Small Arms Market worth $9.6 billion by 2025
CHICAGO, 1st December 2020 / PRNewswire / – According to the latest market research report, Small Arms Market by End Use Sector (Defense, Civil, and Commercial), Type (Pistol, Revolver, Rifle, Machine Gun, Shotgun), Caliber (5.56mm, 7.62mm, 9MM), Technology, Cutting Style, Firing Systems, Action, and Region – Global Forecast to 2025, “published by MarketsandMarkets ™, the size of the small arms market is expected to grow $ 8.6 billion in 2020 to $ 9.6 billion by 2025 with a CAGR of 2.1% from 2020 to 2025. Factors such as the changing nature of warfare, the militarization of the police force, the increasing frequency of drug trafficking and terrorist activities, geopolitical tensions, territorial conflicts, terrorism and political unrest in the middle East and Asia Pacific, rising military spending, modernization of the armed forces and increasing civilian use of small arms.
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The COVID-19 pandemic has had a major impact on economies around the world, as it has impacted the manufacturing of small arms, components and assembly lines. While the manufacture of small arms for military applications is paramount, disruptions in the supply chain have rolled back their manufacture for the time being. Resumption of manufacturing and demand for small arms depends, among other things, on a country’s level of COVID-19 exposure, the state of manufacture, and import / export regulations. Although companies may still be taking orders, delivery schedules may not be in place. Countries in North America, Europe, and Asia Pacific have maintained the current growth in defense spending during this period in contrast to countries in other regions. According to an industry expert, the demand for small arms is not expected to be much affected as small arms are a key component of frontline infantry.
Rising spending on upgrading the armed forces is fueling growth in defense applications
The growth of the defense segment of the small arms market is due to increased spending by countries on military modernization programs, increased domestic crime, and cross-border drug trafficking. The defense segment of the small arms market has been divided into military and homeland security. The growth of the military market segment is due to increased spending by various countries on military modernization programs. For example, the US is exploring the possibility of replacing its current ammunition with the new advanced 6.8mm ammunition since 2018 and is also developing a new firearm for this type of ammunition.
Based on caliber, the 9mm segment of the small arms market is expected to lead the way over the forecast period
Based on caliber, the 9mm segment is expected to lead the small arms market from 2020 to 2025. The 9mm gun is the most widely used small arms round for military and law enforcement applications. The 9x19mm Parabellum caliber is one of the most preferred NATO calibers by armed forces around the world. Small arms, mainly used by civilians for 9mm, helped the segment grow.
The rifle segment of the small arms market is expected to have the highest CAGR as the focus shifts to improving armed forces inventory levels
Depending on the type, the small arms market has been divided into several categories, namely pistol, revolver, rifle, machine gun, shotgun, and others. There are several types of rifles such as assault rifles, snipers, recoilless rifles, modern sport rifles, and anti-material / bolt action rifles that fall into this category. The modern sport rifle has also enjoyed a high level of acceptance in recent years due to the increasing sporting and hunting activities. Due to modernization programs being carried out around the world, the demand for assault rifles and sniper rifles has increased significantly compared to other small arms, which is contributing to the growth of the rifle segment.
The North America The market is expected to have the largest share of the small arms market from 2020 to 2025
The small arms market in the North American region was studied for the United States and Canada. North America shows the highest potential demand for small arms, largely due to increased defense spending countries in the region, as well as the increase in armed violence, which is driving both law enforcement and civilians to source small arms for small arms countermeasures. Terrorism as well as self-defense applications. The increasing popularity of sports and hunting activities among civilians has also resulted in significantly higher demand for small arms in the North American region.
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North American countries are awarding a number of contracts to large players in the small arms market for the supply of small arms, which is driving the growth of the small arms market in the region. For example in February 2020, FN America was awarded a $ 119 million US Department of Defense contract for five years to supply more than 167,000 M4 and M4A1 rifles. in the March 2020, Hecker & Koch was awarded an a USD 33 million US Army Contracting Command contract for the supply of compact semi-automatic sniper systems and Squad-Designated Marksman rifles. in the May 2020, Colt Canada, a subsidiary of Colts Manufacturing Company LLC, has received an order from the Canadian Department of Defense to supply 272 new C20 rifles.
The small arms market is dominated by some globally established players, including Colt’s Manufacturing LLC (USA), GLOCK Ges.mbH (Austria), Smith & Wesson (USA), Sturm, Ruger & Co., Inc. (USA), Israel Weapons Industry (IWI) (USA), Heckler & Koch GmbH (USA)Germany), Kalashnikov Group (Russia) and Česká Zbrojovka as (Czech Republic).
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