The global small arms and light weapons market size is expected to grow from $11.02 billion in 2021 to $11.47 billion in 2022 at a compound annual growth rate (CAGR) of 4.1%. The growth in the market 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 light weapons and small arms market is expected to reach $12.17 billion in 2026 at a CAGR of 1.5%.
What is the Global Small Arms and Light Weapons Market?
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.
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What drives the Global Small Arms and Light Weapons Market?
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, in December 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), the 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.
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Global Small Arms and Light Weapons Market Segments
The global small arms and light weapons market is segmented:
By Type: Small Arms, Light Weapons
By Application: Military, Law Enforcement
By Caliber: 14.5mm, 12.7 mm, 9 mm, 7.62mm, 5.56mm
By End-Use Sector: Defense, Civil and Commercial
By Action: Semi-Automatic, Automatic
By Firing Systems: Recoil-Operated, Gas-Operated, Manual
By Geography: 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, and Africa.
Small Arms and Light Weapons Global Market Report 2022provides market size and growth forecasts for the global small arms and light weapons market, global small arms and light weapons market share, small arms and light weapons market segments and geographies, small arms and light weapons market competitive landscape including leading competitors’ revenues, profiles and market shares. The small arms and light weapons market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Small Arms and Light Weapons Industry Playersinclude 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, and Alliant Techsystems. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
