July 17, 2020
As per the report titled ‘Global Small Arms Market Analysis, 2020’, available with Market Study Report LLC, global small arms market is poised to record substantial gains, growing with a CAGR of 3% over 2020-2025.
Increasing government support to manufacture small arms, escalating investments made in defense sector, and widespread adoption of arms for self-defense against criminal activities are driving the growth of global small arms market. Inclination towards hunting and recreational activities is augmenting the market outlook.
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Based on product type, the market categorized into shot gun, machine gun, rifle, revolver, and pistol. The rifle segment held majority market share in 2019 owing to benefits offered such as greater visibility, higher accuracy, affordable pricing, and ease of operation over its counterparts.
By end-user spectrum, the military segment recorded majority share of global small arms market in 2019 and is expected to continue trend through 2025. Parallelly, civilians segment is poised to gain substantial traction over the forecast period. Increasing number of shooting competitions across countries like India, U.S, China etc. along with rising need of self-defense strategies due to increasing violence and terrorism are enhancing the demand for small arms among civilians.
On the basis of operation, semi-automatic segment held notable market share in 2019, owing to widespread usage of these arms across sports and leisure application areas. Additionally, easy operation of semi-automatic guns is catalyzing the segmental growth.
Based on regional landscape, global small arms market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Among these, North America recorded majority market shares in 2019, as United States is the manufacturing hub. Surging investments in the defense sector and problems pertaining to self-defense coupled with lenient gun laws, and easy availability of small arms will further enhance the market outlook.
Meanwhile, Asia-Pacific market is poised to record notable CAGR over 2020-2025, as governments in countries like India and China are relaxing rules to encourage manufacturing of small arms. Also, surging FDI in defense sector in India and governments aiming for geographical expansion for defense purposes are stimulating the market scenario.
The major companies operating in global small arms market are Orbital ATK Inc., Sturm, Ruger & Co., Inc., Smith & Wesson Holding Corp., Heckler & Koch GmbH, SIG Sauer, GLOCK Ges.m.b.H, Remington Arms Company LLC, and Freedom Group among others.