Small Arms And Light Weapons Market Size, Share & Trends Analysis Report By Product (Small Arms, Light Weapons), By End-use (Civilian, Military, Law Enforcement), By Region, And Segment Forecasts, 2024 - 2030

Small Arms And Light Weapons Market Size, Share & Trends Analysis Report By Product (Small Arms, Light Weapons), By End-use (Civilian, Military, Law Enforcement), By Region, And Segment Forecasts, 2024 - 2030

Small Arms And Light Weapons Market Growth & Trends

The global small arms and light weapons market size is expected to reach USD 37.50 billion by 2030, registering a CAGR of 7.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing issues on human rights and safety and security are expected to drive the demand. The increasing effects of urban warfare along with increasing terrorism incidents have also led to the development of the small arms light weapons across various regions. An increase in the urban warfare along with increased terrorist activity is anticipated to propel the market growth. The development of light-weight weapons for further enhancement of defense system is an ongoing trend in the developed countries.

Increasing criminal activities and human rights violations have resulted in the increased efforts for the technology advancements and modernization of the weapons utilized by law enforcement. The Combat Development and Integration Command’s Fires and Maneuver Integration Division of marines introduced the small arms modernization strategy which is expected to focus on updating and developing the current weapons in short-term and futuristic systems that could hit the fleet in the 2020s.

The governments of various countries are also investing their resources for the development of highly sophisticated weapon accessories such as night vision devices, laser rangefinders, weapon sights, aiming lasers, and fire control systems. High investment in the defense Research & Development (R&D) for shoulder –wired weapons made for developing a highly robust, reliable, and durable weapons system has also catapulted the demand for light weapons in military applications. The limited defense budget to boost the development of defense system is expected to hinder the market growth.

Small Arms And Light Weapons Market Report Highlights

• The light weapons segment held the largest market revenue share of 50.0% in 2023. The rising need for self-defense and security, particularly in regions experiencing political instability or high crime rates, is contributing to this demand..
• The small arms segment is expected to grow significantly over the forecast period. Rising concerns over personal safety and security have led individuals to seek firearms for self-defense purposes.
• The civilian segment held the largest market revenue share in 2023. The rising interest in personal safety and self-defense prompts more individuals to purchase firearms for protection.
• The law enforcement segment is projected to grow with the fastest CAGR over the forecast period. The growing need for enhanced security measures in response to increasing crime rates and terrorism threats.
• North America dominated the market in 2023 accounting for a market revenue share of 43.3%. The growing popularity of shooting sports and outdoor activities has led to a rise in gun ownership as enthusiasts seek firearms for recreational purposes.
• Asia Pacific is projected to grow at the fastest CAGR over the forecast period. The ongoing security concerns and regional conflicts in certain areas heighten the need for defense and law enforcement agencies to upgrade and expand their arsenals.

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