Global Small Arms Market to Reach US$11.6 Billion by 2030
The global market for Small Arms estimated at US$9.6 Billion in the year 2023, is expected to reach US$11.6 Billion by 2030, growing at a CAGR of 2.7% over the analysis period 2023-2030. Rifle, one of the segments analyzed in the report, is expected to record a 2.9% CAGR and reach US$6.4 Billion by the end of the analysis period. Growth in the Pistol segment is estimated at 2.5% CAGR over the analysis period.
The U.S. Market is Estimated at US$3.9 Billion While China is Forecast to Grow at 3.5% CAGR
The Small Arms market in the U.S. is estimated at US$3.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 3.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.0% and 2.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.
Global Small Arms Market - Key Trends and Drivers Summarized
Small arms refer to lightweight, portable firearms that can be operated by individual personnel. These typically include handguns such as pistols and revolvers, shoulder arms like rifles and carbines, and other personal weapons such as shotguns and submachine guns. Small arms are distinct from heavier military artillery and crew-served weapons systems due to their direct use by a single operator. They play crucial roles in a variety of settings, from military and law enforcement scenarios to sporting and personal defense contexts. The effectiveness of small arms is determined not only by their design and manufacturing quality but also by their ease of use, reliability under different conditions, accuracy, and lethality. These weapons are subject to strict regulatory controls in many countries, reflecting their potential impact on public safety.
In the military and law enforcement sectors, the demand for small arms has been consistently robust, driven by the need for modernization of equipment and the regular procurement cycles associated with defense and security operations. Innovations in small arms technologies have included enhancements in firearm ergonomics, recoil reduction, and the integration of electronic and digital systems such as smart scopes and tracking systems. These improvements aim to increase the tactical efficiency of the firearms under a range of operational conditions. Additionally, the civilian market for small arms has seen substantial growth, influenced by rising interest in personal safety and sport shooting. This sector`s expansion is also fueled by the legal frameworks that regulate the ownership and use of firearms, varying significantly from one country to another, thus influencing market dynamics.
The growth in the small arms market is driven by several factors, including geopolitical tensions, national defense modernization programs, and the increasing popularity of shooting sports. Heightened security concerns and global conflicts necessitate continuous updates and replacements of outdated firearms in both military and law enforcement arsenals, fostering a steady demand for new and advanced weaponry. Moreover, technological advancements such as lightweight composite materials for gun bodies and enhanced precision mechanisms contribute significantly to product development and consumer interest. Furthermore, consumer behavior towards enhanced personal security has led to increased firearm purchases among civilians, underpinning market growth.
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