What Has Been the Progress and Growth of the Small Arms and Light Weapons Market in Recent Years?
The small arms and light weapons market has seen considerable growth due to a variety of factors.
• There has been significant growth in the market size of small arms and light weapons in the past few years. It is projected to expand from $10.51 billion in 2024 to $11.25 billion in 2025, showcasing a compound annual growth rate (CAGR) of 7.1%.
The growth during the historical period can be linked to factors such as increase in disposable income, growth in emerging markets, rise in urban conflicts, heightened domestic violence, an upsurge in military spending and the mounting incidents of drug trafficking and terrorist activities.
What is the Forecasted Growth of the Small Arms and Light Weapons Market Size?
The small arms and light weapons market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the market size of small arms and light weapons is predicted to witness robust growth. It is projected to escalate to $14.02 billion by 2029, registering a compound annual growth rate (CAGR) of 5.6%.
The projected growth in this timeframe can be ascribed to the escalating defence expenditures and military upgrade programs. Key trends seen in the forecast timeframe include the use of polymers in light weapons and ammunition making, design enhancements and modularity in military-grade weapons, the application of 3-D printing techniques in small arms production, laser technology, day/night de camouflage technology for light weapons, and an uprise in mergers & acquisitions.
What Are the Critical Driver Fuelling the Small Arms and Light Weapons Market's Growth?
The small arms and light weapons market is predicted to expand due to a rise in defense expenditure during the forecast period. The escalating conflicts and rivalries between nations are causing countries globally to increase their defense investments. The Stockholm International Peace Research Institute (SIPRI), for example, revealed in April 2024 that the approximate global military spending in 2023 was about $2.24 trillion. America persistently has one of the highest military expenditures at an estimated $1 trillion. Meanwhile, in response to the escalating geopolitical tension, the budgets for Asia and Oceania have been increasing, tallying up to around $563 billion. Europe has also notably increased its military expenditure to address security concerns, nearing $500 billion. In contrast, Africa's military spending remains comparatively low at approximately $51 billion. As a result of increased defense expenditure, the small arms and light weapons market is expected to see significant growth.
What Is The Segmentation Of The Global Small Arms and Light Weapons Market?
The small arms and light weapons market covered in this report is segmented –
1) By Type: Small Arms And Light Weapons
2) By Action: Manual, Semi-Automatic, Automatic
3) By Caliber: 14.5 mm, 9 mm, 12.7 mm, 5.56 mm, 14.5 mm, 7.62 mm
4) By Firing Systems: Gas Operated, Manual, Recoil Operated
5) By End-User Sector: Law Enforcement, Military & Defense, Civil & Commercial
Subsegments:
1) By Small Arms: Handguns, Rifles, Submachine Guns, Shotguns
2) By Light Weapons: Machine Guns, Grenade Launchers, Mortars, Anti-Tank Weapons
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What Emerging Trends Are Shaping The Small Arms and Light Weapons Market?
Leading businesses involved in the small arms and light weapons industry are concentrating on planned collaborations to boost security measures and regulate illicit arms transactions, with the objective of establishing a more unified approach to arms management. Such strategic collaborations refer to alliances that capitalize on the capabilities and assets of multiple entities to attain shared objectives. For example, in February 2024, the United Nations Development Programme (UNDP), an organization based in the United States and part of the United Nations, unveiled a joint venture with the Ministries of Interior/Internal Affairs of Tirana and Pristina, together with the National SALW Commissions. The initiative aims at reinforcing cross-border cooperation and bolstering institutional setups for small arms and light weapons (SALW) regulation. This collaboration aims to tackle the problem of illegal arms trafficking and misuse in the Western Balkans by focusing on enhancing capabilities, introducing modern surveillance technologies, and improving data-sharing procedures among law enforcement entities to promote regional security and stability.
Who Are the Key Players in the Small Arms and Light Weapons Market?
Major companies operating in the small arms and light weapons market include:
• Smith & Wesson Brands. Inc
• Sturm
• Ruger & Company. Inc
• General Dynamics Corporation
• SIG Sauer. Inc
• Heckler & Koch GmbH
• FN Herstal S.A.
• Colt's Manufacturing Company LLC
• Thales Group
• GLOCK Gesellschaft m.b.H.
• Israel Weapons Industry (IWI)
• Kalashnikov Group
• Èeská Zbrojovka a.s
• China South Industries Group (CSGC)
• China Aerospace Science and Industry Corporation (CASIC)
• China North Industries Group Corporation Limited (Norinco)
• Berette S.p.A.
• PLR Systems Pvt Ltd
• Armscor
• Guns & Tactics Ltd
• Magnum Arms
• Guns Galore
• BNTI Arms
• Athena Security Inc
• Protection Development International Corporation
What are the Regional Insights into the Small Arms and Light Weapons Market?
Asia-Pacific was the largest region in the small arms and weapons market in 2024. Western Europe is expected to be the fastest-growing region in the global small arms and light weapons market during the forecast period. The regions covered in the small arms and light weapons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
