Automatic Weapons Global Market Report 2024

The automatic weapons market size has grown rapidly in recent years. It will grow from $8.54 billion in 2023 to $9.45 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth observed in the historical period can be ascribed to the modernization of military forces, instances of conflict and war, the prevalence of terrorism and insurgency, the requirements of law enforcement, and the dynamics of arms trade and export.

The automatic weapons market size is expected to see strong growth in the next few years. It will grow to $13.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The anticipated growth in the forecast period can be associated with the development of counter-drone capabilities, considerations related to urban warfare, geopolitical instability, integration of unmanned systems, and concerns regarding cybersecurity. Major trends expected in the forecast period encompass non-lethal technologies, advancements in technology, the use of sustainable and eco-friendly materials, the collaboration of humans and machines, and global cooperation in research and development.

The anticipated growth in the automatic weapon market is expected to be propelled by an increase in military expenditure. Military expenditure comprises spending on weapons, weapon systems, operations, maintenance, personnel, and other specific military equipment. Government allocations for military purposes support the development of various aspects of the military sector, including automatic weapons. For example, as of March 2023, the United States Air Force (USAF) reported a fiscal year 2024 budget request of approximately $215.1 billion, representing a $9.3 billion or 4.5% increase from fiscal year 2023. Hence, the upsurge in military expenditure acts as a driving force for the automatic weapon market.

The growth of the automatic weapons market is anticipated to be fueled by the increasing threats across borders in the coming years. Cross-border threats refer to security issues, hazards, or dangers that extend or spread beyond national boundaries. Automatic weapons can play a role in addressing or contributing to the challenges posed by cross-border threats. It's important to note that the utilization of automatic firearms in such situations may have both defensive and offensive applications. As of July 2023, the United Nations High Commissioner for Refugees reported that over 110 million individuals have been forcibly displaced worldwide, with Afghanistan, Ukraine, and Syria accounting for 52% of all refugees and individuals in need of international protection. Thus, the growing cross-border threats contribute to the momentum in the automatic weapons market.


Product innovations stand out as a prominent trend gaining traction in the automatic weapon market. Leading companies in the automatic weapon sector are actively engaged in developing novel products to maintain their market standing. For example, in July 2021, Ordnance Factory Tiruchirappalli (OFT), a defense company based in India, introduced TriCa (Trichy Carbine), a compact and lightweight automatic weapon weighing 3.17 kg. TriCa features a distinctive muzzle booster designed for flash concealment and sound reduction during firing, offering an effective range of 150 to 175 m. It boasts compatibility with ammunition, magazines, and interchangeable parts from existing assault rifles such as the TAR and AK-47, catering to various forces, including infantry combat vehicle crews, paratroopers, and special operation forces.

Major players in the automatic weapons market are opting for a strategic partnership approach to deliver a comprehensive range of military-approved products. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. As an illustration, in October 2022, ICOMM, an Indian manufacturing company specializing in missiles, sub-systems, electro-optics, and other technologies, announced a partnership with Caracal International LLC, a UAE-based manufacturer of small arms. This Memorandum of Understanding (MoU) between ICOMM and Caracal (EDGE Group, UAE) represents a significant milestone in making India's defense sector self-sustainable and self-reliant in response to global geopolitical developments. The entire range of small arms will be produced at ICOMM's state-of-the-art design, development, and production center in Hyderabad as part of the collaborative effort between ICOMM and Caracal. ICOMM has established itself as one of the largest manufacturers of missiles, subsystems, communications and EW systems, radar systems, electro-optics, composites, drones, counter-drone systems, loitering munitions, and shelters.

In November 2021, True Velocity, a US-based developer of innovative composite-cased ammunition for rifles, acquired LoneStar Future Weapons for $84 million. This acquisition positions True Velocity to expand its groundbreaking approach to lightweight ammunition development and advanced manufacturing technology into the weapons industry, capitalizing on LoneStar's substantial expertise in research and design, precision manufacturing, quality control, and production efficiency. LoneStar Future Weapons is a US-based defense systems company specializing in automatic weapons.

Major companies operating in the automatic weapons market report are China North Industries Corporation, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems PLC, Daewoo Engineering & Construction, Rheinmetall AG, Singapore Technologies Engineering Ltd., Israel Aerospace Industries Ltd., Remington Arms Company, Beretta USA, Smith & Wesson Corp., Taurus Armas S.A., Heckler & Koch AG, SIG Sauer AG, FN Herstal SA, Colt’s Manufacturing Company LLC, HS Produkt d.o.o., Denel Land Systems, Israel Weapon Industries (IWI) Ltd., Barrett Firearms Manufacturing Inc., Glock, Windham Weaponry Inc., Bushmaster Firearms International, Norinco Private Limited, Ukroboroprom, KalibrGun Valdy EU s.r.o., Robinson Armament Co., Zastava Arms, Sphinx Systems Private Limited, Steyr Arms Inc., Zenith Firearms Inc.

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

The primary categories of automatic weapons include automatic rifles, machine guns, automatic launchers, automatic cannons, and Gatling guns. An automatic rifle is a firearm designed to be shoulder-fired, enabling the rapid firing of multiple rounds with each trigger pull. Widely utilized by military personnel and law enforcement agencies for combat and tactical purposes, these rifles are available in various caliber sizes, ranging from small to medium and large. They find application across different contexts, including land, airborne, naval, handheld, and stationary settings.

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

The automatic weapon market consists of sales of automatic pistols, assault rifles, and automatic shotguns. 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.