Small Arms Market Development, Industrial Growth, Regional Analysis, Alternatives, Analysis and Forecast, 2020-2028
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Small Arms Market Size – $ 8.59 billion in 2020, Market Growth – at a CAGR of 2.3%, Market Trends – Increasing Demand for Defense Weapons
VANCOUVER, BC, CANADA, Nov 22, 2021 /EINPresswire.com/ – Increasing investment in modernizing the military and defense sectors is a key driver of the growth of the global small arms market
According to the latest analysis by Emergen Research, the global small arms market is projected to reach $ 10.32 billion in 2028 at a constant CAGR of 2.3%. The increase in terrorist activity and the increase in cross-border security are some key factors driving the growth in market revenue.
The growth of the market is driven by the increase in domestic violence and crime, coupled with the implementation of various gun laws that allow civilians to own certain weapons for self-defense purposes. Domestic violence is a global problem affecting 35% of women worldwide. More than 5,000 honor killings are reported annually, while experts believe the real numbers are much higher. Increasing cases of robberies, break-ins and bank robberies, as well as kidnapping attempts in various developed and developing countries are some other key factors leading to an increasing need for personal weapons for self-defense and security purposes.
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Global Small Arms Market: Competitive Outlook
With a primary focus on the growth trajectories of each market segment, the report examines in detail the operating patterns of each market competitor, such as partnerships and collaborations, mergers and acquisitions, and product launches. In addition to describing the vast competitive landscape of the Small Arms market, the report estimates the CAGR for the market on the projected time frame.
Key market players include Smith & Wesson, Israel Weapons Industry, Kalashnikov Group, Colt’s Manufacturing LLC, Sturm, Ruger & Co., Inc., GLOCK Ges.mbH, Lockheed Martin Corporation, Raytheon, General Dynamics Corporation and Carl Walther GmbH.
Some key highlights from the report
FN America, LLC announced its five-year, fixed-price Foreign Military Sales (FMS) contract to supply the US Army with M16A4 carbines. The contract has a potential of $ 383 million.
Shotguns are used for small and fast moving targets, often while in the air. This type of weapon is most commonly used in sports and hunting, and is popular in rabbit and small animal hunting, as well as bird hunting. Using a smooth-barreled shotgun with a rifled barrel improves accuracy to 100m or more, and this is a popular option that is fueling demand for and sales growth in the shotgun segment.
Semi-automatic weapons are a civil version of military machine guns and are less capable of rapid fire. Although the forearm will automatically reload, users will have to pull the trigger to fire another round. Pistols, shotguns, and rifles are semi-automatic weapons. Self-loading rifles offer the possibility of increasing the number of effective shots at a given time.
The Defense segment accounted for the largest share of revenue in 2020 due to increases in defense budgets in countries around the world and armed forces modernization programs. The rise in cross-border drug trafficking will also fuel future growth in the defense segment. The increasing incidence of domestic violence is also expected to further fuel demand for small arms from law enforcement agencies.
The results of the report explain various aspects of the market such as: B. Market status, development prospects, important regional segments, renowned market participants, product offerings, end-use sectors.
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North America had the largest share of sales in 2020 due to the increased defense budget, the purchase of advanced weapons for combat operations, and the high number of shooting ranges in the countries of the region. In addition, the presence of key players in the market such as General Dynamics Corporation, Lockheed Martin Corporation and Smith & Wesson will continue to support the growth of the North American small arms market in the future.
Key regions covered in the report:
Middle East & Africa
The latest research report specializes in the in-depth analysis of the macroeconomic and microeconomic factors influencing global small arms market development. The report also focuses on the regulatory framework that will shape the future of the world market. The report also detailed new and existing pricing structures, new areas of application and upcoming investment opportunities. The report summarizes the significant impact of the coronavirus pandemic on the small arms industry and its key segments. The study therefore examines the grave impact of the pandemic on this industry, its leading players, distribution channels, supply chains and the general economic landscape.
Emergen Research has segmented the global Small Arms Market by Type, Caliber, Technology, Action, End Use, and Region:
Type Outlook (Revenue, Billion USD; 2018-2028)
Caliber Outlook (Sales, Billion USD; 2018-2028)
Technology Outlook (Revenue, $ Billion; 2018-2028)
Promotion Outlook (Revenue, $ Billion; 2018-2028)
End Use Outlook (Revenue, $ Billion; 2018-2028)
Civil and commercial law
The report has been specially curated to provide a deep understanding of the competitive landscape of the global Small Arms Market and highlight the leading market competitors, their market positions, product portfolios, gross sales shares, profit margins, price analysis, distribution network and channels, and financial condition.
The report aims to answer the most frequently asked questions about the Global Small Arms Market:
How big is the scope of innovation in the current market landscape?
Which current trends determine global market growth?
What is the forecast market value in 2027?
Which regional market is expected to have the highest CAGR in the forecast period?
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November 22, 2021 at 12:54 GMT
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