Global Small Arms Market Size To Worth USD 13.23 Billion By 2032 | CAGR of 4.3%
Category: Aerospace & DefenseGlobal Small Arms Market Size To Worth USD 13.23 Billion By 2032.
According to a research report published by Spherical Insights & Consulting, the Global Small Arms Market Size is to grow from USD 8.69 billion in 2022 to USD 13.23 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.3% during the projected period. Increasing modernized weapon advances and rising civilian demand for small arms are the primary factors driving market expansion.
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Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Small Arms Market Size, Share, and COVID-19 Impact Analysis, By Type (Pistol, Revolver, Rifle, Machine Gun, Shotgun, and Others), By Caliber (5.56MM, 7.62MM, 9MM, and Others), By Operation (Automatic, Semi-Automatic, Manual), By End user (Defense, Civil & Commercial, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/small-arms-market
Small arms are specialized weapons that anyone can use for self-defense and recreation. Small arms are employed by individuals in the armed forces and law enforcement to refer to various weapons such as rifles, shotguns, pistols, and similar equipment. Weapons are most commonly used in sporting events, hunting, and self-defense, and these markets are expected to grow rapidly in the future. Governments all over the world have imposed restrictions and guidelines on the purchase and use of small arms. The expansion of small arms in sporting events, as well as the rise in demand for small arms for self-defense applications, are important drivers of global growth in small weapons. Several businesses are working to build intelligent weapons that will improve operational accuracy, efficiency, and dependability. To prevent unauthorised users, smart weapons are outfitted with fingerprint readers, Radio Frequency Identification (RFID) chips, biometric sensors, and other cutting-edge technologies. Authorised users assist prevent criminal activity and violence by only using smart guns. When biometric sensors identify a fingerprint, grip, or palm print, the pistol is activated. The market is predicted to be driven in the future by increased demand for smart weapons due to enhanced features such as quick access, fingerprint authentication, long battery life, and others.
The rifle segment is expected to hold the largest share of the global small arms market during the forecast period.
The global small arms market is divided into several types, including pistols, revolvers, rifles, machine guns, shotguns, and others. The rifle segment will likely account for the majority of the global small arms market throughout the forecast period. Demand for assault rifles and sniper rifles has increased significantly in comparison to other small arms as a result of global modernization programs, assisting in the expansion of the rifle segment.
The 5.56MM caliber segment is expected to grow at the fastest pace in the global small arms market during the forecast period.
The global small arms market is divided into calibers: 5.56MM, 7.62MM, 9MM, and others. The 5.56MM caliber segment is projected to expand at the highest pace in the global small arms market throughout the forecast period. The growing popularity of small arms chambered in 5.56mm can be attributed to the expansion of the 5.56mm caliber segment.
The automatic segment is expected to grow at the fastest pace in the global small arms market during the forecast period.
The global small arms market is classified into automatic, semi-automatic, and manual operations. The automatic segment is projected to expand at the highest rate in the global small arms market throughout the forecast period. Automatic mode is frequently used in military and law enforcement applications because it allows for the quick and efficient neutralization of hostile forces or targets.
North America accounted for the largest share of the global small arms market in 2022.
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North America's market share is growing as a result of the country's growing defense budget and the issue of self-defense, particularly in the United States. Furthermore, lax gun laws and the easy availability of small arms are significant growth drivers for this market.
The APAC region is projected to expand at the fastest CAGR throughout the forecast period of 2022-32, as governments in countries such as India and China simplify regulations to encourage the production of small weapons. Furthermore, rising FDI in defense in India and China's government's goal of broad geographical expansion for defense purposes are emerging as significant expansion drivers.
Major vendors in the Global Small Arms Market include Colt’s Manufacturing LLC, Beretta, Smith & Wesson, Sig Saur GmbH, Remington Arms Company LLC, FN Herstal, Sturm, Ruger & Co., Inc., GLOCK Ges.m.b.H., Israel Weapons Industry (IWI), CheyTac LLC, Kalashnikov Group, Heckler & Koch Gmbh, Èeská Zbrojovka a.s., Barret Firearms, Springfield Armory Inc., and Others.
Recent Developments
- In April 2022, The United States Army selected next-generation squad weapon rifles and machine gun variants, as well as 6.8mm ammunition. The army eventually intends to purchase 107,000 M5 rifles and 13000 M250 machine guns from Sig Sauer. The USD 4.7 billion contract was awarded to produce weapons and 6.8mm ammunition over the next several years.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Small Arms Market based on the below-mentioned segments:
Global Small Arms Market, By Type
- Pistol
- Revolver
- Rifle
- Machine Gun
- Shotgun
- Others
Global Small Arms Market, By Caliber
- 5.56MM
- 7.62MM
- 9MM
- Others
Global Small Arms Market, By Operation
- Automatic
- Semi-Automatic
- Manual
Global Small Arms Market, By End user
- Defense
- Civil & Commercial
- Others
Global Small Arms Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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