Dublin, Aug. 11, 2021 (GLOBE NEWSWIRE) -- The "Small Arms and Light Weapons Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global small arms and light weapons market is expected to grow from $24.44 billion in 2020 to $25.05 billion in 2021 at a compound annual growth rate (CAGR) of 2.5%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $31.05 billion in 2025 at a CAGR of 5.5%.
Major players in the small arms and light weapons market are Beretta S.p.A.; FN Herstel; Smith & Wesson Holding Corporation; SIG Sauer; Carl Walther GmbH.; GLOCK Ges m.b.H; Colt's Manufacturing Company LLC; Lockheed Martin Corporation; and Thales Group.
The small arms and light weapons market consists of sales of small arms and light weapons by entities (organizations, sole traders, and partnerships) that produce small arms and light weapons. Only goods and services traded between entities or sold to end consumers are included.
The growing technological advancements is a major trend gaining popularity in the small arms and light weapons market. Major companies operating in the small arms and light weapons market are focused on developing advanced technology solutions for small arms and light weapons. For instance, in July 2018, ZKZM, a china-based laser company developed a portable laser rifle named ZKZM-500 laser assault rifle. The laser assault rifle ZKZM-500 does not kill but can set fire from a large distance to clothes and skin and weights just 3 kg.
In September 2020, Sturm, Ruger and Company, an America based company that manufactures rugged, reliable firearms for the commercial sporting market acquired Marlin Firearms assets for $30 million. The acquisition will help Sturm, Ruger and Company to widen their diverse product offerings. Marlin Firearms, an America based arms manufacturing company.
Increased defense spending is expected to fuel the growth of the small arms and light weapons market over the coming years. Countries around the world are investing in defense because of their conflicts and rivalry with other nations.
For instance, on December 20, 2019, the Japanese government signed off on its defense budget of $48.5 billion for the next financial year, amidst increasing conflicts with Asia-Pacific. According to current results from the Stockholm International Peace Research Institute (SIPRI), overall global defense budget increased to $1917 billion in 2019. Therefore, the increased defense spending drives the growth of the small arms and light weapons market.
The strict government legislation against possession of firearms is expected to impede the development of the small arms and light weapons market in the coming years. Countries around the world have tightened their weapons laws, making it much more challenging for regular people to own a firearm, as mass shooting events are on the rise. According to the Gun Violence Archive (GVA), there have been over 33,000 reports of criminal attacks executed with firearms in 2019 alone.
The Weapons (Amendment) Bill, 2019 specifies that those who use firearms in celebratory gunfire in a reckless or careless manner, risking human life or personal protection of others, are liable for two-year imprisonment or a fine which may extend to $0.0014 million (1 lakh) or with both. Therefore, the strict government legislation against possession of firearms restraints the growth of the small arms and light weapons market.
Key Topics Covered:
1. Executive Summary
2. Small Arms and Light Weapons Market Characteristics
3. Small Arms and Light Weapons Market Trends and Strategies
4. Impact of COVID-19 on Small Arms and Light Weapons
5. Small Arms and Light Weapons Market Size and Growth
5.1. Global Small Arms and Light Weapons Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Small Arms and Light Weapons Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Small Arms and Light Weapons Market Segmentation
6.1. Global Small Arms and Light Weapons Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Small Arms
- Light Weapons
6.2. Global Small Arms and Light Weapons Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Military
- Law Enforcement
6.3. Global Small Arms and Light Weapons Market, Segmentation by Caliber, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- 14.5mm
- 12.7 mm
- 9 mm
- 7.62mm
- 5.56mm
6.4. Global Small Arms and Light Weapons Market, Segmentation by End-Use Sector, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Defense
- Civil & Commercial
6.5. Global Small Arms and Light Weapons Market, Segmentation by Action, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Semi-Automatic
- Automatic
6.6. Global Small Arms and Light Weapons Market, Segmentation by Firing Systems, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Recoil-Operated
- Gas-Operated
- Manual
7. Small Arms and Light Weapons Market Regional and Country Analysis
7.1. Global Small Arms and Light Weapons Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Small Arms and Light Weapons Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- Beretta S.p.A.
- FN Herstel
- Smith & Wesson Holding Corporation
- SIG Sauer
- Carl Walther GmbH.
- GLOCK Ges m.b.H
- Colt's Manufacturing Company LLC
- Lockheed Martin Corporation
- Thales Group
- SAAB AB
- Glock Ges. m.b.H.
- Browning Arms Company
- Heckler and Koch
- Sturm Ruger & Company
- Alliant Techsystems
For more information about this report visit https://www.researchandmarkets.com/r/ai89lm
