Small Arms And Light Weapons Global Market Opportunities And Strategies To 2031

This report describes and explains the small arms and light weapons market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.

The global small arms and light weapons market reached a value of nearly $11,023.9 million in 2021, having grown at a compound annual growth rate (CAGR) of 2.4% since 2016. The market is expected to grow from 11,023.9 million in 2021 to $16,911.5 million in 2026 at a rate of 8.9%. The market is then expected to grow at a CAGR of 2.5% from 2026 and reach $19,088.4 million in 2031.

Growth in the historic period resulted from rise in disposable income, rise in merger and acquisition activity, emerging markets growth, increase in urban warfare, increasing domestic violence, and increasing military expenditure. The market was restrained by coronavirus pandemic and defense budget reductions in developed nations.

Going forward increasing incidence of drug trafficking and terrorist activities, increasing defense spending, and increasing military modernization programs. Factor that could hinder the growth of the small arms and light weapons market in the future include strict government legislation against possession of firearms.

The small arms and light weapons market is segmented by type into small arms and light weapons. The light weapons market was the largest segment of the small arms and light weapons market segmented by type, accounting for 58.2%% of the total in 2021. Going forward, the light weapons segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by type, at a CAGR of 9.7% during 2021-2026.

The small arms and light weapons market is also segmented by end user into military and defense, law enforcement, and civil & commercial. The law enforcement market was the largest segment of the small arms and light weapons market segmented by end user, accounting for 47.1% of the total in 2021. Going forward, the law enforcement segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by end user, at a CAGR of 9.2% during 2021-2026.

The small arms and light weapons market is also segmented by caliber into above 14.5mm, 14.5mm, 12.7 mm, 9mm, 7.62 mm, 5.56 mm and small more than 14.5 mm. The more than 14.5 mm market was the largest segment of the small arms and light weapons market segmented by caliber, accounting for 30.8% of the total in 2021. Going forward, the 12.7 mm segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by caliber, at a CAGR of 9.7% during 2021-2026.

The small arms and light weapons market is also segmented by action into manual and semi-automatic and automatic. The manual and semi-automatic market was the largest segment of the small arms and light weapons market segmented by action, accounting for 54.2% of the total in 2021. Going forward, the automatic segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by action, at a CAGR of 12.0% during 2021-2026.

The small arms and light weapons market is also segmented by firing systems into recoil-operated, gas-operated and manual. The gas operated market was the largest segment of the small arms and light weapons market segmented by firing systems, accounting for 45.4% of the total in 2021. Going forward, the recoil operated segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by firing systems, at a CAGR of 11.5% during 2021-2026.

The small arms market is also segmented by small arms into pistol, revolver, rifles, shotgun, other small arms. The pistol market was the largest segment of the small arms and light weapons market segmented by small arms, accounting for 14.3% of the total in 2021. Going forward, the riffles segment is expected to be the fastest growing segment in the small arms and light weapons market segmented by small arms, at a CAGR of 8.4% during 2021-2026.

Asia Pacific was the largest region in the small arms and light weapons market, accounting for 33.2% of the total in 2021. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the small arms and light weapons market will be Eastern Europe, and, North Americs where growth will be at CAGRs of 26.7%% and 9.1%% respectively. These will be followed by Asia-Pacific and South America where the markets are expected to grow at CAGRs of 9.1% and 5.5% respectively.

The small arms and light weapons market is slightly concentrated, with a few large players dominating the market. The top ten competitors in the market made up to 31.99% of the total market in 2021. The market concentration can be attributed to the high entry barriers and high costs associated with expansion. Going forward the market is expected to experience further consolidation with the rising number of mergers and collaboration among players in the market. Smith & Wesson Brands, Inc. was the largest competitor with 7.38% share of the market, followed by Sturm, Ruger & Company, Inc. with 6.61%, General Dynamics Corporation with 5.46%, SIG Sauer, Inc with 3.51%, Heckler & Koch GmbH with 2.61%, FN Herstal S.A. with 2.00%, Colt's Manufacturing Company LLC with 1.84%, Raytheon with 1.26%, Thales Group with 0.92% and GLOCK Gesellschaft m.b.H. with 0.39%.

The top opportunities in the small arms and light weapons market segmented by type will arise in the light weapons market segment, which will gain $3,759.0 million of global annual sales by 2026. The top opportunities in the small arms and light weapons market segmented by end user will arise in the law enforcement market segment, which will gain $2,860.7 million of global annual sales by 2026. The top opportunities in the small arms and light weapons market segmented by caliber will arise in the more than 14.5 market segment, which will gain $1,722.9 million of global annual sales by 2026. The top opportunities in the small arms and light weapons market segmented by action will arise in the manual and semi-automatic market segment, which will gain $2,018.0 million of global annual sales by 2026. The top opportunities in the small arms and light weapons market segmented by firing systems will arise in the gas operated market segment, which will gain $2,979.7 million of global annual sales by 2026. The top opportunities in the small arms market size by type will arise in the pistol market segment, which will gain $710.7 million of the global annual sales by 2026. The small arms and light weapons market size will gain the most in the USA at $1,578.0 million.

Market-trend-based strategies for the small arms and light weapons market include focus on launching new products, focus on upgradations of designs and modularity for military style weapons, focus on 3D printing technology, focus on laser technology, and focus on day/night decamouflage technology for light weapons.

Player-adopted strategies in the small arms and light weapons market include enhancing business position in the compact concealed carry firearm market, offering customized products to customers through the launch of new products, offering next generation squad weapons, offering quality and low-cost products to customers through innovative product launches, and launch of new products.

To take advantage of the opportunities, the publisher recommends the small arms and light weapons companies to use 3D printing, use polymers in manufacturing weapons, use day/night decamouflage technology, expand in emerging markets, focus on regions of conflict, focus on mergers and acquisitions, provide competitively priced offerings, leverage online marketing, focus on building long-term relationships with end-users, focus on governments and target fast-growing applications.