Small Arms and Light Weapons Global Market Report 2024 - By Drivers, Report, Size, Share, Forecast To 2033

The small arms and light weapons market size has grown strongly in recent years. It will grow from $13.09 billion in 2023 to $14.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rise in disposable income, emerging market growth, increase in urban warfare, increase in domestic violence, rise in military expenditure and growing incidence of drug trafficking and terrorist activities.

The small arms and light weapons market size is expected to see steady growth in the next few years. It will grow to $17 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to increasing defense spending and military modernization programs. Major trends in the forecast period include polymers to make light weapons and ammunitions, design upgradations and modularity for military-style weapons, use of 3-d printing technology for producing small arms, laser technology, day/night de camouflage technology for light weapons, and rise in mergers and acquisitions.

Market Overview -
Small arms and light weapons refer to light weapons that are used by two or more persons as a crew such as pistols, rifles, submachine guns, assault rifles, and light machine guns.

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Elevated Defense Spending Boosts Growth In 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 forecast period. Countries around the world are investing in defense because of their conflicts and rivalries with other nations. For instance, in April 2022, according to the Stockholm International Peace Research Institute (SIPRI), a Sweden-based international research institute on arms control, arms transfers, and non-proliferation, in 2021, total global military spending was expected to increase by 0.7% in real terms to $2113 billion. This was the seventh year in a row that spending increased. Military R&D funding in the United States increased by 24% between 2012 and 2021, while China, the world's second-largest spender, allocated an estimated $293 billion to its military in 2021, a 4.7% increase over 2020. China's military spending has increased for the past 27 years. Therefore, increased defense spending drives the small arms and light weapons market growth.

Competitive Landscape -
Major companies operating in the small arms and light weapons market report are 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, Raytheon, 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), Ceská zbrojovka a.s, Berette S.p.A., Lockheed Martin Corporation, LAHAB, Textron Systems, PLR Systems Pvt Ltd, Armscor, Guns & Tactics Ltd, Magnum Arms, Guns Galore, BNTI Arms, Athena Security Inc, Protection Development International Corporation

Technological Advancements Revolutionizing The Small Arms And Light Weapons Market
Growing technological advancements are 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 August 2021, MZA Associates Corp., a US-based laser weapons company, announced that they collaborated with the US military to develop a compact, portable, low-cost, and reliable C-UAS HELWS to damage or destroy unmanned aerial vehicles (UAVs) that are violating the airspace of military bases or other sensitive installations.

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Key Segments -
The small arms and light weapons market covered in this report is segmented -
1) By Type: Small Arms And Light Weapons
4) 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
5) By Firing Systems: Gas Operated, Manual, Recoil Operated
2) By End-User Sector: Law Enforcement, Military & Defense, Civil & Commercial

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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