Global Small Arms and Light Weapons Market Set for Growth, Predicted to Reach $15.54 Billion by 2027

LANDON, GREATER LANDON, UK, December 11, 2023 /EINPresswire.com/ -- The global small arms and light weapons market is poised for expansion, with the market size expected to increase from $12.07 billion in 2022 to $12.9 billion in 2023, reflecting a compound annual growth rate (CAGR) of 6.8%. Over the forecast period, the market is projected to attain a market size of $15.54 billion by 2027, showcasing a steady CAGR of 4.8%.

Key Market Segments: Diverse Categories Catering to Varied Needs

1. Types: The market encompasses a range of small arms and light weapons, including Small Arms and Light Weapons (SALW), categorized into Small Arms and Light Weapons.
2. Applications: Usage spans across Military and Law Enforcement sectors, illustrating the versatility of these weapons across various domains.
3. Caliber: The caliber of these weapons varies, with classifications such as 14.5mm, 12.7 mm, 9 mm, 7.62mm, and 5.56mm, offering different capabilities based on their specifications.
4. End-Use Sector: The end-use sectors include Defense, Civil & Commercial, each contributing to the market's growth in unique ways.
5. Action and Firing Systems: The weapons are categorized based on their action, including Semi-Automatic and Automatic, as well as Firing Systems like Recoil-Operated, Gas-Operated, and Manual.

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Market Drivers: Increased Defense Spending Propels Growth

The primary driver for the growth of the small arms and light weapons market is the surge in defense spending globally. Countries worldwide are bolstering their defense capabilities due to geopolitical conflicts and rivalries. In 2021, total global military spending witnessed a 0.7% increase in real terms, reaching $2113 billion. This trend is expected to persist, with heightened military R&D funding in major nations like the United States and China. Increased defense spending serves as a significant impetus for the growth of the small arms and light weapons market.

Major Players and Market Dynamics

Key players shaping the market dynamics include Beretta S.p.A., FN Herstel, Smith & Wesson Holding Corporation, SIG Sauer, Carl Walther GmbH, Lockheed Martin Corporation, Thales Group, SAAB AB, Glock Ges. m.b.H., Browning Arms Company, Heckler and Koch, Sturm Ruger & Company, and Alliant Techsystems. These major industry players contribute to advancements, innovation, and strategic collaborations.

Key Trends: Embracing Technological Advancements

An emerging trend in the market is the focus on technological advancements. Major companies in the small arms and light weapons market are dedicated to developing advanced technology solutions for these weapons. For instance, collaborations between MZA Associates Corp. and the US military aim to create compact, portable, low-cost, and reliable Counter-Unmanned Aerial Systems (C-UAS) High-Energy Laser Weapons (HELWS) for countering unauthorized UAVs in sensitive airspace.

Regional Insights: Asia-Pacific Leads, Western Europe Shows Growth Potential

In 2022, Asia-Pacific emerged as the largest region in the small arms and weapons market, with Western Europe showcasing potential as the fastest-growing region during the forecast period. The regions covered in the global small arms and light weapons market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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Small Arms and Light Weapons Global Market Report 2023 from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Small Arms and Light Weapons Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on small arms and light weapons market size, small arms and light weapons market drivers and small arms and light weapons market trends, small arms and light weapons market major players, small arms and light weapons market competitors' revenues, small arms and light weapons market positioning, and market growth across geographies. The small arms and light weapons market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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