazil), FN Herstal (Belgium), and Zakłady Mechaniczne Tarnów S.A. (Poland) are other prominent players in the small arms market.
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