Strict Government Legislations Limit The Small Arms And Light Weapons Market
2021 World Small Arms and Light Weapons Market Report: COVID 19 Impact and Recovery by 2030
Small Arms and Light Weapons Company Global Market Report 2021: COVID 19 Impact and Recovery Through 2030
LONDON, GREATER LONDON, UK, February 22nd, 2021 /EINPresswire.com/ – New Year, New Updates! Our reports have been revised regarding market size, forecasts and strategies for 2021 after the impact of COVID-19: https://www.thebusinessresearchcompany.com/global-market-reports
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Strict state laws against firearms possession are likely to hamper the development of the small arms and light weapons market in the years to come. Countries around the world have tightened their gun laws, making it a lot harder for ordinary people to own a firearm as mass shooting events are on the rise. According to the Gun Violence Archive (GVA), over 33,000 criminal attacks using firearms were reported in 2019 alone. The Weapons (Amendment) Bill, 2019, states that those who ruthlessly or negligently use firearms in ceremonial shots risk human life or the personal protection of others for a two-year prison sentence or a fine of up to $ 0.0014 million Dollars (1 lakh) or both.
As a result, strict government legislation against firearms possession is holding back the growth of the small arms and light weapons market. The countries covered by the global small arms market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and the USA.
The global small arms and light weapons market is projected to increase from $ 24.44 billion in 2020 to $ 25.05 billion in 2021, with an average annual growth rate (CAGR) of 2.5%. The growth is mainly due to companies reorganizing their operations and recovering from the effects of COVID-19, which had previously resulted in restrictive containment measures that included social distancing, remote working and the cessation of commercial activities that created operational challenges . The market is projected to reach $ 31.05 billion in 2025 with an annual growth rate of 5.5%.
The main players in the global small arms and light weapons market are Beretta SpA, FN Herstel, Smith & Wesson Holding Corporation, SIG Sauer, Carl Walther GmbH, GLOCK Ges mbH, Colts Manufacturing Company LLC, Lockheed Martin Corporation, Thales Group, SAAB AB, Glock Ges. MbH, Browning Arms Company, Heckler and Koch, Sturm Ruger & Company, Alliant Techsystems.
Global Small Arms and Light Weapons Market Report 2021: COVID 19 Impact And Recovery To 2030 is one of a series of new reports from The Business Research Company that outline the Small Arms and Light Weapons Market and Small Arms and Light Weapons Market Size and Growth Light Arms forecast for the entire market, small arms and light weapons market segments and geographic regions, small arms and light weapons market trends, small arms and light weapons market drivers, restraints, revenues, profiles, and market shares of leading competitors.
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February 22, 2021 at 09:26 GMT
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