Shoulder Fired Weapons Global Market Report 2024

The shoulder fired weapons market size has grown rapidly in recent years. It will grow from $7.19 billion in 2023 to $8.06 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The expansion during the historical period can be attributed to military modernization programs, counter-terrorism and insurgency operations, geopolitical conflicts and regional tensions, infantry and special operations requirements, as well as law enforcement and homeland security needs.

The shoulder fired weapons market size is expected to see rapid growth in the next few years. It will grow to $12.32 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The anticipated growth in the forecast period can be attributed to emerging security threats, shifts in military doctrine, considerations for urban warfare, upgrades and replacements of existing systems, and international defense collaborations. Key trends expected in the forecast period involve advancements in seeker technologies, the rapid development of counter-countermeasure systems, a growing interest in non-line-of-sight capabilities, enhanced multi-role capabilities, and the integration of networking and communication technologies.

The shoulder-fired weapons market is set to grow with the increasing defense expenditures globally. Governments are increasing defense spending to maintain power and secure their positions. Shoulder-fired weapons provide a significant advantage to armed forces by allowing them to engage targets with accuracy and minimal weight concerns. According to the Stockholm International Peace Research Institute (SIPRI), India's military spending reached USD 76.6 billion in 2021, a 0.9% increase from the previous year. The rise in defense expenditures contributes to the growth of the shoulder-fired weapons market.

The shoulder-fired weapons market is expected to witness growth due to the increasing number of terrorist attacks. Terrorist attacks involve violent acts or threats intended to create fear and intimidation for political, religious, or ideological goals. ReliefWeb reported in March 2023 that terrorist attacks became more deadly in 2022, with an average of 1.7 deaths per attack, compared to 1.3 deaths per attack in 2021. This increase in terrorist activity drives the demand for shoulder-fired weapons, given their availability, symbolic significance, suitability for high-profile targets, ease of use, and proven effectiveness in previous attacks.

A key trend in the shoulder-fired weapons market is the development of recoilless artillery. Recoilless weapons, characterized by a unique method of operation, involve releasing propellant gases from the back of the barrel to counteract recoil. Sweden's military, for instance, announced plans in May 2022 to acquire new ammunition for the Carl Gustaf Recoilless Rifle, showcasing advancements in this type of weaponry.

The key players in the shoulder-fired weapons market are prioritizing production expansion to meet the increasing demand for advanced and portable weapons. Lockheed Martin Corporation, a US-based aerospace company, announced plans in May 2022 to nearly double the production of Javelin anti-tank shoulder-fired weapons. This decision reflects the rising global demand for the precision weapon system, which is utilized by the U.S. Army, U.S. Marine Corps, and international customers. The Javelin Weapon System offers a medium-range, fire-and-forget missile solution for various targets, including armored vehicles, bunkers, and caves.

In November 2021, True Velocity, a US-based technology company specializing in composite cased munitions, acquired LoneStar Future Weapons for $84 million. This strategic acquisition enhances True Velocity's capabilities in developing lightweight ammunition and advanced manufacturing technologies. LoneStar Future Weapons, a Texas-based technological firm focused on next-generation defense solutions, contributes its expertise in research, design, precision manufacturing, quality control, and production efficiency to True Velocity.

Major companies operating in the shoulder fired weapons market report are China North Industries Group Corporation, Raytheon Company, Lockheed Martin Corporation, General Dynamics Corporation, BAE Systems PLC, Thales Group, Singapore Technologies Engineering Ltd., Rheinmetall AG, Saab AB, Rafael Advanced Defense Systems Ltd., Poongsan Corporation, Nordic Ammunition Company, John Cockerill, Chemring Group PLC, Fabrique Nationale Herstal S.A., Mesko S.A., Bharat Dynamics Limited, Denel Land Systems, Forjas Taurus S.A., IMI Systems Ltd., JSC Arsenal AD, AirTronic USA LLC, Instalaza S.A., Basalt Infrastructure Partners LLP, Roket Sanayii ve Ticaret A.S., Matra BAe Dynamics, JSC Konstruktorskoe Buro Priborostroeniya, Giat Industries SASU.

North America was the largest region in the shoulder fired weapons market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shoulder fired weapons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the shoulder fired weapons market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of shoulder-fired weapons are guided and unguided. Guided shoulder-fired weapons refer to those whose path can be changed in flight by a radar device. These weapons, equipped with launchers and ammunition, find use in defense, home security, and other applications.

The shoulder fired weapons market research report is one of a series of new reports that provides shoulder fired weapons market statistics, including shoulder fired weapons industry global market size, regional shares, competitors with a shoulder fired weapons market share, detailed shoulder fired weapons market segments, market trends and opportunities, and any further data you may need to thrive in the shoulder fired weapons industry. This shoulder fired weapons market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.


The shoulder fired weapons market consists of sales of rocket-propellant grenade and bazooka. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.