Small Arms And Light Weapons Global Market Opportunities And Strategies To 2034

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 60.03% or $5.84 billion of the total in 2024. 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 6.51% during 2024-2029.

The small arms and light weapons market is segmented by action into manual, semi-automatic and automatic. The semi-automatic market was the largest segment of the small arms and light weapons market segmented by action, accounting for 43.47% or $4.23 billion of the total in 2024. 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 10.77% during 2024-2029.

The small arms and light weapons market is segmented by caliber into 14.5 mm, 9 mm, 12.7 mm, 5.56 mm, 7.62 mm and 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 30.00% or $2.91 billion of the total in 2024. 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 8.22% during 2024-2029.

The small arms and light weapons market is segmented by firing systems into gas operated, manual and recoil operated. The gas operated market was the largest segment of the small arms and light weapons market segmented by firing systems, accounting for 46.57% or $4.53 billion of the total in 2024. 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 7.31% during 2024-2029.

The small arms and light weapons market is segmented by end-user sector into law enforcement, military and defense and civil and commercial. The law enforcement market was the largest segment of the small arms and light weapons market segmented by end-user sector, accounting for 46.82% or $4.55 billion of the total in 2024. 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 sector, at a CAGR of 6.83% during 2024-2029.

Asia-Pacific was the largest region in the small arms and light weapons market, accounting for 41.37% or $4.02 billion of the total in 2024. It was followed by North America, Eastern Europe and then the other regions. Going forward, the fastest-growing regions in the small arms and light weapons market will be Africa and Middle East where growth will be at CAGRs of 12.11% and 11.80% respectively. These will be followed by South America and Eastern Europe where the markets are expected to grow at CAGRs of 8.30% and 5.51% respectively.

The global small arms and light weapons market is fairly concentrated, with large players operating in the market. The top 10 competitors in the market made up 27.65% of the total market in 2023. Smith & Wesson Brands Inc. was the largest competitor with a 4.75% share of the market, followed by Sturm, Ruger & Co. with 3.61%, General Dynamics Corp., with 3.11%, SIG Sauer Inc. with 3.09%, Heckler & Koch GmbH with 2.90%, FN Herstal SA (Fabrique Nationale Herstal) with 2.60%, Beretta S.p.A. with 2.49%, Colt’s Manufacturing Company LLC. with 1.78%, Thales Group with 1.74% and GLOCK Gesellschaft m.b.H. with 1.58%.

This report describes and explains the small arms and light weapons market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. 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 $9.73 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.94% since 2019. The market is expected to grow from $9.73 billion in 2024 to $13.18 billion in 2029 at a rate of 6.26%. The market is then expected to grow at a CAGR of 6.33% from 2029 and reach $17.91 billion in 2034.

Growth in the historic period resulted from increasing defense budget, increased terrorism threats, rising military modernization programs, rise in civilian gun ownership and surge in drug trafficking. Factors that negatively affected growth in the historic period were the international arms trade treaties and stringent export regulations.

Going forward, rising demand for lightweight and modular weapons, expansion of military training programs, growth in hunting and sporting activities and favorable government initiatives will drive growth. Factor that could hinder the growth of the small arms and light weapons market in the future include increased scrutiny on human rights and end-use and growing global gun control legislation.

The top opportunities in the small arms and light weapons market segmented by type will arise in the light weapons segment, which will gain $2.16 billion of global annual sales by 2029. The top opportunities in the small arms and light weapons market segmented by action will arise in the automatic segment, which will gain $1.46 billion of global annual sales by 2029. The top opportunities in the small arms and light weapons market segmented by caliber will arise in the more than 14.5 mm segment, which will gain $1.25 billion of global annual sales by 2029. The top opportunities in the small arms and light weapons market segmented by action will arise in the gas operated segment, which will gain $1.7 billion of global annual sales by 2029. The top opportunities in the small arms and light weapons market segmented by end-user sector will arise in the law enforcement segment, which will gain $1.78 billion of global annual sales by 2029. The small arms and light weapons market size will gain the most in the USA at $102.55 million.

Market-trend-based strategies for the small arms and light weapons market include new advanced defense facilities to boost weapon production, next-generation launcher features rapid reloading and programmable rounds, revolutionizing firearms with the rise of computerized small arms technology, strategic partnerships boost innovation in small arms and light weapons market and investment in hybrid case technology to strengthen production.

Player-adopted strategies in the small arms and light weapons market include focus on expanding its business capabilities through partnership to expand its operational capabilities and expanding its manufacturing capabilities through strategic investment.

To take advantage of the opportunities, the analyst recommends the small arms and light weapons market companies to focus on strengthening domestic production and high-tech manufacturing capabilities, focus on advancing semi-automatic grenade launcher capabilities, focus on integrating computerized small arms technology, focus on building strategic partnerships for product development, focus on strengthening production capacity through strategic investment, focus on expanding presence in the light weapons segment, focus on accelerating growth in the recoil-operated segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, continue to use B2B promotions, continue to use B2C promotions and focus on expanding in the law enforcement segment.

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